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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.

real estate content rewind 2022 in comox valley

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!

Homes for Sale in Comox

Summer Activities Near Homes for Sale in Comox!

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Are you planning on moving to homes for sale in Comox this summer? If yes, then we have 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. You’ll see why so many people have chosen to move to homes for sale in Comox. Follow along below to discover all of the awesome activities available to you in Comox Valley!

Outdoor Activities Near Homes for Sale in Comox.

Comox Valley is situated in one of the most attractive locations in all of British Columbia. This makes for scenic outdoor adventures and endless summer fun. From ocean views to lush hikes, Comox has it all. Residents of Comox Valley are familiar with the vast number of hiking trails and parks. Each one is popular for its stunning views and well-kept grounds. Some of the hiking trails and parks include Strathcona Provincial Park, Seal Bay Nature Park, Nymph Falls Nature Park, Wildwood Interpretive Forest, Royston Seaside Trail, Comox Marina Park, Miracle Beach and MacDonald Wood Park.

These parks and trails are the perfect places to get outside and do some exercise. For instance,  Strathcona Provincial Park allows visitors to camp, hike, and explore the backcountry. This park offers several kilometres of family-friendly and advanced trails. If hiking and camping aren’t up your alley, grab lunch and have a picnic at one of the aforementioned parks. Oceanside picnicking is sure to provide you with a view you won’t forget. 

Comox also has an extensive number of beaches and outdoor water activities for you and your family to try. Stand-up paddleboarding and kayaking are two popular pastimes in Comox. Try them out at one of the local favourite beaches like Goose Spit Beach, Kye Bay Beach, Miracle Beach Provincial Park, Comox Lake, or Saratoga Beach! Summer in Comox is surely best spent at the beach. Enjoy hours of beachcombing, swimming, kayaking, paddleboarding, and lounging in the sunshine. 

Activities, Markets and Food!

Homes for sale in Comox are close to some of the most incredible daytime activities and food markets. For those who would rather stay in the city, Comox has plenty of recreational opportunities. Residents who want to get a better sense of the town may find it beneficial to go on a tour of their choice. Tours are a great way to get to know the area and meet new people. Comox Valley offers tours of breweries, wineries, distilleries, and culinary hot spots. As well as, local art studios, galleries, and fishing tours. For the more adventurous citizens, there is also the Mount Washington ZipTour, which features ocean and alpine views!

Besides tours, Comox Valley also has nine different golf courses for residents to enjoy. These courses are perfect for all levels of experience. A day of golfing is a fun experience for friends and family. Check out the various golf courses in Comox Valley here. 

Furthermore, there are also tons of markets and craft fairs to peak your inner foodie. Local produce, handmade items, drinks, and baked goods can be found at the year-round Comox Valley Farmers’ Market. Comox offers a number of markets throughout the season in areas like Cumberland and Courtenay. These include the year-round Saturday market pop-up summer markets, fall markets and winter markets. If you are interested in what vendors will be at the market, check out the vendor location map. The map will be active by 5 pm the evening before the market. This way you can see if your favourite vendors will be attending. Moreover, the Comox Valley Farmers’ Market also offers an online store for citizens to support vendors. 

Buy Houses For Sale in Comox!

Houses for sale in Comox are close to so many summer activities! If you want to learn more about the various activities and seasonal opportunities, stay tuned to our blog. Houses for sale in Comox are the perfect place to spend your summer. For those who are interested in learning more about real estate in Comox Valley, 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 real estate experts help you achieve your real estate goals. We look forward to working with you in the near future!

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Average Price of Properties in Comox Valley

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Over the last few months, real estate prices have continued to grow across Canada. The national average price for a home jumped up more than 20% according to the Canadian Real Estate Association. This left the average price of homes in Canada at a whopping $816,720. The massive increase in demand for more spacious homes and recreational opportunities has gone hand-in-hand with high real estate prices. People are searching for properties that will ensure the highest quality of life while working remotely. A shift in priority to put one’s lifestyle before work is certainly present in today’s economy. If you are interested in learning more about the cost of housing and what’s to come for properties in Comox Valley, Continue reading along below!

Is There Hope on the Horizon for Canadian’s in Real Estate?

The vast increases in price have allowed outside investors to get a glimpse of what the Canadian real estate market currently looks like. Despite the pandemic, real estate costs have continued to skyrocket. The cost at which houses are going for continues to shock real estate agents whose main focus is on selling. Competition is an aggressive element in the present market. Buyers are one-upping each other with steep offers in order to secure a home. 

Thus, putting sellers in an incredible position to make a large profit. Furthermore, the aggregate composite home price index was up 3.5% relative to last year during February. Indicating, that this was the strongest monthly gain on record. All of this is according to BMO Capital Markets’ senior economist Robert Kavcic. 

Prices are going up at an innumerable rate and investors are a key component in the increase in demand. Canadians are now buying presale homes in places far from their current home. 

Fear is yet another factor in high home prices. Hostile bidding wars and a lack of homes on the market are driving up the cost of real estate. People are afraid that they won’t be able to find a suitable place to live once they sell their homes. However, now that restrictions are being lifted in B.C, the question of whether or not people will list their homes for sale is posed. 

For the time being, many Canadian residents are left out of options when it comes to finding real estate. The average Canadian doesn’t have an infinite amount of money to spend on real estate. Moreover, the ability to bid on any given number in order to keep up with other interested buyers is a luxury. It is because of the lack of affordability that many Canadians are faced with a dead-end in their real estate goals.

Trends in Canadian Real Estate Reflective of Comox Valley’s Market Condition. 

The Canadian Real Estate Association predicts that the national average home price will settle around $786,000 at the end of 2022. Which is a 14.3 percent increase year-over-year. For reference, the average price of a property in Comox Valley last month was $814,500. CREA’s predictions are lower than the national average for February of 2022. This is because they believe that the high prices we are currently seeing will drop off by the end of the year. This is an important stat to consider, as it foreshadows balance in the future of Canada’s real estate market.

For buyers who have been patiently waiting for things to drop off, things might start to look up in the coming weeks/months. With new interest rate increases from the Bank of Canada, fewer COVID-19 restrictions, and war in Ukraine, bids are slowing down. Signs of cooling are beginning to surface throughout B.C and other provinces.

Although, it does remain unclear whether or not sellers will ramp up again. Or, remain quiet as we head towards the summer months. Overall, CREA believes that national home sales will end up dropping 8 percent from 2021 this year. This is to be followed by an increase of 2.7 percent in 2023.

Buy and Sell Properties in Comox Valley!

Check out this article by the Comox Valley Record for more statistics on this topic! If you want to remain in the loop with the quickly changing Canadian real estate market, stay tuned to our blog. Properties in Comox Valley are highly sought after given the current conditions. For those who are interested in learning more about real estate in Comox Valley, 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 during a time like this. Contact us now and let our team of experts guide you through your real estate goals. We look forward to working with you in the near future!