{"id":21126,"date":"2017-03-17T07:20:20","date_gmt":"2017-03-17T07:20:20","guid":{"rendered":"https:\/\/www.garbuttdumas.ca\/?p=21126"},"modified":"2020-04-16T19:33:42","modified_gmt":"2020-04-16T19:33:42","slug":"vancouver-expensive-move-new-west","status":"publish","type":"post","link":"https:\/\/www.garbuttdumas.ca\/2017\/03\/17\/vancouver-expensive-move-new-west\/","title":{"rendered":"Vancouver too expensive? Move to New West!"},"content":{"rendered":"

As real estate prices in Vancouver\u2019s neighbourhoods escalated out of reach, Vancouverites\u00a0looking to own their home are heading east.
\nNew Westminster Realtor James Garbutt says he\u2019s seeing more and more buyers looking at the city as an affordable alternative to Vancouver, but without giving up the amenities of city life. While $1.2 million might get you a tear-down on a small lot in East Van, in New West it can put you in a beautifully-renovated Craftsman heritage home that\u2019s centrally-located close to schools, parks, shopping and transit.
\nThe city\u2019s condo market offers similar value, says Garbutt. “Let’s take your typical 2 bedroom, 2\u00a0bathroom condo in a newer concrete high-rise. Currently\u00a0in\u00a0Yaletown<\/a>\u00a0or\u00a0False Creek<\/a>\u00a0you’re looking at $1,100\/sqft. \u00a0In Burnaby’s\u00a0Brentwood Park<\/a>\u00a0area you’re looking at $800\/sqft\u00a0, and in\u00a0Downtown New West<\/a>\u00a0this figure goes down to $625\/sqft.”
\nThat value isn\u2019t going unnoticed in Vancouver. In fact, says Garbutt, over the past year about\u00a030\u00a0percent of visitors to open houses he\u2019s conducted in New West are from Vancouver. \u00a0For detached homes in particular\u00a0the number is much higher.
\nGarbutt recently sold a beautiful\u00a0Craftsman style home at\u00a0903 Henley St, New West<\/a>.\u00a0Roughly\u00a075% of the open house visitors came\u00a0from Vancouver. \u00a0It achieved multiple offers, and the buyer\u00a0was a young professional couple from Downtown Vancouver.
\n 
\n

\"Vancouverites<\/a>
This Craftsman heritage home in New Westminster was recently sold by Realtor James Garbutt to a couple from Vancouver.<\/figcaption><\/figure>
\n 
\nFor detached, single-family homes in New Westminster sold in 2016, 51 per cent of the buyers\u2019 agents were from Vancouver, suggesting their clients likely are as well, says Garbutt. For condos, 36 percent of the buyers\u2019 agents were from Vancouver.
\n\u201cIn New West, our main sources of buyers are coming from more expensive markets, primarily Vancouver,\u201d says Garbutt.
\n <\/p>\n

Who’s buying houses in New Westminster<\/h1>\n
\"Who's<\/a>
Where buyers are coming from to buy houses in New Westminster<\/figcaption><\/figure>\n

Who’s buying condos in New Westminster<\/h1>\n

\"Who's<\/a>
Where condo and townhouse buyers in New Westminster are coming from<\/figcaption><\/figure>
\n 
\nNew Westminster is no longer a secret, says Garbutt. \u201cIt\u2019s centrally located. There\u2019s a great sense of community and local pride that many other suburbs lack. \u00a0And, quite frankly, it\u2019s the most affordable community to buy into that\u2019s within 30 minutes of Downtown Vancouver.\u201d
\nThe city is undergoing a renaissance. After languishing through the 1990s as a marketplace for cheap street drugs peddled by Honduran dealers loitering around its SkyTrain stations,\u00a0Downtown New West<\/a>\u00a0has come alive with new restaurants, with more on the way. At Eighth and Columbia Streets, the gleaming\u00a0Anvil Centre<\/a>\u00a0has replaced a squalid block of cigar shops and temporary employment agencies. The western end of historic Front Street has been opened to the sky with the partial demolition of the old parkade. The waterfront has been enlivened by Pier Park and the\u00a0River Market<\/a>.
\nThe historic\u00a0Queen\u2019s Park<\/a>\u00a0neighbourhood abounds with lovingly-restored family heritage homes along quiet, leafy streets, and the\u00a0Sapperton<\/a>\u00a0area surrounding Royal Columbian Hospital is alive with young families attracted to its affordable, smaller detached houses and new condo developments.
\n 
\n
\"\"<\/a>
The leafy streets and lovingly-restored heritage homes of New Westminster’s Queen’s Park neighbourhood.<\/figcaption><\/figure>
\n 
\nProgressive businesses like\u00a0Steel & Oak Brewing Co.<\/a>,\u00a0Brick + Mortar<\/a>,\u00a0El Santo<\/a>\u00a0and\u00a0100 Braid St. Studios\u00a0<\/a>actively promote the city far and wide on social media using the hashtags #newwest or #theroyalcity, which have more than 130,000 posts on Instagram combined.
\nTo preserve the city’s historic identity, City Hall\u00a0is taking steps to implement historic design guidelines in neighbourhoods like\u00a0Queen’s Park<\/a>. The City works with\u00a0developers to maintain historic building facades, like\u00a0the Trapp & Holbrook and the Freemasons Hall, which is\u00a0currently being transformed into a new residential development.
\n 
\n
\"Vancouverites<\/a>
The City is working with developers like Robert Fung to preserve historic facades such as the Trapp + Holbrook condo tower on Columbia Street.<\/figcaption><\/figure>
\n
\"Vancouverites<\/a>
An architect’s rendering of a new residential development being built behind the preserved facade of the New Westminster Mason’s Hall on Agnes Street.<\/figcaption><\/figure>
\n 
\nWith the pressures of growth, New West\u00a0is looking at finalizing a new\u00a0Official Community Plan<\/a>\u00a0in June (check out the 25 year vision at:\u00a0OUR CITY 2041<\/a>), that will introduce higher density in certain neighbourhoods and laneway houses\u00a0throughout the city.
\nThe city is\u00a0growing conservatively without losing its\u00a0identity, says Garbutt. It’s being proactive about managing that growth. That’s attracting new businesses and new residents. Especially from Vancouver.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

As real estate prices in Vancouver\u2019s neighbourhoods escalated out of reach, Vancouverites\u00a0looking to own their home are heading east. 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