It is "a nuisance and a hazard." 🏠
House prices in B.C. just got even more incredible, with this rundown shack being valued at $1,457,000.
The home is covered by shrubbery and is on a relatively small piece of land. Yet, somehow it is still super expensive.
It's actually in such bad condition that the City of Port Coquitlam ordered the owner to demolish it in June 2021. The report from the council meeting said that it is "a nuisance and a hazard as it creates an unsafe condition and is a danger to public health and safety."
The house, located at 2224 Mary Hill Rd., looks to require a little bit of tender loving care.
According to BC Assessment's website though, it has some kind of value — over a million dollars to be exact.
The website's 2022 assessment of the home estimated the value as of July 1, 2021. It said that the land is worth $1,447,000 and the building is only worth $10,000. This is a big jump from the previous year's value when the building was worth $4,900.
Although the building itself isn't that expensive, it's still a shockingly high price for a home that looks completely unlivable. The land holds the majority of the value, but at 7760 square feet — and not very well maintained, it seems like it still doesn't seem worth it.
The website also said that the house was built in 1953, has three bedrooms, and one bathroom.
With rising house prices in Canada and in B.C., this might just be a new reality.