comox valley Archives - Royal LePage in the Comox Valley

Living on the water is a dream for many island buyers. Waking up to ocean views, feeling the salty breeze, and hearing the sound of the waves, are not things that many are willing to pass up on. The Comox Valley is home to stunning waterfront properties, and for buyers, owning one feels like a life goal finally unlocked. But before you make the switch to waterfront living, it’s important to know it’s not all sunshine and sand between your toes. There are some real challenges that come with coastal Comox realty, and being prepared can save you a lot of stress and money down the line.

Comox Realty on the Water Has its Challenges

Owning of oceanfront property in Comox Valley is undoubtedly worth it. But, if you’ve never lived on the ocean before, you should know that it comes with some unique responsibilities. For starters, the coastal environment can be tough on your home. Saltwater air and the damp, unpredictable weather along the coast can wear down paint, metal fixtures, windows, and even the structure of your house much faster than you’d expect. Routine maintenance is absolutely essential, and it usually means higher costs than a typical inland home.

Then there’s insurance. Most waterfront properties need specialized coverage, especially if you’re near a floodplain or on the frontlines of erosion risk. This type of insurance can be pricier, and sometimes harder to secure. You’ll also want to consider zoning and building regulations, which are often stricter along the coastline to protect the environment and manage safety. These rules can impact what renovations or additions you can actually do on your property.

Moreover, if your potential property is near a public beach or popular trail, that can mean more foot traffic than you’d like. It’s one thing to enjoy the view, but it’s another to have it shared by everyone walking past your backyard. Waterfront homes are often more visible, which can hinder your sense of seclusion.

Watch Out for Mother Nature

erosion control challenge of waterfront home ownership

Waterfront homes are surely beautiful, but Mother Nature can bring some unpleasant weather. For one, certain areas of Comox Valley experience seasonal accessibility issues. Winter storms, heavy rain, or extreme tides can make things at home tricky. This is especially true if your property is tucked away down a gravel lane or surrounded by trees.

Utilities on some waterfront properties may not operate the way you’re used to inland. Some properties rely on septic systems, wells, or propane tanks, and those systems need regular upkeep. If you’re new to rural or semi-rural living, it might take some getting used to. And if something goes wrong, repairs can be expensive and time-sensitive.

Another thing you might not consider right away is the wildlife. Living by the water often means sharing your space with birds, deer, raccoons, and even the occasional curious seal. You might need to fence areas, secure outdoor bins, or just stay on your toes a bit more than usual.

And while the value of waterfront property is often high, so are the price tags and ongoing costs. Waterfront homes in the Comox Valley are in demand, and that demand means you’ll likely pay a premium on the purchase price, taxes, upkeep, and services. Plus, as climate change brings rising sea levels and stronger storms, long-term sustainability and property stability are big considerations. It’s not just about where the shoreline is today, but where it might be in 20 or 30 years.

Thinking About Comox Realty? Let’s Chat!

Waterfront living can be an incredible lifestyle. It’s peaceful, inspiring, and makes you feel like you live on vacation. If you’re seriously thinking about purchasing Comox Realty along the coast, it’s smart to weigh both the pros and the cons. For those who haven’t read last month’s post on the benefits of waterfront living in Comox Valley, we encourage you to do so!

The best decisions come from being informed, and our team wants to ensure that you know the good and the bad of waterfront living before you invest. At Royal LePage Comox, we love helping people discover the possibilities of waterfront living! Whether you’re looking for a vacation home, a full-time residence, or an investment with some appeal, we’ll help you sort through the practical stuff and find a place that really feels like home. Contact us today about Comox realty on the water. We’d be happy to answer any of your questions! Don’t forget to check out our social media for news and updates. We look forward to working with you, soon.

As a retiree, you are faced with several decisions about what to do with your finances, where to live, and what kind of property to own. One of the most common practices amongst retirees is to downsize into a smaller home. This often affords more freedom and flexibility for homeowners looking to soak up their golden years. However, is downsizing always the best option? And, what should you consider before making the choice to downsize? Answering all of these questions is critical as you work towards determining the best course of action for your housing plan. In this article, we will be providing you with insight into why you might consider downsizing and some of the questions you should ask yourself before taking action. Follow along below to learn more!

Questions to Consider Before Downsizing to Homes for Sale in the Comox Valley

One of the first things to consider before downsizing is if your current home fits the lifestyle you want. For retirees who are still living in a single-family home, it is important to ask this question. Having your ideal retirement lifestyle in mind will help you come to this conclusion. Are you interested in traveling…living closer to family…being somewhere walkable or transit-friendly? All of these factors can impact your decision to downsize or remain where you are. Once you get a better idea of how you envision your retirement, you’ll have a clearer sense of what home is right for you.

Another question that you should keep in mind when deciding whether or not to downsize is how much space you need. Downsizing often means selling off some of your belongings to accommodate a smaller living arrangement. If you don’t choose to sell, you will likely have to pay for additional storage space to house your things. For example a storage locker or shipping container. Similar to this, if you frequently have guests stay with you, downsizing could make it harder to entertain family and friends.

Thinking toward your future in your current home, can you imagine the property being suitable when you are 70, 80, or 90? This question is paramount in understanding how to proceed with your housing goals. If you can’t see yourself being able to maintain the yard, go up and down the stairs, or keep up with general housework, downsizing could be the right move. Moreover, can you see yourself being able/wanting to move in the next few years if you realize that you want to live somewhere smaller or more accessible? If you’re not sure about these questions, it’s important to carefully consider what your future self will need.

Why Should You Downsize?

There are numerous reasons why retirees choose to downsize during their retirement. A prime example is to offer more freedom for hobbies and travel. If your plans involve extensive travel or spending minimal time at home, downsizing usually makes the most sense. Not to mention it can help you save money and put more towards the trips you’ve always yearned to go on. Furthermore, you won’t need to worry about the maintenance and upkeep of your home while you’re gone. Especially, if you downsize into a stratified building/community.

Downsizing can also be an effective way to ensure a better quality of life as you age. Owning a smaller space with elevators in the building can help you keep your independence throughout your retirement. It also enables you to live with fewer daily chores, clutter, and stress. When you downsize into a smaller home you’ll get the opportunity to eliminate belongings that took up too much space in your old home and make room for what matters most. This will create a better sense of organization and make it easier to move homes if you decide to relocate again.

Lastly, the most common reason to downsize as a retiree is to do away with the constant maintenance of owning a single-family home. As you grow older, the energy and time you have to spend on home maintenance diminishes. Many seniors often find it challenging to shovel snow and tend to repair tasks as time passes. While it is possible to hire others to do these things, it can cost a lot of money and end up eating through your retirement savings. Moving somewhere where you don’t need to worry about taking care of these tasks can be more cost-effective and less stressful.

Contact us Today!

Now is the time to get a move on your 2024 goals in real estate! If you are curious about buying or selling real estate for sale in Comox Valley, we encourage you to contact us today! Moreover, if you have any questions about downsizing as a retiree, be sure to reach out to us! We are excited to get your retirement dreams on track. A home in the Comox Valley is a great lifetime investment. Be sure to check out our social media here, and return next month for more real estate-related content!

Our Comox Valley real estate team looks forward to working with you!

Posts

Challenges to Consider Before Buying Comox Realty on the Water