You hear it all the time “Breaking News, Point Grey Tear-down Sells For $2.4 Million”, however, we all know that the media likes to over hype everything and takes things way out of perspective. Even two years ago spending $2.4 Million dollars for a tear-down was nothing out of the ordinary, especially in the neighbourhood of Point Grey. Point Grey has been the most desirable area to live in since I can remember. This area boasts some of the most expensive homes currently for sale in the Vancouver Real Estate Market. The Point Grey neighbourhood is that of what Rolls Royce is in the automotive industry – beautiful, superior and exclusive.
Let’s think of it from a developer’s point of view; for a developer picking up a tear-down in Point Grey for $2.4 Million Dollars in today’s real estate market is a steal, as they can easily make a profit of $1 Million Dollars.
Don’t believe me? Lets do the Math:
Purchase Price: $2,400,000
Cost of hiring a Builder: $21/Sqft x 2,800 = $58,800
Construction Cost: $200 x 2,800 = $560,000
Total Cost: $3,018,800
Selling Price: $4,300,000
Subtract Total Cost: $3,018,800
Subtract Agent Commission: $117,600 (Including GST)
Net Profit: $1,163,600
If you’re looking to make a hefty profit yourself, please don’t hesitate to contact us at sales@myhomesearch.com
Click Here to Search For Point Grey Real Estate
Images Provided By: RE/MAX
You all probably know her; daytime talk show host, comedian, actress and one the TV’s top personalities “Ellen DeGeneres”. With an estimated net worth of $300+ million dollars it’s not surprising that she recently purchased an $18 million dollar house located in Trousdale Estates, Beverley Hills, California. Hey? The pricing seems pretty identical to the Vancouver Real Estate market don’t you think?
This single story “rancher” has 8,500 square feet of living space with four bedrooms, six bathrooms and was designed by Hall Levitt – a well sought after American architect. This beautiful home has it all: a monolithic entry colonnade, a soaring marble atrium, 15 foot floor-to-ceiling glass walls, a glorious outdoor living space and a custom made outdoor pool.
Lets just have the pictures speak for themselves (Please Note that the images are not the greatest):
Are you looking to purchase a home similar to Ellen DeGeneres’s? Although we may or may not be able to find you a home that is identical to it in the Greater Vancouver or the Fraser Valley Region, but we will try our best to find you a beautiful custom home that best suits your needs; so please don’t hesitate to contact our professional real estate team at Info@MyHomeSearch.com
