Vancouver remains one of the most expensive cities in Canada, which is why the question “Should I rent or should I buy?” continues to be one of the most common concerns among young professionals, families, and first-time home buyers.
Based on 2025–2026 market data and real cost comparisons, here’s a clear, easy-to-understand breakdown to help you make the best decision for your situation.

1. Renting: Flexible and Low Commitment, But You Don’t Build Equity

Pros of Renting

• No need for a down payment

• Flexibility to move cities or change jobs

• No strata fees, repairs, or maintenance costs

• Suitable for those unsure about staying long term

Cons of Renting

• Monthly rent does not build equity

• Vancouver rents have been rising steadily for years

• Limited control over lease renewals

• Some buildings restrict pets

Real Example:

A 1-bedroom in central Vancouver rents for:
$2,600 – $2,900 per month (Rentals.ca)

This money does not come back to you in any form — it is 100% an expense.

2. Buying: Long-Term Stability and Wealth Building, But Requires Financial Preparation

Pros of Buying

• Builds equity over time

• Full control over your living space

• Long-term housing stability for families

• Potential for capital appreciation

Cons of Buying

• Requires a down payment (5%–20%)

• Additional monthly expenses:

  • Strata fees

  • Property taxes

  • Home insurance

• Responsible for repairs and maintenance

Real Mortgage Example:

Condo price: $700,000
Down payment: 10%

Estimated costs:

• Mortgage: $3,200 – $3,600/month (depending on interest rates)

• Strata fee: $300 – $450

• Property tax: ~ $150/month

→ Total monthly cost may equal or exceed renting — but you are building long-term equity instead of paying someone else’s mortgage.

3. So, in 2026, Should You Rent or Should You Buy?

Buying may be the right choice if:

• You plan to stay in Vancouver 3–5+ years

• You have a stable income

• You want to build your own equity instead of paying rent

• You find a well-priced property in a strong location

Renting may be the better option if:

• You’re not sure about long-term plans in Vancouver

• You don’t have enough for a down payment

• You need time to improve credit or debt ratios

• You prefer lifestyle flexibility

4. Final Thoughts: There Is No Universal Answer — Only What Fits Your Life

The key is understanding your financial reality, long-term goals, and the current market environment.
Vancouver is an expensive market, but it is also stable, high-demand, and resilient. Many areas continue to appreciate consistently over time.

If you’re unsure whether renting or buying is right for you, start by comparing:

• What would your real mortgage payment be?

• How does that compare to current rent for similar units?

• Where do you see yourself in the next 3–5 years?

Need a Personalized Rent vs Buy Analysis?

If you want a breakdown tailored to your income, budget, and preferred neighbourhood, feel free to message me.

I’m Emily Vu – Vancouver Realtor, and I’m here to help you make the most informed and confident decision for your future.