Vancouver is one of Canada’s most popular cities, and not without good reason. Geographically, it sits on the west coast, home to beautiful scenery and a pleasant climate, and is only a short drive from the border with the US, Canada’s southern neighbour. However, property prices do sit more highly than in many other Canadian cities, but the temptation to rent rather than buy should not be immediately given in to.
Cost-wise, if you have enough for a down payment on a house, and plan to stay in Vancouver long term, it’s worth looking at East Vancouver houses as well as all other areas, considering how much more practical it will be in the long-term. Vancouver is renowned for being a pricey place to live, but houses in the surrounding areas are still affordable, and any savings are undoubtedly welcome.
The East Vancouver Advantage
There are also a number of other reasons why buying over renting is a good decision in this city. East Vancouver houses for sale are still out of reach for many residents, so for those who can buy, the opportunity to become a landlord is an attractive proposition. Rent payments are often more than a mortgage payment, and even with the various insurance and letting costs associated with being a landlord, this can still be a nice earner for relatively low input.
But even for non-residents, Vancouver properties present an attractive locale for a weekend getaway, as well as for business trips in the continent of North America. With the advent of ‘peer renting’ websites, a low key Vancouver property can easily be rented out by the day, week or month, netting the owner even more than if they had rented the property out long term. With the city reaching out to investors the world over, business and leisure travellers are flocking to Vancouver so property really is a hot commodity.
Of course, these are only some of the reasons why buying a home in Vancouver makes good business sense, especially when done with the help of professionals like Real Estate Van. Do not forget that it is also just a great place to live, with people often visiting and deciding to stay; it’s locale, lifestyle and liberal attitude alone are enough to make people buy a house in this vibrant and loveable city.
Why are Vancouver homes among the most expensive in North America?, Financial Times
10 most expensive cities in Canada, Readers’ Digest