New Pointe of View condos in Saddleridge?

[Canucks3322]

http://www.canada.com/story_print.html?id=4147330&sponsor=

What do you guys think? You get what you pay for?...

[Swank]

I hate condo fees, never again :thumbsdow

[Meback]

Builder is pointe of view. Stay faaaaaaaaaaarrrr away.

[Zewind]

Originally posted by Meback
Builder is pointe of view. Stay faaaaaaaaaaarrrr away.

If there is one piece of advise you ever take from Beyond - let it be that.

[corsvette]

I heard about these today and they sound interesting to me...i'm not up to speed on whats so wrong with pointe of view, anyone care to elaborate?

[Hakkola]

There are several threads suggesting that POV condo's are shit, just do a quick search.

[t-im]

Originally posted by corsvette
I heard about these today and they sound interesting to me...i'm not up to speed on whats so wrong with pointe of view, anyone care to elaborate?
Shitty everything. They've had a (justifiably) crap rep for years now.

[InRich]

WAIT A SEC am I reading that right????
units of 742 square feet at $139,900. if thats true I'll buy two right now, just as rentals....

[spikerS]

dude, POV condos are shit. the prices are low, but that is because they hire grade 4 kids to build them, and have crazy high condo fees. Not a word of a lie, my friend has a condo in tuscany built by POV, and it looks like the front door is not level, nope, thats the wall, the door is level, just has a huge gap at the top, and none at the bottom. it looks so horrible. they are truly the worst builders I have seen.

[FraserB]

Yeah, mine had the door problems that Spikers described. Plus walls that had weird slopes at the top and a slanting floor. The lobby and halls were done 3 times in the 9 months I was there and it was always a crap job.

[Ven]

POV's boom time builds were quite sketchy. Their pre-boom stuff is really good, so hopefully the post-boom stuff will be good too. I think they'd make good rentals anyway. Also the Riverside Quays along Blackfoot Trail are in trouble and have started discounting the properties. Another good rental option IMHO.

[Pacman]

Originally posted by Ven
POV's boom time builds were quite sketchy. Their pre-boom stuff is really good, so hopefully the post-boom stuff will be good too. I think they'd make good rentals anyway. Also the Riverside Quays along Blackfoot Trail are in trouble and have started discounting the properties. Another good rental option IMHO.

Why are the Riverside Quays in trouble? To many units vacant, or structural issues?

[r3ccOs]

Outside of the one they built next to China town, I would not concider these "good" rentals...

value for dollar IMO isn't there, when there isn't that much structural put into those things in the first place.

To me, they are just eyesores that litter a good amount of cities/towns across western Canada

[dennisaur]

good thing i read the reviews for pointe of view here first. you guys know of any more condo developments coming up?

[whiskas]

Originally posted by spikers
dude, POV condos are shit. the prices are low, but that is because they hire grade 4 kids to build them, and have crazy high condo fees.

I know a contractor who did work on a POV building before. The management ordered him to cut corners and do shitty work, they just don't give the contractors enough allowances for quality work.

He told me it was the first and last time he will ever do work for them. Also had quite a few stories about all the mistakes made during the building process and the hilariously shitty repair jobs to coverup the mistakes.

[blitz]

Why the hell would they keep the POV name under a corporate restructuring? It would seem like the perfect time to ditch it and get rid of the horrible reputation.

[BananaFob]

Originally posted by Pacman


Why are the Riverside Quays in trouble? To many units vacant, or structural issues?

Disputes between the partners involved. It's going to court.

[Azncowboy]

We've had to pay $2800 in underground parking repairs, because POV builders cut corners. Not fun

[revelations]

Originally posted by Azncowboy
We've had to pay $2800 in underground parking repairs, because POV builders cut corners. Not fun

You mean a 2800$ special assessment for each unit or $2800 for the whole parkade (which doesent sound a lot for a condo complex).

[Masked Bandit]

Originally posted by InRich
WAIT A SEC am I reading that right????
units of 742 square feet at $139,900. if thats true I'll buy two right now, just as rentals....

Ya, until you as the landlord get hit with a special assessment for major building repairs three years after you get the keys:

"Hello Mr. InRich, here's your $9800 per unit invoice. We take cash or cheque".

No thanks. I think one of the buildings in Shawnessy ended up having to sue POV for mold issues shortly after construction was complete.

[Sugarphreak]

...

[dimi]

A family member designed one of the POV condos a while ago (structural engineer).

My one word of advice: RUN. You have no idea how cheaply built/ dangerous these things are.

You give the workers the drawings and then they go build it the way they want, not following any of the details, and using the cheapest materials out there.

RUN

[Canucks3322]

Well, the prices are super low and I know of POV's reputation...hence the comment, you get what you pay for.

I dunno, I think at that price, it's good for people like myself who can't quite afford something decent yet. But the special assessments thing really scares me...might be better off just saving up some for a year or two and buy something of higher quality and avoid the headaches.

Might sound like a dumb question...but do condo fees ever include utilities like heat, water, electricity?

[colsankey]

At POV yes, water heat and electricity are covered in your condo fees.

[Azncowboy]

Originally posted by revelations


You mean a 2800$ special assessment for each unit or $2800 for the whole parkade (which doesent sound a lot for a condo complex).

each unit had a different price they had to pay. Mines a larger unit, so it was a larger price tag

[revelations]

Originally posted by Azncowboy


each unit had a different price they had to pay. Mines a larger unit, so it was a larger price tag

Ya, but still - nearly 3k$ out of your pocket because POV did a shit job.

Weve had a few hundred dollar assessments at my condo because Resiance (now defunct) did a piss poor job with the in-floor heating system and wall insulation.



Is your board planning on taking POV to court still?

[msouther]

I am aware of a high rise condo complex of 200+ units that has structural issues and is undergoing some demo and repair in every one of the units. This building is a rental building so nobody in there owns their units, but still wonder how safe it is. It was built by POV.

I bought a POV as my first property ever and made good money on it because I sold in the boom. I don't expect the market to be like that again anytime soon so if you are trying to sell, it might be tough.

These properties are generally very affordable which is good because you can create positive cash flow right away as a rental property. The problem is when they raise up the condo fees to the actual amount that is required, or they issue a massive special assessment. That can eat into your investment very quickly. Also, future resale on this can also be a problem as issues can easily be discovered by a buyers agent by viewing the minutes and condo docs. It also appears that the acronym POV has a negative stigma attached to it as well.

Do you research before you buy is all I am saying. What is written above is only my personal experience.