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Safety Tips When Moving into a House in Comox Valley

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Moving into a new home is exciting, especially if you’re a first-time home buyer! However, it can also be stressful and tiresome. As you work towards unpacking your belongings and getting used to your new home, there are a few things you should keep in mind. The most important being safety and security. When you move into a new house in Comox Valley, it is good practice to take some safety precautions. For instance, changing the locks or installing a security camera. In this article, we will be going over some of our best security tips for moving into a new home. Although Comox is relatively crime-free, the following advice will ensure that your new home is safe and secure. Continue reading below to learn more!

How to Keep Your New House in Comox Valley Safe?

  1. Fire Safety

When you move into your new home, it is important that you take the necessary steps to ensure that it is fire safe. When people consider the safety and security of their homes, they often focus on human intruders. However, house fires are much more likely to occur. And the number one cause of house fires is usually unattended cooking. To mitigate the risks of house fires, be sure to check that your smoke detectors are working. Replace any dead batteries and test that all alarms are in order. 

Another fire-safety tip is to make sure that you have a fire extinguisher handy.  A good rule of thumb is to have one extinguisher per floor of your house. And, one of these should live in your kitchen! Fire extinguishers are often forgotten about tools. However, they can make the difference in a small incident vs. a major tragedy. 

  1. Carbon Monoxide Detectors

Another item to check is your carbon monoxide detectors. Carbon monoxide is colourless, tasteless, and odourless, which makes it virtually impossible to detect without an alarm. There are various household appliances that can produce carbon monoxide. For instance, water heaters, furnaces/boilers, fireplaces (gas/woodburning) and gas stoves. Homes that use gas or oil should have a carbon monoxide detector. Be sure to check your carbon monoxide detectors regularly. 

  1. Dryer Vent

Dryer vents can be unsuspectingly dangerous. Especially, when they’re clogged! When you move into a new home, it is important to check that your dryer vents are clean. A clogged dryer vent is a common cause of house fires. Cleaning your dryer vents regularly will mitigate fire risks and help your dryer run more efficiently!

More Tips!

  1. Evacuation Plan

If you have school-aged children, then you’ve probably been asked what the household evacuation plan is. Most children are taught early on in their education that every home should have an evacuation plan in case of an emergency. However, even those without children should think about this. Having a solid evacuation plan can prevent confusion and chaos in the event that something goes awry. Your evacuation plan should include exit strategies from every room in your home and a meeting place. Be sure to choose a meeting place that is off of, or near the edge of, your property.

  1. Door Locks

After moving into a new home, the last thing that’s probably going to be on your mind is changing the locks. However, taking the time to install new locks is a key step in your home’s safety. You should have your locks replaced or rekeyed upon moving in. Unless you are certain that your home’s locks are brand new, you never know who might have a key to your new home. At the end of the day, it’s better to be safe than sorry and take the time to replace your locks. 

  1. Security System

If your new house in Comox Valley doesn’t have a security system, then you might want to consider adding one. Houses with security systems are much less likely to be broken into or vandalized. Furthermore, it can add value to your home if you decide to sell it later on. Make sure you buy your security system from a reputable company. And, if you want to save some money, consider installing the cameras yourself.  

Contact us About a House in Comox Valley

If you are curious about what safety items to complete when moving into a house in Comox Valley, we encourage you to contact us today! If you have any questions about houses in the area, be sure to reach out to us! We are excited to get your spring real estate goals on track. A house in Comox Valley is a great lifetime investment. Don’t hesitate to contact us with any concerns or inquiries about real estate in Comox Valley. Be sure to check out our social media here, and return next month for more real estate-related content! We look forward to working with you in the near future.

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When is the Right Time to Buy a Home in Comox Valley?

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2022 was a rocky year for homeowners and real estate professionals alike. And, if you’re wondering how 2023 is going to pan out, you’ve come to the right place. The real estate market on Vancouver Island is generally known to be quite stable. However, in the last two years, it has seen some ups and downs—much like other typically stable markets in Canada. Since the beginning of 2022, citizens of Canada have been hopeful that with time, the prices of real estate would come down. And, in many places, housing prices have come down—with a catch of course. In this article, we will be taking a closer look at housing trends in Comox Valley, and more generally, Vancouver Island.

Follow along below to learn more about whether or not you should buy a home in Comox Valley!

What to Expect When Buying a Home in Comox Valley in 2023?

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If your goals for 2023 involve buying a home in Comox Valley, there are a few things you need to know. Firstly, home prices have undoubtedly gone down in 2023 and are rumoured to continue to drop off. This is not to say that prices have dropped dramatically. Instead, they have simply cooled from their peak.  For homebuyers, this is good news. It means that the market is stabilizing. Another thing that buyers and sellers need to be wary of, is the cooling-off period that was announced last July. On January 3, 2023, this new rule was formally implemented in British Columbia.

According to CTV News, this new legislation is intended to provide “buyers some protection in the face of rising interest rates and what [the government] calls high-pressure sales tactics.” It is important to note that the cooling-off period does not apply when homes are auctioned or when the home is on leased land. The cooling-off period allows buyers three business days to think about their purchase. Furthermore, it allows buyers to back out of the deal for a number of reasons including: 

  1. They no longer want to purchase the home
  2. The pruchaser cannot secure financing
  3. They cannot arrange a home inspection

However, despite this new recession period, backing out of the deal is not free. If a buyer back out of a deal, they will have to pay 0.25 percent of the offer. On a one million dollar offer, that equates to a $2,500 fine. The reason for a fine is to prevent buyers from having an unfair advantage. 

Interest Rates, How to Navigate the Market, and More.

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The other thing that buyers need to be wary of, is interest rates. If you’ve paid attention to the news at all in the last few months, you’d know that the Bank of Canada has been increasing the key interest rate bit by bit. This has resulted in the average cost of a mortgage skyrocketing. For those with variable-rate mortgages, the pressure has been immense. And, in the case of first-time home buyers, many have been forced to hold off on their dreams of homeownership. Most analysts have predicted that 2023 will be a rough year in terms of mortgages. However, with that, they also predict that rates will come down again by early 2024. 

So how do you buy a home given the conditions? And, is it risky to sell your current home? The answer is not one-size fits all. Depending on you and your specific situation, the current conditions might not impact you in a way that prevents you from buying or selling. However, for others buying a home could be pushing the bounds a little too far. If you are unsure, we encourage you to consult with one of our Comox REALTORS® to find an option that best fits your unique position. Buying a home in Comox Valley is a big milestone, and it is important to take the time to assess the situation before rushing into anything! 

Contact us About Buying or Selling a Home in Comox Valley. 

If you are curious about buying or selling a home in Comox Valley, we encourage you to contact us today! If you have any questions about the market conditions in Comox, be sure to reach out to us! We are excited to get your spring real estate goals on track. A home in Comox Valley is a great lifetime investment. Don’t hesitate to contact us with any concerns or inquiries about real estate in Comox Valley. Be sure to check out our social media here, and return next month for more real estate-related content! We look forward to working with you in the near future.

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Why Invest in a House for Sale in Comox?

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Buying a house for sale in Comox can provide you with a new sense of pride, freedom, and stability. There are numerous reasons why so many Canadians choose to buy a home for their long-term goals instead of renting. However, if you’re still unsure of whether buying a home is the right option for you, we’re here to help. After all, the more you know about buying a home, the better. Below we have listed a few of our top reasons to invest in a house for sale in Comox. Continue reading to learn more!

Reasons to Buy a House for Sale in Comox.

  1. Homes Appreciate

One of the biggest reasons to invest in a house is the fact that real estate appreciates. Although the price of real estate tends to fluctuate, at the end of the day, real estate generally goes up in value. However, the amount your home appreciates depends on how long you live in it and what the market conditions are like when you decide to sell. Although, any profit you make off of selling your home is greater than what you will make as a renter. With that being said, buying a home doesn’t make sense for everyone. So, be sure to think about the details of buying a house before purchasing. 

  1. You’ll Love Owning a Home

Besides having an asset that appreciates in value, owning a home provides freedom like no other. Want to paint the walls neon pink? Or, remodel the kitchen? Perhaps add a patio? You don’t have to ask when you own a home. Furthermore, you can host large gatherings without fear of being evicted. Your home is exactly that – yours. So, enjoy all of the perks that come with living freely on your property. Just be sure to stay neighbourly if you live in the suburbs. 

  1. Enjoy Stability 

There are so many variables in life. But, your house doesn’t need to be one of those. Instead, through homeownership, you can minimize the risks that come with housing. For instance, as a homeowner, you won’t need to worry about landlord changes, lease terminations, rent spikes, and strata fees. Owning a home provides better control over your monthly housing costs. This is because you can opt for a fixed-rate mortgage and save on monthly utility bills with energy-saving tactics. Take away some of your stress and enjoy the stability of owning your own home. 

More Reasons to Buy!

  1. Enhanced Privacy

Owning a house for sale in Comox means increased privacy. You can bid farewell to shared spaces, running into people in the parking garage, walls too thin, sketchy tenants, and awkward elevator conversations. Whatever you hated about living in proximity to others, can be fixed by owning your own property. When you own your own home, you can take privacy to the next level by adding fences, clever landscaping, and a nifty home security system. Let your worries melt away with a home that’s yours. 

  1. Achieve Mortgage Free Living

Another reason that people choose to buy a home, is to eventually achieve mortgage-free living. This is a great plan if you are thinking about retiring from your home. Owning your property outright means even fewer housing expenses, which is ideal if you are planning to retire in your home. Once your income starts to fix, the amount you spend becomes critical in how you are able to live your life. Furthermore, even if you don’t stay in your home for retirement, you can always sell it and make a profit to help fund your retirement!

  1. Tax Breaks

There are a number of tax benefits that come with owning a property. Here are some of the top tax breaks that homeowners can take advantage of:

  1. Energy Incentives
  2. Principal residence exemption 

These are just some of the most popular tax benefits that come from owning a home. If you are looking for another reason to buy a home, let it be a tax break!

Contact Us Today!

If you are curious about buying a home, we encourage you to contact us today! If you have any questions about your first house for sale in Comox, be sure to reach out to us! We are excited to get your new year’s real estate goals on track. A home in Comox Valley is a great lifetime investment. Don’t hesitate to contact us with any concerns or inquiries about real estate in Comox Valley. Be sure to check out our Facebook page, and return next month for more real estate-related content! We look forward to working with you in the near future.

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2022 Recap of Real Estate Advice in Comox!

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It’s that time of year again when we write our year-end blog recap. December is quickly passing by and 2023 is right around the corner! Over the course of 2022, we wrote several articles about real estate in the Comox area. From January to November we have posted eleven different articles to help our buyers and sellers find the information they need. Achieving your real estate goals can be tricky. However, we hope that some of our content helped to steer you in the right direction. In this article, we will be going over a brief recap of all of the articles we wrote during 2022. Follow along below to learn more!

Winter and Spring Blog Recap of Real estate advice in Comox:

Jan – Transit & Comox Valley Houses For Sale

Getting to and from your everyday destinations is an important part of your daily life. While many people opt for a car, living in Comox Valley houses for sale provides a host of other transit options. The city is equipped with buses, bike paths, boat access, float planes, ferries, and more. This article is filled with information about transit in Comox Valley

Feb – January Update on Comox Properties For Sale

Understanding the current market statistics is an important part of buying a home. This article goes over the real estate stats from January of 2022. Check it out for a trip back in time to see how real estate prices were doing at the beginning of the year. 

Mar – Average Price of Properties in Comox Valley

In March, we wrote all about the soaring real estate prices and the jump in interest rates. Our March article talked about buyer motivations, and the cost of housing in Comox, and provided an update on the national real estate market. 

Apr – Summer Activities Near Homes for Sale in Comox!

Are you planning on moving to homes for sale in Comox this summer? If yes, then we recommend reading this article. Discover a list of fun summer activities to familiarize you with the town. By participating in some Comox summer fun, you can get to the locals! Make friends and find new favourite hangout spots by exploring Comox Valley.

Summer Blog Recap:

May – Comox Real Estate: Economic Drivers in Comox Valley!

If you are looking to move to Comox real estate, it is important to consider the economic drivers within the city. Comox has various economic drivers that can help you create and foster a business. Or, find a job within your interests. The city of Comox and surrounding areas have diverse economies that thrive in industries like tourism, agriculture and construction.

June – About Cumberland BC Real Estate.

Living in Cumberland BC real estate is a quiet place to settle down. Sea-to-sky views and lush green trees are the perfect backdrop to any home. Cumberland has a fascinating history as a former coal-mining town. If you’re looking for a great place to call home, Cumberland BC real estate is the place to move.

July – Making Your Property in Comox Valley Energy Efficient!

Energy efficiency in your home can help you save thousands of dollars. For most individuals, the costs associated with living in their house account for a large portion of their income. Going green shouldn’t require months and months of saving. In fact, it’s possible to save the planet on a budget! Most of the changes we wrote about will even help you save money over time. 

Aug – New Measures in Place for Buying a Comox Valley Property.

After a rocky start to the housing market in Canada, many government officials worked to reduce high-pressure sales. There were several efforts made in British Columbia over the early months of 2022 to combat the scorching real estate market. Check them out in this article. 

Fall Blog Recap of Real estate advice in Comox:

Sept – Home Improvements to Add Value To Comox Valley Properties.

Home renovations are a great way to add value to Comox Valley properties. Or, make the space more inviting. However, not all home renovations are worth your time and money. It is important that you choose the right home renovation projects so that you can get a sufficient return on your investment. 

Oct – Home Security for Properties for Sale in Comox!

While Comox Valley’s crime rate is virtually zero, having a thorough security system is never a bad idea. Those buying properties for sale in Comox should consider investing in some basic home safety equipment. Contrary to popular belief, it doesn’t cost an arm and a leg to keep your home safe. Read more about this in our October blog post!

Nov – Selling a Stigmatized Property For Sale in Comox 

Selling a stigmatized property for sale in Comox can be a tricky feat. It is important that you consider any stigmas associated with your home and how they can affect the listing price of your property. In this article, we went over all things to do with buying and selling stigmatized properties. 

At Royal Le Page Comox we want to thank our clients for another great year in real estate! 2022 came with lots of surprises and we were happy to have all of you stick with us. Check back next year for more real estate content and information. As always, be sure to contact us with any questions or concerns you may have. We look forward to working with you in the new year. Happy holidays to everyone!

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Selling a Stigmatized Property For Sale in Comox

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Selling a stigmatized property for sale in Comox can be a tricky feat. It is important that you consider any stigmas associated with your home and how they can affect the listing price of your property. This will help better prepare you for selling your home. Even though the events that have happened in your home do not affect the physical value, they can affect the market price.

In this article, we will be going over all things to do with buying and selling stigmatized properties. Follow along below to learn more about this topic!

What Defines a Stigmatized Property for Sale in Comox?

A stigmatized property is defined as a home with previous negative events either within or near the property. Real estate stigmas have nothing to do with the physical function or appearance of your property. Instead, a stigmatized property usually has to do with a negative psychological effect on prospective buyers. For instance, if someone had died in the home of natural or criminal causes. Others might be deterred if the home was a famous filming location for a movie or TV show. In some cases, people may not want to buy a home because it is in the same area as a home with one of these stigmas. Understanding the various stigmas surrounding real estate is an important part of buying and selling homes. 

How to Sell a Stigmatized Property?

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Selling a home with known stigmas can be a hard task. However, stigmas are often subjective to a buyer’s values, beliefs, culture, age, and gender. For example, some individuals may find a haunted house exciting, while others may find it terrifying. Either way, stigmas are certain to affect the home’s market value. So, it is important that you understand how to sell stigmatized property. In British Columbia, there is no law that states that you need to declare a stigmatized property. This means that you can avoid telling buyers about any stigmas your home may have. 

However, if your home already has a known stigma things can be a bit trickier. By working with a real estate agent you will be more likely to receive better offers. This is because when dealing with a stigmatized property it is important that you have excellent marketing and great exposure. Otherwise, a home with known stigmas can go stale on the market. Furthermore, a real estate agent will be better able to answer buyer questions about stigmatized properties. 

Buying a Stigmatized Property for Sale in Comox.

As a buyer, stigmatized properties can be an easy way to get a great deal on real estate. That is if you are not affected by the psychological implications. Homes that have stigmas often sell for a much lower price than those without stigmas. And, many sellers will be willing to negotiate the price. For developers, the stigmatized property can be the solution to getting cheap land. Although, there are some downsides to taking this route. 

If you choose to buy a stigmatized property it is crucial that you keep in mind the drawbacks of owning a property like this. Depending on your plans with real estate, you may deal with different drawbacks. For example, even if you tear down the old building, people may still be afraid to go near the property because of its psychological impact. Or, if it was a famous location, fans could still try and visit it after re-developing. Also, when it comes time to sell down the road, buyers may be reluctant to make offers because of the previous history. 

At the end of the day, a stigmatized property will generally be cheaper to buy, but harder to sell. If you make the decision to purchase real estate with a stigma, keep in mind that they generally spend longer on the market and get lower offers. However, there are some cases where property stigmas make the market value increase. It all depends on the stigma, your location, and your target demographic. 

Contact Us About a Property for Sale in Comox. 

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Whether you are buying or selling a stigmatized property, hiring a real estate agent to help you through the process is essential. If you have any questions about a property for sale in Comox, be sure to reach out to us! We are excited to get your fall real estate goals on track. A property in Comox Valley is a great lifetime investment. Don’t hesitate to contact us with any concerns or inquiries about real estate in Comox Valley. Be sure to check out our social media here, and return next month for more real estate-related content! We look forward to working with you in the near future.

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Home Security for Properties for Sale in Comox!

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While Comox Valley’s crime rate is virtually zero, having a thorough security system is never a bad idea. Those buying properties for sale in Comox should consider investing in some basic home safety equipment. Contrary to popular belief, it doesn’t cost an arm and a leg to keep your home safe. In fact, it can be quite inexpensive. For the average homeowner, good home security can be as easy as changing some locks and purchasing a camera. In this article, we will be going over the simplest and most cost-effective ways that you can ensure the safety of your home. Follow along below to learn more about this topic!

Secure the Locks of Entryways and Exit Points Within Your Home.

Good home security doesn’t need to break the bank. Sure, it might be nice to have the high-tech gadgets advertised at your local hardware store. But, it’s not really necessary. Especially, when you’re living in a place as safe as Comox Valley! However, for homeowners who want a little bit more peace of mind, sometimes all it takes is new locks and a quality front door. When you purchase properties for sale in Comox, it is important to have the locks changed once the home is in your possession. This ensures that the previous homeowner does not have access to your home. Before you meet with a locksmith about changing the locks, have the following information in mind:

  1. Number of locks that need to be changed/entry points
  2. Level of security needed
  3. Current lock type (ie: deadbolt, tubular, etc)
  4. Ideal budget

This information will make the process of changing locks much quicker and easier. Other reasons you may want to consider changing the locks of your home include if: 

  • The home has had multiple different owners over the years
  • Your home is being rented/was rented
  • There has been a previous break-in at the home
  • You are going through a divorce with extreme conflict

Properties for Sale in Comox Need Sufficient Windows and Doors 

Updating your locks is a crucial step in improving home security. However, you also need to make sure that you have strong doors and windows. Especially, on the ground level of your house. Old windows and feeble doors are vulnerable to crime. It is important that you invest in some good quality doors and windows to keep unwanted visitors out. Front doors, back doors, garage doors, and ground-floor windows all need to be in good working order. A lock cannot do its job if the door is weak. Pay close attention to the frame of your doors and windows to make sure your lock isn’t compromised by defective framing. 

Side Note: The investment in secure windows and doors can also help reduce heating and cooling costs. This is because newer windows and doors are more energy efficient and do a better job of insulating your home! Sounds like a win-win situation 😉

Depending on what kind of lock you invest in, reinforcing hinges can help bolster home security. Furthermore, hiding screw heads and hinge pins will maximize the security of your property. In addition, linking cameras to smart home devices like Google Home, Amazon Alexa, or Ring, can provide an extra layer of protection.

Security Cameras, Lights and More!

Lots of homeowners are opting for digital security methods to protect their homes. This is because of their accessibility and assurance. Installing one or two cameras in key areas outside of your home is a great way to monitor the activity around your home. Most brands offer real-time access to your camera from anywhere in the world. This is great for homeowners who spend a lot of time out of town. Furthermore, the presence of a camera is usually enough to deter crime. 

Cameras and updated locks are only a few of the ways you can secure your property. One of the most budget-friendly ways to improve home security is investing in lights. Adding some outdoor lights will keep away anyone lurking in the shadows. Moreover, a well-lit house will prevent accidents related to low visibility. Motion sensor lights, solar lights, string lights, and porch lights are all ways that you can brighten up your home when the sun goes down. 

In addition, ensuring that your car is locked and there are no keys or valuables left inside can prevent unwanted theft. Leaving items like garage door openers in your vehicle heighten your chances of a break-in. Implementing practices like these can help you to avoid unwanted entry into your home. 

Contact Us About Properties for Sale in Comox Today!

Even in a place like Comox where crime is minimal, it is diligent to have a good home security system. If you have any questions about home security for properties for sale in Comox, be sure to reach out to us! We are excited to get your fall real estate goals on track. A property in Comox Valley is a great lifetime investment. Don’t hesitate to contact us with any concerns or inquiries about real estate in Comox Valley. Be sure to check out our social media here, and return next month for more real estate-related content! We look forward to working with you in the near future.

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Home Improvements to Add Value To Comox Valley Properties

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Home renovations are a great way to add value to Comox Valley properties. Or, make the space more inviting. However, not all home renovations are worth your time and money. It is important that you choose the right home renovation projects so that you can get a sufficient return on your investment. Because of such high-interest rates, it is expensive to afford home renovations. Materials and lending rates are through the roof. Thus, forcing homeowners to pick and choose their renovation projects. In this article, we will be going over the top renovations that you should make to your home before the year is over. Follow along below to learn more!

Add Space to Comox Valley Properties.

Since the onslaught of the pandemic, buyers are looking for space now more than ever. This means homeowners need to make their properties feel as spacious as possible. Adding outdoor spaces, workspaces, and recreation spaces to your home is a sure way to add value. Any kind of remodel that increases your square footage or gives the illusion of more space, will be a worthwhile investment. 

One of the ways you can achieve this is by creating a home office. If your property doesn’t have a workspace, it is a good idea to add one. Whether you build a detached building on your property or convert a room is up to you. However, there are a lot of folks looking for a home with adequate office space. An in-home office is a great addition that is certain to add value to your property. According to HomeLight, a home office can add over $10,000 in resale value. In fact, if you decide to add a detached office space it can provide about $66,000 in value to your home. 

Another way to add value by making space in your home is to finish your basement. If you have an unfinished basement, you’re practically throwing away valuable space. Take charge and make it your winter project. A finished basement can add $50,000 in value to the asking price of your home. You can leave this space blank or turn it into a gym, office, or lounge area.  

Next, is opening up the floorplan. If your home is dated and feels cramped because of the walls, consider knocking some of them down. Free-flowing space in the kitchen and living areas is essential to buyers. Open layouts are the key to good workflow.

What About the Outside?

Curb appeal and outdoor spaces are another big draw for buyers. A lackluster exterior will make buyers question how you’ve taken care of the interior. Don’t make this mistake! An attractive landscape will entice buyers from the moment they see the property. And, it will give them the idea that your home is well-taken care of. Performing simple tasks such as weeding, cutting the grass, and replanting dead plants, can make all of the difference. 

If you want to take your home’s outdoor areas to the next level, consider hiring a professional. Investing in a rock wall or raised garden beds can help enhance the look and feel of your home. Moreover, adding or re-building a patio in your backyard will provide buyers with more usable outdoor space. This is great for those who want to entertain guests or enjoy the Comox Valley weather. 

Another way that you can add curb appeal to Comox Valley properties, is to get new doors and windows. A bright and bold front door can make a big difference in the overall look of your home. And, it can help improve the home’s energy efficiency. The same thing holds true for windows. Brand new windows on your home not only look great but also help to insulate the home. 

While we are on the topic of doors and windows, consider replacing your garage door. These large features have a big impact on the look of your property. If your neighbours have newly renovated garage doors, consider jumping on the bandwagon. HomeLight has found that a new garage door will give you a 133% ROI. Upgrading your garage door is a simple way to make Comox Valley properties stand out!

Contact Us About Comox Valley Properties!

Improving the look of your Comox Valley properties will help you add value to the asking price o your home! By choosing your renovations wisely, you can stand to make a great ROI! If you have any questions about renovating a property in Comox Valley, be sure to reach out to us! We are excited to get your fall real estate goals on track. A property in Comox Valley is a great life-long investment. Don’t hesitate to contact us with any concerns or inquiries about real estate in Comox Valley. Be sure to check back next month for more real estate related content! We look forward to working with you in the near future.

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New Measures in Place for Buying a Comox Valley Property

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After a rocky start to the housing market in Canada, many government officials have been working to reduce high-pressure sales. There have been several efforts made in British Columbia over the past few months to combat the scorching real estate market. However, despite their efforts, B.C’s finance minister has declared that there will be another measure put into place that will affect the property market in B.C. In May, there were several recommendations made in an effort to slow the intense competition in the market. Now, one of these measures will be put into effect this coming year. Follow along below to learn more about buying a Comox Valley property with these new measures. 

3-Day Cooling Off Period to be Introduced When Buying a Comox Valley Property.

British Columbia will be implementing a new homebuyer protection period that will go into effect on January 1, 2023. This period has been implemented in order to prevent homebuyers from skipping key aspects of the home buying process. Moreover, this 3-day period will be the first ever introduced in Canada. Government officials are hopeful that the 3-day period will allow buyers the opportunity to have a home inspection, secure financing or take any other steps needed. 

It is evident that many homebuyers have been forced to skip these important steps in order to try and secure a home. Because of how the market has been, the government of British Columbia has decided to take BCFSA’s suggestion to implement a 3-day homebuyer protection period. The plan will help buyers in today’s market and in the future. 

The homebuyer protection plan includes a number of clauses. For example, buyers can still make offers on a home that is conditional on home inspections or financing. Furthermore, there will be a fee for buyers who back out of a deal. The fee will cost $250 for every $100,000. So, a $300,000 property would have a recission fee of $750. 

By giving buyers the opportunity to do their due diligence, officials are optimistic that it will reduce the risk of purchasing the wrong property. This way homebuyers can have an inspection done and avoid purchasing a home that has costly problems. Overall, the protection period is being put into place to ensure that buyers have enough time to make a sound decision on such a life-changing purchase. 

Speculation Tax Expanding to Vancouver Island?

In addition to the announcement of the cooling-off period, there has also been news about B.C expanding its speculation tax to some areas on Vancouver Island. The speculation tax was first introduced in British Columbia in 2018. However, the tax only applied to select municipalities. Come January, the government decided to add six more municipalities that will be subject to this tax.

Speculation and vacancy tax has been designed to help British Columbia turn empty homes into housing for residents. It also ensures that non-Canadians contribute to Canada’s tax system. Specifically those with a foreign income. That being said, most B.C residents are exempt from this tax if their home is their primary residence.  

At the moment, anyone with a vacant residence is required to pay 0.5% of their assessed property value. This increases to 2% for foreigners. The municipalities currently affected by the tax are Kelowna, West Kelowna, Nanaimo, the District of Lantzville, most areas in the Lower Mainland, and Southern Vancouver. 

Once the new year arrives, the provincial government will expand the speculation tax bounds to Lions Bay, Squamish, North Cowichan, Duncan, Ladysmith, and Lake Cowichan. This means that newly affected homeowners will need to declare and claim an exemption for January of 2024. This decision was made in an effort to relax housing markets where pressure was high. 

The B.C finance minister declared that the tax has worked well to help people find places to live. Moreover, the tax aided in lowering the price of the properties. Between 2018 and 2020, there were 18,000 new condo units available for rent because of the speculation and vacancy tax. 

Contact Us Today if you have questions about the new housing rules in Comox!

For more information on these newly added policies on housing in British Columbia, contact us today. We’d be happy to help you find a Comox Valley property that is within your budget. For those who are interested in learning more about real estate in Comox, reach out to us today. We’d be more than happy to help answer any questions that you may have about buying or selling real estate in this area. Let our team of experts help you achieve your real estate goals. We look forward to working with you in the near future!

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Making Your Property in Comox Valley Energy Efficient!

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Energy efficiency in your home can help you save thousands of dollars. For most individuals, the costs associated with living in their house account for a large portion of their income. Houses need plenty of maintenance and care in order to remain functional. Making sure that everything is operating accordingly can be a big job. Moreover, if you want to ensure that your home is environmentally friendly, you’ll have to go one step further. Despite the cost of some eco-friendly properties in Comox Valley, there are some inexpensive ways that you can improve the impact your home has on the environment. Going green shouldn’t require months and months of saving. In fact, it’s possible to save the planet on a budget! Most of these changes will even help you save money over time. This is because you will be conserving energy and cutting back on waste! Follow along below to learn about the most inexpensive ways to make your property in Comox Valley eco-friendly.

Have an Energy Audit Done on Your Home. 

Having someone perform an energy audit on your home can help you identify issues that will later save you tons of money. While the initial cost may seem high, having this procedure done is certainly worth the extra cash. An energy audit is a great way to determine what areas of your home need to be more energy-efficient. The procedure is done by an expert, who will test your home for many things. For example, how airtight your home is and use a thermographic scan to find out where you are losing heat. Once you have the results, you can come up with a solution to fix the problem areas. On average, a home energy audit costs between $300 and $500 depending on the size of your home. This may seem like a large amount to pay, but the long-term savings are well worth it. However, if this is still too pricey, there are some DIY solutions that you can try. 

Make Sure That Your Property in Comox Valley is Insulated. 

Insulation is the leading cause of energy efficiency problems in a household. And, most insulation-related issues can be remedied without the help of a professional. While it may not be the most thrilling way to spend your day, fixing your insulation can have many benefits. For instance, higher resale value and lower monthly heating and cooling costs! Commonly, homeowners will neglect to insulate their attic. This is a costly error. Insulating your attic can improve monthly spending on energy bills from 10-50%. 

Furthermore, those looking to improve insulation can add glaze around old windows. People who are living in older houses should think about fixing any cracked glazing around window panes. Taking the time to fix this can drastically reduce the amount of money you spend on your heating and cooling bills. 

Additionally, you can benefit from using spray foam around exterior windows and doors in your home. Houses with wood siding can develop gaps around the trim of windows and doors which have a negative impact on your home’s insulation. These gaps can be easily filled with spray foam or caulk. The same thing applies to the interior window and door trim. However, these gaps will usually be small enough to fill with caulk. When filling gaps in the interior of your home, be sure to buy caulk that can be painted over!

Save Water With Faucet Aerators!

Faucet aerators are a great tool to help with water consumption. Most modern faucets already have faucet aerators. However, if you see that your faucets don’t have these little gadgets, you may want to consider purchasing some. Aerators make a big difference in the way that your tap operates. For example, they maintain and improve water pressure, minimize the amount of water consumed, shape the stream of the water, prevent splashing, and catch debris. In addition, by adding aerators to your taps you can reduce the amount of water you use by up to 50%. Faucet aerators can be found at any hardware store or online for roughly $4-$8 each. This inexpensive addition will significantly lower your ecological footprint.

Contact Us About a Property in Comox Valley!

Improving the energy efficiency of your property in Comox will help you save money each month! Taking a more eco-friendly route is the perfect way to reduce annual spending and help the environment. If you have any questions about a property in Comox Valley, be sure to reach out to us! We are excited to get your summer real estate goals on track. A property in Comox Valley is an excellent seasonal investment. Don’t hesitate to contact us with any concerns or inquiries about real estate in Comox Valley. Be sure to check back next month for more real estate-related content! We look forward to working with you in the near future.

cumberland bc real estate near strathcona provincial park

About Cumberland BC Real Estate.

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Living in Cumberland BC real estate is a quiet place to settle down. Sea-to-sky views and lush green trees are the perfect backdrops to any home. Cumberland has a fascinating history as a former coal-mining town. If you’re looking for a great place to call home, Cumberland BC real estate is the place to move. From large outdoor markets and easy transportation to a one-of-a-kind outdoor playground, a home in Cumberland leaves everyone feeling satisfied. Enjoy the peaceful streets and calm city in this breathtaking town on Vancouver Island. Follow along below to learn more about living in Cumberland.

Location and Amenities

Cumberland is located near the east coast of central Vancouver Island. This incredible village within Comox Valley is close to a variety of outdoor activities. Furthermore, it is a short distance from surrounding areas like Nanaimo and Courtenay. It is also a 2-hour and 40-minute drive to Victoria. 

Cumberland’s incredible location on Vancouver Island makes for a ton of epic amenities that residents can enjoy. For instance, Mt. Washington Ski Resort is only a 30-minute drive from Cumberland! Here, visitors can explore 1700 acres of terrain overlooking Vancouver Island and the surrounding ocean. There are 5 chairlifts and plenty of seasonal activities to be enjoyed. During the summer months, Mt. Washington offers excellent hiking and mountain biking trails.

There is also the famed Strathcona Provincial Park. This park is considered to be one of the biggest attractions for visitors. Over 250,000 hectares of parkland make up Strathcona Provincial Park. The terrain ranges from snowy peaks and rugged trails, to calm lakes and fast-flowing rivers. Hiking at Strathcona is unmatched by any other park in the area. Those who check out Strathcona Provincial Park can hike, cross-country ski, and camp.

If you love being outdoors, then Cumberland is the place for you. There are thousands of trails for you to hike, mountain bike, and ski. You can also hop in the water and paddle along the scenic coast of Vancouver Island or Comox Lake. So much is able to be explored when you live in Cumberland BC real estate. 

Cumberland BC Real Estate is Historic

A long while ago in 1888, Cumberland was founded by a coal baron by the name of Robert Dunsmuir. Originally, the settlement was named after the Union Coal Company and took on the name Union. However, in 1898 the name was changed to Cumberland after the town miners’ homeland in the famous English coal-mining area of Cumberland in England. Cumberland was an active coal mining town until 1966. The town became an integral location for local trade and business dealings. Eventually, the coal industry fizzled out and Cumberland became a calm village. Now residents can visit local museums and Coal Creek Historic Park for a hands-on look at life during the coal mining era. 

Real Estate Opportunities

Cumberland BC real estate has plenty of opportunities for new residents. The predominant housing types in this area are single-family detached homes and townhomes. Most real estate in Cumberland is on the older side, as a third of it was built before the 1960s. However, there have been some houses built between the 1960s and the 1990s. The bulk of the homes in Cumberland has two to three bedrooms. In addition, there are several rental properties in the area. 

The average household income is roughly $53,748. People living in Cumberland are mostly between the ages of 20-64. The majority of the residents in the area have their high school diplomas or college certificate. Cumberland is also home to a few elementary schools and middle schools. However, there are no high schools in Cumberland. Additionally, most residents can walk to and from essential services like grocery stores and pharmacies. 

Transportation Options with Cumberland BC Real Estate 

Getting to and from your everyday destinations is an important part of your daily life. While many people choose to drive, living in Cumberland BC real estate provides a host of other transit options. The city is equipped with buses, bike paths, boat access, float planes, ferries, and more. All to ensure that you arrive at your destination no matter where that may be. You can get from Vancouver Island to the mainland in a number of ways. Cumberland is supported by the BC Transit system which means buses are easily accessible. Even if you choose to go by car, the quiet street makes commuting easy. You won’t ever have to worry about finding a parking spot again! Make the move to Cumberland BC real estate for quick and easy transportation. 

Contact Us About Cumberland BC Real Estate Today!

If you want to learn more about the neighbourhoods in Comox Valley, stay tuned to our blog. Cumberland BC real estate is the perfect place to call home. For those who are interested in learning more about real estate in Cumberland, reach out to us today. We’d be more than happy to help answer any questions that you may have about buying or selling real estate in this area. Contact us now and let our team of experts help you achieve your real estate goals. We look forward to working with you in the near future!