Buyers, Champlain Heights Real Estate, Condos, East Vancouver Market, Knowledge, Neighborhood Spotlight

Written by Matt Scalena PREC April 8, 2024

Located in Southeast Vancouver, Champlain Heights is a welcoming community for families looking to plant roots in a vibrant yet residential neighborhood. Its unique blend of natural beauty, an abundance of parks, and residential charm makes it an attractive option for those seeking a family-friendly environment at an affordable price point in the City of Vancouver 

We highlight here:

– The current trends in Champlain Heights’ real estate market.

– Strategies to find a family-friendly home in Champlain Heights.

– The advantages of raising a family in Champlain Heights including key amenities & shopping areas

Champlain Heights

Champlain Heights, a quaint neighborhood nestled within the bustling city of Vancouver, offers a rare blend of tranquility and community vibrance, making it a top choice for families seeking the best of both worlds. Celebrated for its lush green spaces, well-kept residential areas, and diverse community, Champlain Heights presents a distinctly residential feel while being minutes to the best shopping & amenities Vancouver has to offer.

A Family-Friendly Community: Champlain Heights is celebrated for its strong sense of community and family-oriented activities. From playgrounds and parks to community centers offering programs for all ages, the neighborhood is designed with family life in mind. Much of the housing was built when Vancouver prioritized family homes so it attracts people looking for families at a relatively affordable price.

Access to Amenities: Despite its serene setting, Champlain Heights is conveniently located near essential amenities, including:

• Champlain Square: Positioned as the heart of Champlain Heights’ shopping scene, Champlain Square offers a diverse range of stores and services. From grocery stores like Safeway for your daily needs, to pharmacies, and a selection of dining options, it’s a one-stop-shop for residents.
• River District Crossing: This newer development caters to a growing community, featuring modern retail spaces, a large supermarket for groceries, and various eateries. Its location near the Fraser River adds to the shopping experience with scenic views.
• Marine Way Market: A short drive from Champlain Heights, Marine Way Market provides a broad selection of retailers, including big-box stores like Canadian Tire and Best Buy, making it perfect for electronics, home goods, and more. The area also boasts several dining options ranging from fast food to sit-down restaurants.
• Metropolis at Metrotown: Though a bit farther, Metropolis at Metrotown is accessible and offers an unparalleled shopping experience. As British Columbia’s largest shopping centre, it features over 400 stores, services, and entertainment options, making it a popular destination for those willing to venture a little beyond Champlain Heights.
• Kingsway Corridor: For a more eclectic shopping experience, the Kingsway corridor, stretching towards the heart of Vancouver, offers a variety of specialty shops, international cuisine, and services. It’s an excellent spot for those looking to explore diverse cultural offerings.

Outdoor Recreation: For families who love the outdoors, Champlain Heights has it all. With numerous parks, cycling paths, and recreational areas, including:

• Champlain Heights Park: Known for its spacious playground and sports fields, this park is a favorite among families. It also features walking trails and picnic areas, making it a perfect spot for weekend family outings.
• Everett Crowley Park: As one of Vancouver’s largest parks, Everett Crowley Park is a haven for nature lovers, boasting extensive walking paths, off-leash dog trails, and stunning views. Its commitment to environmental restoration is evident through the native plants and wildlife that thrive here.
• Killarney Park: Offering a wide range of recreational facilities, including an outdoor pool, soccer fields, and basketball courts, Killarney Park caters to sports enthusiasts and families looking for active recreation.
• Fraserview Golf Course: Bordering Champlain Heights, Fraserview Golf Course provides a scenic backdrop for golfers of all skill levels. Its lush fairways and challenging layout make it a premier golf destination in Vancouver.
• Central Park: Though just outside Champlain Heights, Central Park in Burnaby is easily accessible and offers a large variety of recreational activities, including tennis courts, an outdoor swimming pool, and walking trails through its rich forest.

This neighborhood not only offers a safe and secure environment for families but also nurtures a lifestyle where community and nature go hand in hand. Champlain Heights stands as a testament to a community built on the values of inclusivity, health, and well-being, making it an ideal place for families to grow and thrive.

Vancouver Leasehold Properties For Sale by Scalena Real Estate

7844 Marchwood Place – Offered at $1,089,000

7810 Marchwood Place – Offered at $1,129,000

7711 Teakwood Place – Offered at $1,049,000

City of Vancouver Leaseholds

The City of Vancouver has a number of neighborhoods where leasehold property is common, but it often is misunderstood by potential homebuyers. 

Unlike freehold ownership, where one owns both the land and the home outright, leasehold means you own the home outright but only lease the land it sits on from the city for a predetermined period. 

What Are City of Vancouver Leaseholds in Champlain Heights? 

In Champlain Heights, many properties are built on land owned by the City of Vancouver. Homebuyers in these areas paid for the right to use the land for a period of time (a prepaid lease, usually for 99 years) from the time the housing was built. 

So, if you are looking to buy today, you will want to know exactly how much time is left on the lease from the City of Vancouver.

Impact of a Pre-Paid Lease on Property Values:

City of Vancouver Leaseholds are especially common in developments designed to provide affordable housing options. Leasehold properties can be more affordable upfront compared to freehold homes, making them an attractive option for families looking to live in desirable neighborhoods like Champlain Heights. 

As displayed in the chart for real estate prices over the last decade below, comparing Champlain Heights to the larger region, one can see that property values appreciate alongside broader market trends. 

However, the value of a leasehold property can be influenced by the remaining term of the lease; properties with many years left on their lease are typically valued higher than those nearing the end of their terms.

Also, there is a considerable portion of the buyer pool that wants to own the land outright and will not consider leasehold properties. Therefore, with a smaller market, one can expect a potentially longer period to find the right buyer.

Vancouver Home Price Index – Champlain Heights Real Estate Pricing over the Past Decade

Tips for Buying a Home in Champlain Heights

Purchasing a home in Champlain Heights, renowned for its family-friendly atmosphere and community-centric lifestyle, requires a strategic approach to navigate the market effectively. Here are some tips to help prospective buyers find their perfect family home:

Understand Your Needs: 

Begin with a clear list of what you need in a family home. First & Foremost, consider whether a City of Vancouver leasehold will work for you or would you only consider freehold. Both options are available but it is not always clear which is which from the listings. 

You will also want to consider the number of bedrooms, square footage, age of home, yard space, proximity to schools, and other amenities important to your family’s lifestyle. 

We do have a research tool that can differentiate between leasehold & freehold as well as only show you homes that match your criteria with data such as sold prices updated in Realtime. It’s free!

Research the Market: 

Stay informed about the Champlain Heights real estate market trends, including average home prices, inventory levels, and how long homes stay on the market. You will also want to get out to some open houses or through private showings to see some homes. You want to see the good, bad & the ugly so you can make an informed decision and spot a good deal when you see one.

A knowledgeable local agent can be invaluable in your search. They can provide insights into the neighborhood, help navigate the complexities of leasehold properties, and identify listings that meet your criteria before they’re widely advertised.

Explore the Neighborhood: 

Spend time in Champlain Heights to get a feel for the community. Visit local parks, schools, and community centers to see if the neighborhood fits your family’s lifestyle. Engage with residents to gain insights into living in the area.

Consider a Leasehold Home for your family:

Leasehold properties in Champlain Heights offer families a way to access a high-quality living environment at a more accessible price point. This is the “missing middle” housing that everyone has long been calling for in Vancouver. The neighborhood’s parks, schools, and community centers are within easy reach, providing a balanced, family-friendly lifestyle.

Plan for the Future: 

Think about how your family’s needs may evolve over time. Buying & Selling real estate is expensive no matter how you slice it. A home that suits you now should also have the potential to accommodate your family as it grows or changes.

Champlain Heights, with its unique blend of urban accessibility and natural beauty, presents an attractive option for families.

In this post, you learned about:

• – The current trends in the Champlain Heights real estate market & the many amenities the area has to offer
• – Strategies for finding a family-friendly home in this cherished neighborhood 
• – City of Vancouver Leaseholds: what they are and what are the limitations of these properties
• – The multitude of benefits that come with living in Champlain Heights for families looking for a blend of city life and green space.

As you consider your next steps, whether you’re just starting your search or looking to sell, we would love to help by providing tailored advice for homes in Champlain Heights.