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Originally Posted by lio45
IIRC, condos didn't gain anywhere near as much value as detached houses did, right? Had you owned a shitty cookie-cutter bungalow anywhere in Van, you could still trade it for something gorgeous in Montreal, guaranteed.
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The gain was relatively modest compared to detached but they're still up around 2x from 10-15 years ago and in most times and places that would qualify as a big gain. Lots of average-ish condos are $600,000-900,000 now. It still seems bonkers to me.
Townhouses followed the condo appreciation curve if I recall correctly but they're almost all strata too in BC, so they're basically condos with condo fees and a ground floor entrance.
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Montreal values went up sharply lately, as well. The best time to swap Van real estate for Mtl real estate was likely a few years ago. Van has kinda plateaued for the last couple years, I believe. So, unfortunately for you, you wouldn't get as much Westmount bang for your traded-in Vancouver Real Estate buck now as you would have not too long ago.
(On a related note, I believe the Halifax-Vancouver ratio has followed the Montreal-Vancouver ratio, the best time for that sort of swap was earlier, not now.)
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Yes, around 2016 or so was the peak. Realistically I don't feel like moving though or maintaining a house in multiple locations. You could get a nice historic Halifax house for the price of a Vancouver condo in 2016 but not late 2020. More and more houses there are $1M+. The mill rate on those will also be much higher. Looks like in Montreal lots of places are $1-2M+ now. I have considered just spending a couple months in the summer in Montreal sometime, renting an apartment for a while and working rather than doing a shorter visit.
(I'm probably too conservative with buying and selling real estate but I appreciate investments that require ~0 work.)