If the cost is the same, I would definitely live in residence. About 45 minutes away could easily be longer with traffic, you are literally wasting hours every day.

Rez for sure.

1. It might come out to the same cost. To own a car, you are looking at insurance of at least $1500, a used car that costs, what, $3000? $5000, maintenance because older cars need it!, and gas of course which will really add up at 1.5 hours of driving a day!

2. Even if it seems to cost more, you also have to factor in that it includes your food (which you'd otherwise buy and make at home).

3. If its still cost more and money is an issue, you can use the time savings (of 1.5 hours a day or 7.5 hours a week to get a job on campus which will more than make up the difference.

The advantages of rez are:

1. Getting a total campus experience which will be great for your independence and development as a person.
2. A real sense of community and connection to campus- basically a totally difference experience than if you commuted to a large campus like UBC.
3. Close and lifelong friends- something you can't put money on.
4. Time savings- which you can use for a job (see above), or for more studying, or for more involvement in campus activities.
5. It is far better for the environment-- think of the emissions you would save!

Why not try it for a year and see how it goes (most friends are made in that first year anyways). This way you can see if worth it or not and all you lose is *maybe* a bit of money for rez that first year. If you start as a commuter, you are very unlikely to ever see what the 'other side' was like.

I'm in the exact same situation as you, though I will have to bus next year. What concerns me is my parents though. Thyey wanted me to apply to UBC just so that I DON'T live on res. They're the ones paying, after all.
The "priority" housing deadline is past: are we still allowed to apply for res? It's a total bummer that you have to buy a meal plan for the first year. To me that's an additional cost (I mean, if you're taking the step to live on your own, you should learn to cook as well).