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I live in a Vancouver laneway house

suite1106-img_2824Vancouver laneway houses are becoming more and more popular. Our cute home is one of only a handful of finished and occupied laneways in my Vancouver neighbourhood, but taking a quick stroll around, and you’ll see many nearly completed or under construction.

When we first started looking for places to rent, my ideal place was a laneway house. These little cottages in the city really appealed to me because 1) I love small spaces, 2) tons of privacy, and 3) you don’t have to worry about noisy neighbours. So when this laneway came up in our ideal neighbourhood, we did everything we could to snag it.

Our laneway is a 685 sq.ft. two-storey, two-bed home. It costs us $1,650/month in rent, and is located in our favourite neighbourhood in Vancouver.

The rent is comparable to any decent apartment in the area (we were looking at a 1-bedroom for $1,700/month before we found this place), so the only thing we are giving up is a little bit of space in exchange for renting an entire structure. And as for the space, it’s about the same size as my townhouse – the only difference is the laneway is two levels.

When you first walk into the house, you are greeted with stairs, as well as the kitchen area, and RD’s computer desk. There is also a small laundry closet off to the right of the computer desk.

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The first floor is where we seem to spend most of our time. I love the kitchen island, and think it was a really smart thing for us to buy. Not only can we take it with us anywhere we go, but I sit there to work on my laptop, it’s the perfect size for two people to prep meals, and it adds much needed seating.

If we were going to entertain (which for us would be rare), we could put away RD’s computer and use the desk as a table.

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Walking up the stairs, we have a washroom to the left. It’s clean and modern, and has enough space to hold a trunk full of extra towels, etc.

Photo 2015-11-27, 6 01 44 PM Photo 2015-11-27, 6 02 14 PM

Straight ahead off the upstairs landing is our bedroom. It’s the smaller of the two bedrooms by far, but it fits a queen sized storage bed (which fits all of our sports gear, backpacks, bedding, etc.), night table, and has a pretty big double-door closet for RD’s stuff.

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The last room upstairs is the second bedroom, which we have turned into our living room – with our couch and television.

We ended up having to buy a new-to-us couch off Craigslist. It’s not ideal, but it looks nice and fits the space well.

The only picture of the closet I have is from when we first moved in – but the closet is a semi-walk-in and spans that entire width. It fits a surprising amount of stuff (all of the crap I had in my old walk-in closet fits in the space).

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And that’s our little house! :) It’s small but functional, and the perfect size for us. It took a while to get settled and combine our stuff together, but after about a month of living here full time, it’s starting to feel like home.

Finding a rental apartment in Vancouver

Sunset in Vancouver's west end

Time has been flying by. In late October, RD and I started talking about moving in together. The timing seemed perfect: my home was on the market, and he had been thinking of leaving his house as well. I accepted an offer on my townhouse on November 2nd, and we had a 1-year lease signed on a cute little laneway house by November 10th.

If you live in Vancouver, you’ll probably relate to how nuts the rental market is here. According to CMHC, the rental vacancy rate sits at 0.8%. That is a crazy figure, and while it’s always been like that in Vancouver, I never really understood what it meant to have to deal with it. When I first moved here, the woman whose job I was taking recommended me to her landlord. So not only did I take her job, but I took her apartment too. :) Then I moved into New West (where rentals were quite easy to find), then out to Port Coquitlam, and then I bought my townhouse – where I’ve lived for the last 5 years.

Related: How I saved for my down payment

I’ll admit that even though the rental process was stressful, we have had an easier time than most people finding a place to live. Here’s how we did it:

Knowing what you want

We knew exactly what we wanted: a clean one-bedroom apartment with lots of light (no basement suites) in pretty specific areas of East Vancouver. That’s it. We had no sq.ft. requirements, gave up dedicated parking, and weren’t even picky about in-suite laundry (although secretly I was only showing him listings that had dedicated laundry).

There were also secondary things that would be “nice to have.” Like hardwood floors, a quiet tree-lined street, lots of storage, free parking, and I didn’t want to live in a boring, cookie-cutter apartment if we could help it.

Set your budget

Our original budget was $1,400, but we realized after a day of searching that it wasn’t going to give us what we wanted (see point above). Our main must-have was to find a place in one of our desired neighbourhoods. So our budget slowly began to rise. This increased the inventory available to us, and the places got nicer. Not even close to luxury nice, but definitely better. We weren’t sure where to draw the line as we crept closer to $1,700, but I remember RD showed me a listing his friend sent him that was $1,850. We both cringed at the rent and decided $1,700 was the maximum we would pay. I mean, if we’re going to rent, we’d better both be saving money as well, right?

Be quick (really quick)

Since I’m glued to my computer most of the day, I made sure to check Craigslist every couple of hours. This may seem a bit obsessive, but we learned quickly that apartments go FAST. It’s pretty much a given that if an apartment listing has been up on Craigslist for more than 24 hours, it’s already gone. So to get ahead of the competition, I checked online all the time and RD and I were in constant communication.

Get organized

I’ve never had to deal with renting in Vancouver before, but RD knew what was up. So he had printed up all of our information to take to open houses, so that we apply immediately. We lost one apartment because we decided to fill out an application later that evening, so when the laneway house came up and I was out of town, RD went to see the open house and filled out an application on the spot.

Look good on paper

RD pointed out that we are desirable tenants because we look good on paper. We are in our 30’s with stable jobs and comfortable incomes. We have good references, don’t smoke, and don’t have pets. And when you show up to open houses with your act together (see above point) you end up looking pretty good.

Have your finances in order

We had all our finances worked out so that when the house was offered to us, we could sign the lease and put down a damage deposit immediately without having to wait and shift around money. PC Financial, for example, makes you wait until the next business day to access any money from your savings accounts.

What was your experience renting your last apartment?
Was the process difficult, or fairly easy?

 

 

From home ownership to renting

I mentioned in a previous post that my housing situation has changed dramatically. In the summer I hinted at the idea of selling my house and moving into Vancouver to be closer to work, my friends, and where I spend most of my life. So back in August, I put my townhouse on the market just to see what would happen. There was a lot of interest, and finally I accepted an offer earlier this month. :)

That means I’m moving! But I’m not just moving into an apartment… I’m going to live out my small space living fantasy by renting out a laneway house in Vancouver. For those that are not from the Vancouver area and might be unfamiliar with laneway houses, these homes are typically built on a pre-existing lot (usually someone’s backyard). They are usually detached from the main house and open onto the back lane. My laneway house is a two-storey, two-bedroom house that measures about 685 sq.ft. It’s extremely cute, and I can’t begin to tell you how excited I am to live just a 10 min. drive to work, and within a few blocks of my favourite neighbourhood in Vancouver.

I had a short introduction into small space living in 2012, when I lived in a 215 sq.ft. apartment with a boyfriend for a year in Germany I don’t think I would want to live in a space that small long-term with another person (at least not that specific space – it did not function very well and there was no storage), but it definitely showed me that I can do with a lot less than what I have and still be completely happy. So now that there’s 685 sq.ft. for two people, it seems really doable.

With my new job, I will also be getting a modest bump in salary, which will increase my monthly saving amount. But I want to get right to the fun stuff – and that’s creating a new budget for a new living situation. :)

This is what my initial thoughts are for my new budget:

January 2016 Proposed Budget

A few things to note:

  • This is not a fair representation of home ownership vs. renting as I’m also going from living alone to living with somebody else. Creating this mock budget for the first time really made me realize how much more I was spending over the last 5 years living solo. Back in the summer, I did create another mock budget to see how much I’d save if I went from owning to renting as a single person ($400/month). So while this isn’t a truly fair representation, it doesn’t result in a *massive* difference in my budget living with someone vs. living solo.
  • My townhouse had rental restrictions. A lot of people suggested that I rent out my townhouse and move into the city. However, my building did not allow for rentals, so this just wasn’t an option for me.
  • Monthly rent on this house is $1,650. For a two bedroom in an extremely desirable area in Vancouver, this is quite reasonable, but definitely not the cheapest option out there.
  • We will be splitting the cost of utilities and internet. Electricity will go up a bit as we are heating a whole house, but that increase is offset by the fact that it’s now a shared expense. Renter’s insurance has been quoted at $30 per month.
  • I anticipate my monthly grocery budget will go down a little bit as I’ll have more time to prepare more meals from scratch.
  • Car insurance is not accurate – it will likely cost a bit more now that I live in Vancouver.
  • The cost of gas is cut in half now that my daily commute to work is 10 minutes instead of 45-60 minutes. :)

Related: Single? It’s costing you more than you think.)

As you can see, I *think* I’ll be able to slash over $700 from my budget each month without changing my lifestyle through variable expenses. Unless I’ve made some glaring error. This is a significant amount, and I am really excited about it. If you add to that my modest pay raise, and if I am vigilant in saving my savings, I could potentially put away an additional $1,000+ each month.

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