Article
June 01, 2008
Money in the Bankview
Single condo owner sees investment potential
When he decided to move, he looked at condos in Bridgeland, Kensington, and Mission before choosing his two-bedroom one-bath townhome.
“I looked for three weeks, all in or near the core. In Bankview, there were better price points and I got more bang for my buck. The view was a determining factor, too.”
He also saw the potential in his unit in the 28-year-old complex. “Right now, I see my home as a bit closed in and dark, but once I renovate the kitchen and bathroom, knocking out the wall between the kitchen and living spaces, it will be brighter and more open. I also want more contrast in my décor, still keeping it minimalist, though. I may change the flooring from carpet to cork. I really like the stainless steel surround (installed by a previous owner) around the wood-burning fireplace. It will be my starting point for the renovation. I have already replaced the old dishwasher with a new stainless steel one!” With his connections in the housing industry, James foresees his kitchen renovation completed by the end of the year.
The move meant downsizing from just over 2,600 square-feet to 1,000 for James who admits the purge that ensued was rather tough. He noticed when moving back in the summer of 2007 the amount of storage space his new townhouse lacked, “so I opened up a larger access to my attic. I discovered a lot of room up there!” He bought an attic ladder to access this newfound room. “It’s been handy and it has a double benefit,” James explains. “There are vents up there. In the summer, when it gets hot up here, I pull down the attic ladder to cool my place down.”
This young, single professional enjoys his electronic toys. He has a 42-inch wall-mounted LCD television in the living room above the fireplace, connected to his Wii, allowing him to play games, as well as a MediaGateTM to watch downloadable programs from the ’Net. He also has his desktop and lap top computers neatly tucked away in his desk area under the stairway to the second floor, a great use of an often-underutilized space.
“It’s easy to move from activity to activity in this area,” says James. Meanwhile, his stereo system is found in a re-designed IKEA bookshelf framing the comfortable leather couch in the living area, as are two autographed pictures, one from Brad Pitt and the second from Casey Affleck. “I was an account manager at the Sheraton Eau Claire during the filming of The Assassination of Jesse James and had the opportunity to meet both actors—who, by the way, were really nice guys.”
Other photos gracing James’s walls and atop the shelving unit, include snaps taken by a friend, as well as others taken in near and far-flung locations James has lived, including Milan, Dublin and Orlando.
His place is also far from the typically dark bachelor pad. “I am very cognizant of lighting,” explains James. “I like lighting that shines up. I don’t like to see the bulbs.” He has two unique floor lamps, also from IKEA, behind his leather chair in the living room. “I like indirect, reflective lighting.”
One flight of stairs connects James from the outside to the first level, with the second set of stairs leading to the two bedrooms and single bath. “The stairs keep me fit! They can be a challenge, too, after a session of hot yoga,” something James, 27, has taken up recently. “The room is usually maintained at a temperature of about 30 Celsius and 55 per cent humidity, with moves designed to compress certain organs, promoting a lot of sweating which rids the body of toxins.” One of his neighbours is the class instructor.
James also participates in Super Jock, where every Tuesday, he and about 40 other men rotate through various sports. “It can get very competitive,” he says.
He shares his townhouse with a roommate and, in hindsight, realizes he likely should have chosen the bedroom he rents out as his own. The view to the north is fantastic, Nose Hill Park can be seen in the distance, and downtown Calgary is plain as day from the room. “It is beautiful at night, too,” he notes.
In both bedrooms, ceiling fans keep the spaces cooler in summer. “I upgraded the one in my room since moving in. It has a dimmer and a remote control.” Also found in James’s room is a wall-mounted TV and stereo system. “I think I will upgrade the stereo system someday and put this one in the bathroom.”
James also shares his home with a second roommate, a three-year-old husky-border collie cross, Morphea. “Calgary is a very dog-friendly city with a lot of off-leash areas,” he says. Morphea’s favourites are Edworthy Park and nearby River Park, a short distance away at the end of 14 Street S.W.
James sees the pros and cons of condo living as two sides of the same coin. “There is no yard maintenance, but then again I don’t have a yard for Morphea. The condo fees cover many things, but we recently had an assessment to improve and upgrade our decks and that is going to cost more money.”
He also feels his proximity to other people occasionally, but that’s generally shortlived—only as long as it takes to admire his impressive view. “I could be in Banff when I look out at the mature pine tree,” he says, adding the grove lends him “100 per cent privacy” on his south-facing deck.
Having the capital to put into a house in the downtown core was not a viable option for James, but his hunt for home ownership opened up the condominium lifestyle for him. And there’s been no looking back.