With Vancouver being a major Canadian city, many of its real estate properties are rentals. This helps residents keep up with the city’s fast-paced, metropolitan lifestyle.
But as with any major city, finding the perfect apartment can be challenging, especially if you’re on a budget. Vancouver’s residential vacancy rate in 2020 was only 2.6 percent, so you’d better expect to have a lot of competition.
Looking for a place in Vancouver? Here’s a quick apartment-hunting guide to help you out.
Looking for a Vancouver apartment can be pretty intimidating if you’re new to the area. Here are a few tips that could help you acquire that perfect apartment.
Set a Budget
One of the most significant factors that affect your apartment-hunting experience is your budget. Its residents also suffer from high rent prices since Vancouver is a gorgeous city with a lot to offer.
According to a survey by Rentals.ca, Vancouver currently has the most expensive rentals in the country, averaging $2,550 per month. Its increase rates are also relatively high at 16.2 percent annually.
When finding an apartment, it’s best to come prepared. Set an affordable budget that you can follow. It’s better to stick with something affordable than struggling to pay rent every month.
If you’re struggling with rental deposits, there are ways to borrow money online in Vancouver. Having the deposit on hand can help you land a suitable apartment as soon as possible. Keep in mind that you have some serious competition, so it’s best to be prepared and efficient.
Know What You Want
It’s time to think about what you can get with your budget in mind. Do you want a studio? A room? An entire apartment with one or more bedrooms? Would you like to get a roommate?
Most times, your budget will dictate the kind of place you can get. Try browsing through online listings or asking your friends about rent prices in their area. This research will help you manage your expectations and see what you could get within your budget.
Visit the Place
As much as possible, you should never rent a place long-term without seeing it for yourself. Online listings and pictures can be deceiving and most likely won’t capture all the rental details.
Visiting your apartment prospects helps you objectively assess the rental. Will you have enough space? Are the fixtures all working? Do you have cell reception? How accessible is it to your school or workplace? These are some of the questions you get to answer upon checking the place in person.
Where to Look
There are different ways to find a new place in Vancouver. You can use one or a combination of the following methods to help you more efficiently in your search.
Explore the Area
If you have the time, physically exploring the area for apartments is an efficient way to find a new place. Since you’re already there, you can check out the apartment in person instead of going back and forth via text or email.
Consider joining online groups dedicated to finding places for rent. They are extremely popular on Facebook, but some people also post rentals on other social media sites.
Websites like Craigslist, Rentals.ca, Apartment Love and Rentseeker are great places to find apartment listings. It’s an easy way to contact landlords and inquire about your rental options.
Asking your friends for apartment recommendations is another good option. If one of them is moving out, you can even ask to rent their current place. You have enough familiarity with them so that they can provide you with suitable and honest suggestions and feedback.
Apartment hunting is never easy. It becomes even more difficult in a big, expensive city like Vancouver. However, with some smart practices surrounding your strategy and finances, your dream apartment might be just around the corner.