We partnered with a great blogger this week! Check out Dear Dharma’s Q&A on the Real Estate market in the North Burnaby area and let us know what you think!
I live in an upcoming neighbourhood in Burnaby North. I’ve been a homeowner for a long time and seeing the changes gives me a mix of emotions.
My kids grew up here and we are lucky to call most of our neighbours our friends. Our local mall is being converted to a monster mall with a bunch of towers and of course that will change the density of the population around us.
We already see a lot more traffic and with all the construction, it is hard to even park on our own (quiet) street.
My question is: Should I wait and see exactly how much more the neighbourhood will change once all these people move in? Or should we pack and run before the madness begins?
Burnaby or Bust
Oh, trust me when I say I completely understand what it feels like to live in the middle of a construction war zone. As we speak, my whole house, along with my head, is vibrating with the noise from some massive, nasty looking machine as they rip apart the lot directly outside my window in order to put in yet another condo complex. Which, when complete, will block my view and any natural light in the process…
But hey, this isn’t about Dharma, right? It’s about you – and I have to say I’m not the best person to answer this question. I know nothing about real estate (my mother just cringed)…
But as good fortune would have it, I do know someone in the field who actually works the area in which you live, and she was kind enough to take on this question for us. So I’m going to turn you over to the lovely Diana Klejne, who will be able to give you some things to consider when making this decision.
Thank you for sending this question my way, Dharma! I’m more than happy to help…
This is a very common concern for a lot of families in these high developed areas, especially now by the Skytrain stations, such as Brentwood and Lougheed Mall.
The construction and road crews will be scheduled to work for at least another 10+ years, just based on the most recent development by Concord 10 towers… And not to mention the 11 at Brentwood Mall… the list goes on.
To move or not to move – that is the question…
This is a personal preference, that’s for sure, and we would never encourage anyone to move if they weren’t ready to. My job is to support people in their decisions, whatever they are.
I would say if your children are grown up and no longer living with you, I would possibly start looking at the option to purchase something out of town, in a more quiet area and to think about the retirement years now. This would possibly be a purchase at a lower price point, so you can take out some equity out of your current home, use the money to travel, invest, or for the grand kids.
If you are a young family and your children are going to school here, and you are working in the city, it might be a good idea to stay a bit longer and not face the potentially long commute into town. Though if you are willing to change your lifestyle, and you are seeking less density, maybe a move is the right thing for you – I am all about doing what makes you happy. Don’t let your house tie you down!
Whatever you decide we are more than happy to assist in any way we can, so please feel free to be in touch – we are happy to offer any information required at no obligation.
So there you have it! And since you are in the North Burnaby area, here’s a great blog Diana puts out that I’m sure you will enjoy!