As previously mentioned, the fact that Vancouver is a growing metroplitan yields to the fact that new housing will always be in demand. That demand will be greater in some areas than in others and the demand itself will be dependent on the economic situation at the time. In an economic boom, the demand and the development will be greater than would be the case if there was a recession. Given the current situation at present, with the recent world events and the economic situation within Canada, the demand and the developement of new residential dwelllings is not at its prime. However, I am doing this project without those variables influencing my final decision on where to build. That isn't to say that price might not be a factor but that the decision will be made without any biases towards the economy, etc.

One of the influencing factors into which I made my hypothesis was cost. The cost of land in some municipalities within the Lower Mainland is far greater than other places. For example, land near the downtown area of Vancouver will be substantially more expensive than land in the suburbs, for instance, in Surrey or Langley. Therefore the price in which a potential homeowner would pay would also be more expensive. I am doing the project on the assumption that as a developer, I would have unlimited amount of money to fund and build any type of residential building. However, I most take into account the price of homes within a region. This price varies significantly as just mentioned. In 1996, in the city of Vancouver, the average price of a detached home was around $371000, which was 40% higher than in Canada's most populous city, Toronto. The city itself is one of Canada's most expensive markets. Even more expensive is the city of West Vancouver, the average value, of any home, is around $600000 while in Vancouver, any type of home has an average price of over $400000. On the other hand, the City of Langley has an average price of under $190000. Clearly, when making a final decision, the fact that those three municipalities have a clear contrast in housing prices, will be a strong factor.
 

There are many possible criteria that could be used to help determine suitable developement areas. Price, distance from the city centre, etc. could be used. However, I want to know the areas in that may have a greater chance of surviving through a natural disaster. While I do not want to lose money based on a poor location in which nobody want to live, I do not want to lose money through a natural disaster. The area would be insured but I would not want the hassle of having to rebuild the whole developement or even a large portion of it. Understanding that it is next to impossible to survive an earthquake, flood, etc. unscathed, I believe that the criteria I am using will help pinpoint some locations that will have a larger chance of mitigating damage in the event of a natural disaster.

To begin with, I am looking for any type of landuse that supports residential housing, of any type, be it single person dwellings or townhouses. Next am I looking for areas of land that are 25 metres above sea level. This is to ensure a minimum risk of flooding should it occur. This is especially prevelant for areas near and around the Fraser river. I also want to look at areas that have a smaller slope. If a dwelling is built along a steep slope, there is a greater chance of collapsing during an earthquake or sliding downhill during a landslight, caused by heacy rainfall. I also intend to build on soil believed to be most stable. This may limit my areas and increase cost but the cost is not a factor and I can make an easier decision if there is less available land to choose from. Though not major criterias, I will also use the placememt of major roads and proximity to water to aid my final decision.