Can you afford a house in Greater Vancouver? Don’t be completely discouraged by media that constantly tells us it’s impossible if you’re not a double income family each earning 6 figures.
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According to the July 2014 report from the Real Estate Board of Greater Vancouver (REBGV), the benchmark price for a typical single family detached house in Greater Vancouver is $980,500. While it’s really pricey to be a homeowner in Vancouver’s Westside, West Vancouver and South Burnaby, there are a few areas with house prices well below this average.
1. Squamish
Squamish is one of the most beautiful places for living in Greater Vancouver and at the same time one of the most affordable. The benchmark price of a detached house in July 2014 was $537,100.
From downtown Vancouver the commute is almost the same as to Maple Ridge, and with beautiful mountain and ocean scenery en route! Squamish is famous for unforgettable West Coast culture and some of the world’s best outdoor recreation. You will also find there the best mountain biking and hiking trails, world-class rock climbing, ski and snowboard resorts. It is a safe place to live, it has a relatively mild year-round climate, a strong public school system, shopping malls, public transportation and mountains in all directions. The arts scene in Squamish is also something of note. It’s home to multiple dance companies and theatre groups, and has countless musicians, photographers and other artists abounding.
Downtown Squamish condo real estate is seeing a lot of movement lately and prices are on the rise, as are townhouses and detached houses. While prices have been slowly but steadily rising, you can still buy a detached house for much below the average Greater Vancouver price. For example, this gorgeous 4 bedroom detached house at 23-40137 Government Road in Amblepath, Garibaldi Estates, Squamish is listed at only $640,000, compared to similar properties in Central Lonsdale, North Vancouver, which are selling for twice that price.
2.Bowen Island
This is a great place for laidback rural living, perfect for nature lovers. It is a bedroom community easily accessible by water taxi from Granville Island and Coal Harbour (foot passenger only), or by ferry from Horseshoe Bay. The benchmark price of a detached house in July 2014 was $594,500. It’s a quiet, safe place to raise a family and a beautiful escape from the big city. You will find clean beaches for swimming, sheltered bays, many options for kayaking and hiking, a public elementary school, private school, and many alternative schools and home schooling support, 2 main grocers, artisan shopping, a recreation centre, art galleries and more – everything you could possibly need. Bowen Island will be especially attractive for artists, writers, musicians, photographers and anyone with a flexible work schedule due to its abundant natural beauty and serenity.
3. Maple Ridge
With the benchmark price of a detached house being $474,300 (July 2014), Maple Ridge is the most affordable area for home buyers. The district offers a public transportation system, abundant shopping and recreation facilities, great schools with excellent arts and sport programs, local service clubs and environmental groups, and an arts center. It is surrounded by beautiful natural settings and is home to the ever-popular Golden Ears and Coast mountains.
When choosing where to live, consider not only the price of a house, but also such important things as: proximity to the employment, access to rapid transit, walkability, crime rates, community demographics, location of schools, weather and aesthetic appeal. Think about your leisure activities as well: people are happiest when they live at or very near to where they spend the most amount of time outside of work (within reason of course).
Written by: Vlada Terenina; a contributing writer at 604 Now. She is also a Marketing & Communications Specialist at Kristine Krynitzki Real Estate where she works with a REALTOR© Kristine Krynitzki on helping Vancouverites find their dream home or successfully sell their real estate. In her spare time, Vlada enjoys discovering new restaurants and places in Vancouver, hiking, reading, and listening to music. Follow her on Twitter: @VladaTerenina
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