Top 10 affordable neighbourhoods in Greater Vancouver for first-time buyers

There’s no way around it. Even with the recent drop in home prices, many first-time buyers in the Lower Mainland are still finding it hard – or even impossible – to buy a home. But for those who are willing to look a little further afield, there are several up-and-coming communities where buyers can still find a bargain (or at least, a home they can actually afford!).

If you’re in the market for your first home in the Greater Vancouver area, here are 10 affordable neighbourhoods that should be on your shortlist for serious consideration:

1.     Renfrew-Collingwood—an emerging East Vancouver neighbourhood that combines reliable transit options with a great mix of older properties and new condo projects, and offers terrific value for your money.

2.     Hastings-Sunrise—a centrally-located community that’s especially great for young families, with green spaces like the popular New Brighton Park, a great mix of services, and a variety of spacious but affordable homes, townhomes and low-rise apartments.

3.     New Westminster—one of the province’s fastest-growing communities, New West exudes classic historic charm, offers exceptional walkability and has a great “small town vibe.”

4.     Burnaby—with a suburban feel but plenty of dining and recreation opportunities, Burnaby gives buyers direct access to the shops and stores of Metrotown as well as proximity to downtown Vancouver, the Burrard Inlet and the North Shore Mountains.

5.     Richmond-Bridgeport—an excellent choice for investors, Richmond has a wide range of new housing developments available at a price that can often be hundreds of thousands of dollars lower than comparable properties in Vancouver, West Vancouver or Steveston.

6.     Coquitlam—one of the Lower Mainland’s best-kept secrets (at least for a little while longer!), Coquitlam gives homeowners a perfect mix of urban living with easy access to parks, extensive walking and cycling trails, and spectacular natural beauty.

7.     Surrey—once seen as a little sleepy, Surrey has grown to become one of the region’s top choices for first-time buyers, offering everything from multiple SkyTrain stations to family-friendly parks, vibrant shopping, and a diverse mix of affordable housing options.

8.     Langley—a highly sought-after community with easy access to the great outdoors, a slew of new condos and shopping options, and even a planned expansion of the SkyTrain for quick and easy access to the rest of the Lower Mainland.

9.     Port Moody—one of the best bets on our list for first-time buyers, Port Moody features a unique combination of trendy boutiques and breweries, kilometres of waterfront parks and walkways, great prices on new and resale condos, and a welcoming, small-town feel – all with the West Coast Express and two SkyTrain stations on your doorstep.

10.  Maple Ridge—while it may take residents a little longer to get to downtown Vancouver, Maple Ridge is a peaceful and quiet place to call home that offers buyers a strong sense of community and some of the best real estate bargains – and largest living spaces – to be found anywhere in the Lower Mainland.

Questions?

Curious to find out more about any of these areas? Contact us to schedule a free consultation.