Peter Simpson
Sun
David and Carrie Campbell will make their next home in a a two-bedroom, twobathroom townhouse in the Serenity new-home project from Polygon Homes and located atop Burnaby Mountain. ‘Our first choice was a singlefamily home, but with our upper limit of $300,000, we realized we would not be able to buy that kind of home in an area close to our jobs, so we set our sights on townhomes in the 850-square-foot-plus range and ended up paying $309,000 for 1,170 square feet,’ David reports.
Most people remember the first time. Every April the Greater Vancouver Home Builders’ Association presents a seminar for first-time home-buyers. Consistently attracting a standing-room crowd of 800 plus, the seminar is the largest and most comprehensive of its kind in North America.
Surveys conducted at the annual seminars reveal the needs and expectations of the typical first-time home buyer. Recently I contacted some of the people at last April’s seminar to determine, eight months later, if they were still looking, if they had given up, or if they had bought.
Of the six individuals and couples with whom I spoke — and they were selected randomly, their “stories” unknown when I went looking — all have purchased homes.
The folks I interviewed are bright, responsible, goal-oriented twenty-somethings who are optimistic about their future, although a tad apprehensive about diving, headfirst, into the homeownership pool. Heck, I was cold-sweat frightened to death when, in my early 20s, I bought my first home. Nervousness is a normal reaction, particularly in the Lower Mainland where high real-estate values present formidable financial challenges for first-time buyers.
People close to David and Carrie Campbell likely wouldn’t place home ownership anywhere near the top of their must-do list. They met while backpacking in exotic locales and travelled together for seven years through Australia, India, Nepal, Cambodia and Africa.
Married six years, the couple finally settled in Greater Vancouver, Carrie’s hometown. David is originally from South Africa. David, 28, and Carrie, 30, have purchased a two-bedroom, two-bathroom townhouse at Polygon Homes’ Serenity project atop Burnaby Mountain.
The project is adjacent to Simon Fraser University and amenities of UniverCity Highlands village centre. The community is promoted as a peaceful setting with urban conveniences, including a range of shops and services and excellent transportation links.
“We were looking for a year and a half. Every time we found something nice, it was gone, sometimes for up to $20,000 over the asking price. It has been a frustrating, stressful period in our lives,” said David, a lighting consultant whose workplace is located on Annacis Island.
“Our first choice was a single-family home, but with our upper limit of $300,000, we realized we would not be able to buy that kind of home in an area close to our jobs, so we set our sights on townhomes in the 850-square-foot-plus range and ended up paying $309,000 for 1,170 square feet,” David reports.
David said he and his wife found the seminar advice was a useful tool in their homework process and have no fears about taking the plunge.
He said they are both happy to be putting down roots in Burnaby, although he did express a slight concern with falling into a tied-to-the-home lifestyle. The Campbells eliminated one costly expense by selling one of their two vehicles. David said he needs his car to conduct business, but proximity to reliable transportation links is key for Carrie, a government employee in Vancouver.
“I need my car during the day but Carrie’s more predictable office hours enable her to travel between home and work on public transit,” said David.
David said issues important to him during the home search included builder reputation, warranty and sense of security.
“We currently rent an apartment in a problem building in East Vancouver. My car was burglarized twice and the building has been broken into many times. We are certainly looking forward to moving into our own place in a safe, secure neighbourhood,” he said.
Although he preferred to leave preferences on the townhouse’s interior features to his wife, David said he appreciates their new home’s design details, including brick accents and lightweight concrete soundproofing.
He also plans to take advantage of the fitness facilities on the SFU campus.
Carrie prefers new homes over resales. “I like the fact the home is brand new with a well-designed open-concept plan and I find appealing the separate dining room and eat-in kitchen with direct access to the patio.
“Also, the master bedroom and ensuite, which has double sinks, stand-up shower and soaker tub, can be closed off from the rest of the home when friends and family visit,” said Carrie. “And I can finally get a dog.”
There is one hitch. David’s parents don’t know the kids have bought their first home. David intends to tell them today. Hope he reveals the good news before his parents read the column this morning.
In contrast to the many thousands of travel miles logged by David and Carrie Campbell over the years, Abby Reyes and Reggie Sami, both 26, consider themselves homebodies, perfectly content to stay home, watch movies, play board games and hang out with their friends.
Abby and Reggie attended our seminar, learned from the experts, then immediately started searching for their first home.
Dating for four years, and engaged last Christmas, the couple plans to tie the knot in May, a month after taking possession of a new 855-square-foot, two-bedroom, two-bathroom condo at Liberty at Southlands in the popular East Clayton community in Surrey.
“We looked at townhomes first, but the prices were out of our range. We decided to go to the bank for pre-approval on a mortgage loan, then a mortgage broker worked with us to find the best place at a price we could afford. Three weeks after the seminar we purchased our condo from plans at a presentation centre. We were ready to buy and we didn’t want to waste any more time,” said Abby.
Abby, a tech-support person for a marketing firm in Surrey, lives with her parents in Surrey. Reggie, who works in quality assurance for a Burnaby software company, lives with his folks in Vancouver.
“We have supportive parents who are happy with our decision. My dad instilled in me a set of values and sense of responsibility, and he encouraged me to invest in RRSPs when I was 18. Reggie started investing last year. We plan to put down 25 per cent of the $176,000 purchase price,” said Abby.
“At our age, to make two big life decisions (marriage and home purchase) around the same time was nerve-wracking. We are very excited, but also a little afraid of the mounting responsibilities, including making sure we have enough money to pay a whole new set of monthly bills.”
Although the couple is taking on new responsibilities, Abby said she and Reggie are determined that homeownership won’t prevent them from going out to the movies, restaurants or other forms of entertainment once in a while. They intend to work hard to ensure there is a balance in their lives.
“The condo’s layout appealed to me, including the master bedroom with full ensuite bathroom and separate four-piece bath adjacent to the second bedroom. And because we bought at the pre-construction stage, we get stainless-steel appliances, granite countertops and laminate flooring,” Reggie says.
”I also like the community’s natural surroundings, pond, nature trail and nearby stores.”
Worried about leaky-condo problems, Reggie stressed that a strong warranty was important to him.
Because Abby and Reggie plan to drive their vehicles to and from their workplaces, public transit was not a consideration in their purchase decision. In fact, two underground parking stalls are included.
“We have to buy a lot of furniture. So far we have a bed, nothing else,” said Abby.
David, Carrie, Reggie and Abby are off to a great start as they embark on an exciting new chapter in their lives.
Both couples move into their new homes exactly one year after they attended our seminar in April. I asked them to keep in touch to share with me their homeownership experiences. Perhaps they would speak at our seminar after a year in their homes. Now that would be educational.
Peter Simpson is chief executive officer of the Greater Vancouver Home Builders’ Association. Email:
[email protected].
© The Vancouver Sun 2005
