This 6-bedroom home near UBC could be yours for under $500,000 (PHOTOS)

Nov 15 2018, 8:17 pm

It’s no secret that the area around the University of British Columbia is a desirable place to call home, and one house in particular might be your opportunity to do just that.

Built in 1975, the six-bedroom, six-bathroom home is located on a quiet Cul-de-Sac, just a short walk from Pacific Spirit Park.

The home features three levels with large principal rooms on the main and a greenhouse right off the family room.

Listed by Dexter Realty, the home, which sits on a 9,850-sq-ft lot is described as “perfect for someone looking for good size quality home in a fantastic area located close to UBC, St Georges, Crofton and public schools, walking trails, restaurants, as well as the Kerrisdale and Dunbar shopping districts.”

Alright, enough about the amenities. How much does this place cost?

How about $449,000?

Yes, as in under half a million dollars.

Sound too good to be true? Well technically it’s not, but there is a catch.

Located at 4144 Tytahun Crescent, the home sits on Musqueam First Nation territory and because of this, there’s an additional annual land lease payment of $21,092 which is subject to increase in both 2035 and 2055.

The lease runs out in 2064.

And whether this home is right for you or not, now might be a good time to weigh your home options.

Home sale activity across Metro Vancouver remained below long-term historical averages in October, according to the latest figures.

In its monthly report, the Real Estate Board of Greater Vancouver (REBGV) said that residential home sales in the region totalled 1,966 last month, a 34.9% decrease from the 3,022 sales recorded in October of 2017. Last month’s sales were also 26.8% below the 10-year October sales average.

“The supply of homes for sale today is beginning to return to levels that we haven’t seen in our market in about four years,” said REBGV President Phil Moore. “For home buyers, this means you have more selection to choose from.”

And this might be one of those choices.

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