Who Should NOT Buy in Vancouver Right Now?

Hot take incoming. And I know a lot of Realtors won't say this because it's counterproductive for business, but here it is: if your number one priority is a lower monthly cost, you should not buy a home right now. You should keep renting.

And I'm not saying that because it's going to get cheaper. Honestly, for the foreseeable future, it will be cheaper to rent than to own in Vancouver unless you're coming in with a massive down payment. If that's you; please disregard this entire post, give me a call, and let's get to work.

But for a lot of people? The math just doesn't work yet.

I work with buyers regularly who qualify on paper, make good money, and feel this pressure. This sense that it's just time to buy. That it's the next thing they're supposed to do. They sit down, we look at the budget together, and the monthly carrying costs are so much higher than what they're paying in rent that they can't wrap their head around it. And they shouldn't have to force themselves to.

If homeownership isn't your main priority right now, keep renting. Save money, travel, do whatever the %&^! you want to. There's a lot of noise out there, spring market talk, buyer's market talk AND IT IS AN AMAZING TIME TO BUY but none of that changes your personal priorities.

There a surprising amount of shame that people carry about still renting. Don't. Vancouver is one of the most expensive housing markets in the world. Renting here while you build savings, live your life, and wait until it actually makes sense for you is a perfectly reasonable choice. I'm not here to change your mind about that.

Personally, for us (my partner, two dogs and myself), we decided the pros outweigh the cons…
We have secure housing. We don't have a strata, so we have complete freedom over what we do inside and outside of our home. And most importantly, we're building long-term wealth, which is a priority for us.
If that's not your priority right now, keep renting. No embarrassment required.

If your priorities do shift and you’re looking for an agent that’s just as likely to talk you out of a deal as he is to advise you to proceed; reach out as I’d love to be a resource.

Kade Lacasse
604-401-9199
kadelacasse@gmail.com

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