House Hunting in One of the Priciest Cities in the World: How to Find Affordable Housing in Vancouver

It’s a known fact that Vancouver has one of the most expensive housing markets in the world. It was ranked third by one survey and is considered as the least affordable in all of Canada. The Vancouver real estate market is seriously getting out of hand that people are already protesting the high rates or lining up by the hundreds to view a 2-bedroom co-op rental.

But being a major city and a highly progressive one at that, people will continue to migrate to Vancity. The culture, career opportunities, and overall atmosphere of this metropolis is hard to resist.

If you’re one of the many who want to find a way to work and live in Vancouver without spending all of your earnings on your housing, there are a few ways how you can find affordable housing in this city. What are they? Here are a few:

Do a Lot of Research

Some neighbourhoods are more expensive than others so don’t waste your time looking at apartments in the areas that you can’t afford. Even if they might be closer to where you work, you might be better off looking for apartments or houses elsewhere. With the stiff competition for housing in Vancouver, you shouldn’t really dilly-dally when looking for a place to stay.

Try to learn all of the details you need to know to find the best neighbourhoods for you. Compare the housing prices in the various neighbourhoods and check how the commute will be like for you. Do not forget to look at the statistics, too, as you’ll also want to live somewhere safe and with good amenities.

Ample research will help you narrow down your scope and maybe even speed up your search. It can be time-consuming on its own, but it will surely be worth it in the end.

Don’t Just Rely on the Internet

When looking for a place, you’ll most likely use different listing websites, social networking sites, and other classified ads websites. They’re very easy to navigate and will surely give you a number of options in no time. Unfortunately, they can also give hundreds of other house hunters the same information you got, so expect some competition.

So aside from using the web for your house search, you should also give local information boards a shot. Look at community bulletin boards and other places where ads can be placed, ask around, check the local papers’ classified section, and keep your eyes peeled for vacancy signs outside buildings.

Consider Co-Op Housing

There are hundreds of co-op housing options in Vancouver. However, availabilities can be quite rare. Staying on standby would be a good idea if you want to cut down on your housing expenses but if you’re in a rush to find a new place to stay in, it might not be the best option.

Spread the Word

Letting everyone you know that you’re looking for an affordable place would also help you find one. You never know, someone you know at the gym might know someone else who is looking for a roommate.

When looking for an affordable rental in Vancouver, however, you should always make sure that the units you’re considering to rent are legal rental suites. A lot of homeowners with detached suites aren’t licensed to operate such, so there’s a high chance that you’ll come across some.

While the repercussions will hit homeowners harder than the tenants, you can save yourself from the hassle of eviction in case your landlord gets busted for their illegal operations. You can also better protect yourself if you’re on the side of the law in case something goes wrong between you and your landlord.

If you’re looking to buy an affordable property, on the other hand, be very thorough in inspecting everything. Be very particular about the documents and paperwork and make sure to inspect the property thoroughly. This way, you can be sure that you’ll make the most out of your investment.