West Vancouver Home Owners – Becoming Renters?

  • 8 years ago
  • 1

West Vancouver home owners are fast becoming a part of the ever growing Renters Club. Whether it’s due to foreclosures or not being able to keep up their ever expanding mortgages, home owners are having to reluctantly dive into the over crowded rental pool. As hard to find vacancies are dwindling and property rents are doubling, we are neck deep in a housing crisis situation. Vancouver home renters are well educated into the fight for a good property to rent in a decent area for a fair price. It’s all too common to see rental candidates being shown the same property in assembly line fashion with several couples viewing the sought after property at the same time. The days are gone when your rent is 25% of your monthly income as one in four rental properties absorb between 35 and 45% of your monthly paychecks between the actual rent and the unending utilities. Northshore Property Managers have noticed the shortage of rental units for some time now and the situation in only getting worse. Many young families are being forced out of the Vancouver areas when buying their first home. Suddenly Maple Ridge and Mission have become property hotspots to buy your first home. While you may miss the charm of Vancouver’s convenient urban lifestyle and active nightlife on the bright side, you can always find a parking spot in downtown Haney in “the ridge”.

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