Port Moody

I would say the Tri-Cities offer the perfect blend between “city” and “suburban” living. You have the option to visit the Burquitlam area, as an example, where you have density, a number of amenities, shopping, restaurants, but then also have beautiful parks, greenery, and are a short distance to the ocean and mountains in Port Moody. You feel a great sense of community.

The benefit to living in the Burquitlam area is that you’re more accessible to the highway, closer to Vancouver should you need to commute there. I find home seekers who are more drawn to Burquitlam are often young professionals who might have to commute Downtown Vancouver for their work. They get the best of both worlds as they’re a short distance to all of Port Moody’s popular amenities.

In reference to Central Coquitlam, you get the accessibility should you need it, as well as larger, flat lots. Depending on the area in Port Moody, [in comparison] you can find slightly more affordable options as well.

I find that the market has held relatively well over the past couple years despite the market cycle we have gone through. I believe this is due to location. During the pandemic boom, home buyers were willing to sacrifice location for a larger home. Now, it seems buyers are once again favouring location, which has benefited a market like the Tri-Cities.

Burquitlam has undergone massive change. Growing up, not far away, the area had very little development, and was not somewhere many spent much time. Now, you have a ton of residential towers, low rise buildings, and a number of shops/amenities which has had the area boom.

Central Coquitlam has remained relatively the same over recent years. You do have higher density redevelopment off Austin Avenue, however, much of the single family product in the area are older homes on larger lots. You have seen developers build new homes on some of the lots in the area. We will see what happens to this area over the next few years.

I believe in Burquitlam you will continue to see more high and low rise residential buildings as well as townhomes come in. There is still a reasonable amount of growth possible for this area.

For Central Coquitlam, I feel we will see more density in this area. How much is the question. I believe this will depend on what builders see feasible for the area based on economic factors like costs and re-saleability.

What’s great about these communities is you have an array of options. No matter where you are in life, you have an option that could be suitable for you and your family. In Burquitlam, you have low rise condos, high rise condos, and townhomes. A large majority of the product is newer. In Central Coquitlam, you primarily have single family detached homes and ½ duplexes. You do have some older townhome options in this area as well.

Of course! I always tell my clients that if you want a deal, you have to be willing to write on a few properties to find the deal. You won’t know the seller’s motivation until you have put forth an offer. Having said that, if you are someone who is looking for something relatively specific, it can be harder to find that “bargain.” It really depends on what is important to that specific home seeker.

You have it all. In Burquitlam, you’re predominantly newer. There are older condo units available but much of it will be redeveloped in the coming years. In Central Coquitlam, you have a mix of circa 1970s homes, into the 1980s, and then newer construction of homes that have been redeveloped in around the past 20 years. You can find older townhome options in Central Coquitlam that come at a more affordable price. It’s a real mix.

In Burquitlam, buyers are looking for convenience. Slightly more affordable compared to a place like Brentwood, for example, but much of the same benefits. They’re looking for that walkability in their day-to-day life, being near SkyTrain which makes it easy to commute.

In Central Coquitlam, the area attracts mostly families, looking for that sense of community, highly ranked schools, and accessibility. The school system is split into Elementary, Middle, and Highschool so the kids are all similar ages. There are recreation centres scattered throughout the area with awesome programs.

I feel the areas offer a number of options at various price points so with the right strategy, it can be rather seamless to get the right property! First, you’ll want to decide what’s most important to you, the budget you’re comfortable working within, then meet with an agent who can put the plan in action.

I find the clients I have worked with over the years have been quite happy with their decision to purchase a property in the Tri-Cities. Many have not called me to sell, so I guess that’s a good sign? Haha. Living in these areas nearly my entire life, I love it.

Over the past ten years, we’ve seen home prices increase rapidly in the Tri-Cities. I still feel there is room for growth when you compare it to a city like Burnaby. Burquitlam is about 10% – 15% more affordable than Brentwood, for example. And Burquitlam has much more room for development so I see an area like this to increase at a strong rate over the mid-long term.

Nothing stands out particularly to these locations, however, like I tell all my clients, always think about the future re-saleability of the property you’re purchasing. Look at what could be built in front of you in the future. The type of street you’re on. Noise levels. The quality of the strata. The quality of the build. The list goes on but it’s an important part of the process when making such a large investment.

I am really looking forward to the time Burquitlam Plaza gets redeveloped. This is the mini strip mall directly out front of Burquitlam SkyTrain Station. It’s in a premium location, the hub of Burquitlam, and it will be exciting to see what sorts of shops and restaurants are added below when that time comes.

It truly is a mix. I would say in Burquitlam, it’s predominantly young professionals and younger couples getting into the market. You see young families moving into the townhome product. Then you have a mix of families and the older demographic living in the detached homes and half-duplexes in Central Coquitlam.

I believe over the long run, we’ll see additional density brought to the Tri-Cities area. This is needed. We will just have to see how dense. I feel this will depend on building costs and what is feasible for a developer to deliver to the marketplace. Nonetheless, we should see more affordable options brought forth which is great for home seekers looking to get into the area.