Living in British Columbia is expensive. A recent report from CTV news says owning a home is basically a “distant dream” in markets like this. Fact is, home ownership is a real issue in most Canadian cities, especially if you live in Vancouver (which I do).
Finding affordable apartments is no different. In 2019, the government of BC took steps in an effort to help alleviate the issue, but it remains a fact that finding affordable rentals in BC (as well as other major Canadian cities) is increasingly difficult.
As a student, you need a place to live while you’re learning. Your choices for student accommodations can be varied, and as a UBC student, it’s important that you meet a variety of needs for those accommodations. Discovering the right place to live can completely change the way you’re able to interact with your college experience. Here are the steps I took to find the best form of housing at UBC, with some knowledge of my previous accommodation hunts.
1. Figured out a Monthly Budget
The first step is going to be figuring out your monthly budget. This will give you a better idea of the types of housing that you’ll want to pursue, whether you’re living on-campus, living by yourself off-campus, living off-campus with roommates, or even something completely different, like renting a short-term location.
Most experts suggest that you stick to no more than 30% of your monthly income dedicated to housing. However, depending on your other monthly costs, you may be able to get a bit higher to 40% or even potentially 50%. Working backwards can be helpful here; write down all your other monthly costs, like utilities, transportation, internet access, phone service, food, and other purchases you typically make, then see how much you have left. Here are a few easy tips to save on unnecessary spending and save money:
Get a Roommate
This one is obvious, and it will save by far the most money. The average cost of a one-bedroom apartment is skyrocketing . A roommate will also help with shared expenses like utilities, kitchen supplies, toiletries and groceries.
Negotiate When You Renew a Lease
Landlords want to keep good tenants. It costs them money to move you out and bring someone else in. That means you have some leverage.
Pay Upfront
Offer to pay the entire lease or at least a few months upfront for a discount if you can afford it. The landlord may cut a deal to have cash in hand, but it’s only an option if you have enough savings to cover and then some.
Save On Your Energy Usage
Your electrical bill is usually the next most important and relevant expense after your rent. The good news is that you can control your electrical bill more than your rent! Turn off the lights when not using them, unplug unused appliances (this phenomenon is commonly referred to as a “phantom load” or “vampire energy) and cut down on heating/cooling goes a long way. Make sure to check out BCHydro’s article on saving on heating in the winter, and you can read more about the energy consumption of different ACs in this article I found on a premium-electric.ca.
Give Up Your Parking Space
If you don’t have a car, you don’t need a parking space. Offer to give it up in exchange for discounted rent. The landlord would be able to sell the space to another tenant, who might need extra parking, or find someone you can rent it to directly.
2. On-Campus vs. Off-Campus Housing
Before you really start looking for the right location, it’s a good idea to think about whether you want to live on-campus or off-campus. The options and benefits that come along with each can be beneficial for different students.
On-Campus Housing Options and Benefits
Most colleges will provide some kind of student housing on campus. UBC offers its own student residence options; the Vancouver campus alone has 15 residences with 13,000 students. Some of the benefits of living on-campus include:
- Easier access to on-campus amenities
- Less time spent commuting
- More access to your student community
- Rent often includes utilities and a meal plan
- Access to residence services, often staffed by other students
On-campus housing can be a great option if you really want to maximize your on-campus time. However, it’s common for there to only be a certain amount of housing, so even all the people who want to house on-campus may not be able to.
Off-Campus Housing Options and Benefits
If you’re interested in renting your own apartment off-campus, whether because you prefer to or because there are no on-campus options, there are a number of options available. You’ll typically want to try and find a location within about 10-20 minutes from the university. Some of the benefits of living off-campus may include:
- Sharing the cost of rent with multiple people
- More choice of your roommates
- Learning how to live on your own
- More options in housing styles
- Potential to save money
If you’re looking for a more free-roaming method of the college experience, off-campus housing is a great option. You have significantly more control over your college accommodations when you use off-campus housing as opposed to on-campus housing.
3. Average Cost of Rentals
So, how expensive should you expect your rental to be? The truth is that cost will vary dramatically. A good starting point for off-campus housing is around $700-$1,000 CAD per month for shared housing. Non-shared housing may run you higher, although your price will inevitably depend on the location where you live.
A good option is to utilize a website like Bwalk.com (Boardwalk Rentals) to get an idea of rental prices across the country for different sizes of homes. For example, you can find an Edmonton 1 bedroom apartment for around $900 per month, whereas some of the more expensive Calgary 1 bedroom apartments are closer to $1,300 per month. That being said, there are two options for cost that will change the end amount you pay.
Sharing an Apartment With Someone Else
If you want to reduce the cost of your apartment, you may want to share your apartment with someone else. That may mean you and a few of your friends all going in on a specific apartment, or it could mean getting an apartment with someone who’s advertising a sublease. Either way, it’s almost always going to work out to be cheaper.
Most of the time, an extra bedroom is about $200 more than the baseline for a 1 bedroom apartment. In the same location, you could find a 1 bedroom apartment for $1,300, but a 2 bedroom apartment for $1,500. If you and a friend go in on the 2 bedroom, each person’s individual rent price will go down dramatically.
Renting Your Own Apartment or Home
Although price is the main selling point for sharing an apartment, privacy and individuality is definitely the main selling point for having your own. When you have your own apartment, you simply don’t have to worry about anyone else in your apartment, meaning you can decorate and maintain it however you like.
To determine whether this is a possible option for you, it’s a good idea to go back to your original budget. Is your budget closer to $1,000+ for renting, or is your budget closer to $600-$700 per month? If it’s the former, you may be able to find an apartment, with your chances rising as your budget gets higher. If it’s the latter, you’re probably going to want to look to share an apartment.
4. Commuting to and From School
This goes back to location. The closer your apartment is to UBC, the less time and money you’ll have to spend on the commuting. This is especially pronounced if you’re choosing between an apartment that’s half an hour away versus an apartment that’s only about 10 minutes away – that’s 20 minutes per ride, which works out to almost three and a half hours over a five-day week.
This problem will likely get even worse if you don’t have access to a car on a regular basis. Having to rely on the bus system can be a huge pain, especially if you’re a significant amount of distance away. Remember to factor the commute time in when you’re trying to find a great apartment within your budget – if you can’t find anything close enough in your budget, consider teaming up with someone else to rent together.
5. Understanding Apartments vs. Homes
If you’re planning to rent off-campus, there are multiple options available. Most commonly, you’ll be choosing between an apartment, which is a single unit in a large building full of units, and a home, which is its own standalone building.
Apartments can have many community amenities, like pools and clubhouses, that every member of the community can use as part of the apartment. Additionally, some apartments pay for some or all of your utilities, which often isn’t rolled into the rent of homes. Lastly, apartments are typically cheaper than homes, as they can be much smaller and there are more of them in a single building.
On the other hand, individual homes can give you significantly more space and freedom. It’s also more common for homes to be in areas that are further away from main streets, giving you a little bit more privacy and shelter from noise pollution. Plus, if you don’t tend to be very social, you don’t have to deal with other people living so close nearby.
Conclusion
Student accommodation in Canada can seem very difficult, and it’s certainly more difficult than just finding an apartment. After all, there are many more things for you to think about. However, with just a little bit of knowledge, you can know exactly what you’re looking for. The most prominent elements to consider are the price, the choice between on-campus and off-campus housing, the choice between apartments and homes, and your commute time. If you can make sure you’re choosing the right option for all of these things, you can make sure your time at UBC is productive and enjoyable.