CLOSED: This discussion has concluded.

Coming Home to Unaffordability

I came back home to Vancouver ten years ago this year. After nearly a decade away in the Okanagan, where I was a homeowner; the role with my company was no longer available. So I sold my home and moved back to Vancouver and stayed with family for the first year. I eventually found an 800 square foot basement suite for $800 a month. After a couple of years, I was evicted as the owner was tearing down the house to build a new one. I next rented a 600 square foot basement suite for $1,200 a month. Within a few months, the original owner sold the house. Within another few years, I was evicted as the new owner was planning to renovate my suite in order to use the space. I am now in a rental-only apartment building in a 400 square foot studio that costs $1,800 a month. It is very small place at a very high rental rate, but I have more stability here than from where I came. I still work and spend more than half my paycheques to cover my monthly rent, but it is still cheaper than becoming a homeowner again. So as far as unaffordability goes and as crazy as it sounds, my rent is cheap compared to what my equivalent mortgage would be for a 400 square foot studio!

Share Coming Home to Unaffordability on Facebook Share Coming Home to Unaffordability on Twitter Share Coming Home to Unaffordability on Linkedin Email Coming Home to Unaffordability link