East Vs. West #3: What the Benchmark House Price Will Buy You

Date
13.04.2016
Words by
Vashti Singh
East Vs. West #3: What the Benchmark House Price Will Buy You hero imageEast Vs. West #3: What the Benchmark House Price Will Buy You hero image
We take a look at current listings to compare the single-family home options in East Van and the West Side in part three of our East Vs. West series

No other housing types in Vancouver have seen such dramatic price increases as detached houses. The Real Estate Board of Greater Vancouver puts the benchmark price of a detached home in Metro Vancouver at $1.34 million, and in Vancouver proper, that rises to a whopping $2,035,100.

For our previous condo and townhouse East Vs. West comparisons, we used the benchmark prices for the whole of Metro Vancouver. However, with the market as hot as it is, there are currently no West Side detached houses listed at $1.3 million, so we have used the Vancouver proper benchmark for this comparison.

With that $2 million figure in mind, we set out to compare homes around that price that are currently available in East Van and the West Side.

The differences between East Vancouver and the West Side that we previously found with our condo and townhouse comparisons are amplified in the scorching hot detached house market. In East Van, we found new or newly renovated houses at approximately $650 per square foot, while on the West Side the pair of liveable three-bedroom homes that we selected were both $1,000-plus per square foot, while a Kits house converted into three rental suites on an undersized lot was still listed at more than $800 per square foot.

At the end of the day, however, options exist in both parts of the city – if you have the money. On the East Side you’ll likely find a nicer, larger home and better value, while the West Side may deliver a smaller home but one that may escalate in value more quickly. Which is worth more to you?

Click through the links to find more details on each property. As the properties are sold, the listings may no longer be available.

Mount Pleasant, East Vancouver

$1,998,000

Six-bedroom, five-bathroom house

Lot size: 33 feet x 122 feet (4030 ft²)

House size: 3,056 square feet

Price per square foot: $654

Year built: 1910

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houses/East vs West Houses_Mount Pleasant.png

This large Mount Pleasant home has over 3,000 square feet of living space plus a 439 square foot garage/studio. The house was built in 1910, but major, permitted renovations in 2010 have given the home a fabulous open kitchen with stainless steel appliances, family room with gas fireplace, all new oak floors, big mudroom and heated floors on all three levels and the garage. Three bedrooms up as well as a new bathroom, plus separate one-bedroom and two-bedroom mortgage helper suites down below. The home also features two balconies, a 400 square foot attic and keyless entry.

Collingwood, East Vancouver

$2,168,000

Six-bedroom, four-bathroom home

Lot size: 44 ft x 114 ft (5040 ft²)

House size: 3020 square feet

Price per square foot: $718

Year built: 1993

collingwood housecollingwood house

collingwood house

This European-built home is on a huge lot in Collingwood and is walking distance to elementary and secondary schools, as well as parks, restaurants, shops, Metrotown and great transportation links. The house has six bedrooms and four bathrooms, radiant heating, and a bedroom in basement with a separate entrance.

Renfrew Heights, East Vancouver

$1,989,000

Eight-bedroom, seven-bathroom house

Lot size: 32 feet x 109 feet (3630 ft²)

House size: 3,069 square feet

Price per square foot: $648

Year built: 2015

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This custom-built one-year old house comes complete with one-bedroom laneway home. Highlights include high-end stainless steel appliances, built-in convection and steam oven, wok kitchen, quartz countertops, high ceilings, crown mouldings, custom flooring, built-in vacuum and a security system. The home is still under its 2-5-10 warranty. Enjoy your stunning mountain and city views while soaking in the spa tub on the deck!

Dunbar, West Side, Vancouver

$1,998,000

Three-bedroom, two-bathroom house

Lot size: 33 feet x 110 feet (3630 ft²)

House size: 1,960 square feet

Price per square foot: $1,019

Year built: 1932

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This charming little home is in Dunbar, one of the West Side’s most prestigious neighbourhoods, which means it's sitting on a prime slice of land. This bungalow features a generous-sized living room and formal dining room with a bright, west-facing kitchen. If you’re looking to renovate or rebuild, you’d be rewarded with fantastic mountain views from upper floors. And, as is expected in this tony neighbourhood, you’ll be close highly-desirable schools, parks and retail.

Marpole, West Side, Vancouver

$1,983,000

Three-bedroom, one-bathroom house

Lot size: 33 feet x 114 feet (3790 ft²)

House size: 1,900 Square feet

Price per square foot: $1,043

Year built: 1948

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houses/East vs West Houses_Marpole.png

This home is part of a four-lot assembly site on Oak Street. While the listing notes it’s ideal for a developer to buy all four homes and build a complex, it also adds this clean and well-kept three-bedroom home is fully equipped for someone to move into, with oak floors, double-glazed windows and a huge family room. Either way, the location gives quick access to both downtown and YVR, as well as popular schools.

Kitsilano, West Side, Vancouver

$1,900,000

Six-bedroom, three-bathroom house

Lot size: 30 feet x 75 feet (2250 ft²)

House size: 2,327 Square feet

Price per square foot: $817

Year built: 1914

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houses/East vs West Houses_Kits.png

One for the investors among you: this house in the heart of Kitsilano has been converted into three suites. Each suite has two bedrooms and is completely self-contained and separately metered. This fabulous location is close to the beach, and steps away from transit, shopping and schools.

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