Market Trends and Insights

The spring market in Victoria, BC is now taking shape, and this year it looks more balanced, more selective, and less rushed than the fast-moving markets many people still remember. March 2026 sales in the Victoria Real Estate Board region rose to 579 properties, up 24.5 per cent from February, while active listings climbed to 3,261. VREB described this as a fairly typical spring pattern that usually builds toward May or June. More Listings Means More Choice One of the clearest themes this spring is inventory. Buyers are seeing more options than they did in many recent spring markets, and that changes the tone of the market. At the end of March 2026, active listings were up 12.3 per cent from February and 7.9 per cent from March 2025. That matters because more selection usually gives buyers more time to compare properties, review documents carefully, and make decisions with less pressure. This trend was already building in February. VREB reported 2,903 active listings at the end of that month, up 10.6 per cent from January and 10.4 per cent from the year before. In other words, spring did not suddenly appear in March. It has been building in stages, with supply steadily improving as more sellers prepare to list. Buyers Should Expect Better Conditions Than Recent Years For buyers, this spring should feel more manageable than the highly competitive conditions of past years. VREB noted that current conditions are creating fewer high-pressure transactions and allowing more time for due diligence. That does not mean every home will sit or every seller will negotiate heavily. Well-priced homes in strong locations can still move quickly. It does mean buyers have a better chance to compare options and make decisions with a plan rather than panic. That fits the broader provincial picture as well. BCREA says inventory across BC is running near its highest level in more than a decade, and it expects markets to remain broadly balanced in 2026, with price growth tempered by higher supply. Sellers Should Expect More Competition For sellers, the spring market still offers opportunity, but not in the same way it did in ultra-tight markets. More listings mean more competition. Buyers have more homes to compare, so pricing, presentation, and strategy matter more. A property that is well prepared and priced in line with today’s market can still attract strong attention. A property that is overpriced or poorly presented may sit longer than expected. This is where many sellers can get caught off guard. Spring brings more buyer activity, but it also brings more competing listings. More activity does not automatically mean more leverage for every seller. In a balanced market, the homes that stand out usually do so because the strategy behind them is stronger, not because the season alone carries them. This matches the current reality that VREB describes as offering opportunities for both buyers and sellers rather than strongly favouring one side. Prices Are Showing Stability More Than Acceleration If you are wondering whether spring 2026 will bring a sharp jump in prices, the current data suggests a steadier pattern. In the Victoria Core, the MLS HPI benchmark for a single-family home was $1,330,200 in March 2026, down 1.1 per cent from March 2025 but up from February 2026. The benchmark for a condo was $553,800, down 0.8 per cent year over year and also up month over month. That tells an important story. Prices are not showing the kind of fast upward pressure that buyers feared in past spring markets, but they are also not collapsing. Instead, we are seeing a market where values are relatively stable, with modest month-to-month improvement as spring demand builds. What This Means for Buyers If you are buying this spring, expect more choice, more time to think, and more room to be strategic. That said, do not confuse a more balanced market with an easy market. Good homes can still attract competition, especially if they are priced well and show well. The advantage for buyers this year is not unlimited negotiating power. It is the ability to be more deliberate. A smart buyer strategy this spring is to get clear on your budget, target neighbourhoods, and must-haves before the right property appears. When the right fit does come up, preparation still matters. The buyers who do best in a balanced spring market are often the ones who are patient first and decisive second. What This Means for Sellers If you are selling this spring, expect buyers to notice value gaps more quickly. They have more listings to compare, and that makes strong pricing and strong presentation more important. Spring can still be an excellent time to list, but it is no longer enough to rely on seasonal momentum alone. Sellers who are realistic from the start often put themselves in a stronger position than those who test the market too high and hope conditions will do the work for them. In this market, preparation, marketing quality, and pricing discipline are what create leverage. The Bottom Line on This Year’s Spring Market The spring market in Victoria, BC looks active, but measured. Sales are rising seasonally, inventory is improving, and the market is giving both buyers and sellers room to make better decisions. That is a healthier environment than the rushed conditions many people associate with spring real estate. It also means strategy matters more than ever. If you are planning to buy or sell this spring, the best next step is not to guess where the market is going. It is to understand how your specific property type, price point, and area fit into today’s conditions. If you want help building the right plan for this spring market, contact Faber Real Estate Group for advice tailored to your move. 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 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.”  

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.”

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.”

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.”

Transit changes how people move, but it also changes how neighbourhoods are valued. Buying near transit expansion can be a smart long-term play, and buying near transit expansion can also create risks that are easy to underestimate when buyers focus only on future convenience. The real question is not whether transit is good or bad. It is whether the specific property, location, and timeline make sense for your goals. For some buyers, proximity to future transit means stronger resale potential, easier commuting, and better long-term appeal. For others, it can mean years of construction, more traffic, more density, and a property that feels less private than expected. That is why this decision needs more than optimism. It needs context. Why Transit Expansion Attracts Buyers New or improved transit often signals public investment. That matters because infrastructure tends to reshape buyer behaviour over time. What buyers often like Improved convenienceEasier commuting can make a home more practical for work, school, and daily errands. Broader resale appealHomes near reliable transit often attract a wider buyer pool, especially first-time buyers, downsizers, and households trying to reduce car dependence. Neighbourhood investmentTransit upgrades can bring new retail, public improvements, and more attention to surrounding areas. Potential long-term upsideIf a neighbourhood becomes more connected and more desirable, property values may benefit over time. This is why some buyers actively target areas just outside already-established transit hubs. They are trying to buy before the convenience is fully priced in. Where the Opportunity Can Be Real Buying near planned transit is often most attractive when the area is still in transition but already has strong fundamentals. Signs the opportunity may be stronger The neighbourhood already has schools, shopping, parks, and services Demand exists even without the transit upgrade The property has solid livability today, not just future promise The transit plan is funded and moving forward, not just conceptual Zoning changes may support more housing, amenities, or mixed-use growth nearby A good transit story should be a bonus, not the entire reason a property makes sense. Where the Risk Starts to Show Transit expansion sounds positive in marketing language, but the lived experience can be more complicated. Risks buyers should think through Construction disruptionLarge infrastructure projects can bring noise, dust, detours, and delays for months or years. Uncertain timelinesA planned improvement may take far longer than expected. Buyers who stretch financially based on future convenience can end up disappointed. More density nearbyTransit investment often supports denser development. That can help values, but it can also change the character of a street faster than some owners expect. Noise and privacy concernsBeing near transit is not the same as being on top of it. Properties too close to busy corridors may face ongoing noise, lighting, or activity concerns. Pricing ahead of realitySome homes are marketed as though the benefit is already fully delivered. Buyers can end up paying tomorrow’s premium today. This is where many mistakes happen. Buyers hear “up-and-coming” and assume guaranteed appreciation. Real estate rarely works that neatly. Distance Matters More Than People Think Not every home near transit benefits equally. In many cases, the sweet spot is not the property closest to the line, station, or corridor. The better question to ask Instead of asking, “Is it near transit?” ask: Is it walkable to transit without being directly exposed to the drawbacks? Is the route safe, practical, and appealing year-round? Will the property still feel comfortable if service frequency increases and the area gets busier? Does the location work for your lifestyle even if the expansion is delayed? Often, a home that is a short walk away performs better than one directly beside a major stop or corridor. Buyers and Investors See Transit Differently Your goal should shape how you evaluate the opportunity. If you are buying to live there Focus on: daily convenience noise levels traffic patterns future neighbourhood character whether the home still feels right beyond the investment story If you are buying as an investment Focus on: tenant demand walkability future redevelopment potential holding costs during the transition period whether purchase price already reflects the expected upside A property can be a smart investment and still be the wrong home for an owner-occupier. The reverse is also true. Questions Buyers Should Ask Before Writing an Offer Transit expansion should push buyers to do deeper due diligence, not less. Smart questions to investigate What exactly is being built, improved, or proposed? Is the project funded and approved? What is the expected timeline? Will nearby road patterns, parking, or access change? Is rezoning expected around the corridor or station? How close is the property to the actual source of noise or activity? How has the seller priced the home relative to current conditions, not future speculation? These questions help separate genuine opportunity from optimistic storytelling. A Better Way to Think About It Buying near transit expansion is rarely a simple yes or no. It is more like a trade-off analysis. It may be an opportunity when you are buying in a location with strong fundamentals the property works for you today the transit improvement is credible and funded the price does not overstate the future upside you are positioned to hold long enough to benefit It may be a risk when the value depends heavily on a project that is still uncertain the property is too close to the negative impacts you dislike density, traffic, or neighbourhood change you are stretching your budget based on future assumptions the resale story sounds stronger than the day-to-day livability Final Thoughts Transit expansion can improve convenience, support neighbourhood growth, and create meaningful long-term value. But not every property near a transit corridor is automatically a smart buy. The strongest purchases usually come from balancing infrastructure upside with real-world livability, pricing discipline, and a clear plan for how long you intend to own. If you are weighing the pros and cons of buying near transit expansion in Greater Victoria or the Westshore, contact Faber Real Estate Group for clear advice on which locations offer real opportunity and which ones may carry more risk than reward. Raymond S., 5-Star Review, via Google “Cal and his team at the Faber Real Estate Group went above and beyond in helping us to find a home that would meet our criteria. We always felt as though we were their most important clients. Cal and Scott's negotiating skills helped us to stay within our budget and still fulfill all of our requirements. Besides the teams professionalism and knowledge, we also appreciated their honesty and high standards regarding moral values. Cal and the team helped make buying a home a pleasant experience.” 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.”

Setting the right price has always mattered, but the cost of overpricing your home in Victoria BC is higher in a market where buyers have more choice and more time to compare options. In February 2026, the Victoria Real Estate Board reported 2,903 active listings, up 10.4 per cent from a year earlier, while sales were down 11.9 per cent year over year. VREB also described the market as balanced after sitting near the threshold of a buyer’s market. That matters because balanced markets are less forgiving of aspirational pricing. Buyers do not need to rush into a listing that feels overpriced when there are other homes to consider. Why overpricing hurts more now When inventory rises, buyers become more selective. They compare value faster, watch price history more closely, and often skip listings that seem out of line with recent comparable sales. VREB’s February 2026 numbers show prices in the Victoria Core have been relatively steady rather than surging, with the benchmark single-family home at $1,307,400, down 0.9 per cent year over year, and the benchmark condo at $545,600, down 0.7 per cent. In a steady market, overpricing is less likely to be rescued by fast appreciation. The first few days of a listing matter the most. That is when your property is fresh, buyer alerts are strongest, and interest is easiest to convert into showings and offers. If the price causes hesitation at launch, the listing can lose momentum before it has a real chance to compete. What sellers usually do not see right away Overpricing rarely fails all at once. It usually shows up in stages: Fewer showings than expected Buyers saving the listing but not booking appointments Feedback that the home is nice, but feels high for the area Competing listings selling while yours sits Pressure to reduce later, after the home has lost its freshness That is the hidden cost. The issue is not only extra time on market. It is also the shift in perception. Once a home lingers, buyers start asking what is wrong with it, even when the real problem is simply price. A longer time on market can weaken your leverage Many sellers assume starting high gives them room to negotiate. In practice, it often does the opposite. A well-priced home can create stronger early interest and sometimes competition. An overpriced home can lead to low urgency, smaller buyer pools, and offers that come in below where the seller likely could have landed with a sharper launch strategy. BCFSA also encourages sellers to understand the proposed market value and pricing strategy before signing a listing contract. That is a useful reminder: pricing is not just a number. It is part of the full marketing plan. The emotional cost is real too Overpricing does not just affect statistics. It affects decision-making. When a home sits longer than expected, sellers often feel one of three things: Frustration because activity is lower than promised Doubt about the home, the market, or the strategy Pressure to make reactive decisions instead of measured ones That is when small adjustments turn into larger corrections. Price drops made too late can attract bargain hunters instead of the strongest early buyers. What smarter pricing looks like Smart pricing is not about being the cheapest option. It is about being the best-positioned option for the buyers most likely to act. A stronger pricing strategy usually includes: Recent comparable sales, not just current competition Adjustments for condition, location, layout, and updates An honest view of buyer demand in your segment A launch price designed to generate interest, not test the market In a balanced market, the goal is not to “leave room.” The goal is to create confidence. The bottom line The cost of overpricing your home in Victoria BC is usually not measured only in dollars off the list price. It also shows up in lost momentum, fewer showings, weaker leverage, and more stressful decisions later in the process. In today’s market, accurate pricing is not conservative. It is strategic. If you want a pricing strategy built around current Victoria market conditions, buyer behaviour, and your home’s real position in the market, contact Faber Real Estate Group for advice before you list. Sue S., 5-Star Review, via Google “I was so impressed with Cal and Scott, a father and son team. They make you feel so cared for. They went out of their way to help get my moms house ready to sell. It was hard to let the family home go but Cal and Scott helped to make the process go smooth. They sold my mom's house in 2 days for over the listing price. 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 new GST rebate for first-time home buyers creates a real opening for buyers who were close to qualifying but still struggling with the extra cost of buying brand-new construction. The new GST rebate for first-time home buyers eliminates the GST on qualifying new homes up to $1 million, reduces it on qualifying new homes between $1 million and $1.5 million, and can save eligible buyers up to $50,000. The measure is now law, and the CRA has opened applications. For many buyers, the value is not just the rebate itself. The bigger opportunity is what the rebate changes in your timing, your budget, and your ability to buy new with more confidence. What the New GST Rebate Actually Does The rebate applies to eligible first-time buyers purchasing a newly built or substantially renovated home that will be used as their primary residence. Homes priced at or below $1 million can qualify for up to a full rebate of the GST, up to a maximum of $50,000. Homes priced between $1 million and $1.5 million receive a reduced rebate, and homes at or above $1.5 million do not qualify. CRA guidance includes an example showing a $1.25 million home qualifying for a $25,000 rebate. That matters because many buyers tend to think of GST as a fixed cost they simply have to absorb. In this case, it may no longer be a deal-breaker if you are eligible. Who May Qualify Generally, the CRA says a qualifying first-time buyer must meet all of the following: Be at least 18 years old Be a Canadian citizen or permanent resident Not have lived in a home they owned, or that their spouse or common-law partner owned, as a primary residence in the calendar year of taking ownership or in the previous four calendar years Be buying the home as a primary place of residence Be the first individual to occupy the home after construction or substantial renovation is completed Not have previously received this FTHB GST/HST rebate, and neither can their spouse or common-law partner This is an important distinction. Some buyers hear “first-time” and assume it only means “never bought a home before.” The CRA test is more specific than that. In some cases, someone who owned in the past may qualify again if enough time has passed and the occupancy rules are met. Timing Matters More Than Most Buyers Realize The rebate generally applies if the agreement of purchase and sale with the builder was entered into on or after March 20, 2025 and before 2031. For homes purchased from a builder, construction must begin before 2031, be substantially completed before 2036, and ownership must transfer before 2036. CRA also notes that applications are open, although it is still updating systems for certain purchase agreements signed between March 20, 2025 and May 26, 2025. In practice, that means buyers should not just ask, “Do I like the home?” They should also ask: Does my contract date fit the program window? Will this home be my primary residence? Am I clearly eligible under the CRA definition? Is the builder project timeline aligned with the completion rules? A good purchase is not only about the unit. It is also about whether the structure of the deal lets you capture the savings. How to Take Advantage of It in Real Life 1. Confirm whether you actually meet the first-time buyer test Do this before you fall in love with a unit. The four-calendar-year lookback is where some buyers get caught. If you or your spouse lived in a home you owned too recently, the rebate may not apply. This is one of the first filters to check. 2. Focus on qualifying new construction, not resale This rebate is aimed at eligible buyers purchasing a newly built or substantially renovated home, or in some cases building their own. It is not a blanket rebate for all homes on the market. That means your search strategy may need to shift. If you were comparing resale condos and pre-completion or near-completion new condos as if they were equal, this rebate may change the math. 3. Rework your budget based on net cost, not sticker price A lot of buyers shop by headline price. That can be a mistake. A better question is: what is my effective cost after the rebate, strata fees, closing costs, and financing are all considered? The rebate will not solve affordability on its own, but it can materially improve your position. That may mean: A smaller cash requirement Better flexibility for closing costs A lower all-in purchase cost The ability to consider a better-located or better-finished home than you originally thought possible 4. Review the builder contract carefully The rebate is generous, but it is still rule-based. You want to understand: Whether GST is included or added to the purchase price What the builder expects from you for rebate documentation Whether any assignment, occupancy, or title timing affects your eligibility What your estimated closing statement looks like with and without the rebate This is where good representation matters. It is easy to focus on the floorplan and forget the contract language that controls the outcome. 5. Use the rebate to improve your long-term position, not just to stretch higher The temptation will be to use every dollar of savings to chase a more expensive home. Sometimes that makes sense. Often, the smarter move is to use the savings more strategically: Keep a stronger emergency fund after closing Reduce financing pressure Furnish the home without leaning on high-interest debt Leave room for future life changes rather than buying at your absolute ceiling Affordability is not just about getting approved. It is about still feeling stable six months after move-in. Why Pavilion Langford Is Worth Watching For buyers in Greater Victoria and the Westshore, Pavilion Langford is one example of where this new rebate may have practical value. Pavilion is a 60-unit condominium development in Langford’s Cultural District, with homes currently starting at $364,900. The project highlights modern, sustainable design features, secure underground parking, rooftop solar panels, EV charging, premium insulation, Energy Star appliances, and a projected late spring 2026 completion timeline. That starting price matters because it puts Pavilion into a range that may be especially relevant for eligible first-time buyers looking at brand-new construction rather than resale. It is also worth noting that Pavilion is positioned close to shops, dining, markets, and other Westshore amenities, which can make it attractive for buyers who want convenience along with newer construction standards. For project details, floorplans, finishes, and updates, Pavilion’s website is the best source for current development-specific information. A Simple Example of Why This Matters Imagine a buyer who had written off new construction because GST made the total feel too high. Before this change, that buyer may have looked only at resale inventory, even if the resale options meant older systems, less energy efficiency, more future maintenance, and less functional layouts. Now, if they qualify, the rebate may narrow the gap enough that a new condo becomes a more realistic option. That does not mean new construction is automatically the better buy. It means the comparison deserves to be revisited with fresh numbers. That is where market strategy becomes more important than assumptions. Mistakes to Avoid Assuming all first-time buyers automatically qualify Eligibility is specific. Age, residency, prior ownership history, occupancy, and timing all matter. Confusing announcement dates with eligibility dates The law received Royal Assent on March 12, 2026, but the agreement timing rules generally reach back to purchase agreements entered into on or after March 20, 2025. Ignoring primary residence requirements This is designed for a home you intend to live in as your primary residence, not a casual investment play. Shopping only by monthly payment Monthly payment matters, but it should not replace a full closing-cost and contract review. Relying on general summaries instead of property-specific advice A rebate can improve the picture, but the right decision still depends on the building, the contract, the strata, the neighbourhood, and your longer-term goals. Final Thought The smartest way to use this rebate is not to treat it like a headline. Treat it like a planning tool. For some buyers, it will make brand-new construction possible sooner. For others, it will improve the quality of what they can buy without forcing them to overextend. Either way, the opportunity is strongest when you verify eligibility early, compare true net costs, and target projects that fit both the rules and your lifestyle. If you want help comparing qualifying new-construction options, including Pavilion Langford, and figuring out whether this rebate could strengthen your buying strategy, contact Faber Real Estate Group for tailored guidance. Darcie R., 5-Star Review, via Google “We had the best experience with Scott and the Faber Group team helping us buy our first house! From start to finish it was a positive experience, & Scott went the extra mile every chance he could. Based on our search parameters, we didn’t even come across this house, but using his expertise, he was able to find us our dream home that matched all of our criteria! We are so beyond happy and would absolutely recommend reaching out to Scott if you are looking to buy an amazing 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.”