Home Builders Vancouver Answers: Living Urban or Suburban?

The real estate landscape in Vancouver, British Columbia, has seen a significant shift in demand for homes. This stretches from the bustling downtown core to the tranquil suburbs, and home builders Vancouver are up to these changes. 

Various factors drive the growing demand for homes in this urban-to-suburban spectrum. In this blog, we'll help you see the highlights of the characteristics, benefits, and challenges of constructing in urban and suburban settings.

Growing Demand

The greater Vancouver area has long been a magnet for those seeking to call this beautiful city their home. However, the reasons for choosing where to build a home have diversified over time. 

Canada is getting ready to welcome more people from other countries, but a new report says they will need to build many more houses than they initially planned. This report, created by economists from Desjardins, suggests that to avoid making houses more expensive, they must build 100,000 extra houses each year in 2023 and 2024. 

This helps balance the number of new people coming in with the number of homes available. However, this would require significant effort and special policies to make it happen. It's estimated that they'd need to increase the number of new houses being built by almost 50% compared to their usual plans and keep it that way until 2024 to prevent home prices from increasing too much.

While downtown Vancouver was once the epicentre of all things urban living, more and more homebuyers are exploring the suburbs, looking for a different way of life.

Downtown Vancouver: High-Rises, Condos, and Townhouses

Downtown Vancouver is known for its modern, high-rise buildings, condominiums, and townhouses. Due to limited space in the city, builders often focus on maximizing the available area. This results in efficient designs that make the most of the land and offer residents a high degree of convenience.

Benefits of Building Downtown

• Downtown Vancouver is at the heart of the action, with easy access to businesses, restaurants, cultural venues, and public transportation. Residents enjoy a lifestyle within walking distance of nearly everything they need.
• Many downtown developments come with many amenities, such as gyms, rooftop gardens, and concierge services, adding to the luxurious living experience.

Challenges of Building Downtown

• Downtown Vancouver's limited land availability is one of the most significant challenges. Builders have to think creatively to make the most of every square foot.
• Strict zoning regulations often mean that developers need to adhere to specific guidelines that can limit the height and design of buildings. This can be a hindrance to some construction projects.
• The demand for housing in downtown Vancouver is continually high. This makes it competitive for builders and driving up real estate prices.

Suburban Vancouver: Detached Houses, Larger Plots, and Garden Spaces

Detached houses, larger plots of land, and garden spaces characterize suburban Vancouver. Builders focus on creating homes with multiple bedrooms, outdoor spaces, and proximity to schools and parks.

Benefits of Building in the Suburbs

• Suburban homes generally offer more square footage for residents, More ample space for families to grow and thrive.
• These homes often come with private yards, gardens, and outdoor spaces. Ideal for those who enjoy spending time in nature.
• The suburbs are typically quieter than the bustling city. Provides a peaceful environment for homeowners.

Drawbacks of Building in the Suburbs

• Depending on where in the suburbs one chooses to build, the daily commute to the city can be longer, which will not be ideal for those working in downtown Vancouver.
• Suburban areas will not have the same level of access to restaurants, entertainment, and cultural activities as the city.
• While suburban communities are growing and improving, they will not have the same infrastructure level as the city, which can affect services and amenities.

The Home Building Process

Working with Other Building Professionals

To successfully build a home in Vancouver, builders must collaborate with various professionals, including architects, engineers, surveyors, contractors, electricians, plumbers, and interior designers. These professionals ensure that the project meets all the necessary standards and codes.

Vancouver's building codes and regulations are known for their stringency. The city places a strong emphasis on safety, sustainability, and energy efficiency in its building standards. Developers and builders must adhere to these guidelines, which can sometimes lead to delays and increased costs.

The Cost Factor: Downtown vs. Suburb

Cost is a significant consideration for anyone looking to build a home in Vancouver. The price differences between buildings in downtown Vancouver and the suburbs can be substantial.

Downtown Vancouver's limited space and high demand often increase land and construction costs. The cost per square foot for properties in the city center tends to be significantly more expensive than in suburban areas.

In contrast, suburban land is typically more affordable, and larger lot sizes can offer better value for your investment. Construction costs in the suburbs can also be lower due to fewer space constraints.