Buyer Resorces

Home equity is the difference between your home’s market value and what you still owe on your mortgage. Understanding home equity is essential for buyers and homeowners because it plays a major role in long-term financial planning and wealth building. Simply put, the more of your home you own outright, the more equity you have. How Home Equity Builds Over Time Home equity typically grows in two ways: Paying down your mortgage with each monthly payment Property value increases over time due to market conditions or improvements For example, if your home is worth $800,000 and your mortgage balance is $500,000, you have $300,000 in home equity. Why Home Equity Matters Home equity provides flexibility and financial leverage. It can be used to: Help fund renovations or upgrades Support future home purchases Assist with major life expenses Increase long-term net worth In markets like Greater Victoria, where home prices have historically trended upward over the long term, equity can become a significant asset. Equity vs. Renting Rent payments build no equity. Once the payment is made, the money is gone. With homeownership, a portion of each mortgage payment contributes to building equity, even during stable or slower markets. This difference is one of the key reasons many buyers choose to purchase when they plan to stay put for several years. How Much Equity Do You Need? There is no universal benchmark, but more equity generally means: Better refinancing options Lower borrowing risk Greater financial security That said, equity takes time to build. It works best as a long-term strategy rather than a short-term gain. Final Thoughts Home equity is not just a number on paper. It represents ownership, stability, and long-term value. Whether you are a first-time buyer or a long-time homeowner, understanding how equity works can help you make more informed real estate decisions in Victoria’s market. If you are curious how much equity you may be able to build, reviewing your options early can make a meaningful difference.   Dom L., 5-Star Review, via Google “After months of searching and giving us their honest advice, we finally bought a place while out of town. We only had a virtual tour of the site, but we felt very comfortable making an offer because they understood what we were looking for. I would recommend going to Faber group as they are knowledgeable, professional and resourceful.” 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.”

James Bay remains one of Victoria’s most desirable waterfront neighbourhoods. In 2026, balanced market conditions have created increased buyer leverage, particularly in the condo segment. For buyers focused on lifestyle, walkability, and long-term value, James Bay real estate continues to present timely opportunities. Condo Opportunities in James Bay Condos dominate the James Bay housing mix, making this neighbourhood especially attractive to downsizers, retirees, and urban-focused buyers. Current conditions favour buyers: Increased condo inventory compared to peak years Reduced competition on well-priced units More room for negotiation on price, terms, and conditions Older buildings with solid strata management often offer the best value, especially for buyers willing to modernize interiors. Waterfront Lifestyle Appeal James Bay’s lifestyle remains its strongest draw. Residents enjoy: Immediate access to the Dallas Road waterfront Walkable proximity to downtown, Beacon Hill Park, and the Inner Harbour A quieter, residential feel compared to other downtown-adjacent areas This combination supports consistent long-term demand, even as short-term market conditions shift. Buyer Leverage in Today’s Market In 2026, James Bay real estate reflects a balanced environment rather than a seller-driven market. What this means for buyers: Longer days on market for condos Fewer multiple-offer scenarios Greater flexibility around possession dates and conditions Well-informed buyers who understand strata documents and building histories can capitalize on this leverage. Who James Bay Works Best For James Bay continues to attract: Downsizers seeking walkability and lower maintenance Retirees prioritizing waterfront access Buyers relocating from higher-priced core neighbourhoods Investors remain selective, but strong rental demand supports long-term holding strategies for well-located units. What Sellers Should Know While pricing remains important, homes that are well-presented and realistically priced continue to sell. Overpriced condos tend to sit longer, reinforcing the importance of accurate market positioning. Final Thoughts James Bay real estate offers a rare blend of waterfront lifestyle and urban convenience. In 2026, condo opportunities and buyer leverage make this neighbourhood especially compelling for purchasers prepared to act strategically.

Secondary suites and laneway homes remain a compelling investment in 2026, offering rental income and long-term value in a balanced market. In a more stable market, these additions offer predictable rental income, zoning advantages, and meaningful resale value across Greater Victoria. Reliable rental income in a balanced market As price growth normalizes, rental income plays a larger role in overall return. Secondary suites and laneway homes provide consistent cash flow that can offset mortgage costs or support long-term holding strategies. Demand remains strongest for well-designed, legal suites close to transit, employment hubs, and schools. Purpose-built laneway homes also appeal to downsizers, professionals, and long-term tenants seeking privacy without condo living. Zoning perks and increased flexibility Recent zoning changes across Victoria, Saanich, and the West Shore have made it easier to add secondary dwellings. Many neighbourhoods now allow suites or garden homes by right, reducing approval timelines and uncertainty. This flexibility supports multi-generational living, aging-in-place options, and future use changes. Buyers value properties that adapt over time rather than relying on a single use. Added value beyond monthly cash flow Homes with legal suites or laneway houses often command higher resale prices, even in balanced conditions. Buyers recognize the built-in income potential and future development options. Appraisers and lenders also tend to view legal secondary dwellings favourably, especially when permits, fire separation, and parking requirements are met. This can strengthen financing options and buyer confidence. What investors should evaluate in 2026 Not all secondary dwellings deliver equal returns. Before purchasing or building, consider lot size, servicing capacity, parking requirements, and neighbourhood rental demand. Construction costs remain a key factor, so long-term planning matters more than short-term yield. In many cases, the combined benefit of rental income, flexibility, and resale value outweighs pure cash flow calculations. Bottom line Secondary suites and laneway home investments remain a practical strategy in Greater Victoria. While rapid appreciation has cooled, these properties continue to offer stability, adaptability, and long-term value in a more balanced market. Maryann G., 5-Star Review, via Google “We recently sold our home through the Faber Real Estate Group. We received excellent service as we navigated our way through the sale of the house. I would recommend Cal and his sons as the realtor for your sale as they are so professional and gave good advice leading to a quick sale.” 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.”

From our experience, the smoothest purchases happen when couples have clear and honest discussions before they ever step into a showing. Understanding each other’s priorities, timelines, and comfort levels with risk helps avoid difficult moments later in the process. We often see challenges arise when expectations are not aligned early on. Taking time to talk through lifestyle goals and future plans creates clarity and confidence when it is time to make decisions. Know How Lenders See You Many couples are surprised by how financing works when buying together. Lenders look at combined income, credit history, existing debts, and employment stability. One stronger credit profile can help, but one weaker profile can also affect borrowing power. From a realtor’s standpoint, buyers who secure a solid pre approval before shopping are always in a stronger position, both financially and strategically. Compromise Is Part of the Process Every couple enters the market with different priorities. One person may value location while the other wants space or specific features. We see the most success when couples clearly define their must haves versus nice to haves. Understanding where you can be flexible helps move quickly when the right property comes along, especially in competitive neighbourhoods. Think About Resale From Day One Even if a home feels like a long term purchase, resale value always matters. As realtors, we look at homes through the lens of future buyers as well as current lifestyle. Location, layout, condition, and neighbourhood appeal all influence how easily a home will sell down the road. Choosing a property with broad market appeal protects your investment and keeps options open. Understand Ownership and Protection How a property is registered is often overlooked. Joint tenancy and tenancy in common affect what happens if circumstances change. We regularly recommend couples speak with a legal professional to ensure ownership aligns with their situation and contributions. Clarity here provides peace of mind and avoids complications later. Lean on Professional Guidance Buying property together is exciting, but it can also feel overwhelming. From a realtor’s perspective, the couples who enjoy the process most are those who ask questions, seek advice, and stay informed at every stage. When couples approach the purchase as a team and work closely with experienced professionals, they are more likely to find a home that supports both their relationship and their long term goals.   Lindsay R., 5-Star Review, via Google “Scott has been an awesome help finding my condo. He always knew my needs and gave me the right advise every step of the way. Would 10/10 recommend !” 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.”

For many buyers entering the market in 2026, the first-time buyer West Shore market continues to stand out. Langford and Colwood offer more attainable price points than many core Victoria neighbourhoods, while still providing strong amenities, transit access, and long-term growth potential. These communities attract first-time buyers who want value without sacrificing lifestyle or resale prospects. Langford: Entry-Level Options With Urban Convenience Langford remains one of the most accessible markets for first-time buyers on the South Island. What buyers can expect: Condominiums and newer townhomes often priced below comparable properties in Victoria proper Walkable pockets near Westshore Town Centre, Belmont Market, and major employers Consistent new construction, which helps maintain supply and choice For a first-time buyer West Shore strategy, Langford offers flexibility. Buyers can often choose between established resale condos or newer builds with modern layouts and warranties. Colwood: Stability, Community, and Long-Term Value Colwood tends to appeal to buyers who prioritize neighbourhood feel and long-term ownership. Key advantages include: Townhomes and older single-family homes that remain more attainable than core Victoria Proximity to schools, parks, and the Esquimalt Lagoon Slower turnover, which supports stable values over time While inventory can be tighter than Langford, Colwood rewards patience, especially for buyers seeking more space at an entry-level price point. Typical Affordable Entry Points in 2026 While market conditions continue to shift, first-time buyers in the West Shore commonly focus on: One- and two-bedroom condos Stacked or traditional townhomes Older single-family homes requiring cosmetic updates Understanding strata fees, future maintenance costs, and neighbourhood development plans is essential when evaluating affordability. Key Tips for First-Time Buyers Get pre-approved early to move quickly when the right property appears Compare total monthly costs, not just purchase price Consider resale potential alongside affordability A thoughtful approach helps first-time buyers balance short-term budget comfort with long-term equity growth. Final Thoughts For buyers entering the market in 2026, the first-time buyer West Shore opportunity remains strong. Langford offers choice and convenience, while Colwood provides community and stability. With the right guidance and preparation, both areas can serve as smart entry points into Greater Victoria real estate.   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.”

The Tillicum and Gorge area continues to attract buyers looking for affordability without sacrificing location. In 2026, balanced market conditions have increased buyer choice, making this area especially appealing for first-time buyers, downsizers, and value-focused investors. Tillicum and Gorge real estate benefits from strong transit links, central positioning, and pricing that remains more attainable than many core Victoria neighbourhoods. Why Buyers Look to Tillicum and Gorge This area sits just minutes from downtown Victoria, Uptown, and the Trans-Canada Highway. Key advantages include: Easy access to major employment hubs Strong public transit and cycling routes Proximity to parks, the Gorge Waterway, and shopping For buyers who want convenience without downtown pricing, the location remains a major draw. Affordability Compared to Core Neighbourhoods Tillicum and Gorge continue to offer some of the most accessible price points within the urban core. Buyers typically find: Condos priced below downtown and Fairfield averages Townhomes that appeal to first-time buyers Older single-family homes with renovation potential In 2026, longer days on market have improved negotiating conditions, particularly for condos. Condo Market and Entry-Level Options The condo segment dominates much of the housing stock. Many buildings offer: Larger floor plans compared to newer developments More reasonable strata fees Strong rental appeal due to central location For buyers entering the market, Tillicum and Gorge real estate often provides a practical first step into ownership. Accessibility and Daily Convenience Accessibility remains one of the area’s strongest features. Residents benefit from: Direct transit routes to downtown and UVic Walkable access to Tillicum Centre and Uptown Quick connections to the West Shore and Peninsula This connectivity supports both owner-occupiers and long-term rental demand. What Buyers Should Watch in 2026 While affordability remains a strength, buyers should still review: Strata documentation and contingency funds Upcoming maintenance in older buildings Zoning and redevelopment potential along key corridors Well-priced properties continue to sell, while overpriced listings often sit longer. Final Thoughts Tillicum and Gorge real estate offers a compelling mix of affordability and accessibility in 2026. For buyers who value central location, transit access, and realistic pricing, this area remains one of Greater Victoria’s most practical options. Gary B., 5-Star Review, via Google “We bought a apartment and sold an apartment through Faber Group. It was a pleasure working with them, sold our apartment in one day at full price. No request was too much for them.” 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.”

Finding the right tenants is one of the most important factors in protecting your investment property. Strong tenants reduce turnover, limit maintenance issues, and support consistent cash flow. In today’s competitive rental market, careful screening matters more than speed. This guide outlines how to find the right tenants while staying compliant with BC rental regulations. Start With Clear Rental Criteria Before advertising, define what a strong tenant looks like for your property. Consider: Target rent range and income requirements Maximum occupancy based on layout and bylaws Pet policies and strata restrictions Lease length and move-in timing Clear criteria help you filter applicants objectively and consistently. Price the Property Correctly Pricing attracts the type of tenant you want. Overpricing can lead to longer vacancies, while underpricing may increase turnover. Review comparable rentals in your area and adjust for: Location and walkability Parking, storage, and in-suite laundry Utilities included Accurate pricing helps you find the right tenants without unnecessary delays. Write a Strong Listing Description Your listing should set expectations clearly. Include: Lease terms and included utilities Building rules and strata bylaws Required documentation for applications This approach discourages unsuitable applicants and saves time during screening. Screen Tenants Thoroughly Tenant screening is where many landlords take shortcuts. Avoid that mistake. Best practices include: Employment and income verification Credit checks, where permitted Previous landlord references Consistent application questions for all applicants In BC, screening must follow Residential Tenancy Act guidelines and human rights legislation. Meet Tenants in Person Whenever possible, meet prospective tenants. This step helps confirm compatibility and allows you to explain expectations clearly. Discuss: Maintenance responsibilities Rent payment methods and timelines Communication preferences Clear communication at the start reduces misunderstandings later. Use a Proper Lease Agreement Always use a written lease that complies with BC regulations. Ensure it includes: Rent amount and due date Length of tenancy Rules regarding pets, smoking, and subletting A clear lease protects both parties and reinforces professionalism. Consider Professional Property Management If you prefer a hands-off approach, a licensed property manager can help you find the right tenants and manage compliance, especially for multiple properties or out-of-town owners. Final Thoughts Learning how to find the right tenants is essential for long-term investment success. Careful pricing, consistent screening, and clear communication reduce risk and improve returns. Leanne D, 5-Star Review, via Google “I would highly recommend the Faber Group this is the second time we have used them and have been over the top happy with their service. They are an honest group of men who all go above and beyond to make your experience perfect!” 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.”  

For many buyers entering the market in 2026, the first-time buyer West Shore market continues to stand out. Langford and Colwood offer more attainable price points than many core Victoria neighbourhoods, while still providing strong amenities, transit access, and long-term growth potential. These communities attract first-time buyers who want value without sacrificing lifestyle or resale prospects. Langford: Entry-Level Options With Urban Convenience Langford remains one of the most accessible markets for first-time buyers on the South Island. What buyers can expect: Condominiums and newer townhomes often priced below comparable properties in Victoria proper Walkable pockets near Westshore Town Centre, Belmont Market, and major employers Consistent new construction, which helps maintain supply and choice For a first-time buyer West Shore strategy, Langford offers flexibility. Buyers can often choose between established resale condos or newer builds with modern layouts and warranties. Colwood: Stability, Community, and Long-Term Value Colwood tends to appeal to buyers who prioritize neighbourhood feel and long-term ownership. Key advantages include: Townhomes and older single-family homes that remain more attainable than core Victoria Proximity to schools, parks, and the Esquimalt Lagoon Slower turnover, which supports stable values over time While inventory can be tighter than Langford, Colwood rewards patience, especially for buyers seeking more space at an entry-level price point. Typical Affordable Entry Points in 2026 While market conditions continue to shift, first-time buyers in the West Shore commonly focus on: One- and two-bedroom condos Stacked or traditional townhomes Older single-family homes requiring cosmetic updates Understanding strata fees, future maintenance costs, and neighbourhood development plans is essential when evaluating affordability. Key Tips for First-Time Buyers Get pre-approved early to move quickly when the right property appears Compare total monthly costs, not just purchase price Consider resale potential alongside affordability A thoughtful approach helps first-time buyers balance short-term budget comfort with long-term equity growth. Final Thoughts For buyers entering the market in 2026, the first-time buyer West Shore opportunity remains strong. Langford offers choice and convenience, while Colwood provides community and stability. With the right guidance and preparation, both areas can serve as smart entry points into Greater Victoria real estate. Lauren A., 5-Star Review, via Google "Excellent and professional real estate service!I referred Scott Faber to my father to sell his house. The process went smoothly, and sold in a very short time frame - OVER the asking price! Highly recommend!" 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 Victoria's balanced 2026 real estate market, secondary suites offer a smart way to increase property value and attract buyers. These self-contained units provide steady rental income and extra appeal during steady times. Victoria's Housing Market Today The Victoria Real Estate Board reports that 2025 ended with stable sales and pricing. Single-family home values softened slightly in the core while the Westshore saw modest gains. Condo values stayed flat. Higher inventory in 2026 gives buyers more choice and keeps the market balanced with cautious optimism. Strong Rental Income Potential Rental demand remains solid for secondary suites in Victoria for 2026. Greater Victoria's vacancy rate reached 3.3% by late 2025 - the highest in over 25 years - yet demand continues from students, young professionals, and others. One-bedroom secondary suites typically rent for $1,500-$2,000 per month. Two-bedroom suites often reach $2,000-$2,500. This income helps cover mortgage payments, taxes, or utilities and makes ownership more affordable. Added Buyer Appeal Properties with legal secondary suites attract more interest. Buyers value them as: Mortgage helpers that ease financing Flexible space for multi-generational living or home offices Future rental or short-term rental options These features help homes sell faster and often at higher prices, especially when inventory rises. Provincial Support and Regulations British Columbia continues to encourage gentle density. Secondary suites remain allowed province-wide in single-family zones. Local governments must update bylaws by June 30, 2026 under recent legislation. Always verify that any suite meets city rules for size, separate entrance, egress, and parking. Final Thoughts In balanced market conditions, secondary suites deliver reliable income and long-term value. They stand out as a top feature for homeowners, buyers, and investors. If you are searching in Victoria feel free to reach out to our team for the latest listings and guidance. Secondary suites remain one of the strongest choices for smarter homeownership in 2026.   Brandon S., 5-Star Review, via Google “My wife and I sold our condo in View Royal and bought a place in Esquimalt with the help of The Faber Group. Scott helped us to find and buy the perfect home for our growing family in a very competitive market. He got to know our wants and needs and worked within our schedule with a small baby. Once we found the perfect place Scott helped us to get it for under the asking price and sold our condo in one day on the market with multiple offers over asking! We are so grateful that Scott helped us through this process, answering our many questions and alleviating our concerns. Thank you for helping us sell our first home and buy a beautiful house for our family.” 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.”

Housing demand around the University of Victoria continues to grow, and new projects are reshaping how students, renters, and homeowners live near campus. Several existing and planned developments near UVic aim to increase housing supply, improve walkability, and support long-term community growth. On-Campus Housing Expansion at UVic UVic has prioritized adding more on-campus housing to address student demand. Recent residence projects have focused on higher-density buildings with modern amenities and strong sustainability standards. These residences help reduce pressure on nearby rental markets by keeping more students on campus. Looking ahead, UVic has announced plans for an additional large-scale student housing project that will add hundreds of new beds for upper-year and graduate students. This future development near UVic is designed to maximize land use while supporting transit access and campus services. University District and Long-Term Planning UVic is also planning a broader mixed-use area known as the University District. This long-term vision includes housing, commercial space, and community amenities on university-owned land near Gordon Head Road. While still in planning stages, this project signals a shift toward a more integrated campus-adjacent neighbourhood. Once complete, the University District could play a major role in expanding housing options near UVic while supporting local businesses and services. Off-Campus Developments Near UVic Several nearby developments are already changing the surrounding neighbourhoods: New rental and condo projects along Shelbourne Street and McKenzie Avenue are increasing density near key transit routes. Purpose-built rental buildings near UVic are providing alternatives to older secondary suites and student rentals. Affordable housing projects led by non-profit and public housing providers are helping diversify the local housing mix. These developments near UVic appeal not only to students but also to professionals, downsizers, and investors seeking proximity to the university and amenities. What This Means for Buyers and Renters As developments near UVic continue, buyers and renters can expect more housing choice over time. Condos and purpose-built rentals may improve affordability compared to older, high-demand rental stock. At the same time, increased density may bring changes to traffic, parking, and neighbourhood character. Checking zoning, development applications, and school catchments early remains important when considering property near the university. Final Thoughts Existing and upcoming developments near UVic reflect a broader push to address housing demand while supporting a growing academic community. For students, homeowners, and investors, these projects signal continued growth and long-term change in one of Victoria’s most sought-after areas. Leanne D, 5-Star Review, via Google “I would highly recommend the Faber Group this is the second time we have used them and have been over the top happy with their service. They are an honest group of men who all go above and beyond to make your experience perfect!” 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.”