Cambridge House Micro Homes

[artistwithaflare]

Micro Homes ( Cambridge Homes ) on Ethel Street is a great concept for ''affordable living'' and downsizing !
but lets be honest here...the rich investors are buying all the units up and plan on renting them out for 1,200 a month!!
Kelowna does not fall in the area of affordable living, period.

[W105]

wow !! $1200 per mth for 300 sq ft..unreal

[Symbonite]

Well if they can rent a place thats 300-400 sq ft for 1200 basically the size or smaller of a batchlor suite then for my 900-1000 sq foot basement suite i can rent out for a bargain at 1800 a month. Great for me. Bad for affordability

[goalie]

Yep same kinda flipper people that took a bath in 2009 when they couldn't get approval for a mortgage once the building was finished.. The sheep will continue onwards.

[Frisk]

http://www.castanet.net/edition/news-story-174897-1-.htm#174897

I want one. I love tiny homes like this.

[Barney Google]

They are quite inventive but not for everyone.

I'm all for downsizing the MEGA sized life some have but

living in mini close quarters could, at times, prove 'interesting' for some couples.

[artistwithaflare]

The rich investors will buy them all up on day one and then rent them out for 1.200-1,800/month!
Lets face it, there is no affordable rent in a rich city and landlords take advantage of that.

[W105]

basically this is just a smaller condo..wonder what the strata fees will be ???

man, Kelowna is just getting outrageous for ripping off people for their housing needs...

it would be cheaper to buy a used RV (and park it at Walmart..lol just joking) and pay $600 per mth to rent in an RV park

[JayByrd]

The rich investors will buy them all up on day one and then rent them out for 1.200-1,800/month!
Lets face it, there is no affordable rent in a rich city and landlords take advantage of that.

First they are buying them, then they will buy them. And the price increased to $1800 in the hour between your two posts. Do I hear $2500?

Either you're talking out of your whatever, or there's a level of sarcasm that's going over my head.

[GordonH]

Those who are buying for an investment, will try to get as much as possible in rent. Those willing to rent for those prices are going to, downsizing within ones means.

[JayByrd]

basically this is just a smaller condo..wonder what the strata fees will be ???

man, Kelowna is just getting outrageous for ripping off people for their housing needs...

it would be cheaper to buy a used RV (and park it at Walmart..lol just joking) and pay $600 per mth to rent in an RV park

I don't know why the strata fees would be particularly high.

I don't see how this property is a ripoff either. There isn't much else in that price range to compare it to. I suppose if you compare the price to say, 1/4 of a modest, older full size house, yeah it doesn't match up well.

And the downside of your suggestion is that one would then be living in a used RV, which lose their value very quickly, if you can sell them at all.

It would also be cheaper to rent a one bedroom apartment or a basement suite, but if purchasing at Cambridge is an option for someone, they probably wouldn't go that route.

[Even Steven]

I might be buying one as an investor. Don't know about $1200/month, seems like too much. But even at $900/month it will be a nice cash flowing property.

Don't be fooled though, their per sq. foot rate is around the same as Central Green and Sunset building, just around $450/sq foot.

By the way, these are strata fees:

Studio $142.88; 1 Bedroom $206.93; 2 Bedroom $433.56

[jetty1965]

I want to buy one so I can move my son out of my house.

[Graham Adder]

I think you'll find that these units are to be sold with stipulations denying rentals.
I've known about this development for a long time, and have been excited to see it come to fruition.
I think Kevin and his peeps have done a fantastic job of making the best use of the space by integrating simplistic yet functional design elements with quality appointments to keep the feel upscale. European's have been using their spaces wisely for decades and this development showcases some of that ingenuity in an environment that is Kelowna-Klassic. All about the look and feel.
Downsizing is easy to do when you start from nothing.
These places will appeal to younger downtown business class as well as some students that seek that night life appeal. The entry pricing is well suited to those with incomes that are difficult to manage in our downtown housing costs.
They will also hold a lot of appeal to older folks that want to live close to amenities and not be house-broke.
This is a new wave, and I think the crew onboard this one have opened the doors with a bigger bang than a Hindu wedding.
A great investment for those that want a brand new home, in downtown Klicksville without the left one and your first born price tag.

[Even Steven]

I think you'll find that these units are to be sold with stipulations denying rentals.
I.

That's incorrect.