8 Vancouver Houses With Asking Prices Under $1.2 Million

Price: $539,800

Features: Prepare to be wowed by the low, low price of this beautiful (and big!) 3,344-square-foot split-level home with 4 bedrooms and 3 baths, sitting on a meticulously landscaped 100×122 lot in a sought-after area, near the University of British Columbia campus.

According to the listing, the home includes “a living room, a full sized dining room, a well laid out kitchen with island, a breakfast nook, large family room [and] enclosed solarium.”

So let’s talk about that shockingly low price – of course there’s a catch! The home sits on leasehold land, which requires an annual lease payment of $23,802 until 2036 (the lease runs runs until June 2064). Because the land is leased, mortgage financing isn’t available, so only cash offers are accepted. However, when you crunch the numbers, putting $539,800 down and paying approximately $2,000 a month for a 3,344-square-foot home in a desirable Vancouver location may be appealing to some buyers.

Price: $929,800

Features: Dating from 1906, this 3-bedroom, 2-bath home is being offered for “well below B.C. assessed value,” declares the listing.

“With updating, would be nice home in popular sought-after central area,” the listing adds.

“Super investment for now and future-or build your dream home,” adds the listing for the property, which also holds the potential to build a lane house.

Price: $999,000

Features: Boasting new construction, this one-year-old home features 4 bedrooms and 3-1/2 baths within 1,548 square feet.

The open-concept living area on the main floor features hardwood floors and a step-up kitchen, with a staircase leading to second and third levels.

The modern kitchen is airy and bright, featuring granite countertops and stainless steel appliances

Price: $1,049,000

Features:Built in 1907, this 1,665-square-foot old-timer boasts four bedrooms and two bathrooms. “Very affordable home in Vancouver. Great for Starters. Only a few minutes to Downtown and Chinatown,” notes the listing (which features just this one photo). “Convenient location to shops, public transportation, schools and community centre. Bring your own ideas for renovations to turn into a nice character home. Motivated seller, all reasonable offers will be considered.”

Price: $1,099,000

Features: A 1,760-square-foot home with 4 bedrooms and 2 baths, located on a corner lot, the home is actually being sold for less than its assessed value.

The renovated kitchen opens to this south-facing deck, offering an expansive view of Richmond.

In addition to the detached garage in the laneway, the home also includes a 2-bedroom suite in the lower level (with its own laundry) as a mortgage helper.

Price: $1,125,000

Features: With 1,628 square feet of living space, this 2-storey home in Renfrew Heights has 2 bedrooms and 2 baths, and is “priced way under assessed value of $1,246,800,” notes the listing.

“This home needs a little bit of TLC,” the listing admits, and the kitchen could certainly stand an upgrade.

The mid-century modern style on display here certainly suits the home, which features original hardwood flooring. There’s also a full basement with separate entry, and the possibility of a laneway house.

Price: $1,180,000

Features: This 25-year-old house features 1,800 square feet of living space, including 3 bedrooms and 3 baths.

The kitchen appears to have been updated not long ago (although the aluminum foil backsplash behind the stove raises a question or two).

Located in south Vancouver, the listing points out that the home boasts “lane access, central location, near public transport and shops. Big dining area and big living hall with like new installed laminate floors. Large fenced front and backyard,” as well as “easy access to airport and Richmond.”

Price: $1,200,000

Features: Coming in at $1.2M, this Collingwood home boasts 1,857 square feet on three levels, with 4 bedrooms and 3 baths.

“Solid house with 2 bedrooms on the top floor, 1 bedroom on main, and 1 bedroom + den in the basement,” states the listing. “Updated kitchen and spacious living room. Potential for rental suite in basement. House is adjacent to a lane – great investment property!”