Every so often a client sits across from me and asks the question that so many people in the Lower Mainland are asking right now: does it still make sense to buy, or should I keep renting?
It is a fair question, and I never give the same answer twice. The truth is that owning versus renting is not just a math problem. It is a decision about how you want to live, and how long you want to stay put.
Renting gives you flexibility. You can move when your work changes, when your family grows, or simply when you feel like it. For some people, especially in the early years, that freedom is worth a great deal.
Owning offers something different. It offers a place that is yours. You can paint the walls, plant a garden, and settle in without wondering whether the lease will be renewed. Over time, the payments you make go toward something you keep rather than something you leave behind.
In the Lower Mainland, both paths come with real trade-offs. This is not an inexpensive place to live, whether you rent or own. So the honest answer usually comes down to your own situation: your income, your plans, and how rooted you want to feel.
What I tell people is this. Do not rush into buying because you feel pressure, and do not stay renting out of fear of the unknown. Look at your life first, then look at the options.
If you are weighing the two and want to talk it through with someone who knows the local market, I am always happy to sit down and go over what makes sense for you. There is no single right answer, only the one that fits your life...