Quote:
Originally Posted by falcone
Been lurking around this forum, but thought I did pick the wonderful minds here
Thinking of getting one of the 2BR+Den Condos at Wave as a first home for me and my future wife. Got an offer for 320k. Having a hard time deciding if this is a good deal for the area, since the average Surrey apartment/condo goes for 200k+.
Is this a good time to get into Surrey, or should I hold out for the many other condos coming up? If I didn't buy, I would probably end up renting here anyway and wait, probably saving for a larger downpayment. Not sure how much quality there is in Rize is as a developer too. 
|
I don't think condo prices are rising that quickly in Surrey Central. At least my last two assessments would back that notion. On the other hand the townhouse I bought just down the road from Surrey Central rose $60,000 in 6 months... My assessment for 1 bedroom Park Place unit, 3 years old roughly, 577 sq ft. is $235k. 1 bedroom.
So 320k is not bad for a 2 bed + den without knowing the exact sq. footage or what floor (aka if it is 650 sq ft and on the 8th floor I'd say it is a bad deal...). I know nothing of Rize though from a development standpoint, and personally I wasn't a fan of the floor plans though that was more specific to the smaller units. I did really like the out-door space but correct me if I'm mistaken, I thought the units were "smaller" than equal units in other buildings to compensate for the larger outside space.
Either way if you aren't pressed to buy at this stage and can save for a larger down payment I'd say go for that. If you can get to the 20% down mark or more you'd be laughing especially if you're planning to start a family once you're married.