Most co-ops in Vancouver can be found in the Westend and in the Oakridge area.
However, my buyer found this gem in South Granville. He was able to purchase a 965 square foot one bedroom home for only $575,000. The impediment for many people buying a co-op is the required 35% minimum down payment. As well, the lesser known ownership style confuses people (you are buying shares in a company that owns the building and the land), and so they pass over even looking at co-ops.
They are generally concrete buildings, built prior to 1970, avoiding the whole leaky condo period. Rooms are spacious, windows expansive and many have retained the beautiful hardwood floors.
Co-ops can also have more restrictions like a 19 minimum age requirement, no rentals or no pets. Before you can purchase, you need to be approved by a board of directors.
For this 9 suite building, EVERYONE that lived there had to approve.
I am a big fan!
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