Overview

Strathcona is one of Vancouver's oldest neighborhoods and is located just to the east of Downtown Vancouver. Like the neighboring Gastown area of Downtown, Strathcona is characterized by a wide range of architectural styles, with many older buildings bringing a great deal of character to the area. Perhaps typical of East Van suburbs, Strathcona has long been a diverse, working class part of the city – and that diversity has continued to grow over the years. Real estate in East Van, compared to that in West Vancouver, has traditionally been viewed as lower priced. Today, many East Van neighborhoods can easily match real estate prices in parts of West Vancouver, as the Eastern part of the city rapidly grows in popularity. Strathcona, however, continues to offer relatively affordable real estate in Vancouver; single family homes in need of some restoration are increasingly popular in the area with young professional families, looking to find a family home they can afford and potentially increase in price. Newly built condo developments in Strathcona are also attracting individuals and couples, looking to buy a Vancouver home, close to Downtown but in an area where prices still have some upward potential in the future. Vancouver's bustling Chinatown forms part of the neighborhood and there is a large population of people of Chinese origin in Strathcona.

Transport

In terms of commuting to Downtown Vancouver, Strathcona is so closely that placed that walking and biking are easy options, along with a number of public transport services offered by Translink. Strathcona is also home to the historic Pacific Central Station which today is the terminus for the cross country VIA service and also operates as a bus terminus for Amtrak and other cross country and international bus services. Canada Line connections for Vancouver International Airport are available nearby in downtown, making Strathcona possibly one of the best connected neighborhoods in Vancouver!

Schools and Universities

Vancouver School Board provides elementary and secondary educational facilities in Strathcona. Amongst them is the Lord Strathcona Elementary School, dating from 1867 and believed to be one of the oldest schools in Vancouver. The School Board also provides a wide range of alternative education options, including various language programs and adult learner programs, in Strathcona and other neighborhoods across Vancouver. Strathcona's transport links also make commuting to University of British Columbia an easy option.

Recreation and Facilities

Whether it's shopping or eating out, Chinatown, centered on Main Street in Strathcona, offers the most attractive option for residents and visitors to the neighborhood. In addition to numerous restaurants there are a high number of import stores, providing furnishings, clothing and there are also fresh and seafood markets with a distinctly Chinese flavor. The neighborhood has five parks, the largest, Strathcona Park, offers playgrounds, soccer and baseball facilities and off-leash dog areas. The neighborhood's diverse history and background have brought together many cultures over the years and this is reflected in the artistic life of the neighborhood. Home to the Eastisde Culture Crawl art festival and the Chinese New Year Parade, just two heights of the cultural year, Strathcona has a vibrant exciting arts scene that continues to grow and develop and this, along with the neighborhood's excellent links to Downtown Vancouver are likely to see it continue to increase as a place in which to invest in Vancouver real estate.

Overview

Mount Pleasant is one of several districts that make up East Vancouver (East Van). The divide between the East and West of the city has traditionally been seen as Main Street and although this line might be considered arbitrary, the respective communities to the East and West of the line have strong identities and differences. West Vancouver is stereotyped as being the more expensive side of the city but this view is gradually changing as Vancouver property prices have risen. A single family home in East Van can easily compete on price with many of those in West. The neighborhood of Mount Pleasant, like East Van in general, is seen as hip and trendy, West Vancouver is generally considered more “yuppie” in style and in attitude! Mount Pleasant real estate is considered cheaper than property in West Vancouver but this is rapidly changing. With the Vancouver real estate market extremely active and with prices rising year-on-year nearly all neighborhoods have seen significant increases in recent years. Mount Pleasant lies close to the downtown district of Vancouver and although it does remain cheaper for both family homes and condos, prices are rapidly rising and the neighborhood is likely to be one of the hottest property markets in Vancouver in the coming years. Apart from new property developments a wide range of unique bars, coffee houses and restaurants have opened in Mount Pleasant in recent years, indicating that the neighborhood is rapidly developing in popularity.

Transport

Transport links to the rest of the city and the wider region are excellent, with local SkyTrain access and also easy access to the Canada Line , both offering rapid commute times to the main business downtown district of Vancouver. The Canada line extends south Richmond and operates a branch to Vancouver International Airport, linking Mount Pleasant with the wider world! Bus services are also available which run throughout the Vancouver area and are operated by Translink.

Schools and Universities

Homes in Mount Pleasant fall under the Vancouver School Board which provides a full range of schools and educational programs. The Board provides educational services to a diverse, urban and large community and prides itself on addressing the educational needs of Vancouverites from many different backgrounds and for those with a wide range of education needs. As well as elementary and secondary schools a good selection of adult education programs are provided by the Board. University level education is available close by at the University of British Columbia and Simon Fraser University based in the Burnaby Mountain Conservation area is also easily accessible for those living in Mount Pleasant.

Recreation and Facilities

The commercial center of Mount Pleasant, Main Street, is also home to many individual and unique bars, cafes, restaurants and pubs. In terms of nightlife the hip and trendy reputation of East Van, in general, and Mount Pleasant, in particular, is well represented here! There are a number of live-music venues amongst the bars and cafes. The Omnimax theater at the Telus world of science is also close by and is described as the largest movie theater in Western Canada. Performing arts fans will love the Fox Caberet, on main street, and another movie theater, the Park Theater is located on Cambie. There are also plenty of nearby entertainment opportunities in the surrounding districts and the city as a whole. There are nine parks within the district and plenty of opportunities for recreation and exercise, with an excellent jogging trail in China Creek North Park. For more information on Mount Pleasant services and facilities the City of Vancouver website has a dedicated section.

Start by shoring up your credit.

Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.

Aim for a home you can really afford.

The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. But you’ll do better to use one of many calculators available online to get a better handle on how your income, debts, and expenses affect what you can afford.

If you can’t put down the usual 20 percent, you may still qualify for a loan.

There are a variety of public and private lenders who, if you qualify, offer low-interest mortgages that require a small down payment.

Buy in a district with good schools.

In most areas, this advice applies even if you don’t have school-age children. Reason: When it comes time to sell, you’ll learn that strong school districts are a top priority for many home buyers, thus helping to boost property values.

Hire A Professional Vancouver Realtor

Even though the Internet gives buyers unprecedented access to home listings, most new buyers (and many more experienced ones) are better off using a professional agent. Look for an exclusive buyer agent, if possible, who will have your interests at heart and can help you with strategies during the bidding process.

Choose carefully between points and rate.

When picking a mortgage, you usually have the option of paying additional points — a portion of the interest that you pay at closing — in exchange for a lower interest rate. If you stay in the house for a long time — say three to five years or more — it’s usually a better deal to take the points. The lower interest rate will save you more in the long run.

Before house hunting, get pre-approved.

Getting pre-approved will you save yourself the grief of looking at houses you can’t afford and put you in a better position to make a serious offer when you do find the right house. Not to be confused with pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history.

Do your homework before bidding.

Your opening bid should be based on the sales trend of similar homes in the neighborhood. So before making it, consider sales of similar homes in the last three months. If homes have recently sold at 5 percent less than the asking price, you should make a bid that’s about eight to 10 percent lower than what the seller is asking.

Hire a home inspector.

Sure, your lender will require a home appraisal anyway. But that’s just the bank’s way of determining whether the house is worth the price you’ve agreed to pay. Separately, you should hire your own home inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road.