Canada endless supply of good building lots , endless supply of lumber , yet government won’t let it .. someone has monopoly on housing creating artificial high prices by making it impossible to build ..
Owner-builder here late last year it was a 3 year fight and cost me $65,000 in government redtape for the build permit for my small 1000sqft single story. The total cost of red tape will exceed $100K by the time we are completed. This $100K is more than the cost of materials. As an owner-builder I was required to write a 100 question exam. Yes, I was actually required to write a closed book exam before they would forward the permit. I would also like to build rental housing. It is illegal for an owner builder to construct rental housing here in BC. Yes, it is illegal to build rental housing. Here in Regional District of Nanaimo I have 5 acres, bylaws say on this sized land only one residence is allowed they due to density concerns. No matter how I approach this, government has made it impossible to build housing here.
Those costs and red tape is so unnecessary. And they wonder why housing has risen so fast. We have areas in Ontario. Where you can only have one structure. They will let you have a shop etc. Only in Canada.
Let me answer that for you. It costs much more for people to live, I.e. The trades people, they in turn charge builders more for there services, therefore the costs increase. Materials cost more, aluminum was 11$ a linear foot. Wood, windows, all more expensive, development charges, red tape, etc etc etc. Thats why houses cost more. Its economics.
@propertytwins Something is going to break.I bought my townhouse 17 years ago behind the Georgian mall, Basically paid off now and I want to move but I can't justify spending $60000 just to move across town, way too expensive to move let alone build
@propertytwins I really enjoy your videos mark.I have been living in Barrie since 87 Let me tell you It is really frustrating now that it will cost me about 60k to move across town into a house the same price as mine. After taxes , I bring home about 60k I refuse to bust my ass for a whole year Just so l can move across town
Think how much cheaper homes would be if development fees were lower to what they were even ten years ago and the bureaucracy of waiting so long was gone. Homes could be affordable again. And built for much cheaper than they are today. Like places like texas. Even in Alberta things are much cheaper. People need to stop voting for liberal / NDP communist governments that get in the way of productive societies.
I now see why it's such a challenge to build new construction. It makes resale look much more attractive.
I know
This video was very informative. Actually have an understanding now why I’m seeing all new builds in my area all around 800-900k
That is the reason.
Good info.
Thanks
Canada endless supply of good building lots , endless supply of lumber , yet government won’t let it .. someone has monopoly on housing creating artificial high prices by making it impossible to build ..
We know one thing. It is very expensive. Municipalities do very well with building permits and development fees.
Owner-builder here late last year it was a 3 year fight and cost me $65,000 in government redtape for the build permit for my small 1000sqft single story. The total cost of red tape will exceed $100K by the time we are completed. This $100K is more than the cost of materials. As an owner-builder I was required to write a 100 question exam. Yes, I was actually required to write a closed book exam before they would forward the permit.
I would also like to build rental housing. It is illegal for an owner builder to construct rental housing here in BC. Yes, it is illegal to build rental housing. Here in Regional District of Nanaimo I have 5 acres, bylaws say on this sized land only one residence is allowed they due to density concerns.
No matter how I approach this, government has made it impossible to build housing here.
Those costs and red tape is so unnecessary. And they wonder why housing has risen so fast. We have areas in Ontario. Where you can only have one structure. They will let you have a shop etc. Only in Canada.
It’s going to get ugly over the next few years.
I hope it doesn’t
Let me answer that for you. It costs much more for people to live, I.e. The trades people, they in turn charge builders more for there services, therefore the costs increase. Materials cost more, aluminum was 11$ a linear foot. Wood, windows, all more expensive, development charges, red tape, etc etc etc. Thats why houses cost more. Its economics.
Absolutely right.
Builders will go bankrupt because people can survive in a tent
They can’t at -30
@propertytwins If they did it 200 years ago , they can do it today
@propertytwins Something is going to break.I bought my townhouse 17 years ago behind the Georgian mall, Basically paid off now and I want to move but I can't justify spending $60000 just to move across town, way too expensive to move let alone build
@propertytwins I really enjoy your videos mark.I have been living in Barrie since 87 Let me tell you It is really frustrating now that it will cost me about 60k to move across town into a house the same price as mine. After taxes , I bring home about 60k I refuse to bust my ass for a whole year Just so l can move across town
@@jasonpost7538 THANKS FOR WATCHING JASON. I KNOW PRICES ARE HIGH AND A LOT OF THEM ARE UNREALISTIC.
Think how much cheaper homes would be if development fees were lower to what they were even ten years ago and the bureaucracy of waiting so long was gone. Homes could be affordable again. And built for much cheaper than they are today. Like places like texas. Even in Alberta things are much cheaper.
People need to stop voting for liberal / NDP communist governments that get in the way of productive societies.
YOU ARE CORRECT!!!!