Real Estate

Living comfortably in Vancouver?

  • Last Updated:
  • Aug 18th, 2021 8:58 pm
[OP]
Member
Mar 26, 2013
424 posts
63 upvotes
Toronto

Living comfortably in Vancouver?

What salary would one need to earn as a single person to live comfortably or survive in Vancouver?
Last edited by lovetolearn on Aug 11th, 2021 5:58 am, edited 2 times in total.
31 replies
Deal Addict
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Jan 14, 2009
4499 posts
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Vancouver, BC
What is comfortable for you?
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Member
Jan 25, 2021
261 posts
244 upvotes
Depends on whether you will be happy just renting or want to purchase a property
Deal Addict
Mar 30, 2017
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I am pretty happy to just watch netflix and biking/hiking on weekend without any luxury.

Cost of living /month=
cost of shelter +
cellphone $36+tax=40
internet $75+tax=84
netflix $15
food $300
gas ~=150
car insurance ~=150/mo
misc ~=$300
=$1040 + cost of shelter
profit on 6/23/2021 = 117.61% since 11/10/2020 to be exact😎
Deal Addict
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Jan 14, 2009
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Vancouver, BC
seatiger wrote: I am pretty happy to just watch netflix and biking/hiking on weekend without any luxury.

Cost of living /month=
cost of shelter +
cellphone $36+tax=40
internet $75+tax=84
netflix $15
food $300
gas ~=150
car insurance ~=150/mo
misc ~=$300
=$1040 + cost of shelter
If I was single like OP, I would live and eat at home. Keep it under $500 per month.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Deal Addict
Dec 5, 2009
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Ah. The good ol' single days lol.

The biggest factor will be your living expenses. If you have the option to, just live at home and invest your savings. Don't pay someone else's mortgage.
Deal Addict
Jun 20, 2011
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VANCOUVER
Why Vancouver? Why not Burnaby, New West, Coquitlam, etc etc?
Deal Fanatic
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Dec 27, 2009
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Victoria, BC
DDHLeigh wrote: Why Vancouver? Why not Burnaby, New West, Coquitlam, etc etc?
OP posts threads about moving to different cities and changing jobs like most people change their underwear. Not sure if OP has ever actually taken up and moved.
Deal Fanatic
Oct 7, 2007
9200 posts
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Everything costs more in Vancouver compared to most other places in Canada. Expect to pay more for everything. Personally, I would try living here on a one-month vacation before making the move just to get a feel for what it is all about. Some people don't like the weather because we are in a rainy climate. Other people find the culture not for them. If I wasn't already here, I would consider other alternatives before choosing Vancouver as a place to live as it is very difficult to live comfortably unless you can find a way to make big money and limit your expenses.
Newbie
Oct 25, 2020
64 posts
103 upvotes
Depends, if you want live downtown, westend, or kits then you will need at least 100k a year to live comfortably. If you live in Burnaby, Richmond, or other less desirable areas then you can easily live comfortably renting a basement suite for 60k a year by yourself.

I'm making around 62k a year after graduating from SFU last year.

I live with roommates near Joyce station. The area is full of Chinese and Filipinos, you won't a single white person unless they're a construction worker. Pay $1000 a month for a 2 bedroom condo with a random Mexican couple 5 minutes away from the skytrain station. I spend $500 on food a month and another $200 on other miscellaneous stuff like transit. I can still save half of my income a month ~$2000 for vacations and etc.

PROS:
I live in a 10-year-old condo with views of the mountain. I have my own bathroom and shared kitchen. The bedroom is big enough for my workstation. If I want to go to Japan when Covid is over, I can with my savings. I don't have a car but I can take the skytrain to downtown in 15-20 minutes. I go to Asian grocery stores to buy my groceries, eat one once or twice a week no problem. If I want to go hiking or to the beach, I will need to use EVO car share or get my girlfriend to drive me. I'm saving enough that I can buy a condo in metrotown or Coquitlam in 5 years with my girlfriend.

CONS:
I live in a working-class area. My condo doesn't have AC, and condos that do are 50% more expensive. There are no nice restaurants only ethnic places. Everyone here is Chinese or Filipino but that's not a problem since I'm Korean and I fit in. No car or else I won't be able to afford to save for a condo. I'm always financially stressed about being priced out from the market. I dread that I will have to buy a condo in Coquitlam like all the other Koreans since my job requires me to work downtown twice a week. I feel I need to be in a relationship rather than I want to be in a relationship to financially progress in life. My girlfriend lives in Richmond because locals don't actually live Downtown believe it or not so I we can't see each other as much. Wages aren't as high as Toronto, I will probably peak at 80k. My dream is to live downtown or Kits. But, I can never live in Downtown or Kits because no one born in Vancouver will be stupid enough to live there. People save their money living with their parents in the suburbs then buy in Surrey. Other than that, I live comfortably. I eat what I want, go where I want, buy what I want.
Last edited by rainbowsexpants on Aug 14th, 2021 8:01 pm, edited 1 time in total.
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Jan 16, 2011
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The NORTH
Have you tried the Lottery?
Deal Fanatic
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Oct 16, 2008
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Chickinvic wrote: OP posts threads about moving to different cities and changing jobs like most people change their underwear. Not sure if OP has ever actually taken up and moved.
I guess he has not decided it yet. Eventually he will run out of city to move (plan).Face With Tears Of Joy
...
Deal Addict
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Sep 9, 2007
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Toronto
Recently visited Vancouver for 10 days. We actually found dining out to be cheaper than Toronto and food was better.
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Oct 7, 2007
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rainbowsexpants wrote: Depends, if you want live downtown, westend, or kits then you will need at least 100k a year to live comfortably. If you live in Burnaby, Richmond, or other less desirable areas then you can easily live comfortably renting a basement suite for 60k a year by yourself.

I'm making around 62k a year after graduating from SFU last year.

I live with roommates near Joyce station. The area is full of Chinese and Filipinos, you won't a single white person unless they're a construction worker. Pay $1000 a month for a 2 bedroom condo with a random Mexican couple 5 minutes away from the skytrain station. I spend $500 on food a month and another $200 on other miscellaneous stuff like transit. I can still save half of my income a month ~$2000 for vacations and etc.

PROS:
I live in a 10-year-old condo with views of the mountain. I have my own bathroom and shared kitchen. The bedroom is big enough for my workstation. If I want to go to Japan when Covid is over, I can with my savings. I don't have a car but I can take the skytrain to downtown in 15-20 minutes. I go to Asian grocery stores to buy my groceries, eat one once or twice a week no problem. If I want to go hiking or to the beach, I will need to use EVO car share or get my girlfriend to drive me. I'm saving enough that I can buy a condo in metrotown or Coquitlam in 5 years with my girlfriend.

CONS:
I live in a working-class area. My condo doesn't have AC, and condos that do are 50% more expensive. There are no nice restaurants only ethnic places. Everyone here is Chinese or Filipino but that's not a problem since I'm Korean and I fit in. No car or else I won't be able to afford to save for a condo. I'm always financially stressed about being priced out from the market. I dread that I will have to buy a condo in Coquitlam like all the other Koreans since my job requires me to work downtown twice a week. I feel I need to be in a relationship rather than I want to be in a relationship to financially progress in life. My girlfriend lives in Richmond because locals don't actually live Downtown believe it or not so I we can't see each other as much. Wages aren't as high as Toronto, I will probably peak at 80k. My dream is to live downtown or Kits. But, I can never live in Downtown or Kits because no one born in Vancouver will be stupid enough to live there. People save their money living with their parents in the suburbs then buy in Surrey. Other than that, I live comfortably. I eat what I want, go where I want, buy what I want.
Thanks for sharing your experience. I appreciate the effort and honesty it takes to provide some insight into your experiences.

Also, i commend you on your discipline. If you stay true to your goals, you will get there (which I am 100% sure you will do, no problem). :)
Deal Addict
Jun 14, 2018
1275 posts
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rainbowsexpants wrote: Depends, if you want live downtown, westend, or kits then you will need at least 100k a year to live comfortably. If you live in Burnaby, Richmond, or other less desirable areas then you can easily live comfortably renting a basement suite for 60k a year by yourself.

I'm making around 62k a year after graduating from SFU last year.

I live with roommates near Joyce station. The area is full of Chinese and Filipinos, you won't a single white person unless they're a construction worker. Pay $1000 a month for a 2 bedroom condo with a random Mexican couple 5 minutes away from the skytrain station. I spend $500 on food a month and another $200 on other miscellaneous stuff like transit. I can still save half of my income a month ~$2000 for vacations and etc.

PROS:
I live in a 10-year-old condo with views of the mountain. I have my own bathroom and shared kitchen. The bedroom is big enough for my workstation. If I want to go to Japan when Covid is over, I can with my savings. I don't have a car but I can take the skytrain to downtown in 15-20 minutes. I go to Asian grocery stores to buy my groceries, eat one once or twice a week no problem. If I want to go hiking or to the beach, I will need to use EVO car share or get my girlfriend to drive me. I'm saving enough that I can buy a condo in metrotown or Coquitlam in 5 years with my girlfriend.

CONS:
I live in a working-class area. My condo doesn't have AC, and condos that do are 50% more expensive. There are no nice restaurants only ethnic places. Everyone here is Chinese or Filipino but that's not a problem since I'm Korean and I fit in. No car or else I won't be able to afford to save for a condo. I'm always financially stressed about being priced out from the market. I dread that I will have to buy a condo in Coquitlam like all the other Koreans since my job requires me to work downtown twice a week. I feel I need to be in a relationship rather than I want to be in a relationship to financially progress in life. My girlfriend lives in Richmond because locals don't actually live Downtown believe it or not so I we can't see each other as much. Wages aren't as high as Toronto, I will probably peak at 80k. My dream is to live downtown or Kits. But, I can never live in Downtown or Kits because no one born in Vancouver will be stupid enough to live there. People save their money living with their parents in the suburbs then buy in Surrey. Other than that, I live comfortably. I eat what I want, go where I want, buy what I want.
I'd recommend buying a place in Richmond somewhere on or near No. 3 Road. No.3 Road has just about everything that you need and the Canada Line can take you to all of those places and also to Downtown for work fairly quickly, and is still undergoing massive development that will only make that area move livable in the future. If I ever was to move out of East Vancouver, I would definitely go to Richmond.
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Dec 5, 2009
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MarinersFanatik wrote: I'd recommend buying a place in Richmond somewhere on or near No. 3 Road. No.3 Road has just about everything that you need and the Canada Line can take you to all of those places and also to Downtown for work fairly quickly, and is still undergoing massive development that will only make that area move livable in the future. If I ever was to move out of East Vancouver, I would definitely go to Richmond.
Richmond has a ton of Asian amenities, but i would be concerned about the long term viability of owning there since it is only 1m above sea level and it’s part of a river delta.
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Mar 30, 2017
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GVA
Alpine84 wrote: Richmond has a ton of Asian amenities, but i would be concerned about the long term viability of owning there since it is only 1m above sea level and it’s part of a river delta.
They can keep top up the dyke, They are doing it already in phases. goal is to top up to 4.7-5.2m above current sea level. should be good for another 100 year with buffers.
sucks to those who have viewFace With Tears Of Joy
profit on 6/23/2021 = 117.61% since 11/10/2020 to be exact😎
Deal Addict
Dec 5, 2009
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4.7-5.2m above sea level? lol god damn. If that's not a warning sign, I don't know what is lol.
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Mar 30, 2017
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GVA
Alpine84 wrote: 4.7-5.2m above sea level? lol god damn. If that's not a warning sign, I don't know what is lol.
Image
well, not that much added height actually.
The existing height is around 3.0 to 3.3m on the west and north dyke around river road.
the new plan is to just add 1.7m-2m to it, enough to block the 2nd floor to houses with view.
if you drive by near london farm in the south, they have already done that portion to the new height.
profit on 6/23/2021 = 117.61% since 11/10/2020 to be exact😎
Deal Addict
Dec 5, 2009
1761 posts
2063 upvotes
Thanks! I'll have to check it out, especially the area that already has the addition. I'm only familiar with the stretch along river road near the airport/olympic oval, and the southern tip where I used to pokemon go.
My dad drilled into my head that I should never buy any RE south of marine drive so I guess I am unable to shake his comments even today lol.

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