Kicked to the Curb

I received news recently from my landlord that they are putting my Yaletown apartment on the market.  Why! Good lord, why!

Even though I had a one-year lease which renews in February of next year, the landlord decided that the Vancouver real-estate market was heating up and their daughter no longer wants to keep the apartment in favour of her legal career in Calgary.  She did try to make up for the inconvenience by giving me an extra $300, 1 month’s rent and a Starbucks coffee card (it’s my 4th card from her).Yaletown view

Now comes the tough part.  I have just over a month to find a new apartment for November 1st.  Even though I can afford living in Yaletown, it’s getting quite ridiculous as a single bachelor to fork over $1500 (that’s the going rate) a month to live in this yuppy neighbourhood.  Yes, it’s convenient – it’s about 50 steps from my door to my desk.  Yes I’m close to the cheap good eats, the seawall and local bars.  But where do you draw the line between convenience and insanity?  $1500 a month works out to $18,000 a year towards a mortgage.

Getting a roommate is not an option.  And I do need to be in close proximity to great restaurants, grocery stores and great eye candy – and Yaletown definitely has that!  I’m not asking for the world here – throw me a freakin bone!

I have lots to think about….Should I buy another apartment in this market to avoid throwing away rent? Should I rent for the time-being while Vancouver figures out the consequences of the Winter Olympics on local real estate?  Can I live outside of the downtown core for the first time in 6 years?

Anyone else gone through this situation?  I would love to hear your opinions.

ps. I searched Craigslist today and there’s a unit 3 floors down from me which is exactly the same floor plan – how weird would that be!

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