Absurd Vancouver Property of the Week (May 2, 2012)
Let’s get really and truly absurd this week. Imagine for a moment that you have won the lottery. You have $4.5 million dollars to spend on the home of your dreams. Really, since money is clearly no object, you should get the biggest bang for your buck. So…what would you choose?
How about this home, which recently sold in Vancouver’s Endowment Lands at the edge of the University of B.C.’s campus?
As reported in the Globe and Mail, the home was listed at $3,998,000 but sold in 5 days (with multiple offers) for $4,550,000…
“Within just a few days, this detached bungalow in the University Endowment Lands was surveyed by over 120 groups, including four off-shore buyers all eager to pay more than the asking price to claim the property as their own.”
To be fair, it is nice. Definitely much nicer than the other million dollar plus properties I have featured (i.e. it’s not a total tear down). Although, something tells me this beauty has a bulldozer in her near future.
But, really, if you had $4.5 million to spend, would this be your choice of home? Personally, I’d be looking for a bit more “wow” factor.
Perhaps something a little more upscale like this home in Toronto’s coveted Hogg’s Hollow/Teddington neighbourhood…
Or…and I know it’s a townhouse, but this classic Brownstone has a beautiful garden and an ELEVATOR (millionaires really shouldn’t have to walk up stairs). It’s conveniently located on a tree lined street, steps off posh Park Avenue and is in the heart of desirable Murray Hill, New York…
Or, you could rub shoulders with England’s finest by purchasing this 5 bedroom estate in London’s elite Moor Park (Hertfordshire). I can almost taste the tea and crumpets…
Or, finally, since you are a multi-millionare, why not actually live like one and buy Sly Stallone’s old gaff in La Quinta, California…
Vancouver…are you f*%#ing kidding me??
Again, location, location, location and likely another tear-down.. Guessing the lot is pretty big, too, not that that justifies it, but just sayin’.
The foreign investor that invested in this plot of land probably also own in each of the other neighbourhoods you mentioned.
Sigh….I”ll never be able to afford to move back to Vancouver.
@dinnerversions just wait until the interest rates go up. *pop*
U gotta be SHITING ME…..
bahaha on craigslist now for rent for 5K….what a deal for the owners – a .001 return on 4M
Seriously, anyone investing that kind of money in a home and renting it for a .001 return is into something sketchy….no?
Hertfordshire is not London, it’s a county outside. It’s very nice, but you can’t compare the prices to those in London itself, it’s like comparing Downtown Vancouver to Maple Ridge.
I thought Hertfordshire was pretty posh and exclusive, like West Vancouver….not Maple Ridge.
There is one crucial part to this property that has been overlooked. We all know what a good decision it is to lease a sports car right? The endowment lands are leasehold, which means for 5 million you are leasing the house.
I would like to point out the biggest feature of this property which has been overlooked. We all know what a good decision it is to lease a sports car right? The endowment lands are leasehold property, which means you are paying 5 million to lease this house.