It’s no secret that property in Vancouver is expensive. Canada’s third largest city is the priciest place to buy a home in the country and even ranks high on global indexes of unaffordability. If you’re willing to branch out a bit, you’re more likely to find affordable homes in Vancouver’s surrounding suburbs. Metro Vancouver (a.k.a. greater Vancouver) is made up of 21 different municipalities including Burnaby, New Westminster, Coquitlam and Richmond. While these areas are still expensive, they’re significantly more affordable than Vancouver proper. Plus, their expansive transit offerings, amazing culture and easy access to nature make them some of the best areas to live in Vancouver and beyond. Read on to discover five up-and-coming Vancouver area neighbourhoods for first-time homebuyers, including the latest listings on the market.
Maywood is a primarily residential neighbourhood with high walkability, transit and grocery access. Plus, it’s only a 20-minute Expo SkyTrain ride to Granville Station in Downtown Van. To drive the same distance takes around 30 minutes. Perfect for families, it’s home to Central Park, a massive urban green space with walking trails, picnic areas and tennis courts, as well as a pitch-and-putt golf course and outdoor pool. B.C.’s largest shopping mall, Metropolis at Metrotown, is also in the neighbourhood and boasts more than 330 shops. The Crystal Mall, a nearby Chinese market and Asian food court, is another local fave for whiling away a rainy weekend.
When it comes to shopping for affordable homes in Vancouver, you’ll save approximately 30 percent by buying in Maywood versus Vancouver proper. First-time buyers will most likely find success with a one- or two-bedroom condo in one of the neighbourhood’s modern high-rise buildings. Close to transit but surrounded by green space, these homes combine the best attributes of B.C. living. To learn more about the housing options, check out these properties for sale in Maywood.
A little farther inland sits New Westminster’s Downtown district, one of the best areas to live in Vancouver. Located on the bank of the scenic Fraser River, it’s the hub of Western Canada’s oldest city and is filled with historic buildings, vintage shops, theatres and art galleries. New buyers looking for a vibrant community to call home will be impressed by the area’s diverse food offerings such as The Tannenbaum Restaurant for German/Bavarian cuisine, Kioku Kitchen for Japanese fusion and WhataFood for authentic Brazilian street food. There’s also plenty to entertain, from artist talks at New Media Gallery and weekly pottery classes at Palette Art to theatre productions at Douglas College. Plus, the trip to Downtown Vancouver only takes about 30 minutes, whether by car or the Expo SkyTrain which passes directly through Maywood, Burnaby, on the way.
These comparatively affordable homes near Vancouver are just over half the price of a place in Downtown Van. Though a standalone house won’t be found in the neighbourhood, there is a range of low-, mid- and high-rise buildings with something for everyone—from bright, minimalist units with state-of-the-art amenities to quirky condos overlooking the area’s heritage buildings. Discover your buying options for Downtown New Westminster.
Located about a 60- to 80-minute SkyTrain line from Downtown Vancouver along the Millenium and Expo lines or a one-hour car ride, the Town Centre of Coquitlam is the ideal homebase for nature lovers who like modern amenities. While the neighbourhood itself is filled with high-rises, hiking trails are a short drive away in a massive network of interconnecting parks such as Minnekhada Regional Park and Pinecone Burke Provincial Park. Even closer by, Town Centre Park is well-stocked for family activities and sports including baseball, basketball, fishing, track running, sand volleyball and more. The area is also home to many outdoor festivals, from Coquitlam Pride and Caribbean Days in July to the BC Dumpling Festival in August. If you and your family like to keep active and busy, Town Centre is the community for you.
To live here, you’re looking at spending around half the average amount you would in Vancouver—and you have options. If you like a high-rise that’s so new it sparkles, there are units available. If you prefer a sprawling low-rise with old-world charm and your own fireplace, you can find that, too. And if you have more budget flexibility, a standalone three- to four-bedroom house with an attached garage may be a possibility. See all the Town Centre properties currently listed.
This up-and-coming neighbourhood in Vancouver’s Metro area is also considered the urban core of Richmond. It’s well-known for its excess of delicious and affordable Chinese restaurants like Bamboo Grove, Golden Paramount Seafood Restaurant and Empire Seafood Restaurant, to name a few. Love dumplings? Try The Dumpling Trail, 17 different eateries with Richmond’s best fried, boiled and steamed delights. Families will appreciate the many schools in the region, while frequent flyers will enjoy Brighouse’s proximity to Vancouver International Airport: a 10-minute drive. To get downtown, it’s a 35-minute ride on the SkyTrain’s Canada line from Richmond-Brighouse station.
Though homes are a bit more expensive in Brighouse compared to the Town Centre of Coquitlam, a first-time home buyer can find some pretty amazing deals if they’re willing to put in the work to modernize a 1970s-era condo. Of course, there are plenty of turnkey condos for sale, too, primarily in buildings with 15 floors or less. For-sale houses are rare and have hefty price tags, even if they need significant work. Check out listings in Brighouse Village.
The most affordable neighbourhood on the list, Cameron in North Burnaby, is about a 40- to 50-minute SkyTrain ride from Downtown Van or a 30-minute drive. Golf lovers will enjoy the nearby Vancouver Golf Club, set within 176 acres of woodland. There’s also easy access to Keswick Off-Leash Dog Park for pet parents, as well as Burnaby Lake Regional Park for on-leash fun—not to mention canoeing, kayaking and birdwatching. Parents will appreciate the plans for the Cameron Community Centre ($267 million to renovate the library and create two swimming pools, a 10,000 square-foot weight room, double gymnasium, café and more), which are set to be completed in early 2028. Simon Fraser University is a 10-minute car ride away.
By living in Cameron, you’re likely to get a two-bedroom condo for the price of a one-bedroom in most other suburbs, particularly if you’re willing to live in an older building. Though these spaces may not have as much natural light, they tend to be quite large for the price. Of course, there are plenty of other units in brand-new buildings with floor-to-ceiling windows, and they’re still significantly more affordable than anything you’ll find in Metro Vancouver. Discover Cameron homes currently for sale.
This article offers general information only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While the information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or its affiliates.
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