A Metro Vancouver home is available for just $200K, so what's the catch?
A home listed for $199,000 in the Metro Vancouver municipality of Delta tells us that affordability isn’t impossible when it comes to owning property.
We found a unique home in the rural Ladner area of Delta that could be someone’s mini dream pad.
Despite what it lacks, it might be one of the cheapest properties classified as a detached home in Metro Vancouver.
But what’s the catch?
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Sutton Group Seafair Realty
Listed by Sutton Group Seafair Realty, the one-bedroom, one-bathroom float home features 499 sq ft of space.
As the front of the home shows, this property has been nicknamed “The Sweet Spot.”
Sutton Group Seafair Realty
According to the listing, the home offers unobstructed views of the river and mountains and the unique ability to launch a canoe or kayak right from the deck.
Sutton Group Seafair Realty
When it comes to a potential catch, there isn’t one, except that the home could use some improvements.
The pictures show a home needing love, which the listing does not hide, suggesting that “it is in need of TLC and renovation.”
Sutton Group Seafair Realty
The listing states the interior is a blend of eclectic and vintage decor, “and it is a canvas waiting for your personal touches.”
Sutton Group Seafair Realty
The marina where the home is located also has caretaking staff.
The BC Assessment listing suggests the land value here is only $900, and the building is worth around $94,400 for a total of $95,300, well below the assessed value.
REW estimates that the monthly mortgage would be well below the average monthly rent in Vancouver.
For anyone looking for a peaceful waterside lifestyle, this could be the opportunity of your waterside dreams.