Vancouver’s market is shifting, and many people are asking: is now a good time to buy—or should I keep renting?
Updated Cost Comparison
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Average rent (1‑bed, unfurnished) in Metro Vancouver: around $2,275–2,300/month
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Estimated mortgage payment on a $650,000 condo with 20% down and a variable rate at ~4.3%: approx. $3,100–$3,300/month
With mortgage rates lower than last year and more properties sitting on the market, buyers have a unique edge right now.
Why Now Might Be the Time to Buy
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Sellers are more flexible—prices are more negotiable than ever
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Variable mortgage rates have dropped (around 4.3%), lowering monthly costs
-
Less competition = more options and room to negotiate
Pros of Buying
-
Build equity over time
-
Protection from future rent hikes
-
Long-term investment in your future
-
Better buying power in today’s calmer market
Updated Cost Comparison
-
Average rent (1‑bed, unfurnished) in Metro Vancouver: around $2,275–2,300/month
-
Estimated mortgage payment on a $650,000 condo with 20% down and a variable rate at ~4.3%: approx. $3,100–$3,300/month
With mortgage rates lower than last year and more properties sitting on the market, buyers have a unique edge right now.
Why Now Might Be the Time to Buy
-
Sellers are more flexible—prices are more negotiable than ever
-
Variable mortgage rates have dropped (around 4.3%), lowering monthly costs
-
Less competition = more options and room to negotiate
Pros of Buying
-
Build equity over time
-
Protection from future rent hikes
-
Long-term investment in your future
-
Better buying power in today’s calmer market
Let’s Talk About Your Options
Not sure if buying is right for you right now? I’ll help you break it down.
Book a free 30-minute consultation
—
Shiva Ojaroodi
Your Trusted Realtor® in Greater Vancouver
778-998-8998 | ️ info@shivayourrealtor.ca