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Posts tagged ‘duplex’

SOLD! Sooke Half Duplex For Sale – 1543 sqft 3 bedroom 3 bathroom Great Starter Home! – 2220 French Rd

Half Duplex For Sale In Sooke BC

SOLD! $287,900

Amazing value in this gorgeous, updated strata duplex at the end of a no-through street on a private lane. Nothing to do but move in and enjoy the summer in your new family home.  Read more

SOLD – East Sooke Duplex on Acreage For Sale – 6006 East Sooke Road

Well-maintained Full duplex on 2.5 acres

SOLD! $399,900 – MLS® 313726

Looking for something different? This is a rare opportunity to purchase a full duplex (not a strata) and rarer still to find it on a tranquil, sunny 2.5 acre parcel with lots of flat land. With 5 bedrooms (2 in one side and 3 in the other) this older home could use some cosmetic upgrades, but it has been well looked after over the years.  Read more

SOLD – Ocean View Semi-Detached Townhouse For Sale in Sooke – 2067 Kaltasin Road

THIS PROPERTY IS NOW SOLD!

This bright, clean, and beautifully updated ocean-view townhouse in an oceanfront complex is truly a bargain for the quality and size of the unit. Dare to compare – there are a few other homes in this price range, but all are much smaller and none have ocean views and beach access.

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What is a Strata Duplex – And Why Are They So Great?

I’ve always been a fan of strata duplexes – and I’ve never understood why some people shy away from them. Often, I find the same people who would not buy a duplex would quite readily buy a townhouse, which seems counter-intuitive to me.

A strata duplex is a duplex which is registered under the Strata Property Act. The purpose of such registration is to allow each side to have a separate title, and therefore, enable each side to belong to different owners. You could think of a strata duplex as a 2-unit condo or townhouse complex. Each side is a separate strata lot (like each unit in a condo building), and the common property is the exterior of the building including the roof, and sometimes, a common driveway. Usually the yard area is designated as limited common property: common property designated for the exclusive use of a certain strata lot.

The difference between a strata duplex and a condo or townhouse lies in the way the Strata Property Act affects the owners. Typically, strata duplexes are much less formal than condos or townhouses. Technically, they are subject to the same rules and regulations as any other strata – they must have a council, records, bylaws, collect strata fees, and contribute to a contingency fund. However, in practice, most strata duplexes do none of this. Beyond splitting the cost for insurance (a fire/earthquake policy covering the exterior of the building and common property liability) and common property maintenance and repairs (cleaning gutters, roof maintenance, etc), there is very little strata-like business that goes on in a strata duplex.

Strata duplexes are great because they are often larger and cheaper than a comparable townhouse, and don’t have some of the potential headaches that come with strata property ownership. Instead of 50 other owners to deal with and make happy, there are two. Good neighbour policy will prevail in most cases and the owners will come to an agreement about repairs and maintenance. In addition, you will often find that strata duplexes have much larger lots than the tiny postage-stamp that you’d have in a townhouse.

Sometimes, you can find a half duplex with a rental suite in it, making it ever-more-affordable and potentially attractive from an investor’s standpoint. It’s important to note, however, that most suites in duplexes are unauthorized.

If you’re considering buying a townhome or condo, you should look into a half duplex – you might be surprised to find a great alternative. If you decide to buy a half duplex, it would be wise to inquire with the owner of the other half about maintenance responsibilities. Obviously, it’s no good to replace just your half of the roof if the whole thing is getting to the point of replacement and the other owner refuses or doesn’t have the money. You’ll want to ensure the other owner is on the same page as you about replacing it.

If you’ve got a strata duplex to sell, and want an agent who understands this market segment, I’d love an interview. For more information about strata duplexes, including current listings, contact me.

Tim Ayres – Sooke Real Estate Professional

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Sooke Real Estate Under $300,000

First Time Buyer? Investor? Looking to stop renting?

There are currently 21 properties as of today (October 20th, 2008) for sale in Sooke under $300,000. And we’re not talking tiny, cramped condos or bachelor pads. The type of properties available for this price range varies from spacious condos and townhouses in waterfront complexes in the Sasseenos area, a small acreage in the Otter Point area, half duplexes in the town core, and even some under-construction brand-new townhouses. The best buy might be the 0.39 acre parcel on Church Road which will be ripe for redevelopment in the future. There are also lots of mobile/manufactured homes in Sooke for between $75,000 – $200,000.

Sooke MLS Real Estate Listings under $300,000

The link above is updated live, so feel free to bookmark it! If you have any questions about how you can get into your own home for under $300,000, give me a call at 250-885-0512 or send me an e-mail to Tim@TimAyres.ca

For your information, a $300,000 property would cost you approximately $1400 per month if you put 5% down and took out a 30-year mortgage, according to RBC’s mortgage calculator, based on a rate of 5.0%. I know several excellent mortgage brokers who can get you pre-qualified with the best rates, saving you thousands of dollars in interest.

Tim Ayres – Sooke Real Estate Professional

Your comments are welcomed and encouraged!
Just use the form or link below this post.

You can bookmark this post using the button below,
or get free updates using the big buttons on the sidebar!