[Surrey] Prime at the Plaza | 110m | 37fl | Completed - Page 3

w34lth · #41 Posted **Jun 22, 2015, 2:07 AM**

Quote:

Originally Posted by skymaster

W34lth I hope your friend doesn't see this thread after picking that up lol.

Haha I hope he doesn't either.

What do you feel it could be rented for?

GMasterAres · #42 Posted **Jun 22, 2015, 2:30 AM**

Quote:

Originally Posted by w34lth

Haha I hope he doesn't either.

What do you feel it could be rented for?

Hard to say. Fully furnished like you said could still net around $1000 a month based on the location. I always worry with fully furnished though because it is more things for a renter to break and you have to repair. And given the custom nature of everything I'd imagine replacement would not be cheap. Not like going to just get a new bed for example, you suddenly need some magic transformer bed or table.

Tell your friend to be very very careful in renting it out and get all the insurance he needs + do background checks or renting it out could get costly.

But fully furnished will net some extra money on the rent so it could be up near $1000 if he tried hard. Again difficult to say when this building is complete he will be competing with quite a few new towers in the area all likely renting units out but given the interest I had in my apartment to re-rent it out back in May, shouldn't have a load of issues.

Nites · #43 Posted **Jun 22, 2015, 6:52 AM**

Renting it out shouldn't be a problem because of it's location like Jhausner said considering it's only a block away from SFU and 2 blocks away from skytrain. It's hard to guess at this point though.

w34lth · #44 Posted **Jun 22, 2015, 2:56 PM**

I believe Prime will be the second closest building to the skytrain. (1st being Civic)

I do agree renting out a furnished unit can be scary.

w34lth · #45 Posted **Jun 23, 2015, 11:20 PM**

GMasterAres · #46 Posted **Jun 24, 2015, 6:39 AM**

I think that "Overheight ceilings" blurb needs to just be removed these days. Are there any condos built in the last 5+ years that don't have at least 9 foot ceilings? I don't think so so the 9 foot ceilings wouldn't be overheight they would just be "normal."

Nice to have real hardwood though. I don't mind laminate but hardwood is by-far better imho. Amenity list looks good thought and concierge are nice to have in my experience.

officedweller · #47 Posted **Jun 24, 2015, 7:43 PM**

8'6" is standard. 9' is still overheight
Especially compared to downtown Vancouver, where overall building height is more closely regulated.
They may be targeting buyers from Vancouver.

w34lth · #48 Posted **Jun 25, 2015, 2:31 PM**

Quote:

Originally Posted by officedweller

8'6" is standard. 9' is still overheight
Especially compared to downtown Vancouver, where overall building height is more closely regulated.
They may be targeting buyers from Vancouver.

While on my tour of show suites in the surrey city center Prime was the only sales centered dominated by local buyers picking up 4-5 units at once.

So you could be right.

CoryHolmes · #49 Posted **Jun 25, 2015, 11:21 PM**

Just got an email from Prime, they say they've gotten their building permit so construction should get underway soon.

w34lth · #50 Posted **Jun 25, 2015, 11:41 PM**

Quote:

Originally Posted by CoryHolmes

Just got an email from Prime, they say they've gotten their building permit so construction should get underway soon.

How soon does construction normally begin after a e-mail mailer?

Nites · #51 Posted **Jun 27, 2015, 4:08 AM**

Quote:

Originally Posted by w34lth

How soon does construction normally begin after a e-mail mailer?

1 month - Never

But in this case I'm assuming 3 weeks to 3 months.

w34lth · #52 Posted **Jun 27, 2015, 2:30 PM**

Quote:

Originally Posted by skymaster

1 month - Never

But in this case I'm assuming 3 weeks to 3 months.

Perfect. I just picked up a unit for use as a rental.

Ended up buying a micro 2.

CoryHolmes · #53 Posted **Jun 27, 2015, 4:36 PM**

Quote:

Originally Posted by w34lth

Perfect. I just picked up a unit for use as a rental.

Ended up buying a micro 2.

Congratz. Let us know how the renting actually works out? My friend and I talked about the rental possibilities, especially as SFU expands ever outward.

w34lth · #54 Posted **Jun 27, 2015, 5:03 PM**

Quote:

Originally Posted by CoryHolmes

Congratz. Let us know how the renting actually works out? My friend and I talked about the rental possibilities, especially as SFU expands ever outward.

Will do!

Based on current variable mortgage rates with 20% down. approx $750/month + 150 strata.

1100/month would be ideal. - Considering you only really need to bring your laptop and clothes.

pok3mytummy · #55 Posted **Jun 27, 2015, 6:20 PM**

Quote:

Originally Posted by w34lth

Will do!

Based on current variable mortgage rates with 20% down. approx $750/month + 150 strata.

1100/month would be ideal. - Considering you only really need to bring your laptop and clothes.

Congratulations! I am also considering on a unit at Prime for rental purposes. Did you find that there were mostly higher floors (therefore more $$) left now for purchase since sales started a month ago?

w34lth · #56 Posted **Jun 27, 2015, 6:59 PM**

Quote:

Originally Posted by pok3mytummy

Congratulations! I am also considering on a unit at Prime for rental purposes. Did you find that there were mostly higher floors (therefore more $$) left now for purchase since sales started a month ago?

Thank you! Which unit are you considering?

As far as I know there are only (3) micro 2's left in the building and they all face north.

I believe they are located on the 14,21 & 22nd floor.

I noticed depending on the unit the price went up $1000-2500 per floor additional to their base price.

Klazu · #57 Posted **Jun 27, 2015, 7:02 PM**

I am in the rental market myself (granted, in a completely different budget category) and I would personally not be paying $1100 in surrey for such an unit unless it would be located on top floors. But I am sure there are people willing to, so good luck.

w34lth · #58 Posted **Jun 27, 2015, 7:08 PM**

Quote:

Originally Posted by Klazu

I am in the rental market myself (granted, in a completely different budget category) and I would personally not be paying $1100 in surrey for such an unit unless it would be located on top floors. But I am sure there are people willing to, so good luck.

I would be happy with $950-1000/month. (Keep in mind I will be putting down more then 20% so the mortgage should be considerably lower)

Keep in mind my unit would come with the following

- Transit accessible
- All the furniture - Sofa, Bed, Tv - Tables etc .
- Storage Locker + Bike Storage
- 1 Free parking stall (2nd I will rent out)
- Internet / TV Included for 1 year.

A friend rented a 1 bed furnished with the basic necessitates at city point for $1150/month on a low floor.

Klazu · #59 Posted **Jun 27, 2015, 7:21 PM**

I personally put very little value on furniture in rentals as they are normally basic IKEA crap. If the furniture is nice and at least of some quality, you can get a better price.

pok3mytummy · #60 Posted **Jun 27, 2015, 7:32 PM**

Quote:

Originally Posted by w34lth

Thank you! Which unit are you considering?

As far as I know there are only (3) micro 2's left in the building and they all face north.

I believe they are located on the 14,21 & 22nd floor.

I noticed depending on the unit the price went up $1000-2500 per floor additional to their base price.

No surprise the 14th floor is still remaining considering the market.

We were considering the Micro 1's but on the fence. However, I understand since they launched the sales, they have now renamed it to Micro 2A's because they decided to add sliding walls to it. Not sure if this improves overall function or layout since they are smaller units than the original Micro 2s. We might just wait for the next phase in the Bosa developments in the area.