Parm Bains, pictured on July 28, chose to purchase his condominium at 5288 Melbourne Street in Vancouver.Jimmy Jeong/The Globe and Mail
Parm Bains grew up in Victoria and moved to Vancouver at the age of 19, in 2012, to pursue a career as a chef. He’d been living in shared apartments with roommates since then while working in restaurants across the city (he’s currently a cook at Rogers Arena). “Renting with roommates has its charm in your early twenties,” says Mr. Bains, who is now 33. “Then you start to realize the lack of privacy, freedom and personal space.”
He most recently rented a room in a townhouse in Marpole for $1,400 a month. Mr. Bains hadn’t considered buying a place of his own until 2023. “I got sober, and that was a big turning point,” he says. As he made positive changes to his life and saved more, purchasing a condo in Vancouver one day became a realistic goal. Then, in the summer of 2025, Mr. Bains’s dad offered to contribute to his down payment, which would put him in a position to buy.
At the beginning of 2026, Mr. Bains began taking his condo search seriously. He set a budget of $500,000 for a one-bedroom, one-bathroom unit. He needed a parking spot, since he drives, but being close to a SkyTrain stop was a perk in case he wanted to take public transit. He also hoped for a bright unit with tons of natural light and a great view.
“In the last 14 years, I’ve been in a lot of basement suites,” Mr. Bains explains. Also on his nice-to-have list were a private balcony and a shared gym. Location-wise, he wanted to stay in Vancouver so that he could easily meet up with friends downtown.
Quick sale in North Vancouver market where ‘everybody wants an 11 out of 10’
Mr. Bains enlisted the help of his friend, realtor Philip Yorke, to guide his search. “With the lower number of sales and the higher inventory, it skews the market into being buyer-friendly,” Mr. Yorke says of the current condo market. “This is a really good time to purchase.”
Here were Mr. Bains’s top three choices:
Renovated corner unit in Downtown Vancouver
While the condominium at 1188 Howe Street was a short drive or transit ride away, it didn't check all the boxes on Mr. Bains wish list. Mainly, there was no balcony.Jimmy Jeong/The Globe and Mail
Mr. Bains loved that this one-bedroom, one-bathroom, 550-square-foot condo was located in the heart of Downtown Vancouver, at Howe and Davie streets. Work was a 20-minute transit ride or an eight-minute drive away. The corner unit was bright with lots of natural light. While the building was constructed in 1994, the interior had been renovated with stainless-steel appliances and quartz countertops. The building came with a parking spot and a storage locker, and it had a shared gym and an indoor pool. However, there was no balcony. It was also listed near the top of his budget, at $484,000.
Small unit with a view in Renfrew-Collingwood
4815 Eldorado Mews had a balcony and natural light just like Mr. Bains wanted. But after living with roommates, he wasn't ready to sacrifice for a limited footprint and tiny bedroom.Jimmy Jeong/The Globe and Mail
When Mr. Bains first moved to Vancouver, he rented an apartment down the street from this condo building while it was under construction. “I would think to myself, ‘Man, it’d be nice to live there,’” he recalls. It was further from downtown, but he could still get there with a manageable 25-minute transit journey or a 20-minute drive, and the unit came with parking. The building, which dates to 2012, was bright with wall-to-ceiling windows and the kitchen had stainless steel appliances, including a gas stove. He liked that it had a balcony and, being on the tenth floor, a great view of the city to the mountains.
But the bedroom was so tiny that it couldn’t fit a queen mattress. The unit, which spanned just 414 square feet, was priced at $479,900.
Older unit with a separate kitchen in Joyce-Collingwood
The condominium at 5288 Melbourne Street is the furthest location from Mr. Bains' workplace at Rogers arena, but it had a balcony and a roomy space to fit what he needed.Jimmy Jeong/The Globe and Mail
While this condo was the furthest of the three spots he viewed, it was close to the Joyce-Collingwood SkyTrain station which would get him to Rogers Arena in 22 minutes. Mr. Bains loved the unit’s defined kitchen with a pass-through to a spacious living and dining area. The bedroom was roomy enough to accommodate a queen bed and a dresser, and the balcony had a nice view into the mountains and the Burnaby skyline. However, the unit was old (the building was constructed in 1998) with aging appliances that’d need replacing soon, along with the dated countertops. The 517-square-foot unit was listed for $469,900 and included a parking spot.
His home: Older unit with a separate kitchen in Joyce-Collingwood
The small unit was out of the running, given its limited footprint. Mr. Bains almost submitted an offer on the downtown condo, but ultimately chose the older unit. “It was one of the first places I saw that felt homey,” he explains. The neighbourhood, which was quieter and greener than the downtown condo, was also appealing. “It’s a pedestrian-oriented neighbourhood with parks, tennis courts and baseball diamonds nearby,” he says.
Mr. Bains bought the condo in April, 2025 and moved in a few weeks later. “It was very surreal,” he says of his purchase. “Not having roommates was amazing. Coming home from a 12-hour shift and just being able to melt into the couch and watch some TV was very nice.”
Mr. Bains' now home at 5288 Melbourne Street is a bit of a fixer upper, but he doesn't mind. He ultimately chose it because of the quiet, green neighbourhood and 'homey' vibe.Jimmy Jeong/The Globe and Mail
While the older appliances gave him a bit of trouble – the fridge was leaking water and a valve needed to be replaced – he enjoyed playing handyman. The only work he’s done on the unit so far is a fresh coat of paint, but he’s saving up to redo the countertops and will gradually replace the appliances with stainless steel models.
To host friends visiting from Victoria, Mr. Bains purchased a pullout couch. But when his parents are in town, he takes the couch and gives them the bedroom. “They’re happy because they don’t have to pay for hotel rooms any more,” he jokes. He sees himself staying in the unit for at least five years. “I’m very happy here right now,” he says. “It’s been a big mood-lifter for me, just having a nice place to call home.”
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