Would you pay more than $5 million for this house?

Mar 21, 2018, 1:48 PM

VANCOUVER, British Columbia – A house in Canada’s British Columbia province was just put on the market for nearly $5.4 million dollars. At that price, you’d expect a mansion, but this place is far from it.

Even the listing acknowledges the 2,300-square-foot home needs some TLC. So why the break-the-bank price? As any real estate agent will tell you, “Location, location, location.” It’s located in a highly desirable section of the city. Houses in this area routinely sell for more than $2 million to $3 million dollars.

Commercial Real Estate Broker Kevin Chiang says more than $5 million for this place is steep, even for Vancouver’s West End. “At this price point, in my opinion I don’t see it. It’s quite high for the potential.”

We’ll have to wait and see what the market decides this place is worth.

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Would you pay more than $5 million for this house?