From towering skyscrapers to sturdy bungalows, Vancouver’s housing stock is among the most diverse in the world, giving homebuyers virtually limitless options when looking for a home to call their own. Just about any neighborhood in the city offers a variety of housing styles and a choice between existing, new-construction or restored heritage homes.
Following is a brief rundown of the types of residences you’re most likely to encounter during a home search:
Single-Family Homes — Officially defined as a residential structure that includes only one dwelling, single-family homes are readily available in most of Vancouver’s neighborhoods with the exception of the downtown peninsula. However, buyers should be prepared to pay a premium for the extra land, privacy, square footage and outdoor space a single-family home affords. The variety of single-family homes in Vancouver is vast and includes west coast bungalows, Victorians, row homes, modern homes and multi-million dollar mansions.
Condominiums — Purchasing a condominium in a multi-unit building means the buyer owns an individual unit as well as a share of the building’s common areas , such as the lobby, corridors and amenity areas. Many buyers choose condominiums because they require little maintenance, frequently offer amenities such as a swimming pool or fitness center, and in most cases are relatively affordable compared to town homes or single-family homes.
Because of the shared ownership, a condominium (Strata) association is responsible for decisions regarding the operations of the building, and owners must abide by the rules and regulations set forth by the strata association. Condominium owners also pay monthly strata fees, which cover maintenance and repairs of common areas as well as costs associated with shared amenities.
In Vancouver, condominiums run the gamut from new-construction high rises with striking views and luxury amenities, to vintage walk-up buildings with charming elements such as original hardwood floors and built-ins.
Lofts — Traditionally, a loft is a home adapted from a large open space in a factory, warehouse or other commercial building. Hallmark features of an authentic loft include high ceilings, large windows, exposed timber or concrete support columns, timber or concrete ceilings, exposed brick walls and exposed ductwork. In recent years, buildings in many of Vancouver’s former manufacturing and industrial districts in Yaletown and False Creek neighbourhoods have been converted to residential lofts thanks to demand from buyers who appreciate the urban style and open, airy layouts. In fact, loft homes have become so popular that many developers now build “soft-loft” or “loft-style” buildings. These are actually new-construction buildings that replicate the layouts and distinctive styling of a true loft conversion. Examples of these exist in the Gastown and Crosstown areas.
Town Homes — Town homes are multi-level dwellings that share at least one common wall with a neighboring home, which typically has a similar façade. In downtown areas, where land costs are high, town homes tend to be more affordable than single-family homes since they use land more efficiently. Likewise, the common walls and roofs of town homes lessen construction costs for developers. Town homes are usually low-maintenance and offer buyers many of the features they would typically find in a single-family home, such as ample living space, a private garage and an outdoor area. However, town home buyers may have to compromise a bit on privacy due to the proximity of their neighbours.
