50k CAD for 2 adults, dog, and a baby?

I hate to disappoint you, but its fairly unlikely that you could get by on 50K (I take it this is a combined income, not per adult?)

Unfortunately, near UBC is one of the most expensive parts of Vancouver to live in. Unless you get a rather shitty basement suite, expect to pay at least $2000/month in rent for a 2-bedroom.

If you live out in the suburbs and commute to UBC (I take it you work near there?) it might be possible.

To give you some context, we are 2 adults and one baby living in downtown Vancouver. My husband works full-time and I work part-time from home, so our combined income is $75K. We still live in a one-bedroom apartment as we have been unable to find any decent priced 2 bedrooms in the downtown/west side area. We would like to have a second child, but until we can find some affordable housing, that won't happen.

Vancouver has the least affordable housing in the world right now:
http://www.vancouversun.com/sports/2010 … story.html
And that is not just for buying, but renting as well. This is combined with rather poor pay rates, so cost of living here is very high. Which is a pity, because this is a wonderful city otherwise.

Hope this helps.

That doesn't sound like a very comfortable living, especially in a place as expensive as Vancouver. That's a very expensive part of Canada, and frankly, in any large city, 50k isn't going to go very far. You're looking at living in a very small apartment, probably no significant outdoor space for the dog (or the hypothetical baby), and eating extremely frugally. Of course, some people manage it, but you ought to start with a budget of what you already spend on rent, food, entertainment, and transportation.

Essentials: (on a monthly basis)
Rent: at least $900
Public Transportation Passes: $220
Food: 500+
Basic utilities: $200+
Pet Stuff: $75

PLUS clothing, entertainment, savings, etc. will add up to over your take-home income pretty quickly.