Laneway living: one year later
I can’t believe its already been a year since we moved into our little laneway house in Vancouver. The appeal of living in a tiny house is still strong, and I feel really fortunate to be in a fantastic neighbourhood for such a reasonable price. Our one year lease is up at the end of the month, and after discussing it with our landlord, we are happy to stay here on a month-to-month basis.
Now that we’ve been living together for a year, we’ve discussed what the future holds for us, and where we think we’ll be in a few years. Unfortunately, the reality is that we’ll probably be in Vancouver for the foreseeable future. RD’s job is very specialized, and there are really only a few places we could move to in Canada where he could find work. We’re happy living where we are for now, but if we plan on being here for the next 10+ years, the idea of buying a home down the road begins to make sense (again).
Because for all the pros that renting and specifically laneway living provide, there are still definite cons to our current situation:
- We are paying a very reasonable price for rent. If we wanted to find a new rental in this neighbourhood for whatever reason, we’d be looking at paying $400-600 more per month for something similar.
- The people renting next door are sometimes very loud. Because we live in the alley, in the summertime when our windows are open, we’re often subjected to their cigarette smoke, loud talking in the middle of the night, and constantly hanging out just feet from our front door.
- The layout of our house isn’t the best. Because half of the downstairs is actually a garage, the layout is such that our TV/living room is actually our second bedroom upstairs. Which wouldn’t be so bad, except that there is wasted space downstairs that is too big not to use, but too small to be constructive.
- 685 sq.ft. split on two levels is just a *tiny* bit too small. We stayed in an AirBnB in Dawson City on our vacation, and we both agreed that it was our dream house with the perfect layout. The 2-storey house couldn’t have been more than 850 sq.ft. total but it was absolutely perfect for what we would want.
- There’s no outdoor space. I miss having a balcony or a porch where I can just sit outside and relax.
- The inability to customize our space or have pets. Not that we’d want to do any major renovations, but it would be nice to have the option if we wanted to. We’ve also discussed potentially getting a pet in the future, but it is extremely challenging to find rentals that would allow pets in the city.
That being said, we wouldn’t even consider buying anything for 8-12 months. Even though we have a nice down payment ready to go, we both want to get a good sense of what the real estate market is doing here in Vancouver (and the suburbs). We are both perfectly happy renting for however long we need to (perhaps even forever), so if we did decide to buy, it would have to be in a neighbourhood with a similar feel to our current one, and the purchase really shouldn’t have any impact to our current lifestyle and budget. Meaning early retirement and lots of traveling will continue to be the priority. And for that reason alone, I think it will be very difficult to take any real estate listing seriously.
Author: Krystal Yee
I’m a personal finance blogger and marketing professional based in Vancouver. I’m a former Toronto Star (Moneyville) columnist, author of The Beginner’s Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I’m not working, you can usually find me running, climbing, playing field hockey, or plotting my next adventure.