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A home for sale in the MacKenzie Heights neighbourhood of Vancouver, August 3, 2011. PHOTO: Jeff Vinnick for The Globe and Mail
A home for sale in the MacKenzie Heights neighbourhood of Vancouver, August 3, 2011. PHOTO: Jeff Vinnick for The Globe and Mail

Buyer Diaries

Vancouver renter puts real estate search on ice Add to ...

We hope you've enjoyed our Buyer Diaries feature. The Globe and Mail would like to thank our bloggers, Carl, Kristin, Corey and Angela for sharing their stories with our readers. Here's where you can find a recap of Week 1, Week 2 and Week 3.

Kristin, 33, loves renting in Burnaby, a suburb of Vancouver, where she and her husband work. Since the couple’s first child came along six months ago, however, she’s decided it’s time to find a bigger home.

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Lifestyle is important. Her husband is a landscape architect and they both like gardening, so a sizable yard is a must. They’re willing to relocate to a smaller city – Victoria or Nanaimo – in order to find the space they want. For Kristin, a mechanical engineer, it might mean finding another job for less pay, but it’s a sacrifice she’s willing to make.

With a $500,000 budget, however, a large property might be hard to find in an expensive city like Vancouver. So Kristin is looking for a fixer-upper, something affordable that she can add value to.

Household income: $127,000

Budget: $500,000

Status: Renter

Financing: $50,000 down payment, $450,000 mortgage

Goal: Detached home, minimum three bedrooms, two bathrooms. Looking for a fixer-upper with a large yard.

Challenge: Large Vancouver properties may be beyond her budget.

Read about Kristin's house-hunting experience in Vancouver.





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