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Saving Money On Your Top Expenses in BC – Expense #1: Housing

With the cost of housing sitting at number 1 on the list of top expenses in British Columbia, chances are you are eager to find ways to save on your housing costs. We’ve gathered our top tips to help you save money on your highest expense, whether you’re an owner or a renter.


moving the home insurance people

  • Compare Home Insurance Prices

Chances are, you are paying too much money for your home insurance. At Harbord- The Home Insurance People, we shop the market for you and provide several home insurance quotes to ensure you get the best policy at the best price. We save our clients hundreds, sometimes even thousands of dollars, on their home insurance policies. You can save money by switching, and you don’t have to wait until your renewal date. Give us a call, and we can make it easy.

  • Consider Airbnb

When you go away on holiday, your house is likely sitting empty. Take advantage of this opportunity to list your home on Airbnb and make some extra money while you’re away. This is especially useful if you live close to any popular tourist attractions.

  • Check If You Qualify For First-Time Homebuyers Discounts

The government of B.C. offers a program for first-time homebuyers, which can eliminate or reduce the amount of property transfer taxes you’ll pay when purchasing your first home. Check here to see if you qualify.

  • Check If You Qualify For Any Home Insurance Discounts

One of the reasons it pays to get multiple home insurance quotes from various insurers is that they all offer different discounts for different things. At Harbord- The Home Insurance People, you can expect your broker to check which discounts you may qualify for. Some of these may include age discounts, credit status discounts, alarm system discounts, and more.


  • Live With A Roommate

renters the home insurance people
Living with at least one roommate can significantly reduce some of your highest expenses, such as rent and utilities.

  • Start Your Search Early

Give yourself enough time to look at multiple places, allowing you to compare essential aspects such as monthly rent prices.

  • Be Flexible With the Location

Some neighborhoods are more expensive than others, so if you’re flexible with location, your chances of saving money on monthly rent are much higher! We know it’s tempting to want to be close to the hustle and bustle of the city, but neighboring areas tend to be cheaper while still being reasonably close to the city center.

  • Consider Purchasing Tenant Insurance

We are often asked if tenant insurance is necessary, and while it’s not mandatory in B.C., many reputable landlords may require it as part of their rental agreement. You will rarely be covered under your landlord’s insurance if something devastating such as a flood or fire, happens. Tenant insurance can be as low as $20/month, and we offer various discounts at Harbord- The Home Insurance People. Complete our online questionnaire, and all the discounts you qualify for will be worked into the competing quotes.

  • Negotiate When You Sign Your Lease

Landlords like stability, so consider offering to sign a longer lease for a lower price, especially if you’ve been their tenant for some time and are re-signing. Or, if you have enough money saved up, you could also negotiate a lower price by offering to pay for several months upfront. It never hurts to ask!

Get In Touch!

That concludes our tips on keeping costs as low as possible for the number 1 expense in British Columbia, housing.
Contact us to speak with one of our knowledgeable brokers about home, condo, or tenant insurance today, and stay tuned for more saving tips!

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