Here are just a few articles and responses to commonly asked questions from home buyers and sellers.
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Victoria Real Estate FAQ Articles
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Victoria, BC Residential Real Estate Market Report
Discover the latest news and status of the Victoria Real Estate Market. Learn what's changing, what to watch for, and the current statistics. This article is updated regularly.
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Is a half duplex a strata?
A half duplex can be an appealing option in Victoria. It often offers more privacy, outdoor space, and a more house-like feel than a condo or townhouse, while usually remaining more affordable than a detached single-family home. What surprises some buyers is that a half duplex in British Columbia is commonly structured as a strata… Continue reading Is a half duplex a strata?
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Checklist for Victoria Home Buyers
Buying a home in Victoria takes time. You need to narrow down your search by neighbourhood, housing style and budget; all while ensuring you are protected through the offer, negotiation and closing process. Here are a few tips and resources that we hope will help with the process.
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Buying a Rental or Income Property in BC – What You Need to Know
Whether you are planning on buying a Victoria condo or house that can generate rental income, or are thinking about creating a rentable secondary suite in your existing home, there are a few things you should know before you become a landlord in British Columbia.
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What is my Home Worth?
There are a number factors that should be considered when calculating the real estate value of your home in Victoria, Oak Bay, Saanich or Sidney. We discuss the top considerations, including location, type of property, house features, style, renovations, and more.
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Costs of Home Buying and Selling
Understanding real estate fees, taxes and commissions associated with real estate transactions can be confusing. We hope the following information will answer some of your questions.
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Checklist for Selling Your Home in Victoria
Every home owner considering selling should put themselves in the shoes of a potential buyer. The goal is to remove any objections or distractions that a potential buyer may think about when viewing your home. Doing so, often leads to more and higher offers from buyers. Here are our top 10 tips for improving the appeal of your home:
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The Ultimate Moving Checklist
Whether you have just finished buying or selling a home in Victoria, what typically follows is a move. We hope our moving checklist helps streamline the process and reduces some of the stress of your upcoming move.
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Which Home Renovations Bring the Highest ROI?
Whether you are looking to create more space for a growing family, wanting to update a kitchen or bathroom, or build your dream master suite – knowing which renovation or remodel projects will give you the best return on your investment is important if you are going to spend your home improvement budget wisely.
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Should you sell your current home before buying a new one?
When people decide to buy a new home and sell their existing home in Victoria, BC, we are often asked, “Which should I do first – buy a new home before selling my old home or vice versa?” When it comes to real estate what’s the right order for buying or selling property?
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Should I inspect the perimeter drains and sewer line before buying a house?
The perimeter drains and sewer line are part of the plumbing infrastructure of every home and they need regular maintenance. Clogged or collapsed perimeter drains and sewer lines can cause basement flooding, mildew, mold and environmental contamination.
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When should a Home Buyer or Seller be Concerned about Builders Liens?
The Builders Lien Act of BC sometimes comes into play in the purchase and sale of a home in British Columbia. It’s important to understand how builders liens can affect the purchase or sale of a property and what steps you should consider to protect yourself.
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Strata Document Review – Condos and Townhomes in Victoria, BC
You found the perfect home and decide to make an offer with a few of the typical conditions. Your mortgage broker is helping you with financing, the home inspector has been hired, and your real estate agent just sent you what seems like over a 1000 pages of strata documents.
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Buying a Property in Foreclosure in Victoria, BC
Buying a home that is in foreclosure is different than any other purchase. When a property is in foreclosure, at a certain point in the foreclosure process, the lender who is foreclosing takes charge of selling the property; so effectively the lender is the seller.
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When is the Right Time to Downsize your Home?
Is downsizing the right decision for you? Moving to a smaller home can free up time and money so you can enjoy other pursuits whether that’s travel, hobbies, education, spending more time with family and friends, or simply living a more carefree lifestyle.
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What you Need to Know Before Buying a Condo in Greater Victoria
Purchasing a condominium (what is called a “strata” in BC) is a decision made every day by British Columbians of all ages, from young adults who are weighing the pros and cons of owning a condo as opposed to renting an apartment, to empty nesters and seniors who are considering downsizing.
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Understanding the Offer Process When Purchasing a Home in Victoria, BC
As most people don’t buy homes all that often, we are often asked how one makes an offer on a house. As such, we thought it would be useful to review the basic steps involved in the home buying process – from putting together an offer through to taking possession of the property.
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Real Estate Investment, Income and Rental Properties in Victoria, BC
Are rental, income or investment properties in Victoria a good buy? Like any large investment, it’s important that you do your homework and are comfortable with your return on investment or capitalization rate when purchasing an income or rental property. Here are some of the questions that will need to be answered.
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BC Property Assessments – What You Need to Know When Selling a Home
What does the property assessment of a property tell you about the value of a home when you are buying or selling a home in Oak Bay, Victoria, Saanich & Sidney? Find out why you shouldn't rely on it when making decisions.
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How to be Successful in a Multiple Offer Situation in the Victoria Real Estate Market
When the inventory level of homes for sale in Victoria drops, we often see an increase in the number of properties that receive multiple offers from home buyers. Learn what to expect in a multiple offer situation and find tips on how to maximize the possibility of having your offer accepted.
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Selling Estate, Inherited or Subject to Probate Homes or Land in Victoria
When someone passes away, often a family member or close friend is named the Executor and is responsible for settling the Estate. This often includes selling the deceased parent’s or friend’s real estate holdings, whether that is a house, condominium, townhome or land.
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How to Save Money on Utilities at Home
Improve the energy efficiency and health of your house and save money on utilities. We have a list of tips that will work all year round to keep your home in good working order and performing in a clean way.
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Should You Buy a Pre-Sale Condominium in Victoria, BC?
In a pre-sale, buyers commit themselves to purchasing a condominium, which may not be ready for occupancy for two to four years. Learn why buying a pre-sale condominium in Victoria is very different than buying a condominium in an existing building, and see the pros and cons.
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What are the costs of buying real estate in Canada or BC if you don’t live there?
Real Estate Purchases by Americans, Non-Resident or Foreign Buyers in Greater Victoria. Prohibitions, taxes, and exemptions. Learn the ins and outs of purchasing real estate as a non-resident.
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What is a Preemptive or Bully Offer?
A bully offer, also known as a preemptive offer, is an offer that is made by a buyer earlier than the date the sellers have stipulated that they will be reviewing offers. The vast majority of bully offers that are successful are unconditional offers and they are often over the asking price; sometimes substantially over the asking price.
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What is a Bare Land Strata?
A bare land strata corporation generally has no interest in each individual owner’s buildings (e.g. the house and garage). However, the strata corporation will have an interest in common property and facilities such as roadways, above ground service, underground services and any clubhouses or recreational facilities.
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What is a subject to sale offer?
A subject to sale offer contains a condition requiring the buyer's current home to sell prior to making the offer on their next home unconditional. Learn the pros and cons of this strategy.
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What is the HPI – Home Price Index?
Modelled after the Consumer Price Index, the home price index (HPI) gives an indication of price changes for homes in specific areas of Greater Victoria over time.
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What is a Backup Offer in Real Estate?
A backup offer can be a strategic move for home buyers wanting to secure a property with an accepted conditional offer. This approach positions backup property buyers next in line, ready to proceed if the initial offer falls through.