Jeff Tisdale
I Can Breathe in a Small Town …
I
n the early 1980s, singer John Mellencamp penned his thoughts in a song about what he thought were the differences between city and country life and ultimately what his preference would be. There were not any verses on affordability nor was Airbnb part of the chorus—how times have changed. In the nearly 40 years since Small Town first hit the radio waves, the ability for the typical person to choose between small-town and big-city living is less of an option. For simplicity, consider the following charts comparing median housing values as well as a modest homeownership cost comparison.
Median House Price Survey (July/August 2018) Region
Detached
Greater Vancouver
$1,561,000
$846,000
$695,000
Fraser Valley
$1,008,700
$548,000
$443,200
$635,000
$460,000
$265,000
Chilliwack and District
Townhouse
Condo
Source: CREA
Simple House + Car-Transportation Cost Comparison Region
75% Purchase Price1
Monthly Extra Total Payment2 Transportation Monthly Costs3 Cost4
Gr. Vancouver
$1,170,750
$5,845
–
$5,845
Fraser Valley
$476,250
$2,375
$1,000
$3,375
A more in-depth study was published by Metro Vancouver ‘Housing & Transportation Cost Burden Study (2015) 5
restaurants)—through Skype, Google Docs, and so on— and to do so from home. Sure, big cities have more choices for eating, shopping, and mass transit, but the small town makes up for it with a fresh local vibe, the personalization of a small business, and the occasional car pool with a neighbour or friend. Technology is great, but geography is still geography. To fly out of YVR, you still need to get to YVR. There are regional airports like those in Abbotsford, Kelowna, and Prince George, but most direct connections and international departures are out of YVR, so there’s a point for the big city. Maybe. In today’s age of 24/7 connectivity, that “hindrance” of geography could lend itself to enable you (the driver) to take a break from emails, texting, tweets, Facebook, and Instagram updates. Imagine just listening to the radio or even silence. Perhaps life in the country is not so bad. For my situation, I have the best of both worlds. The Landcor office is in the heart of New Westminster and benefits from proximity to transit. I am a frequent user of SkyTrain throughout the Metro Vancouver region. The City of New Westminster continues to grow and evolve and is slowly (and methodically) taking on more of a big-city persona that is inevitable, albeit thoughtfully planned. I live in Chilliwack and have done so most of my life. For me and my family, it’s a great community to get out and enjoy the outdoors, whether on a bike path, hiking/running trail, casting a fishing line and, of course, making a pit stop to pick up some fresh corn. All are never too far away. I tend to side with John Mellencamp’s opinion of small towns and to borrow a few lines from his song. Got nothing against a big town But my bed is in a small town Oh, and that’s good enough for me! s
On a more positive note, the majority of the way we go to work has changed considerably. Technology continues to create opportunities to work productively away from the traditional office (hello local coffee shops and
Jeff Tisdale is Chief Executive Officer of Landcor Data Corporation.
1
Focus on Detached Property Median Price with 25% down payment
4
2
Purchase price, 25-year amortization, 3.5% interest rate
3
ssumption based on requirement for additional vehicle with added costs A such as loan $400; Gas $300; Insurance $180; Maintenance $120
48
TABLE OF CONTENTS
NLY considering mortgage payment and added vehicle costs; O Property Taxes, etc., not considered
5 www.metrovancouver.org/services/regional-planning/ PlanningPublications/HousingAndTransportCostBurdenReport2015.pdf
The Society of Notaries Public of British Columbia
Volume 27 Number 3 Fall 2018
