Call: 1.604.275.2997 Email: ron@thevpgroup.ca
$ amounts are all in CAD
Are you considering changing your life and moving to Vancouver? As one of the most popular global cities, relocating to Vancouver can be a big challenge if you enter the whole process unprepared. It has one of the most competitive real estate markets in North America, so relocating to Vancouver requires a lot of patience and as you will see from our Vancouver guide, money. With a severe shortage of land, high living standards, and a highly attractive job market, it’s clear why Vancouver is almost always ranked at the top of all lists
Ron Parpara is here to help! Ron specializes in relocation services for people looking to move into or near Vancouver, BC. He's helped many families successfully relocate with the help of his team of experts. Contact Ron here, or call 1-604.275.2997.
If you’re moving to Vancouver from the outside, you don’t have to worry about feeling like an odd man out. Almost 35% of the population is foreign-born, so there is a whole mixture of people coming from nationalities and backgrounds that live in harmony in Vancouver. In fact, Vancouver is an avid promoter of diversity and regularly organizes programs and initiatives to protect and celebrate the cultural diversity and heritage of the city.
Around half of the population have English as a mother tongue, while the rest speak a whole array of other languages. French, Chinese, Punjabi, Cantonese, Mandarin, Persian, Spanish, and Tagalog are just a few of the many languages you will hear while living in Vancouver.
If you are moving to Vancouver for work or school then you will need to pay for your travel expenses, housing costs (for at least one month), and probably the most expensive thing is the deposit required by real estate companies. This can range anywhere from 10% - 20% of the total property value. For example, if your rent is $2000 per month on a lease that is one year long then you will have to pay around $4000 - $8000 on the deposit.
Vancouver’s property market is as diverse as its population. You can find anything from heritage buildings to luxury mansions and everything in between.
First-time homebuyers typically opt for apartments outside the city center because of their affordability. Their cost ranges between $400,000 and $500,000 compared to luxury condos in the city center that can sell for as high as several millions ($2,000,000 average). On average though, you can find a condo for $750,000 to $850,000.
Although the world was struck by a pandemic and markets were seriously hit because of it, Vancouver didn’t suffer a heavy hit because of it. Just in the period between January 1st and October 31st 2020, the average property prices in Vancouver rose by 11.4% to $1,270,000. This trend of rising prices is expected to continue going into 2021 as well, turning Vancouver’s real estate into a heavily seller’s market.
In terms of neighbourhoods, Kitsilano, Fairview, and Mount Pleasant were the top-selling areas in 2020, and are expected to keep being the best-selling neighbourhoods in 2021 as well.
Finding a property in Vancouver is definitely tough, but as the new-home construction market has been firming up, the supply will increase in the near future.
Vancouver has one of the highest quality of life standards in Canada and is constantly ranked at the top of the list in the Mercer Quality of Living City Ranking, the leading provider of data on quality of living for employees sent to work abroad. Undeniably, there are a lot of cons of living in Vancouver, but when you take into consideration the publicly funded healthcare system, highly rated educational system, and low crime rates, it’s clear why Vancouver’s quality of life tops many other global cities in this aspect.
Vancouver has a reputable public school system with a high quality education that pairs with the one received in private schools. This shows in the high academic performance public schools have displayed throughout the years. The most popular and highly ranked public schools in Vancouver are West Bay Elementary School, Rockridge Secondary School Lord Byng Secondary School, Upper Lynn Elementary, Seycove Secondary Community, and Seaquam Secondary. Because of the different profiles of students, the school put emphasis on different subjects. Some focus on subjects such as arts, music, or sports, while other schools have programs designed for the French and Chinese communities.
On the other hand, private and international schools, as most things in Vancouver, are quite expensive, with the yearly fees ranging from $18,000 to $60,000 depending on your pick.
The highest paying jobs are in finance, tech, oil, gas or mining. For example, if you were to look at list of salaries for lawyers you would see that they make anywhere from $50k - $160k per year depending on their experience.
If you are coming to Vancouver for a job with the provincial government then the average salary is around 100k - 110k per year, but this varies depending on your sector and employment status.
Vancouverians have a superb healthcare system through the publicly funded Medical Services Plan (MSP). Through this plan, everyone that is a legal resident of British Columbia has to pay a monthly premium that is deducted from their wages for healthcare services. This provides coverage for all doctors and specialists’ appointments, and even some types of surgeries with a minimal or no compensation provided by the patient.
Those that are not covered by the Medical Services Plan have to turn to private health insurance for their medical needs.
Vancouver is popular for its laidback and health-focused way of life. It’s ideal for people that want to live more on the calmer and relaxed side. Surrounded by the sea and mountains, Vancouver offers unmatched opportunities for outdoor activities. Whether you want to go for a mountain hike on the weekend, kayak on warm summer days, or go skiing in the mountains, you can do it on a 30 minute drive from downtown.
Aside from all the outdoor activities, the quality of life has a big contribution towards Vancouver’s relaxed lifestyle. A booming economy, excellent education, great healthcare, spectacular natural spots, and a vibrant, diverse population blend into one spot and create an idyllic image of a city anyone would love to live in.
A big percentage of those that relocate to Vancouver do it for the career opportunities it offers. But is it easy to get a job in Vancouver? The answer to that question depends on the type of job you’re looking for. Finding a job in Vancouver is easy, but finding your dream career can be a bit tougher and take more time and work unless you have a spectacular employment history.
However, if you do have a strong CV and work history and want to start on a high in Vancouver, a good first step would be to research the biggest employers in the area. There are a lot of national and local job hunting websites that allow you to search for jobs in Vancouver and British Columbia based on pre-selected criteria. You can search by the location that matches your needs, the salary, work hours, or other criteria you set.
Some of the most common questions expats have when moving to Vancouver are “What salary do you need to live in Vancouver?” and “Is it expensive to live in Vancouver Canada?” Well, considering that Vancouver is one of the most expensive cities in North America, the answer won’t be for those that expect to save up on living costs.
Life can get expensive, and to know what is a good salary in Vancouver, you first need to know the monthly expenses. According to Numbeo, the estimated monthly costs for a single person are around $1,170, while the average monthly costs for a family of four are around $4,300. These costs don’t include rent.
The rent can be $1,200 for a one-bedroom apartment outside the city centre and $2,500 for the same one in the city center. Similarly, a three-bedroom apartment can cost between $2,400 and $5,000 depending on if you live outside the city center or in it, respectively.
As we mentioned above, the average monthly salary in Vancouver is around $4,600, which can be barely enough or more than enough depending if you live under rent (and where) or own your own place.
Vancouver is one of the safest cities in Canada, with strict licensing and health & safety laws being applied throughout it. Serious crimes like shootings, stabbings, muggings and other random acts of violence are extremely rare and limited to drug-affected areas, so you will be safe as long as you avoid these places.
Reports of common property crime may get you thinking if moving to Vancouver a good idea, but these crimes are limited to item theft that was left unattended by the owners. Similarly, cars that are left vacant for a longer period of time in areas with low pedestrian movement can be broken into, so make sure you don’t leave anything valuable in your car.
The areas where you should be precautious at night or if you’re moving alone are Downtown Eastside and Standley Park. While there haven’t been major or frequent crime activities, isolated places can be risky for lone travelers, so it’s best to avoid going to these areas alone.
Is Vancouver the warmest place in Canada to live? No. But is it the coldest? Also no. In fact, if you want to relocate to Vancouver, be prepared for around nine long months of rain every year. With an oceanic climate, the city is pretty cool and humid, with relatively mild winters filled with rainfalls, and cool, sunny summers. Toronto is colder than Vancouver as Vancouver’s temperatures rarely fall under zero, even during the winter months.
Vancouver’s public transportation is one of the most accessible and reliable ones in all of Canada. The city’s metro area is covered with a network of buses, trains, and ferries, allowing Vancouverians to move around easily and quickly. There are a lot of bus routes throughout the city, an eco-friendly SkyTrain transit system, a passenger-only ferry called SeaBus, a commuter service connecting different suburbs of Vancouver, taxis, and multiple car-sharing services such as Uber and Lyft.
However, if you move around with a car, you should be prepared for the huge traffic jams that often put the city in a gridlock during busy hours.
As real estate agents, we often get asked which is the best neighbourhood in Vancouver. There is not a clear answer to this question as everything depends on your preferences and priorities. Some prefer living in large mansions, while others want to be closer to the downtown buzz, but you will rarely find both of these features in one property. In general, here is what you can expect from the most popular neighbourhoods in Vancouver:
West End (Downtown)
Located on the west of Vancouver’s Downtown area, and surrounded by Stanley Park and the ocean, West End is an affordable area with a mixture of properties. There are townhouses, duplexes, heritage homes, and older high-rise apartment units. The residents’ profiles are as diverse as its properties. Here, you can find people coming from every corner of the world and a growing LGBTQ friendly community, making it one of the best suburbs in Vancouver according to many of the residents.
Yaletown (Downtown)
Undoubtedly, Yaletown is the most popular neighbourhood in Vancouver, but also the most expensive one when looking at property prices (both buying and renting). Yaletown attracts residents for the eclectic lifestyle with trendy cafes, hip restaurants, and popular nightclubs, but also because of its proximity to offices, bus and train stations, and amenities. In terms of style, you will mostly find industrial buildings with commercial storefronts, offices with loft-type apartments, and several multi-residential units.
If you’re looking for an affordable home in Vancouver that has enough space for you and your family, Killarney is the place to look into. With a diverse profile in ethnicity, housing, properties, it’s an extremely popular spot with lots of green spaces, good schools, and plenty of shops to meet the needs of residents.
Also known as Kits, this neighbourhood is a popular spot for young couples, families, and tourists due to its proximity to two popular beaches and affordable rent prices. Offering spectacular views of the North Shore Mountains and Downtown, Kits is a diverse area with properties ranging from California bungalows to heritage homes and duplexes.
If you want to live in a peaceful Vancouverian neighbourhood, Kerrisdale is the area to go house hunting in. Although it has been popular among retirees, Kerrisdale has seen an increase in the number of young families that decide to live here due to the lower property prices compared to the rest of Vancouver. Kerrisdale cannot brag with all the nightclubs and bars as Yaletown, but it has everything a person needs for everyday life. The popular shopping spot called Kerrisdale Village is also located within its borders, while Kitch beach and the business district center are just a few miles away.
Vancouver versus Toronto is a common dilemma of people planning to relocate to Canada. The competition is tight between the two, with each one topping the other in different aspects. To decide if and why is Vancouver better than Toronto for you or the other way around, you need to analyze the main aspects of living in a city, which we will do for you below:
Both Toronto and Vancouver have their advantages in terms of location. If you’re a nature lover, you’ll be impressed by the breathtaking ocean and mountain views Vancouver has. If you prefer being closer to other major cities in North America, then Toronto is the city to go house hunting in. Ottawa, Montreal, New York City and Chicago can easily be reached through multiple transportation methods from Toronto.
Is it more expensive to live in Toronto or Vancouver? This is a common dilemma many people have. When it comes to this aspect, we’ll be honest. Both are very expensive places to live in when analyzing the average wage opposed to the housing costs and daily living costs, but Vancouver is definitely the more expensive option of the two. Rent, utilities, groceries are all more expensive in Vancouver, but salaries are lower than Toronto, which increases the gap between the two.
In terms of lifestyle, Toronto and Vancouver are the polar opposites. Vancouver is all about the outdoor life with hiking, biking, running, skiing, kayaking, paddling, diving, and many more activities being just a few minutes away from the downtown area.
On the other hand, Toronto is for the city lovers. It’s a vivacious city with hip cafes, bars, restaurants, and nightclubs where residents can socialize and enjoy the local culture. Of course, outdoor activities are also an option, but they are a bit further away than they are in Vancouver.
When it comes to diversity, Toronto is undoubtedly the more culturally diverse city. In fact, the city has over 200 nationalities living in it, making it one of the most multicultural cities in the world. But, this doesn’t mean that Vancouver falls behind in diversity. Both cities have multiple festivals and programs that celebrate and nurture each culture they are home to.
When we get asked “Is Toronto colder than Vancouver?”, we have to give a confusing answer, which is both “yes” and “no”. Temperatures in Toronto drastically fluctuate throughout the year, so they get far below the temperatures in Vancouver during winter, but also go extremely high during summer, far above Vancouver’s temperatures.
Just as comparison, the temperatures during winter in Vancouver are around 0-4c, while in Toronto they can fall as low as -30c. During summer, on the other hand, temperatures rarely go above 30c in Vancouver, while in Toronto they mostly hover around 35c.
To be fair, we can never make a list long enough to explain all the pros of living in Vancouver, but to put things into perspective, here are the best things about living in it:
Vancouver is far from being the perfect city to live in. As any other place in the world, living in it comes with its cons, and here are some things you should consider before deciding to relocate to Vancouver:
If you’re ready to put in the time and effort needed to find a property that meets your budget and preferences, Vancouver is one of the best places to move to. The city has a lot to offer to its residents; mild climate, great education, huge career opportunities, outdoor activities, and spectacular properties. Because of everything it offers, a lot of people turn to Vancouver to look for a home, which drastically increases property prices.
While it does come with its challenges, Vancouver is undoubtedly one of the most desirable locations in the world when it comes to living conditions. And let's be real. Moving to another place will never be sunshine and rainbows, but once you have settled down in one of the most desirable locations in the world, everything will be worthwhile.
Ron Parpara PREC - Vancouver Realtor
Old address: 1286 Homer St #400, Vancouver, BC V6B 2Y5
New address: 701 W Georgia St, Suite 1500, Vancouver, BC V7Y 1G5
(604) 275-2997, ron@thevpgroup.ca
