You’ve heard it about Housing in Vancouver, but we’ll tell you more.
- Imran
- Apr 5, 2018
- 4 min read
Updated: Oct 31, 2019
We all have lived here; we love the beauty and nature. Let’s not forget the weather; it doesn’t snow here, as much here other places in Canada at least. Moving forward with the topic, we all know how expensive the housing market is in Vancouver for the millennials especially when you live alone. We all have heard how crazy expensive it is to live in Vancouver and the housing bubble makes it hard. Many individuals and families have moved from the province or move out away from the Greater Vancouver area to establish a more stable life in an economical friendly environment.
Despite being an expensive place in western Canada, there are still many of us who like to stick around this expensive paradise. Unlike eating in a mediocre restaurant that is often overpriced and overhyped. Having lived in Three cities within the Lower Mainland, Vancouver is beautiful not just the downtown, waterfront area but the whole Greater Vancouver in itself. The majority living here are health freaks and prefer living a healthier lifestyle.
If you were to ask me Vancouver is like a Brand, the popular it gets the more the value and reputation increases. As beautiful it is, the more its brand equity increases and its reputation get spoiled because of the cost of living. Majority millennials and students share their accommodations with other roommates so that they are saving some money but how much is that making any difference. What intrigues me, if living with family and other people helps save money then living alone in Vancouver is far from cheap and affordable.
Gone are those days where even a bachelor suite would have one person living with comfort and affordable. To show the economic lifestyle and how expensive Vancouver can be. Daily hive broke down the monthly costs for individuals living and renting in downtown Vancouver. This is also when he/she is also trying to have extra time & cash when they can.
Gone are the days of hand-me-down homes from parents, and affordable down payments for mortgages – adulthood vacation is over. So, to show how expensive this city is, we broke down monthly costs based on a single person living and renting in downtown Vancouver (while trying to have any life).
Disclaimer: Might want to settle down in a chair while reading this.
Recently, the city of Vancouver listed its most affordable housing at $1,730, just for a one-bedroom apartment. I know right, that almost two-three weeks paycheck for many individuals. That is the most affordable price, so imagine some places with prices higher than that. According to websites like Numbeo, the website compares global cities that help renters compare the costs of living. The average cost of renting is in the heart of downtown area costs $1,926.97 currently that does NOT include utilities such as hydro and internet.
The website also averages the cost of utilities at $82.10, and average internet costs up to $72.49. Upon adding up, you can expect to dish out at least a minimum of $2,081.56.
Cell phone plans costing up to $75 a month, before the new 10Gb for $60 plans on bringing your device began (BYOD). Getting a plan that included 2GB or 3GB for $50, Vancouverite would go crazy. If that is how much a plan with BYOD costs imagine getting a phone on a 2-year contract.
Vancouver is also known for its public transit accessibility to the majority parts of the Lower Mainland and the popular cities. Average transportation costs can average at $93.00 a month that’s if you get a One zone pass. One zone can get you around but at the opportunity costs of taking the buses more than the Skytrain and spending more time just commuting.
Some other main expenses:
Groceries/Household Items: $315.00
Entertainment/ Dining Out: $270.00
Partying: $120.00
Health and Fitness: $75
Coffee: $40.00
Extras: $125.00
We always need groceries; a recent report showed an individual spends $211.97 per month on groceries, and adding any drugstore item or prescriptions would result in an average of $315.
We all like to take a break from cooking and washing dishes, therefore, we decide to eat dinner and lunch outside. Sometimes even brunch while catching up with someone not to forget the cold beers and the party atmospheres. A three-course meal for two at a mid-range restaurant costs $70.00 (excluding booze) and the additional $30.00 for drinks. That’s is just for one night, if you decide to get a three-course meal in one-night living in Vancouver, that is.
Let’s not forget to party, we deserve a break from the stressful life we have, whether you are a student or work full-time. Going to grab a drink (or five) for the average price of $10 per drink in downtown and not to forget the fours weekends. Per month. With a minimum of 2-3 outings, we are looking at an average of $90-$120 per month. Finally, if you are a party owl, let’s not forget that late-night poutine you will be purchasing.
Vancouverites like to live a healthy lifestyle. From gym memberships, paddling or boating adventures, you are looking to spend another $75.For the caffeine folks, we all need that morning coffee that we always forget to have at home when we are running late for school or work from the local coffee shops in downtown, some of them featuring Alfred Drinking Coffee. Your caffeine addiction can make spend up to an average of $40.00, and don’t forget that donut every once in a while.
Lastly, let's not forget other extra miscellaneous expenses we have like shopping, haircuts, clothing, etc. An average spent by a Vancouverite in $125 a month.
-Imran Walli
post year 2018
http://dailyhive.com/vancouver/minimum-amount-need-live-alone-vancouver-2018
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