Cashing out – to smaller BC communities

oak bay

As traffic jams get worse and real estate values skyrocket, an increasing number of Vancouverites wonder— is cashing out of this place an option for me? When can I move somewhere quieter?

The advantages of cashing out seem perfectly obvious. Quiet streets where parking is never a problem, neighbourhoods where you can leave the door unlocked, boat ramps that you can back your trailer into without waiting in line—these are the kinds of scenarios people imagine when they’re stuck in traffic on the Port Mann Bridge.

Some simple math tells the story. In September, 2017, the median price of a home in Vancouver was a whopping $3 million. Almost as surprising is the fact that the median condo price was close to $1 million. The median house price in Vernon—a sunny, peaceful town at the north end of Lake Okanagan—was $524,000. An apartment can be purchased for less than half that price. That puts a lot of money in your pocket to retire wealthy—and to travel back down to the city to visit friends and family.

Posted in Editorial