For many homeowners, upsizing in Victoria BC is not really about buying “more house.” It is about buying a better fit for the life you are living now. Maybe the family has grown. Maybe you need a better layout, more privacy, a yard, a home office, or a suite option for long-term flexibility. The best strategy for upsizing in Victoria BC is usually not to rush into the next purchase first. It is to build a plan that protects your equity, keeps your financing realistic, and gives you enough flexibility to move when the right home appears. In today’s Greater Victoria market, where inventory has improved and benchmark pricing has been relatively stable, disciplined sequencing matters more than guesswork. The Victoria Real Estate Board reported the Victoria Core single-family benchmark at $1,307,400 in February 2026, up from $1,265,500 in January 2026 and only 0.9 percent below February 2025, which points to a market with movement but not extreme volatility. Start With the Real Constraint, Not the Dream Home Most homeowners begin by browsing listings. That is understandable, but it is usually the wrong first move. The real starting point is this question: What can you comfortably carry after you sell, close, move, and reset your monthly costs? That means reviewing: your estimated sale proceeds mortgage payout penalties, if any property transfer tax on the purchase legal fees, moving costs, and immediate improvement costs the payment range that still feels comfortable in real life This matters even more in 2026 because borrowing conditions are better than they were at the peak of the rate cycle, but affordability still needs to be handled carefully. The Bank of Canada’s policy rate has been 2.25% since January 28, 2026, and CMHC says variable mortgage rates have fallen over the last two years while fixed rates are more exposed to higher bond yields. In Most Cases, Sell First or Prepare to Sell First For most move-up buyers in Victoria, the safest strategy is one of these two paths: sell first, then buy prepare the home for sale first, then buy only when the sale path is clear Why? Because upsizing magnifies risk. If you buy first without a firm plan, you can end up dealing with: pressure to accept less for your current home carrying two properties at once rushed financing decisions emotional overbidding because you feel committed to the next purchase That does not mean buying first is always wrong. It can work for homeowners with significant equity, strong income, or access to bridge financing and a comfortable financial cushion. But for many households, selling first creates clarity and negotiating discipline. The Best Upsizing Strategy Is Usually a Three-Part Plan 1. Prepare your current home to sell like a product, not just a possession Before you even seriously shop, get your current home market-ready. That means: tackling obvious maintenance items decluttering and depersonalizing improving lighting and flow getting staging advice where appropriate understanding where your home sits against current competition This step matters because your current home is the engine that powers the next move. The cleaner and clearer your sale, the easier your upgrade becomes. 2. Get financing fully reviewed before writing offers Do not rely on a rough online estimate. A proper financing review should cover: your likely sale proceeds maximum purchase price payment comfort zone down payment structure bridge financing options what happens if your sale takes longer than expected The goal is not just to know your ceiling. It is to know your safe range. 3. Shop with strict priorities When people upsize, they can accidentally overpay for the wrong kind of “more.” More square footage is not always better if the location worsens, the lot is awkward, or the layout still does not solve the real problem. Focus on the upgrades that materially change daily life, such as: one more true bedroom a more functional family layout a usable yard better school or commute positioning suite potential less deferred maintenance a neighbourhood that fits the next five to ten years In Victoria, Timing Matters, But Sequence Matters More Many homeowners worry about “the perfect time” to upsize. In reality, sequence is usually more important than trying to outguess the market by a month or two. That said, current Victoria conditions do support a more strategic move-up approach. VREB reported balanced market conditions in February 2026, with 465 sales and 2,823 active listings at month-end. That was a 10.6 percent increase in active listings from January, giving buyers more choice than a tighter market would. For upsizers, that balance can help in two ways: you may have more selection on the purchase side you may face less frenzy than in a fully overheated market But balance does not remove the need for sharp pricing. If your current home is overpriced, the entire plan can stall. Avoid the Trap of Over-Improving Before You Sell A common mistake is spending too much getting the current home “perfect” before listing. Most of the time, upsizers do not need perfection. They need traction. That means focusing on improvements that help buyers feel confidence quickly: paint touch-ups repairs buyers will notice immediately cleaner presentation curb appeal better furniture layout pre-listing organization Expensive renovations with weak payback can delay your next move and reduce flexibility. The question is not “How do we maximize every dollar of value?” It is often “How do we improve saleability without overcapitalizing?” Have a Backup Plan Before You Need One The strongest move-up strategies include a backup plan early. That might include: temporary rent-back after your sale bridge financing if purchase and sale dates do not line up a short list of acceptable interim housing options a smaller geographic search expansion if inventory is thin in your top neighbourhood This is what reduces panic decisions. The move-up buyer who has a backup plan usually negotiates better than the buyer who feels cornered. What Homeowners in Victoria Should Do Right Now If you are thinking about upsizing this year, the best next move is usually: determine your likely sale range with current comparables review mortgage and equity numbers in detail prepare your current home before actively shopping define your non-negotiables for the next home be ready to act when the right property appears, not just any larger property That is the difference between moving up strategically and simply moving sideways at a higher cost. Final Thoughts The best strategy for homeowners in Victoria who want to upsize is to treat the move as a coordinated two-property decision, not just a home search. Your sale, your financing, your timing, and your purchase criteria all need to support each other. In a market with more choice and relatively steady benchmark pricing, the real advantage comes from preparation, not prediction. If you are thinking about upsizing in Greater Victoria and want help building a move-up plan that fits your equity, timing, and next-home goals, contact Faber Real Estate Group for tailored advice on your best next step.   Brett Hayward, 5-Star Review, via Google “I can’t suggest how to make Fabers better at being good realtors. They’re already congenial, trustworthy, informed, experienced, and thorough. Cal listened and advised, and somewhere in the middle he said what the condo would sell for and he was right on. Thanks!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”  

When buyers compare Fernwood vs Fairfield Victoria BC, they are usually not choosing between a good area and a bad one. They are choosing between two strong neighbourhoods that offer very different versions of Victoria living. Both are established, desirable, and close to the urban core, but the day-to-day feel is not the same. The City of Victoria identifies both as distinct neighbourhoods within the city, and both have active community associations and established planning frameworks that shape how they evolve. The real difference is not price alone A lot of buyers start with price, but that usually is not the best first filter. The better question is this: Do you want a neighbourhood that feels a little more eclectic and community-driven, or one that feels more polished, coastal, and traditionally residential? That is where the Fernwood versus Fairfield decision usually becomes clearer. Why Fernwood appeals to so many buyers Fernwood tends to attract buyers who want character, creativity, and a stronger sense of neighbourhood identity. The City-approved Fernwood neighbourhood plan was adopted in July 2022, and the planning work around Fernwood emphasizes housing choice, sustainable transportation, and the role of Fernwood Village as a local centre. The City also describes Fernwood Village as a cluster of well-maintained, intact, and regionally significant heritage buildings centred on Fernwood Avenue and Gladstone Avenue. In practical terms, Fernwood often appeals to buyers who value: heritage character local independent-business energy a community-oriented atmosphere a more urban, artsy, lived-in feel housing with personality rather than polish alone Fernwood also has a strong community identity beyond real estate. Fernwood NRG describes itself as a neighbourhood house run by and for Fernwood residents, which reinforces the area’s reputation for grassroots community involvement. Why Fairfield draws a different type of buyer Fairfield usually attracts buyers who want a quieter residential setting with a more classic Victoria feel. City planning documents for Fairfield identify village nodes such as Fairfield Plaza Village, Five Points Village, and Moss Street Village, and the broader area is closely tied to major outdoor amenities and shoreline access. The City describes Beacon Hill Park as the crowning jewel in Victoria’s park system, with roughly 740,000 square metres of parkland, while Dallas Road Beach is identified by the City as offering beach access, water views, and trails and paths. That usually makes Fairfield attractive to buyers who value: a more established residential feel access to major parks and shoreline walking a quieter streetscape in many pockets a classic South Victoria lifestyle a neighbourhood that often feels more traditional and tucked in Fairfield is often less about edge and more about ease. How the housing feel differs This is where the comparison becomes more useful for serious buyers. Fernwood Fernwood often feels more varied. Buyers will notice a mix of older character homes, smaller lots, converted properties, and a broader blend of housing types as the neighbourhood evolves. Because the neighbourhood plan focuses on housing choice and village-centred growth, Fernwood can feel more dynamic and more layered block to block. Fairfield Fairfield often feels more consistently residential. Even as housing policy changes continue across Victoria, Fairfield has long been associated with traditional residential form, and planning documents continue to frame parts of the area around village nodes within a largely established neighbourhood fabric. That difference matters because some buyers want variety and evolution, while others want consistency and predictability. Lifestyle fit: which one feels more like you? This is usually the fastest way to narrow it down. Fernwood may be the better fit if you want: more character and neighbourhood personality a stronger arts and community vibe a less polished, more organic streetscape easier comfort with mixed housing forms and gradual change a neighbourhood that feels creative and active Fairfield may be the better fit if you want: a calmer, more residential atmosphere close access to major green space and waterfront walking a classic Victoria setting a neighbourhood that feels established and timeless a more traditionally residential day-to-day experience Neither choice is more “correct.” They just serve different buyer priorities. What buyers often miss in this comparison The biggest mistake is assuming the choice is only about prestige or popularity. It is not. The better choice usually comes down to how you want to live Monday through Friday, not just how the area feels on a sunny Saturday afternoon. For example: If you want a neighbourhood with a little more texture and community energy, Fernwood may feel more natural. If you want a calmer residential setting with easier access to landmark outdoor spaces, Fairfield may feel stronger. If you are buying for long-term lifestyle stability, street-by-street fit matters more than broad reputation. That is especially true in Victoria, where neighbourhood transitions can happen quickly over only a few blocks. Which neighbourhood is better for resale? Both can hold strong appeal, but for different reasons. Fernwood often attracts buyers who are drawn to character, walkability, and community identity. Fairfield often attracts buyers who prioritize location stability, park access, and a classic South Victoria feel. In other words, both have strong demand drivers, but the buyer pools are not always identical. This is why resale strength is often more about matching the right property to the right neighbourhood expectation than trying to declare one area universally better. That conclusion is an informed market inference based on the neighbourhood characteristics and planning context above. The bottom line Fernwood and Fairfield are both excellent Victoria neighbourhoods, but they appeal to different instincts. Fernwood tends to suit buyers who want character, culture, and a stronger neighbourhood pulse. Fairfield tends to suit buyers who want a quieter residential setting, classic Victoria appeal, and close access to park and waterfront amenities. The best choice is usually not the one with the strongest reputation. It is the one that fits the way you actually want to live. If you are deciding between Fernwood and Fairfield, contact Faber Real Estate Group for local guidance on which neighbourhood better fits your budget, lifestyle, and long-term goals. Grace C., 5-Star Review, via Google “Zach is very pleasant and professional at all times. He's great to work with. He helped us find a great home for our family. Thank you.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Deciding whether to sell before you buy Victoria BC is one of the biggest strategy questions homeowners face. It sounds simple on the surface, but the right answer depends on your equity, risk tolerance, financing options, and the type of market you are moving through. In Greater Victoria, that decision matters even more right now because inventory has been stronger while sales activity has been more measured, creating conditions that are closer to balanced, and in some segments near the threshold of a buyer’s market. The Victoria Real Estate Board reported 465 sales in February 2026, down 11.9 per cent from February 2025, while benchmark prices in the Victoria Core were relatively steady year-over-year, with single family homes at $1,307,400 and condos at $545,600. Why this decision matters so much Many sellers assume the only goal is to avoid being homeless or carrying two homes at once. That is part of it, but there is a bigger issue underneath: sequence creates leverage or pressure. When you sell first, you usually gain clarity. You know your sale price, your equity position, and your financing range. When you buy first, you may gain convenience, but you also take on more uncertainty if your current home does not sell as quickly or as strongly as expected. That is why this is not just a timing question. It is really a risk-management question. When selling before buying makes sense For many homeowners, selling first is the safer and more strategic move. It often makes sense when: you need the equity from your current home for the next down payment your finances do not comfortably support owning two properties at once you are moving up in price and want a firm budget before shopping your current property may take time to sell you want stronger negotiating clarity on your next purchase In a market with more choice for buyers, selling first can reduce the chance of being forced into a rushed price reduction later. VREB noted that January 2026 sat near the threshold between balanced and a buyer’s market due to stronger inventory and fewer sales, which is exactly the kind of environment where overconfidence can cost sellers leverage. The biggest advantage of selling first The biggest benefit is control. Once your home is sold firm, you are no longer guessing: how much equity you will walk away with whether your buyer will complete what mortgage amount you can comfortably carry how aggressively you need to negotiate on your next purchase That clarity often leads to better decision-making. Sellers who know their numbers tend to shop more confidently and avoid stretching just because a property feels emotionally right. When selling before buying may not make sense Selling first is not always the best option. It may not make sense when: you are in a very tight segment with limited replacement inventory you have strong finances and flexibility you are highly specific about location, school catchment, or property type you would rather secure the right home first and manage the overlap temporary housing would create too much disruption This is especially true for downsizers or buyers looking for a very specific product, such as a one-level townhome, a certain condo building, or a rare neighbourhood fit. In those cases, finding the next home can be harder than selling the current one. So while selling first reduces financial risk, it can increase lifestyle uncertainty if the replacement options are limited. When buying first can make sense Buying first can work well when the next home is harder to find than the current home is to sell. It may make sense when: you have substantial equity and strong financing you can qualify without relying fully on your current home sale the home you want is uncommon and worth locking in you have access to bridge financing or other short-term liquidity your current home is in a highly marketable price range and condition This strategy can also reduce pressure on your move. Instead of racing to line up dates, you may have time to renovate, pack gradually, and prepare your existing home properly for market. The trade-off is obvious: convenience can come with cost and risk. The role of subject to sale offers Some buyers try to split the difference by writing an offer that is conditional on the sale of their current home. In BC, this is commonly handled through a subject to sale clause. BCFSA’s clause guidance explains that a buyer can make their purchase conditional on entering into a sale contract for their existing property, or on that contract becoming unconditional by a certain date. BCFSA also notes that sellers often protect themselves by continuing to market the property and using time-clause language where appropriate. This approach can make sense, but it is not always competitive. In practical terms: it can protect the buyer from owning two homes it can help a seller buy without fully selling first it is usually less attractive to the seller on the other side it can be harder to win in a desirable or competitive segment So yes, subject to sale can be useful, but it should not be treated like a magic solution. It is simply one tool, and it works best when the property you are pursuing has less competition or has been on the market longer. Risks sellers often underestimate The real problem is not choosing one sequence or the other. The real problem is underestimating the downside of the wrong fit. If you sell first, the risks are: feeling rushed to buy settling for a home that is only “good enough” needing temporary housing or storage facing rising prices in the segment you want next If you buy first, the risks are: carrying two homes longer than expected accepting a weaker offer on your current property due to time pressure increasing debt and stress during the transition discovering your lender or budget is tighter than expected This is why generic advice rarely helps. The right strategy depends on what kind of move you are making, not just what the market is doing overall. A better way to think about the decision Instead of asking, “Should I sell first or buy first?” ask these questions: Is my current home easier to sell than my next home is to find? Do I need my sale proceeds to complete the next purchase? Could I comfortably carry overlap if my home took longer to sell? Am I moving because I want a better fit, or because I need a strict timeline? How much stress am I willing to absorb to gain flexibility? Those questions usually lead to a better answer than broad market opinions. What this often looks like in real life A move-up buyer with limited cash flexibility usually benefits from selling first. A downsizer targeting one specific building may prefer to buy first. A family relocating within the Westshore may choose whichever option creates the least disruption to school, work, and childcare. An investor or highly liquid homeowner may be able to be more opportunistic. The strategy should match the household, not just the headlines. The bottom line Selling before buying makes sense when financial clarity matters more than convenience. Buying before selling can make sense when securing the right replacement property is the harder part of the move. Neither path is automatically right. The best choice is the one that protects your downside while still giving you enough flexibility to make a smart move. If you are weighing whether to sell first or buy first in Greater Victoria, contact Faber Real Estate Group for advice tailored to your property, your price range, and the kind of move you want to make next. Helen M., 5-Star Review, via Google “Cal and Scott are the best. They made it happen and made the entire process of securing my condo smooth and stress free. They were always supportive, responsive, and clearly committed to getting the right result. I am very grateful for their hard work and would highly recommend them to anyone looking for reliable, dedicated realtors.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

The demand for condos remains strong, and understanding the popular condo features in Greater Victoria helps buyers narrow their options among many new and resale developments. With increased inventory and diverse building styles across the region, buyers now focus more on lifestyle, efficiency, and long-term value when choosing a condo. Open Layouts and Functional Floor Plans Buyers consistently prioritize layouts that maximize usable space. Open-concept living areas create better flow, allow more natural light, and make smaller units feel larger. Additionally, buyers value: Flexible spaces for home offices or guest areas Bedrooms positioned away from main living spaces Efficient storage solutions within the unit As remote and hybrid work remains common, functional floor plans continue to rank among the most popular condo features. Outdoor Living Spaces Private outdoor areas strongly influence purchasing decisions. Even compact balconies add valuable living space and improve resale appeal. Buyers often look for: Covered patios or balconies usable year-round South or west-facing exposure for sunlight Space for seating, plants, or small entertaining setups In a region known for its mild climate and scenic views, outdoor access significantly increases buyer interest. Modern Kitchens and Quality Finishes Kitchens remain a central selling feature. Buyers prefer clean, modern finishes that require minimal upgrades after purchase. Highly desirable kitchen features include: Quartz or stone countertops Full-size stainless steel appliances Soft-close cabinetry Kitchen islands or breakfast bars Quality finishes signal durability and reduce immediate renovation costs, which appeals to both first-time buyers and downsizers. In-Suite Laundry and Storage Convenience plays a major role in condo selection. In-suite laundry is now considered essential rather than optional. Buyers also seek adequate internal storage, including closets, pantries, and utility spaces. Separate storage lockers and secure bike storage further increase building appeal, especially for active Greater Victoria residents. Parking and EV Charging Parking availability remains a key factor, particularly outside downtown Victoria. Buyers often prioritize: Assigned or secure underground parking Visitor parking availability Electric vehicle charging infrastructure As EV ownership rises across Vancouver Island, buildings that offer charging options often attract more interest. Building Amenities That Support Lifestyle Amenities vary widely between developments, but buyers tend to favour practical features over luxury extras. Popular amenities include: Fitness centres Secure package delivery systems Resident lounges or shared workspaces Pet-friendly policies and dog washing stations These amenities enhance day-to-day living while strengthening long-term resale value. Energy Efficiency and New Building Technology Sustainability continues to influence buyer decisions. Energy-efficient buildings reduce operating costs and align with environmental values common among Greater Victoria residents. Buyers increasingly look for: Energy-efficient windows and heating systems Heat pumps or modern HVAC systems Smart home features such as digital entry and thermostat control Developments that incorporate these technologies often stand out in competitive markets. Location and Walkability Beyond the unit itself, buyers focus heavily on surrounding neighbourhood features. Proximity to amenities improves convenience and lifestyle quality. Top location priorities include: Walkable access to groceries, cafes, and services Access to transit and major commuter routes Proximity to waterfront trails and parks Downtown Victoria, Vic West, the Westshore, and Saanich developments each attract buyers for different lifestyle reasons, making location one of the strongest value drivers. Final Thoughts With numerous developments available, buyers are carefully comparing options and prioritizing comfort, convenience, and long-term investment potential. Understanding the most popular condo features can help buyers identify units that align with their lifestyle while protecting resale value. If you are considering buying or selling a condo in Greater Victoria, contact us anytime to discuss your options and current market opportunities. Florenda S., 5-Star Review, via Google “We worked with Cal & Scott selling our home recently. The effort they put into the sale was amazing with the photo virtual walk through set, the video, the night shots and open houses. Our house sold very quickly even in a slowdown in the market.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Living in Shawnigan Lake BC appeals to buyers who want a quieter lifestyle, more space, and stronger connection to nature without being completely cut off from Victoria or the Cowichan Valley. Living in Shawnigan Lake BC can be a strong fit for people who value recreation, privacy, and a more relaxed pace, but it is not the right match for every buyer. That is the key with Shawnigan Lake. It is easy to be drawn in by the lake lifestyle and wooded setting, but the best purchase usually comes from understanding how the area functions day to day, not just how it looks on a sunny weekend. The Lifestyle Is a Big Part of the Draw Shawnigan Lake is known for outdoor living. West Shawnigan Lake Park offers beach access, swimming, picnic areas, trails, and other day-use amenities, while the broader lake area is known for boating, paddling, and family recreation. The Shawnigan Lake Community Centre also adds local programming, childcare, events, and recreation space that help support year-round community life. For many buyers, that lifestyle is the reason to look there in the first place. The area tends to suit people who want: more land and privacy than many urban neighbourhoods offer access to outdoor recreation close to home a less dense, more rural-feeling setting a community-oriented environment rather than a fully urban one That said, buyers should look beyond the lifestyle branding and ask what their weekly routine would actually feel like in Shawnigan Lake during workdays, school days, and winter months. It Offers a Different Kind of Convenience Shawnigan Lake is not designed around the same kind of convenience as central Victoria, Langford, or even some parts of the Westshore. Buyers often trade quick access to a larger retail and service base for space, setting, and lifestyle. That is not a flaw. It is simply a different value proposition. For some households, that trade-off feels worth it immediately. For others, the commute, driving time, and day-to-day logistics can become more noticeable after the move. Buyers should think carefully about: how often they need to commute south toward Greater Victoria how often they rely on nearby shopping and services whether they are comfortable with a more car-dependent routine how important immediate access to schools, activities, and appointments is for their household Schools and Family Planning Matter Families considering Shawnigan Lake should verify school catchments directly, but public school options in the Cowichan Valley School District include Discovery Elementary in Shawnigan Lake and Frances Kelsey Secondary in nearby Mill Bay, with the district providing a school locator and registration tools. This matters because many buyers focus first on the home and only later on how school routes, extracurriculars, and pick-up logistics will work in practice. In more semi-rural communities, those details can shape daily life more than buyers expect. Property Types Can Vary More Than Buyers Assume One of Shawnigan Lake’s strengths is variety. Depending on budget and location, buyers may find modest cottages, family homes on larger lots, rural properties, and lake-area homes with very different levels of privacy, access, and utility servicing. That variety is attractive, but it also means buyers need to compare carefully. Two homes in the same broad area can feel very different in terms of: road access slope and usability of land privacy and sun exposure water access or lake proximity septic, well, or servicing considerations renovation needs and long-term maintenance In areas like Shawnigan Lake, the land is often part of the purchase decision, not just the house itself. Planning and Land Use Should Be Part of Due Diligence The Cowichan Valley Regional District adopted its Official Community Plan for the electoral areas in late 2025, and local area planning continues to shape how growth, land use, and community character are managed in places like Shawnigan Lake. For buyers, that means it is smart to look beyond the listing brochure and understand: current zoning permitted uses any development or subdivision limitations environmental or servicing constraints how future planning may affect the area This is especially important for buyers who are hoping for suite potential, future expansion, hobby use, or longer-term redevelopment options. Buyers Should Not Confuse Assessments With Market Value BC Assessment’s 2026 update said Vancouver Island property values were generally flatter this year, and assessments reflect value as of July 1, 2025, for tax purposes. That can be useful context, but it is not the same thing as current market value for a specific home in Shawnigan Lake. This matters because buyers sometimes use assessed value as a shortcut. In a location like Shawnigan Lake, that can be misleading. Waterfront influence, lot usability, home updates, privacy, and outbuilding value can all create meaningful differences between assessment figures and real market appeal. The Broader Island Market Is Giving Buyers More Time Than Before The Vancouver Island Real Estate Board reported 388 unit sales across all property types in January 2026, down 10 per cent year over year, while active listings were up six per cent. That points to a market with more choice and somewhat less urgency than the tightest periods buyers experienced in prior years. For Shawnigan Lake buyers, that can be helpful. It can create more room to: inspect carefully compare properties more thoroughly assess long-term fit instead of rushing negotiate where pricing or presentation is off That does not mean every good property will sit. It means buyers have a better chance to be thoughtful, which is especially important in a location where property characteristics can vary so widely. Who Shawnigan Lake Often Fits Best Shawnigan Lake often suits buyers who want a property that supports lifestyle first and convenience second. That could include: families wanting more indoor and outdoor space buyers leaving denser urban areas remote or hybrid workers households prioritizing recreation and privacy buyers comfortable with a more rural rhythm It may be less ideal for buyers who want walkability, short errand times, or fast access to a full range of urban amenities every day. Final Thoughts Living in Shawnigan Lake BC can be a great choice for buyers who want space, recreation, and a community with a more relaxed pace. The lifestyle is a real advantage, but the best decisions usually come from balancing that appeal with practical due diligence around commute, schools, land use, servicing, and long-term fit. If you are thinking about living in Shawnigan Lake BC and want help comparing properties, understanding the trade-offs, or narrowing down the right fit for your goals, contact Faber Real Estate Group for clear local guidance tailored to your next move. Shauna S., 5-Star Review, via Google “Both Scott and Cal assisted us in selling and purchasing. It was a big move for us but they both assisted us in getting more than we initially expected and getting us into a really great property. They helped us work through some issues on both ends and were very professional and helpful! We recommend them to our friends and family who need an agent.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Current Vancouver Island real estate trends are showing a market that is more balanced, more selective, and more nuanced than many buyers and sellers expected. Current Vancouver Island real estate trends point to a spring market with healthier inventory, softer year-over-year sales in some regions, and pricing that is holding relatively steady rather than swinging sharply in either direction. That matters because “Vancouver Island” is not one single market. Greater Victoria follows its own board statistics, while many other Island communities fall under the Vancouver Island Real Estate Board. Still, the broader pattern is becoming clearer: inventory has improved, buyers have more choice, and homes that are priced and presented well are still attracting attention. Inventory Is Giving Buyers More Breathing Room One of the biggest current shifts is selection. In the Victoria Real Estate Board region, active listings reached 2,903 at the end of February 2026, up 10.6 per cent from January and 10.4 per cent from February 2025. VREB described conditions as moving into a more balanced market as sales activity improved through February. Outside Greater Victoria, the Vancouver Island Real Estate Board reported that February 2026 sales picked up from January while active listings rose about five per cent year over year. That does not mean every area is slow. It means buyers are no longer dealing with the same level of scarcity that defined earlier markets. For buyers, this creates more room to compare properties, review strata documents carefully, and negotiate more strategically. For sellers, it means the market is still workable, but stronger competition is back. Sales Activity Is Improving Month to Month, Even if Year-Over-Year Comparisons Look Softer A common mistake is to look only at year-over-year sales and assume demand is weak everywhere. The more useful story right now is that activity is improving as spring approaches. In Greater Victoria, total February 2026 sales were up 37.2 per cent from January, even though they were down 11.9 per cent from February 2025. VREB’s chair noted that the spring market will be worth watching closely because February showed a meaningful pickup from the slower start to the year. VIREB also reported a February rebound as spring approached, with 465 unit sales across all property types, down three per cent from a year earlier but stronger than January. The practical takeaway is simple. Demand has not disappeared. It has become more cautious, more price-sensitive, and more dependent on value. Pricing Is Looking More Stable Than Dramatic Current Vancouver Island real estate trends also show that prices are not moving in one extreme direction. In Greater Victoria, the benchmark value for a single-family home in the Victoria Core was $1,307,400 in February 2026, down 0.9 per cent from February 2025 but up from January 2026. The benchmark value for a condominium in the Victoria Core was $545,600, down 0.7 per cent year over year and also up from January. At the provincial level, BCREA reported that the average MLS® residential price in BC in February 2026 was $932,243, down 2.9 per cent from February 2025. BCREA also said overall activity remains below historical norms, with February unit sales sitting 32.87 per cent below the ten-year average for the month. This points to a market that is not collapsing, but also not rewarding overconfidence. Sellers who reach too high may sit. Buyers waiting for a major price drop may find that the actual story is steadier pricing combined with better choice. Balanced Conditions Are Changing Negotiation Strategy A balanced market changes behaviour on both sides. Buyers often have: more time for due diligence more options within the same budget better leverage when a listing is stale or poorly positioned Sellers still have opportunity, but the old “list and wait for a bidding war” mindset is less reliable. In this kind of market, pricing strategy, property preparation, and strong marketing matter more because buyers can compare more inventory side by side. This is especially important on Vancouver Island because local submarkets behave differently. A well-priced home in a desirable Victoria neighbourhood may move very differently than a larger home in a slower-moving secondary market. The Island is active, but it is not uniform. Interest Rates and Confidence Are Still Part of the Story BCREA has signalled that improved affordability conditions and stable rates could help bring more buyers back into the market through 2026. In a separate 2026 outlook, BCREA said economists were forecasting a provincial sales rebound, with sales expected to rise 12.8 per cent to 81,700 units as buyers re-engage. That does not guarantee a surge everywhere, but it does support the idea that today’s market may be an early-stage transition rather than a flat year from start to finish. For buyers, that can mean opportunity before confidence broadens. For sellers, it can mean getting ahead of more competing listings if they are planning to come to market in spring or early summer. What This Means for Buyers Right Now For buyers, the current Vancouver Island real estate trends suggest a market where patience and preparation can finally work together. That means: getting pre-approved before spring activity builds further comparing neighbourhoods rather than chasing only one pocket focusing on long-term suitability, not just short-term discount hunting watching days on market and price adjustment patterns closely In a more balanced market, the best opportunities are often not the newest listing. They are the homes where timing, presentation, and seller expectations have created room for a more thoughtful deal. What This Means for Sellers Right Now For sellers, the message is not negative. It is strategic. Homes can still sell well in this environment, but they usually need: accurate pricing from day one polished presentation and strong photography a clear value story compared with nearby competition realistic expectations about negotiation When inventory rises, buyers become better at comparison shopping. That means sellers need to remove uncertainty, not add to it. Final Thoughts The clearest reading of current Vancouver Island real estate trends is this: the market is active, more balanced than before, and increasingly driven by strategy rather than momentum alone. Inventory has improved, sales have started to rebound month to month, and prices appear relatively stable rather than sharply volatile. For buyers, that creates more choice and better decision-making conditions. For sellers, it creates a market where preparation and pricing discipline matter more than ever. If you want help interpreting what these trends mean for your area, your property type, or your timing, contact Faber Real Estate Group for clear local guidance tailored to your next move. Christina A., 5-Star Review, via Google “We had such a great experience working with Scott Faber during our recent home buying! From the start, Scott made everything super easy and was always there to answer our questions. Scott really listened to what we wanted and helped us find the perfect place. What we appreciated most was how down-to-earth and approachable he was. No matter what came up, Scott was on top of it and kept us in the loop the whole time. We felt like we were in great hands the entire process. I’d definitely recommend Scott to anyone looking for a real estate pro who truly cares and knows their stuff!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

Buying your first home in BC is already a big financial and emotional decision. The new federal GST rebate has created real opportunity for first-time buyers, but it also creates room for confusion. That is where costly assumptions can happen. For many buyers, the headline is exciting: eligible first-time buyers can recover up to 100% of the GST on new homes priced at or below $1 million, with a reduced rebate available between $1 million and $1.5 million, and no rebate at $1.5 million or more. The legislation received Royal Assent on March 12, 2026, and the CRA has now published application guidance. The problem is simple. Many buyers hear “GST rebate” and assume it applies automatically, applies to every property type, or applies no matter how the purchase is structured. It does not. Here are some of the most common mistakes first-time buyers could make with the GST rebate in BC. 1. Assuming the rebate applies to every home purchase This is one of the biggest misunderstandings. The first-time home buyers’ GST rebate is aimed at new homes, substantially renovated homes, some owner-built homes, and certain co-op purchases. It is not a blanket rebate for resale homes. In BC, that matters because many first-time buyers are comparing older condos, resale townhomes, and presale or newly built units at the same time. If a buyer assumes the rebate applies across the board, they could miscalculate affordability by tens of thousands of dollars. 2. Thinking “first-time buyer” just means buying your first property The eligibility test is more specific than many buyers expect. The CRA says a person must generally be at least 18, be a Canadian citizen or permanent resident, and not have lived in a home they or their spouse or common-law partner owned in the current calendar year or the previous four calendar years. That means a buyer can be new to the market emotionally, but still not qualify legally. This is especially important for: buyers who previously owned with a former partner buyers who lived in a spouse’s owned property buyers returning to the market after a past purchase parents helping structure a purchase 3. Forgetting the price threshold is strict At or below $1 million, the rebate can be up to $50,000. Between $1 million and $1.5 million, the rebate is phased down. At $1.5 million or above, there is no rebate. The CRA even gives a sample where a $1.25 million home could qualify for 50% of the maximum rebate. That creates a practical mistake: buyers may stretch just beyond a key threshold without realizing the financial trade-off. In higher-priced BC markets, this matters. A buyer who focuses only on monthly payments may overlook the fact that a slightly higher purchase price could sharply reduce or eliminate rebate value. That can affect deposit planning, closing costs, and total cash required. 4. Assuming the rebate will always be built into the transaction automatically Some buyers think the builder, lawyer, or accountant will automatically handle everything. Sometimes parts of the process are streamlined, but the CRA has published formal application routes and forms depending on the purchase type. For homes purchased from a builder, there is a specific process, and for some files, the buyer may need to apply directly. Buyers should not treat this as “someone else’s problem.” A missed form, a missed signature, or a missed filing deadline can turn a valuable rebate into a lost opportunity. 5. Missing the application deadline The CRA says there is generally a two-year time limit to apply, usually from the date ownership is transferred or construction is substantially completed. That sounds generous, but in real life it is easy to lose track once the move is done, the furniture is in, and life gets busy. Buyers who assume they can “deal with it later” may leave money on the table. 6. Not understanding that the home must be a primary place of residence The rebate is tied to a home intended for use as the buyer’s primary place of residence. The CRA repeats this across its guidance for the first-time buyers’ rebate and the existing new housing rebate. That creates risk for buyers who are: purchasing with mixed personal and investment motives planning to assign a presale buying for a family member without meeting the actual criteria expecting to use the property mainly as a rental This does not mean every future life change creates a problem. It does mean the purchase should be structured honestly and carefully from the start. 7. Confusing the new rebate with the existing new housing rebate The new first-time buyers’ GST rebate does not simply replace every older rebate program. According to the CRA, where both rebates apply, the first-time buyers’ rebate can act as a top-up to the existing GST/HST new housing rebate. That is good news, but it is also where confusion grows. Buyers may: assume they can only claim one assume they automatically receive the full amount misunderstand which form applies to which rebate rely on outdated rules they heard before Royal Assent This is exactly why first-time buyers should review the current CRA guidance rather than relying on summaries shared months ago. The program moved from proposal stage to enacted legislation on March 12, 2026. 8. Believing every agreement date qualifies Timing matters. Government guidance states that the rebate generally applies to agreements of purchase and sale entered into on or after March 20, 2025 and before 2031, with additional timing rules for construction completion. That means buyers should not assume that every presale or every recently completed new home qualifies. The contract date, completion timeline, and transaction structure all matter. 9. Keeping weak records The CRA says buyers should keep documents such as completed applications, purchase agreements, invoices for owner-built homes, and proof of occupancy for six years. This sounds administrative, but it is important. Missing paperwork can slow processing, create stress, and make it harder to support a claim if questions come up later. 10. Making a buying decision based only on the rebate A rebate can improve affordability, but it should not be the reason a buyer chooses the wrong property, overextends on budget, or rushes into a purchase that does not suit their lifestyle. In practice, the best use of the GST rebate is strategic. It can help reduce upfront tax cost, improve cash flow at closing, and expand options in the right purchase. It should not replace due diligence on location, strata, future resale appeal, or monthly carrying costs. A Smarter Way to Approach the GST Rebate in BC For first-time buyers in BC, the real opportunity is not just saving tax. It is making a more informed decision. Before you buy, it helps to ask: Is this property actually eligible? Do I clearly meet the first-time buyer test? What happens to the rebate at this exact price point? Who is responsible for the paperwork? How does this affect my real closing costs, not just the purchase price? Those questions can prevent expensive surprises. Final Thoughts The GST rebate is a meaningful opportunity for eligible first-time buyers, but only when the details are understood early. In BC, where price points, presales, and new construction decisions can move quickly, small misunderstandings can become expensive mistakes. If you are weighing a new home, presale, or first purchase strategy and want help thinking through the numbers, eligibility considerations, and property fit, contact Faber Real Estate Group for clear guidance tailored to your goals. Chris, 5-Star Review, via Google “We are so thankful for the team at Faber Group! From the moment we started looking for a new place to call home, the team was understanding, attentive, and driven to find us the perfect place. We worked with Cal, Scott, and Zach and we would be honoured to work with them again in the future. As we are first-time buyers, these gentlemen patiently answered my myriad of 'beginner' questions and made me feel at ease with the whole process. And my my, buying a house IS a process. They were all so kind and knowledgeable! Look no further if you want to work with a team that thrives on providing excellent service and with a heart to see you find that 'perfect place to call home.'” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

If you want to prepare your home for listing photos properly, the goal is not perfection. The goal is clarity. Great listing photos help buyers understand the home, picture themselves living there, and decide whether your property is worth seeing in person. Poor photos can do the opposite, even when the home itself is strong. In today’s market, buyers usually see your photos before they read the full description, book a showing, or ask a question. That means your photos are often your first showing, not just a marketing extra. When a home looks clean, bright, and well-prepared online, it creates stronger first impressions and can increase both interest and confidence. Why listing photos matter so much Most buyers begin their search online. They scroll quickly, compare homes side by side, and make decisions in seconds. If the photos feel dark, cluttered, cramped, or inconsistent, many buyers move on before ever learning the property’s real value. Strong photos matter because they help: Increase click-throughs from MLS and listing websites Create better first impressions before a showing Make the home feel more spacious, bright, and cared for Attract more qualified buyers who already like what they see Support stronger marketing across social media, email, and brochures Good real estate photography does not just document the home. It positions it. The biggest mistake sellers make Many sellers assume the photographer will make everything look better. A skilled photographer absolutely helps, but photography cannot fully fix clutter, poor lighting, visible damage, crowded surfaces, or rooms that feel too personal. Photos work best when the home is already showing well in real life. Think of photography as the amplifier. It will amplify what is good, but it can also amplify what feels distracting. What buyers notice in listing photos Buyers may not say it this way, but they are usually asking themselves three questions while looking at photos: 1. Does this home feel well cared for? Visible mess, stains, crowded countertops, and burnt-out bulbs can make buyers assume there are deeper maintenance issues. 2. Does this home feel spacious and functional? Too much furniture, poor room layout, or overloaded shelves can make even a decent room feel smaller than it is. 3. Can I picture myself here? Highly personal items, too many family photos, bold niche décor, and visual clutter can make it harder for buyers to connect emotionally. This is why photo preparation matters. It helps buyers focus on the home, not the distractions. How to prepare your home for listing photos Start with a full clean A clean home always photographs better. Dust, smudges, streaks, pet hair, soap scum, and dirty floors often stand out more in photos than they do in person. Focus on: windows and mirrors kitchen counters and appliances bathroom sinks, tubs, and faucets baseboards and flooring light fixtures and glass surfaces A home does not need to feel sterile, but it should feel fresh. Declutter every room Clutter competes with the features of the home. Buyers should notice the space, layout, and light, not cords, piles, baskets, or too many decorative items. Try to remove: extra items from countertops papers, chargers, and cords oversized or excess furniture laundry hampers and floor mats personal toiletries fridge magnets and notes visible pet items Less visual noise usually makes a room feel larger and calmer. Depersonalise the space You are not trying to remove all warmth. You are trying to create room for the buyer’s imagination. Pack away or reduce: family photos children’s artwork on walls or fridges highly specific collections personalized signs bold or polarizing décor The more universal the space feels, the easier it is for buyers to picture their own life in it. Let in as much light as possible Natural light helps a home feel more open and inviting. Before photos, open blinds and curtains, replace burnt-out bulbs, and make sure every light fixture works. Good lighting can make a major difference in: room size perception colour balance overall mood buyer confidence in the condition of the home Dark rooms often feel smaller online than they do in person. Simplify the kitchen and bathrooms These are two of the most important spaces in listing photos. They should feel clean, functional, and easy to maintain. For kitchens: clear counters as much as possible hide dish soap, sponges, and drying racks remove most small appliances keep only a few simple finishing touches For bathrooms: remove toothbrushes, razors, and products close toilet lids hang fresh, simple towels clear shower shelves and tub edges These rooms tend to show every detail. Make beds and soften bedrooms Bedrooms should feel restful, not busy. Use simple bedding, smooth out wrinkles, and remove extra items from nightstands and dressers. A tidy bedroom helps buyers read the space more clearly and makes the home feel more put together overall. Improve curb appeal for exterior photos Exterior photos often come first in the listing gallery. If the outside feels neglected, it affects how buyers interpret everything that follows. Before exterior photography: sweep walkways and porches move bins and hoses out of sight park vehicles away from the front mow the lawn trim overgrowth remove dead plants clean the front door and entry area You do not need luxury landscaping. You need a tidy and welcoming first impression. Room-by-room photo checklist Entryway remove shoes, jackets, and bags clear the floor keep décor minimal Living room reduce furniture if the room feels tight hide remotes and cords straighten pillows and rugs Kitchen clear counters hide garbage cans if possible polish stainless steel remove clutter from the top of the fridge Dining area keep the table simple remove extra chairs if crowded centre the room visually Bathrooms clear all personal products use clean towels wipe mirrors and glass hide toilet brushes and bins if possible Bedrooms make beds neatly clear surfaces remove bulky storage items from view Laundry room put away detergent and baskets clear machine tops keep it simple and clean Yard and patio tidy furniture remove toys and tools sweep surfaces keep outdoor spaces usable and inviting Why this preparation can affect results Homes that photograph well often create stronger momentum. More clicks can lead to more showings. More showings can lead to better offers and stronger negotiating position. This does not mean photos alone sell the home. Price, condition, timing, and marketing strategy still matter. But photography plays a major role in whether buyers give your home a real chance. Preparation also signals something deeper. It tells buyers the home has been cared for and presented with intention. That can shape how they view value before they ever step through the door. What not to do before listing photos Avoid these common mistakes: leaving too many items on counters and surfaces forgetting to replace burnt-out bulbs keeping curtains closed leaving pet bowls, litter boxes, or beds visible using heavily patterned bedding or towels overdecorating rooms assuming editing will fix everything later The best listing photos usually come from simple preparation, not digital correction. Final thoughts To prepare your home for listing photos, focus on cleanliness, light, simplicity, and removing distractions. Buyers do not need a perfect home. They need a clear, appealing first impression that helps them see the home’s potential. If you want advice on getting your property photo-ready before it hits the market, contact Faber Real Estate Group for practical guidance tailored to your home and selling strategy. Sue S., 5-Star Review, via Google “I loved how they did virtual staging. I didn't have to find furniture etc. to stage the house. Cal and Scott got amazing pictures and made my moms house look like a cozy, beautiful home by placing the furiture etc. into the pictures of the rooms with their furniture. When the house was shown it was empty but Cal and Scott had their computer running so people going through the home could visualize how it could look. I would recommend Cal and Scott, an amazing duo team to sell or purchase any Real Estate.They even came and brought a mirror in to finish off one of the bathrooms in my mom's house. They totally cared and they go above and beyond. If you are looking to buy or sell your home give Cal and Scott a call, you will not be disappointed.”   Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

A smart Victoria real estate wealth strategy is usually less about timing the perfect year and more about owning the right property for a long enough period of time. In Victoria, that matters even more because housing remains expensive, inventory has improved, and many buyers now have more choice than they did in recent years. That creates a better environment for careful, long-term decisions instead of rushed ones. In February 2026, the Victoria Real Estate Board reported that the Victoria Core benchmark for a single-family home was $1,307,400 and the benchmark for a condo was $545,600. For many households, real estate wealth is built in three simple ways: paying down principal, benefiting from long-term appreciation, and improving borrowing power as equity grows. That may sound basic, but basic is often what works. Why real estate can build wealth over time Real estate tends to reward patience. Each mortgage payment can reduce your loan balance, and over time that creates equity. If the property also grows in value, your net worth can rise from both directions at once. In Victoria, this approach can make sense because the market is no longer behaving like a straight-line sprint. The Victoria Real Estate Board said January 2026 sat on the threshold between balanced and a buyer’s market, with 2,624 active listings, up 9.6 per cent year over year. That means buyers may have more room to compare options and choose properties with stronger long-term fundamentals instead of simply chasing whatever is available. That shift matters. Wealth is rarely built by buying under pressure. It is more often built by buying with a plan. The three main ways real estate creates long-term value 1. Equity growth through mortgage paydown Every payment that reduces principal increases your ownership stake. In the early years, progress can feel slow. Over a decade or longer, it becomes meaningful. This is one reason owner-occupied real estate can be powerful. Even if the market has quieter periods, you are still moving forward by paying down debt on an asset you control. 2. Appreciation over a long holding period Victoria real estate does not move in a straight line every year. Some periods are stronger, some are softer, and some feel flat. But over a longer horizon, well-located property has often held its value better than many buyers expect, especially when the property matches durable demand drivers such as proximity to employment, schools, transit, walkable amenities, and lifestyle features buyers continue to want. This is where people sometimes get off track. They focus too much on the next 6 months and not enough on the next 10 years. 3. Income or cost control For investors, this can mean rental income. For owner-occupiers, it can mean controlling housing costs over time compared with the uncertainty of rising rents. BCREA’s Housing Monitor Dashboard says BC inventory was near its highest level in over a decade, while other recent reporting has pointed to easing rental pressure in Greater Victoria. That does not mean every property makes a good investment. It means buyers have a better chance to be selective and choose properties that match a real long-term plan. What makes a strong long-term property in Victoria Not every home is a strong wealth-building asset. The best long-term choices usually have a few things in common: Location strength: areas with lasting demand, not just short-term hype Property flexibility: suites, home offices, family-friendly layouts, or downsizing appeal Land value or scarcity: detached homes and well-positioned townhomes often hold strategic appeal Liveability: walkability, transit access, schools, parks, and daily convenience Financial sustainability: mortgage, strata, taxes, and maintenance that remain manageable A good long-term purchase is not always the flashiest home. It is often the one that still makes sense five or ten years from now. Common ways buyers use real estate to build wealth Buy and live in it for the long term This is the most common path. A buyer purchases a home they can comfortably hold, builds equity over time, and later uses that equity to move up, downsize, or reinvest. Buy with income potential A legal suite, secondary accommodation, or a property with future flexibility can improve the numbers and reduce monthly pressure. For some buyers, that makes homeownership possible sooner and strengthens the long-term strategy. Buy below your maximum budget This approach is less exciting, but often more durable. Keeping monthly costs manageable leaves room for repairs, life changes, and future opportunities. Wealth tends to grow more steadily when the property supports your life instead of stretching it. Upgrade strategically over time Some owners build value through thoughtful improvements rather than major overhauls. Kitchens, bathrooms, energy upgrades, and maintenance can protect value, improve liveability, and support resale appeal later. Where buyers go wrong A long-term plan can still fail if the purchase is based on the wrong assumptions. Common mistakes include: buying for short-term speculation rather than long-term fit stretching too far on monthly costs underestimating maintenance, strata fees, or special assessments assuming every property will perform equally well focusing only on price growth and ignoring cash flow or holding costs This is especially important in Victoria, where affordability remains strained. RBC Economics reported Victoria’s aggregate affordability measure at 67.9 per cent in Q3 2025, still among the least affordable tracked markets in Canada. That does not mean buying is a bad idea. It means buying without a clear plan is a risk. Real estate wealth is usually built slowly, not dramatically The strongest long-term results often come from ordinary decisions repeated over time: buying a property you can hold maintaining it well resisting panic during slower markets refinancing carefully when appropriate moving strategically instead of emotionally That is not the version of real estate people talk about most online, but it is the version that tends to work. A better question to ask before buying Instead of asking, “Will this property jump in value soon?” a better question is: “Will this home still be a good financial and lifestyle fit if I own it for 7 to 10 years?” That question changes everything. It shifts the decision from speculation to strategy. Final thoughts A solid Victoria real estate wealth strategy is rarely built on a quick flip or a lucky guess. It is usually built on time, discipline, manageable numbers, and choosing the right property for your long-term goals. If you want help assessing whether a home fits your long-term wealth plan in Victoria, contact Faber Real Estate Group for advice tailored to your next move. Troy W., 5-Star Review, via Google “We moved to Victoria from Halifax. As our Realtor, Scott helped us find the right house in the right neighborhood for the right price. He was patient as we traveled from the east to look at homes over several months and cautioned us about making unreasonable offers when we fell too quickly for overpriced homes. In short, he was always on our side working to make our house purchase as simple and successful as possible. The best part about working with Scott was that he was always more focused on answering our questions, giving us good advice, and finding homes that met our needs than he was on closing a deal. We would recommend him to anyone. 5 Star service Scott, we look forward to using you again very shortly for an income rental in the new year.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”  

In many cases, the new GST rebate can be combined with other first-time buyer programs. That matters because the new GST rebate is not a replacement for every other affordability tool. It is one piece of a larger first-time buyer strategy. For eligible buyers, the federal rebate may be used alongside savings programs like the FHSA and the Home Buyers’ Plan, while in British Columbia there may also be property transfer tax exemptions to consider. The key is understanding which programs actually stack, which ones do not, and where buyers can accidentally assume they qualify for more than they do. What the New GST Rebate Actually Does The first thing to understand is that the new federal first-time home buyers’ GST/HST rebate is aimed at eligible new homes, not resale homes. CRA says eligible first-time buyers can receive up to $50,000 back on homes valued up to $1 million, with a phased-out rebate between $1 million and $1.5 million. CRA also states that this rebate may apply in addition to the existing GST/HST new housing rebate, acting as a top-up where both apply. Agreements generally must have been entered into on or after March 20, 2025 and before 2031, with construction substantially completed before 2036. Programs That Can Usually Be Combined With the New GST Rebate First Home Savings Account (FHSA) The FHSA is a savings vehicle, not a rebate on the purchase itself. CRA says it lets eligible first-time buyers save toward a qualifying first home on a tax-advantaged basis, with annual participation room starting at $8,000 in the first year an FHSA is opened. Because it is a savings program and the GST rebate is a tax rebate tied to a qualifying new home purchase, these are generally complementary rather than conflicting. Home Buyers’ Plan (HBP) The Home Buyers’ Plan allows eligible buyers to withdraw up to $60,000 from their RRSPs to buy or build a qualifying home, with repayment over up to 15 years. Like the FHSA, this is a funding tool rather than a housing tax rebate, so it can generally be part of the same purchase strategy as the new GST rebate. Existing GST/HST New Housing Rebate This is the most direct example of stacking. CRA explicitly says an eligible first-time buyer may qualify for the new first-time home buyers’ GST/HST rebate in addition to the existing GST/HST new housing rebate, with the new rebate functioning as a top-up where both apply. One Important Federal Program That Is No Longer Part of the Mix Some older articles still mention the First-Time Home Buyer Incentive through CMHC. That program is no longer accepting applications. CMHC states the deadline for new submissions was March 21, 2024, and no new approvals were granted after March 31, 2024. So while you may still see it referenced online, it is not a practical stacking option for new buyers today. What This Looks Like in British Columbia For buyers in BC, the conversation gets more nuanced because federal GST rules and provincial property transfer tax rules are separate. BC First Time Home Buyers’ Program BC’s first-time home buyers’ property transfer tax program can reduce or eliminate property transfer tax on qualifying purchases if the buyer meets the provincial requirements. The province says a qualifying property generally must be used as the buyer’s principal residence and have a fair market value of $835,000 or less, with partial relief below $860,000. BC Newly Built Home Exemption BC also has a separate newly built home exemption that may reduce or eliminate property transfer tax on qualifying newly built principal residences. The province says newly built homes with a fair market value below $1,100,000 may qualify for a full exemption, with proportional relief available below $1,150,000. The BC Catch In BC, buyers cannot claim both the first-time home buyers’ property transfer tax exemption and the newly built home exemption on the same transaction. That is set out in BC law. In other words, a buyer may be able to combine the federal new GST rebate with a provincial property transfer tax exemption, but they still need to choose the correct BC exemption if more than one provincial option appears available. Where Buyers Get Confused The biggest misunderstanding is assuming every first-time buyer program applies to every first home purchase. That is not how it works. Common mistakes assuming the new GST rebate applies to resale homes when it is tied to qualifying new homes assuming a federal rebate automatically replaces the need to apply for provincial tax exemptions assuming all BC exemptions stack together when some do not relying on outdated articles that still discuss the discontinued First-Time Home Buyer Incentive as though it were active A Practical Way to Think About It For most eligible first-time buyers, the smarter question is not just, “Can I combine programs?” It is, “Which combination actually applies to my purchase?” A buyer purchasing a qualifying new home may be able to combine: the new federal GST rebate the FHSA the Home Buyers’ Plan one applicable BC property transfer tax exemption, depending on eligibility and the property type That can create meaningful savings, but only if the home, the contract timing, the purchase price, and the buyer’s eligibility all line up with the current rules. Final Thoughts Yes, the new GST rebate can often be combined with other first-time buyer programs, but it should not be treated as a blanket savings tool that automatically stacks with everything. Federal savings programs like the FHSA and HBP can often work alongside it, and BC buyers may also have provincial property transfer tax relief to explore. The real value comes from understanding the exact mix that fits your purchase instead of assuming every incentive applies. If you are buying your first home in Greater Victoria or the Westshore and want help understanding how the new GST rebate fits with other available programs, contact Faber Real Estate Group for clear, practical guidance before you write an offer. Yen-Shang W., 5-Star Review, via Google “As a first-time homebuyer, I honestly had no idea what to expect. But Zach walked me through everything with patience and clarity. He took care of all the little things I wouldn’t have thought of and made what could have been a stressful process feel surprisingly smooth and easy. I’m really grateful for his guidance and professionalism—and most of all, for helping me find a place I can now call home. Thank you so much, Zach!” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”