With the average home price in Greater Vancouver hitting the $900,000 mark in August—more than double the national average—it’s no wonder so many people here are choosing to rent a home rather than dive into the volatile real estate market.
Austeville Properties Ltd. has been providing people in the Lower Mainland with the very best quality rental accommodations since 1968. We understand the value of renting vs. owning your home.
Here are the top six advantages of renting with Austeville:
1. Hassle-free maintenance
Homeowners know the challenges of surprise breakdowns and unexpected maintenance concerns. Not only can these events be costly, but also time consuming.
When you rent a condo from an independent owner, there are similar challenges. You can spend a great deal of time and energy chasing down owners before they are willing to make repairs.
When you rent with Austeville, it’s different. We manage our buildings directly and we pride ourselves in ensuring that our Building Managers take care of any maintenance concerns quickly and efficiently.
Renting often provides amenities you could never afford in a home you purchase. Many of Austeville’s rental buildings have gyms, swimming pools, manicured gardens—and even guest suites, so your relatives can visit and still have their own space.
Rental-specific buildings usually provide peace of mind that would otherwise be expensive. When you rent a suite in an Austeville building, you can rest easy with state-of-the-art building security and a secured parking area. Most of our buildings also have building managers who live on site and are able to keep an eye on things.
When you rent your home, you have freedom and flexibility often unavailable to homeowners. If an opportunity arises—like a new job in another city, the chance for an extended holiday, or maybe even a growing family—you have the option to take advantage of it without the hassle, and enormous costs, of selling your home.
Vancouver is one of the most expensive places in the world to live. For many of us, this means that homes we can afford to buy are in the suburbs, far away from work, friends and family.
All of Austeville’s eight residential rental properties are centrally located—whether it’s in the heart of Vancouver’s downtown, like Pacific Palisades on Robson Street, on the UBC Campus at Chancellor Court or above the West Vancouver seawall at Shorewood Manor. Renting with Austeville offers you lifestyle opportunities unavailable to many Lower Mainland buyers.
6. The bottom line
In study after study, experts point to the fact that the financial benefits of renting your home often outweigh those of buying a home, particularly in markets like Vancouver.
In addition to the obvious expense of real estate in Greater Vancouver, buyers have to budget for BC’s property purchase tax, legal fees and property taxes. Then there are the incremental costs of home ownership that really add up. Whether it’s replacing a broken dryer, repairing a roof, upgrading a bathroom or just buying gardening tools, home owners have to finance numerous expenses that renters can count on their property managers to cover. Even when it comes to insuring your belongings, tenant insurance is a fraction of the cost of homeowner insurance.
Perhaps most important, with a rental home and a reputable landlord like Austeville, there are no surprises. You can budget and save with confidence because you know your monthly rental cost and aren’t vulnerable to surprise repairs or mortgage-rate hikes.
To see Austeville’s rental suite availabilities, visit: https://www.austeville.com/residential