Calgary real estate prospects

[beyond_ban]

That's not a condo.

https://www.royallepage.ca/en/proper...4/mlsa1015644/

That's a condo.

[Buster]

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That's not a condo.

https://www.royallepage.ca/en/proper...4/mlsa1015644/

That's a condo.

@JordanLotoski , who buys something like this?

Are they looking for security basically? Because at that number, I assume you can pay people to handle the hassles of owning an actual house (maintenance, and lawn etc).

[killramos]

People who want to pretend like they live in a real city?

[SkiBum5.0]

I was in Mahogany meeting someone last week and I thought they are getting very close to what the really good master-planned communities in TX such as Cinco Ranch, and the Woodlands have. Family oriented amenities (lakes, parks, grocery, hospital) while still being close enough to downtown for commuting. That area around Analog also has a very “City Center” feel about it for those who have been to Houston. https://citycentrehouston.com/

When City Center was built, people said the same thing about it - “who would live there?” Now it’s an in demand, residential and commercial location.

[ExtraSlow]

Agree that the City Center development in Houston does have a pretty nice mix of office/commercial stuff, I've had a few meetings there.

[killramos]

How do you define “close enough”? Like in comparison to airdrie or okatoks?

I would kill myself if I had to make that drive twice a day every day forever.

Mahogany is fine if you don’t have to work downtown, if you can get over the whole cookie cutter monotonous suburban lifestyle thing. Commute and the suburban thing are both deal breakers in my books I don’t care how cheap it is.

[pheoxs]

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That's not a condo.

https://www.royallepage.ca/en/proper...4/mlsa1015644/

That's a condo.

My guess with something like that is you're paying for the views and the prestige. For someone that doesn't want to drive/commute to downtown it'd be ideal, the space of a house, better views, and can low key flex on people and just point to your place at any point walking along the river. I bet most people would take that patio over a backyard anyday. That being said... 8 million is way too much for that.

[JohnnyHockey13]

I find it hilarious they mention the gym, as if the owner themselves would ever go to a shared gym.

[bjstare]

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My guess with something like that is you're paying for the views and the prestige. For someone that doesn't want to drive/commute to downtown it'd be ideal, the space of a house, better views, and can low key flex on people and just point to your place at any point walking along the river. I bet most people would take that patio over a backyard anyday. That being said... 8 million is way too much for that.

But then why not just live in Mount Royal? Sure you have to get in your car for 5 min to get to work, but literally everything else about it is better. Maybe Buster was on to something with the security thing? More secure than other condos since there's a concierge guy at the front to prevent people from tailgating to get inside. idk. It's an astronomical amount of money and op cost (look at those condo fees) for a place like that, in a location that has more vagrants than anywhere outside east village.

[ercchry]

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@JordanLotoski , who buys something like this?

Are they looking for security basically? Because at that number, I assume you can pay people to handle the hassles of owning an actual house (maintenance, and lawn etc).

In my experience, old bitter rich guys; mainly as a “fuck you” to the leeches they call family, gonna burn it all and leave them nothing!

But for real; overwhelming anecdotal evidence of this, including one that sold a $4m TO detached home and RENTED a $8k/month condo. Why? Cause he could do it with the proceeds till he died.

Oh, and another one: 100% cause it’s less suspicious to fuck hookers in a condo than a detached house with nosy neighbours. True story

[ExtraSlow]

I fyou like to travel, condo is so much less hassle than a detached house, even if you outsource all the lawn/snow stuff. Condos like that are a good example of people exchanging money for time.

[killramos]

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I fyou like to travel, condo is so much less hassle than a detached house, even if you outsource all the lawn/snow stuff. Condos like that are a good example of people exchanging money for time.

But to Busters point. If you are spending that kind of money you aren’t doing any home maintenance yourself anyway.

[pheoxs]

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But then why not just live in Mount Royal? Sure you have to get in your car for 5 min to get to work, but literally everything else about it is better. Maybe Buster was on to something with the security thing? More secure than other condos since there's a concierge guy at the front to prevent people from tailgating to get inside. idk. It's an astronomical amount of money and op cost (look at those condo fees) for a place like that, in a location that has more vagrants than anywhere outside east village.

That goes back to prestige. You take someone out to the River cafe, having the Chefs tasting menu sitting on the patio and chatting about where you live and you just point over and say see that building? The entire penthouse is mine, want to go check out the view from there? Versus, yeah I live in Mount Royal surrounded by all the other mansions we have to drive by to get to my place.

It's just a different level of flex. I walk through Mount royal a lot and while you have some breathtaking properties but you still either look at trees or at your neighbors. Maybe you're on a slight incine and can see over the trees and a bit of downtown but otherwise that's most of your view. Versus hey I have arguably the best view in downtown. I think its just different priorities, especially if its a single/couple versus family with kids. Raising a family in that condo would be dumb.

[suntan]

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In my experience, old bitter rich guys; mainly as a “fuck you” to the leeches they call family, gonna burn it all and leave them nothing!

But for real; overwhelming anecdotal evidence of this, including one that sold a $4m TO detached home and RENTED a $8k/month condo. Why? Cause he could do it with the proceeds till he died.

Oh, and another one: 100% cause it’s less suspicious to fuck hookers in a condo than a detached house with nosy neighbours. True story

Jesus, I thought the International Hotel was good enough.

[ExtraSlow]

Clearly there's a market for that kind of condo, and honestly, I can totally see myself living in one if I was a rich asshole. Mount Royal does not appeal to me at all. But I guess there's a market for that too. Individual preferences are like that, rarely wrong, just individual.

[suntan]

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That goes back to prestige. You take someone out to the River cafe, having the Chefs tasting menu sitting on the patio and chatting about where you live and you just point over and say see that building? The entire penthouse is mine, want to go check out the view from there? Versus, yeah I live in Mount Royal surrounded by all the other mansions we have to drive by to get to my place.

It's just a different level of flex. I walk through Mount royal a lot and while you have some breathtaking properties but you still either look at trees or at your neighbors. Maybe you're on a slight incine and can see over the trees and a bit of downtown but otherwise that's most of your view. Versus hey I have arguably the best view in downtown. I think its just different priorities, especially if its a single/couple versus family with kids. Raising a family in that condo would be dumb.

I'll take the trees, privacy and the private pool house.

Also just LOL at not having a jeeves drive you everywhere.

There's a house in LMR with a really nice garden that I used to walk by. I ended talking to the son of the owner, he had just passed away and they were going to list the house for $800K. I should've bought it.

[killramos]

So what I’m hearing. You buy that condo because you are a douche.

If I wanted to own a place just for the point of flexing, it sure as hell wouldn’t be in Calgary.

[Buster]

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Clearly there's a market for that kind of condo, and honestly, I can totally see myself living in one if I was a rich asshole. Mount Royal does not appeal to me at all. But I guess there's a market for that too. Individual preferences are like that, rarely wrong, just individual.

There are no right or wrong preferences. There is only market price. We shall see.

Woodlands has all of those head offices to generate it's own GDP the size of a small nation. Mahogany just as the hospital I think.

- - - Updated - - -

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People who want to pretend like they live in a real country?

FTFY

[Tik-Tok]

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So what I’m hearing. You buy that condo because you are a douche.

If I wanted to own a place just for the point of flexing, it sure as hell wouldn’t be in Calgary.

You buy a condo for your long term mistress.

[JordanLotoski]

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@JordanLotoski , who buys something like this?

Are they looking for security basically? Because at that number, I assume you can pay people to handle the hassles of owning an actual house (maintenance, and lawn etc).

Nobody, that's a seller who is dreaming of 150 oil prices