Over the past year or so, it has been surprising to me how low Deep Cove waterfront prices seem to be when compared to prices on non waterfront homes. Of course waterfront is still much higher than non-waterfront property BUT the difference seems to be a lot less extreme than it has been in the past. There are some great homes in the Cove listed at just over $2 million and some even under $2 million; in West Van there have been some really good prices starting in the $3 million range. For waterfront in Vancouver, these prices seem great as compared to what you might get for over a million dollars (a starter home in many neighbourhoods). There are still a lot of homes priced way too high-but some of these have ended up selling for a million under asking!
Many people think they can't or never will be able to afford waterfront property-but it is surprising how many can with the application of a bit of creativity! I recently met a couple who bought one of my Cove waterfront listings-they had been on a program to buy, fix and move up in the market with the hope of being in a Deep Cove waterfront home within 5 home purchases (I think that's what it was). It turned out they realized their dream on their 4th home purchase! If you would like more information about the best purchases to help you reach your long term real estate goals (whether or not those goals include waterfront!) please contact me by phone or email.