This weekend we looked at two rental suites in Gordon Head. Bigger 1 bedroom suites. One at $750/month plus 1/3 utilities, the other at $725/month plus 1/2 hydro, cable and other utilities included.
Considering we are currently in a 2 bedroom suite at $725/month inclusive, I kind of feel sick to my stomach. The thought of downsizing and paying more, not to mention living farther away from school and not on a direct bus route, just makes little sense. But in this market where stats indicate current rental vacancy rate at 0.5%... beggars can't be choosers. One positive, time is on our side.
This Tuesday we will reluctantly check out condos. We'll be looking mainly in the central park neighbourhood as it appears this may be best bang for the buck when you only consider square footage and building. The neighbourhood is trying to clean itself up, but after last week's police shooting, 7 units were put up for sale in the immediate area; could be coincidence, I wouldn't be so sure.
Condo criteria is two beds, at least one bath and in-suite laundry. No compromises on that. Would prefer to have two baths, but it's an unlikely find in our price range of under 225K. Prefer a building that allows renters, apparently these units are easier to sell.
We'll see. Next post after the Tuesday Hunt. Tell me your condo horror stories please. Help me convince my fiance that we shoudln't even look. Or, tell her your great stories and prove me closedminded.