Talon Thompson Nanaimo Realtor

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Winter in Victoria BC is fast approaching. That means two things for people in the Victoria area: lower temperatures and lots of rain. While we certainly don’t get as much rainfall as our fellow Vancouver-based British Columbians, we still receive quite a bit. We also need to brace ourselves for the temperatures to dip and strong winds.

Due to the relatively mild winter temperatures, many people living in the city incorrectly assume that they don’t need to do any prepping. Homeowners in places that get snow like Toronto and Montreal use the time to clean out eavestroughs and making sure their snowblowers are working. Victoria certainly doesn’t have those same weather concerns, but we should all still prep our homes in three critical ways.

Seal Windows

Homes lose a lot of heat through poorly sealed windows. This problem is especially bad in Victoria because electric baseboards are so standard here. Unfortunately, these baseboards are not inexpensive to operate, so in the...

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On November 27, 2018, the Speculation and Vacancy Tax Act received Royal assent and became law within British Columbia [1]. Since this act did not negatively impact 99% of British Columbians, it’s easy to miss its overall impact and what it means for people both buying and selling in the Victoria area. If you are seeking to purchase a property within Victoria and don’t intend to rent it or reside in it, you’re going to want to know about this tax!

When Does This Tax Apply to Me?

The goal of this act is to reduce housing costs within BC. The law targets a few municipalities and regional districts, with the Capital Regional District being one of them (of which the greater Victoria area is a part). It is separate and different from the Vancouver foreign speculator housing tax, which had a lot of media coverage throughout the country. There’s a simple checklist to follow to determine if this tax applies to you.

  1. Are you living in your Victoria home and have made it your...
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Have you considered renting a suite in Victoria, BC to help increase cashflow and the overall value of your home? Victoria is one of the most beautiful placed on earth to rent out a suite and increase your investment at the same time.  With its picturesque landscape, relaxed lifestyle, and low crime rate, Victoria is a fantastic place to call home. However, as the costs of living increase and Victoria real estate prices rise, many people are looking at ways to supplement their income passively. Income suites are a fantastic way to do that. Provided you keep in mind a few details, you can legally rent part of your single-family home. Depending on where you live, this can result in $1,000 or more per month. It’s a win-win for both buyers and sellers. If you are buying in Victoria, BC, the ability to rent part of the house helps pay the mortgage. If you’re selling in Victoria, BC, homes with suites to rent fetch more money. When it comes to rental income suites, here are three...

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MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.