Radiant & Refined Concord Gardens

Concord Gardens Sales Centre: Number 3 Road & Capstan Way, Richmond, BC

List Prices: 1 Bedroom & Den(1 bath): $335-$350,000 1 Bedroom & Guest Room (1 bath): $330-$370,000 2 Bedroom & Den (2 baths): $440-$530,000 2 Bedroom & Guest Room (2 or 3 bath): $460-$590,000 3 Bedroom (2 bath): $660-$690,000 Penthouses: $970,000

Floor Area: 553-1290 s.f.

The Concord Gardens is the largest master planned community in Richmond, BC.  It’s Northwest location was selected for it’s strategic meeting point between Vancouver and Richmond with 360 degree access.  The buildings will incorporate the geographical advantages of the water and mountain landscape encouraging a positive feng shui energy, or “chi”.  Water, representing wealth, is important to the design and has been integrated  extensively throughout the complex.

Concord Gardens sales centre gives a luxurious welcome.  A large beautiful LED coloured fountain greets guest in in the parking lot, while an Aston Martin sits curb side to the entry way.   The front desk feels more like a reception desk of a 5-star hotel, giving comfort in a potential extended stay.  Luxury is carried throughout the whole show space with a beautiful seating area featuring a white grand piano.  The 3D digital display shows the ingenuity and beauty of the complex.  The expansive water garden setting and 68,000 s.f. of park land with super club featuring 25,000 s.f. of amenities including badminton courts, bowling, pool, theatre, golf simulator, and grand ballroom, offers something for everyone – right at their finger tips.

I was given a personalized guided tour of the space, options, and special features of the Concord Gardens. The floor plans follow similar layouts as other new construction builds, with the exception of the guest room option.  However, Concord takes the space and embellishes with unique “smart features” while showing off custom upgrades that widen your eyes and make you see how nice condo living can be.

This was single-handedly the most impressive pre-build open house I have visited. Exceptional materials, large, yet meticulous plans, premium service, and emphasis on sharing the Concord story of  water and park integration, this community did not only prove its desirability to me, but to the Richmond community. Phase 1 (West Block and North Block) is already 80% sold.  Sales for Phase 2 are expected to start in early 2014 around Chinese New Year.

PROS

• Central location 3 minutes to Vancouver and shopping centres, 6 minutes to Richmond Centre, 20 minutes to US border
• Close to transit and beside upcoming Capstan transit station
• 25,000 s.f of amenities including: table tennis room, exercise room, yoga/pilates room, music and karaoke studio, mahjong and card room, lantern pavilion, rooftop garden, children’s play area, study/reading room with wifi, indoor swimming pool, sauna and stem room, fitness centre, gymnasium for basketball or badminton, a golf simulator, grand ballroom and dining hall, theatre, sports lounge and games room, and bowling alley
• 68,000 s.f. of park area with extensive landscaping and water gardens throughout the complex
• Beautifully designed layouts with two elegant finishing choices (boutique and couture) at two price points
• Floor plans maximize living space
• Every kitchen has glass display shelves and “smart features”: a recycling centre, pullout spice racks, a magic corner pullout Lazy Susan and a cereal cabinet that opens into the dining area instead of the kitchen. The display shelves, standard in every kitchen, have lighting at eye level for ambience.

CONS

• Some one bed rooms (Plan A14)  do not include a parking stall
• Each unit only comes with one parking stall (townhouses have 1 tandem stall, penthouses include 2 stalls)
• Completion not until 2016
• On the smaller side for living space
• Many amenities and parks are not available until completion of Phase 2

MORTGAGE DETAILS

Based on 2 bedroom & guest room; boutique finish Purchase Price: $460,000 + 7% GST = $492,200

High Ratio Loan (less than 20% down payment) Interest Rate: 3.39% Amortization: 25-year Down Payment (5%): $24,610 CMCH fees: $12,859 Total loan: $480,449 Payment: $2371 Approximate income required: $89,000

Conventional Loan (20% or more down payment) Interest Rate: 3.39 Amortization: 30-year Down Payment (20%): $98,440 Total Loan: $393,760 Payment: $1,739 Approximate income required: 65,500

From my home to yours - Irene

Comparison of two Richmond Rancher Townhomes

Sunrise Park #10 10177 Pugwash Place MLS: V1030568 List Price: $514,900 Floor Area: 1253 Units: 3 Bed/2 Bath Condo Fees: $223.51 Taxes: $1,948	Sunrise Park #13 10177 Pugwash Place MLS: V1033992 List Price: $509,900 Floor Area: 1253 Units: 3 Bed/2 Bath Condo Fees: $223.51 Taxes: $1,948

Located in Steveson North, nestled in a quite neighbourhood, two rarely available rancher style townhomes units are now for sale.

I decided to visit both for a comparison.  The pictures clearly show one with renovations completed and one in its original form.

The unit layouts are mirror images of each other, with the yard size and lot placement being the main differentiators, besides the obvious upgrades.  The reason for choosing one over the other would depend on your interest in renovating to your tastes and available time and funds to do so.

Personally, I liked the idea of the bigger yard of unit #13.  It also backs onto a park, which is a nice feature.  However, the amount of work to bring the unit to my living comfort seems a bit daunting, especially having a partner like mine that’s not really your typical handyman.   The renovated unit does offer a nice backyard with a deck, shed, and landscaping for privacy.  It’s well maintained, and it I’m sure it would be well used.

For a family or retiree looking for that “home-like” place at a “condo-like” price, these units are a great bet.   It’s a nice community with schools, parks, and Stevestone village nearby.

PROS

• Nice neighbourhood and close to Steveston village
• Open floor plan
• Backyard access
• laundry room
• Walk in closet in the master bedroom
• Unit #10 – updates have been done to make this a move in ready space

CONS

• Both units have original kitchens.  Painting or replacement of cupboards and new appliances would be a consideration
• Spare bedrooms aren’t overly large in size
• Unit #13 – extensive renovations required (floors, paint, bathrooms and kitchen)
• Guest parking wasn’t visible – not sure if any is available or how far away it’s from the units
• Bedrooms are close to the entrance way.

MORTGAGE DETAILS

Unit #10, 10177 Pugwash Place Purchase Price: $514,900 Interest Rate: 3.39% Term: 5-year

High Ratio Loan (less than 20% down payment) Amortization: 25-year Down Payment (5%): $25,745 CMCH fees: $13,451 Total loan: $502,606 Payments: $2,480

Approximate income required: $93,000

Conventional Loan (20% or more down payment)
 Amortization: 30-year Down Payment (20%): $
102,980 Total Loan: $
411,920 Payment: $
1,820

Approximate income required: $68,350

From my home to yours -
Irene

Panoramic Patio Views

Mosaic at Renaissance Towers 
1807 2138 Madison Avenue MLS: v1019480

List Price: $476,000 Floor Area: 967 Unit: 2 Bed/2 bath Condo Fees: $263.42

Located near Brentwood Mall in Burnaby, close to transit and shopping, this 18th floor unit has an east view spanning from the North Shore Mountains to Burnaby south.

The kitchen and living areas are large and open, great for entertaining and hosting guests. Well maintained and cared and it’s empty and ready for move it.

PROS

• Central location, walking distance from the skytrain
• Master rooms good size
• Clubhouse amenities onsite
• Large balcony
• Shopping and restaurants nearby
• Great views with large living room windows
• Well maintained
• 2 Parking stalls

CONS

• Second bedroom is small
• East facing – not as much sun
• Kitchen appliances could use an eventual upgrade

MORTGAGE DETAILS

Purchase Price: $476,000 Interest Rate: 3.59%

High Ratio Loan (less than 20% down payment) Amortization: 25-year Down Payment (5%): $23,800 CMCH fees: $14,049 Total loan: $467,249 Payments: $2,355

Approximate income required: $88,000

Conventional Loan (20% or more down payment)
 Amortization: 30-year Down Payment (20%): $95,200 Total Loan: $380,800 Payment: $
1,723

Approximate income required: $65,000

From my home to yours -
Irene

Fit for a Growing Family

Cavatina Townhomes 8000 Bowcock Road, Richmond

List Price: $608,000 – $668,000 Floor Area: 1390-1540 Unit: 3 bed/2.5 bath and 4 bed/2.5 bath Condo Fees: ~$275

Located in Central Richmond, the Cavatina Townhomes are close to pretty much everything you would need, including transit, shopping, schools and community facilities.  This 8-unit townhome complex has only 4 units remaining.  Each has their own unique floor plan with a list of enhanced features including: side-by-side garages, patio area, ‘easy clean’ cabinetry, stone countertops, and Green Home rating for CMHC insurance rebate.

PROS

• Central location
• Close to a number of amenities
• Rooms are decent in size (Unit 4D has an extra large Master Suite)
• Each unit has a patio area and some have an additional deck on third floor
• 4-bedrooms have a option to have top floor as 4th bedroom, entertainment area or office
• In-house storage unit under stairs
• Children’s play area within complex
• Nice landscaping
• Bathrooms situated on every floor

CONS

• Units along #3 road may have louder/busy road traffic
• Not all units have side-by-side garage parking
• Number of stairs for 3-story units
• New units have to factor in GST and transitional tax
• Maintenance fees are on the higher side for new builds
• Kitchens are nice and open, but some feel a bit restricted in size
• Living area not especially large

MORTGAGE DETAILS

Show Suite: Layout 2B, 1540 sqft Purchase Price: $668,000 + 7% GST = $714,760

High Ratio Loan (less than 20% down payment) Interest Rate: 3.54% Amortization: 25-year Down Payment (5%): $35,738 CMCH fees: $18,673.10* Total loan: $697,695.10 Payment: $3,498 Approximate income required: $131,000 *CMHC Green Home rebate may apply (10% return)

Conventional Loan (20% or more down payment) Interest Rate: 3.45% Amortization: 30-year Down Payment (20%): $142,952.00 Total Loan: $571,808.00 Payment: $2,549 Approximate income required: $95,500

From my home to yours - Irene

Oceanfront Living on the Sunshine Coast

Watermark at Sechelt 5665 Teredo Street, Sechelt, BC

List Price: $264,900 – $839,900 Floor Area: 644-1786 Unit: 1 bed/1 bath – 2 bed/2 bath+ den Condo Fees: $100 – $300

I make my way to Sechelt a few times a year since a number of my family members have made it home over the last few years.  Sechelt is located on the mainland, however, it is only accessible by boat.  A short 40 minute ferry ride is what separates Gibsons, the first town on the Sunshine Coast from West Vancouver.  A short drive up the coast, past Roberts Creek and Davis Bay, you enter the lovely and quaint town of Sechelt.

Over the last year or so, I have watched the Watermark, a two phase condo complex in the heart of the community along side Pebble Beach, come to life.  Owners of Phase I were given occupancy this past June, with Phase II aiming for completion this Fall 2013.

There is a premium on these units due to the location, breath taking views, beach access, modern amenities, and the quality finishings, but for many it would be worth the added price tag.  There are very few opportunities to own a condo along the waterfront in the area, let alone newly developed property.

The units vary in size from one bedrooms to two beds+ a den with the layouts arranged to optimize balcony waterfront views.  The building has been designed to accommodate and adapt to an aging population.   Wider hallways, lower placed mail boxes and light switches are some examples.  Mainly focusing on retirees who come to Sechelt wanting to be close to the city, while living a much calmer lifestyle on the coast, The Watermark fuses upscale city living with the comfort and relaxation of a beach village getaway.

PROS

• Location
• Views
• Beach Access
• Tasteful interior finishes
• Master room quiet large in most layouts
• Unique layouts, usually with decent sized balconies
• Storage units available on parking level
• Bike Storage
• Bright and accessible parking
• Natural gas fireplaces and BBQ outlet on balconies
• Multi-purpose amenity room
• Extensive landscaped grounds

CONS

• Priced higher than most condo units in the area
• Common landscaped area also allows for public access
• Secondary bedrooms not very big
• Only one parking stall guaranteed with each unit

MORTGAGE DETAILS

Show Suite: Layout D, 1126 sqft Purchase Price: $439,900 + 7% GST = $470,693

High Ratio Loan (less than 20% down payment) Interest Rate: 3.34% Amortization: 25-year Down Payment (5%): $23,535 CMCH fees: $12,297 Total loan: $459,455 Payment: $2255 Approximate income required: $84,500

Conventional Loan (20% or more down payment) Interest Rate: 3.39% Amortization: 30-year Down Payment (20%): $94,139 Total Loan: $376,554.00 Payment: $1666 Approximate income required: $62,500

From my home to yours -Irene