Posts Tagged ‘Faber Real Estate Group’

Trying to compete as a buyer without overpaying can feel difficult, especially when a well-presented home attracts fast attention. But in Greater Victoria right now, buyers are not operating in the same kind of extreme panic market seen in past years. The Victoria Real Estate Board reported 579 sales in March 2026 and 3,261 active listings at month end, with active listings up 12.3 per cent from February and 7.9 per cent from March 2025. VREB described current conditions as offering plentiful opportunity for both buyers and sellers, with fewer high-pressure transactions and more time for due diligence. That matters because it gives buyers more room to think, compare, and negotiate. That is the first mindset shift: being competitive does not mean being reckless. In a market with healthier supply and more balanced conditions, the strongest buyers are usually the ones who are prepared, clear, and disciplined. Start by Understanding What “Overpaying” Actually Means A lot of buyers think overpaying means offering above asking price. That is not always true. Sometimes a buyer offers over asking and still makes a sound decision because: the asking price was intentionally low the property is rare for the area recent comparable sales support the number the home solves a long-term need better than alternatives On the other hand, a buyer can also overpay below asking if the property was overpriced to begin with. The real question is not, “Am I over list price?” It is, “Am I paying more than this home is worth to me and more than the market reasonably supports?” Preparation Is What Makes Buyers Competitive The strongest buyers usually win before the offer is written. That means having: mortgage approval in place down payment fully organized deposit funds ready a lawyer or notary identified a clear maximum purchase range a short list of non-negotiables versus preferences This matters because speed without preparation often leads to emotional decisions. Speed with preparation creates confidence. There is also a financing reason to be disciplined. The Bank of Canada held its policy rate at 2.25 per cent on March 18, 2026, maintaining improved borrowing conditions compared with peak-rate periods, but affordability still needs to be tested against your real monthly comfort zone, not just the maximum a lender will approve. Focus on Value, Not Hype In a competitive situation, buyers can get distracted by presentation, staging, or the fear that someone else will grab the home first. A better approach is to evaluate each property through three lenses: 1. Market value What do recent comparable sales suggest? 2. Personal value How well does the home fit your actual lifestyle, location needs, and long-term plans? 3. Risk value What repairs, strata issues, layout compromises, or resale limitations could affect the decision later? A home that scores well in all three categories is usually worth competing for. A home that only wins on emotion is where buyers often drift into overpaying. Strong Offer Structure Beats Blind Aggression Many buyers assume the strongest offer is simply the highest price. In reality, sellers usually look at the full package. A competitive offer can be strengthened by: a clean deposit structure fewer unnecessary complications flexible dates that suit the seller strong financing preparation concise and professional paperwork confidence in decision-making before the offer goes in That means you do not always need to win with price alone. Sometimes the better move is to make your offer easier to accept rather than just more expensive. Do Your Due Diligence Before the Pressure Peaks One of the best ways to avoid overpaying is to do as much homework as possible before offer night. That may include: reviewing comparable sales reading strata documents early, where applicable checking zoning or future land-use factors understanding insurability or financing concerns identifying major maintenance items in advance The buyer who learns these things early is much less likely to make a panic offer later. This is especially important in a market like Greater Victoria today, where buyers have more inventory to choose from. VREB reported 3,261 active listings at the end of March 2026, while the Victoria Core single-family benchmark rose to $1,330,200 from $1,307,400 in February, though it remained 1.1 per cent below March 2025. That points to a market with some spring momentum, but not runaway pricing. The Victoria Core condominium benchmark was $553,800 in March 2026, up from $545,600 in February and down 0.8 per cent year over year. Set a Walk-Away Number Before You Fall in Love This is one of the most important rules. Before you write, decide: your ideal number your competitive number your absolute walk-away number Then stick to it. Why? Because buyers rarely make poor decisions from lack of information alone. They make poor decisions when emotion changes the rules mid-process. A home can be a great fit and still not be worth chasing past your limit. Missing one property is frustrating. Overcommitting to the wrong one can affect your finances and flexibility for years. Look for Opportunity Where Others Are Hesitating The most competitive buyers are not always the ones chasing the most obvious listing. Sometimes the better strategy is to target homes that: have been on the market a bit longer were initially overpriced and may now be more negotiable show less perfectly but have strong fundamentals need cosmetic updates rather than structural work are overshadowed by more polished competing listings This is where value often lives. In a market with stronger inventory and less pressure, patience can be a real advantage. Buyers who look beyond the most emotionally crowded listings often find better negotiating conditions and less pressure to stretch. Do Not Confuse Urgency With Scarcity A listing can feel urgent without actually being scarce. That distinction matters. Scarcity means the property is genuinely rare for the location, price point, or feature set. Urgency often just means the marketing is strong, the home shows well, or the first weekend is busy. Those are not the same thing. VREB’s March 2026 report said the current environment is giving both buyers and sellers time to make decisions and complete due diligence, which is very different from a true panic market. Work With a Strategy, Not Just a Search The buyers who avoid overpaying usually have a plan for how they will compete, not just a list of homes to see. That strategy often includes: identifying target neighbourhoods and backup areas knowing which compromises are acceptable understanding where they can move quickly and where they should slow down recognizing when a listing is priced for attention versus priced for sale being willing to walk away from the wrong fit That is what keeps a buyer both competitive and protected. Final Thoughts To compete as a buyer without overpaying, you need more than enthusiasm. You need preparation, market context, and a clear ceiling before emotions take over. In Greater Victoria’s current market, buyers often have more choice, more time, and more negotiating room than they assume, which means strong decisions come from discipline, not desperation. If you want help building a buying strategy that keeps you competitive without stretching beyond what makes sense, contact Faber Real Estate Group for clear guidance tailored to your goals and price range. 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.”

When someone says a deal “collapsed,” that phrase can mean very different things in BC real estate. Sometimes a transaction ends because subjects were never removed. Sometimes one party cannot perform on a firm deal. Sometimes the problem is misrepresentation, mistake, or a frustrating event that makes completion impossible. BC real estate guidance groups collapsed deals into three broad categories: default or breach of contract, misrepresentation or mistake, and frustration. That distinction matters, because what happens next depends on why the deal fell apart and when it happened. First, Understand the Stage of the Deal Before completion, there are usually two very different scenarios: The contract never went firm because subjects were not removed in time The contract was firm, but one side failed or refused to complete Those are not treated the same way in practice or in law. BCREA notes that in the standard Contract of Purchase and Sale, if written notice removing subjects is not delivered by the subject removal deadline, the contract terminates. It also notes that the party benefiting from a subject clause must generally make good faith, reasonable efforts to remove it. So if a buyer has financing or inspection subjects and does not remove them properly by the deadline, the deal may simply die at the subject stage rather than become a true breach-on-closing problem. If the Deal Dies Before Subject Removal This is often the least dramatic type of collapse. If subjects are not removed by the deadline, the contract usually terminates under the standard BC form. However, many buyers assume that means the deposit automatically comes back right away. That is not always true. BCFSA states that if a contract contains subject clauses in the buyer’s favour and those clauses are not removed, the buyer does not automatically get the deposit back. Both parties generally need to sign a separate release, unless the buyer is exercising a statutory rescission right. That is an important operational point. Even when a deal ends cleanly, the deposit may still sit in trust until both sides sign release instructions or a court orders its release. BCFSA’s deposit guidance expressly says its rules cover how deposits can be released and what to do when deposits need to be returned. If the Deal Was Firm and Then One Side Cannot Complete This is where the consequences get more serious. BCREA says a default or breach commonly arises when: the seller no longer wishes to sell or cannot sell in accordance with the contract the buyer cannot complete, often due to financing or down payment issues the buyer no longer wants to complete one party breaches a contractual obligation, such as paying the deposit on time or delivering vacant possession where required BCREA also notes that a breach can be an actual breach or an anticipatory breach, where one side indicates by words or conduct that they do not intend to complete. That means a deal can effectively collapse before the closing date even arrives if one party clearly signals they will not perform. The Deposit Is Often the First Big Issue For most consumers, the first question is simple: Who gets the deposit? In BC, where a buyer breaches a firm real estate contract, the seller is often entitled to keep the deposit, and in some cases can even sue for an unpaid deposit amount. BCREA’s review of the BC Court of Appeal decision in Argo Ventures v. Choi says: a seller is entitled to retain the deposit when the buyer breaches even if the seller has no provable damages, the deposit can still be forfeitable a seller can sue for an unpaid deposit even after accepting the buyer’s repudiation of the contract BCREA also explains that remedies for default or breach may include entitlement to the deposit, damages, and occasionally specific performance. So in plain language, if a buyer walks away from a firm contract, the deposit is often not just “at risk.” It is often the seller’s starting remedy. The Deposit May Not Be the End of the Problem A collapsed firm deal can cost more than the deposit. BCREA states that in addition to retaining or claiming the deposit, a seller may also sue for damages that exceed the deposit. That can include losses such as: a lower resale price if the property later sells for less carrying costs during the delay extra strata fees, taxes, utilities, or financing costs other measurable losses caused by the breach The exact damages are always fact-specific, but the key point is this: losing the deposit does not necessarily cap the breaching party’s exposure. That is why a failed firm deal is much more serious than a subject-stage termination. Sellers Can Breach Too Most people picture the buyer as the one who fails to close, but sellers can be in breach as well. BCREA identifies seller-side default scenarios too, including where the seller cannot sell in accordance with the contract, such as not having enough proceeds to clear title, or failing to deliver required vacant possession. If the seller is the party in breach, the buyer may have claims as the innocent party. BCREA notes that remedies for breach can include the deposit, damages, and in some cases specific performance. Specific performance is not automatic, but it remains a possible remedy in some real estate disputes. Completion, Possession, and Risk Are Not the Same Thing One reason collapsed deals create confusion in BC is that the dates do not all mean the same thing. BCREA explains that in BC, possession is usually one to three days after completion, and that risk transfers at 12:01 a.m. on the completion date, even though closing itself usually happens later in the day. That means there can be awkward edge cases where damage occurs on the completion date before the transaction has actually closed. BCREA’s guidance says the answer depends on the facts and law, and best practice is for buyers to have insurance starting at 12:01 a.m. on completion while sellers keep coverage until after possession. For consumers, the practical takeaway is that a “collapse before completion” can intersect with title, insurance, risk, and possession in ways that are more technical than they first appear. Not Every Collapsed Deal Is a Simple Breach Case BCREA also highlights two other categories: misrepresentation or mistake and frustration. That matters because some deals do not collapse because someone simply changed their mind. A transaction may fall apart because: one side relied on a material misrepresentation both parties were mistaken about a fundamental term an unexpected event made performance impossible or legally pointless The legal result in those situations can be very different from a straightforward buyer default. What Homeowners Should Do Immediately If a Deal Starts Falling Apart If a deal looks shaky before completion, the most important steps are usually practical, fast, and documented. 1. Find out whether the deal is still conditional or already firm That changes almost everything, especially around remedies and deposit risk. 2. Review the exact contract dates and obligations BCREA notes that BC contracts treat dates seriously, and standard contract dates like subject removal, deposit due date, completion, possession, and adjustments all matter. 3. Do not assume the deposit will be released automatically BCFSA says deposit release often requires signed instructions from both parties unless a statutory exception applies or a court orders release. 4. Get legal advice quickly BCREA repeatedly emphasizes that collapsing deals are fact-specific and parties should seek independent legal advice. 5. Avoid informal side agreements If dates, obligations, or timing need to change, they should be properly documented. BCREA notes that amendments to dates like deposit, subject removal, completion, or possession can create real legal consequences. What This Means in Plain English If a real estate deal collapses before completion in BC, the result depends on whether: the deal was still conditional the deal was firm and one side breached the issue involves misrepresentation, mistake, or frustration the deposit has been paid and how it is being held either side suffered measurable losses Sometimes the outcome is relatively clean: the deal dies on subjects and both parties sign a release. Sometimes it becomes a full legal dispute over the deposit, resale losses, or failure to perform. Final Thoughts When a deal collapses before completion,yhe biggest mistake is assuming every failed transaction is the same. In BC, a conditional deal that never firms up is very different from a firm contract that one side breaches. Deposits may not be released automatically, and a firm-deal collapse can expose the breaching party to both deposit loss and additional damages. If you are dealing with a sale or purchase in Greater Victoria that looks like it may not complete, contact Faber Real Estate Group for clear guidance on next steps and when to bring in legal advice right away.   Matt, 5-Star Review, via Google Professional, knowledgeable and just stand up guys. Would recommend for all your real estate needs! Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

When you buy a strata property, you are not just buying the unit. You are also buying into how the building is governed, how decisions are made, and how problems are handled over time. That is why learning how to evaluate a strata council and meeting minutes is such an important part of due diligence. In BC, strata corporations must prepare records including minutes of annual and special general meetings and council meetings, and owners are entitled to access key strata information. What the strata council actually does The strata council is responsible for carrying out the duties and affairs of the strata corporation between general meetings. In simple terms, that means the council is often making the day-to-day decisions that affect budgets, repairs, rule enforcement, communication, and overall building management. In BC, council meeting minutes must be taken, and owners must be informed of those minutes within two weeks of the meeting. What documents buyers should review If possible, buyers should review more than just a Form B and the latest budget. A stronger review usually includes: Strata council meeting minutes AGM and SGM minutes Financial statements and budgets Bylaws and rules Information about repairs, maintenance, and insurance Depreciation report, if available Any evidence of upcoming special levies or major projects BC’s guidance for strata buyers and sellers notes that owners are entitled to receive information including council minutes, AGM and SGM minutes, bylaws and rules, financial statements, and information related to repairs and maintenance. The province also notes that owners should keep themselves informed by reviewing council minutes, budgets, and financial statements. How to read meeting minutes the right way A common mistake is reading minutes like a checklist. A better approach is to read them like a pattern. One complaint about noise is not always a problem. One plumbing repair is not always a red flag. What matters is repetition, tone, and whether the council seems organized, proactive, and financially realistic. As you review minutes, ask yourself: What issues keep coming up? How quickly are they addressed? Is the council documenting decisions clearly? Are owners being informed properly? Do the discussions suggest planning, or constant reaction? Because BC requires minutes to record decisions and votes, well-kept minutes should help show whether the strata is organized and accountable. Green flags in strata minutes Strong strata minutes often show signs of a council that is paying attention before problems become expensive. Look for patterns like: Regular meetings and consistent records Clear follow-up on repairs and maintenance Budget discussions that feel realistic Evidence of planning for future projects Professional communication with owners Attention to financial controls and documentation The province’s financial best practices for stratas emphasizes due diligence by owners, councils, and managers, and encourages review of council minutes, budgets, and financial statements. That is a good reminder that solid governance usually leaves a paper trail. Red flags buyers should not ignore Some strata issues are obvious. Others are easy to miss until they become expensive after completion. Watch carefully for: Repeated water penetration, leaks, mould, or envelope concerns Frequent conflict between owners and council Deferral of repairs without a clear plan Cash-flow stress or unusual concern about paying invoices Discussion of special levies without clear preparation Insurance challenges or claims history Rule enforcement that appears inconsistent or chaotic Legal disputes, threats of lawsuits, or major unresolved complaints Not every red flag means you should walk away. But several red flags appearing again and again can signal weak governance, poor financial planning, or a building carrying hidden stress. How to evaluate the council itself You are rarely going to know every council member personally before buying, so the goal is not to judge personalities. The goal is to judge governance. A strong council usually looks: Organized rather than reactive Consistent rather than erratic Transparent rather than vague Practical rather than overly political Focused on the building as a whole, not individual agendas BC notes that the strata council governs on behalf of all owners between general meetings. That matters because buyers are not just evaluating a document package. They are evaluating whether the people running the corporation appear to understand that responsibility. Pay close attention to money language Some of the biggest clues in strata minutes are financial, not dramatic. Watch for phrases or themes such as: Postponing work due to cost Getting multiple quotes for overdue repairs Concern about contingency reserve fund levels Discussion of borrowing or special levies Projects that keep being deferred Unexpected maintenance becoming a regular issue Even if the building looks clean and well run on showing day, the minutes and financial records may tell a different story. BC requires strata corporations to keep budgets, financial statements, and records of spending for at least six years, which is part of why these documents can reveal the building’s real operating habits. Why AGM and SGM minutes matter so much Council minutes show the ongoing operational story. AGM and SGM minutes often show the bigger turning points. These minutes can reveal: Owner approval or rejection of spending Election results and governance changes Bylaw changes Voting patterns around major repairs Whether the ownership group tends to support long-term planning or resist costs In BC, annual general meetings must be held every year no later than two months after the fiscal year end unless properly waived, and minutes from these meetings are among the records strata corporations must keep. What this means for Greater Victoria buyers This is especially important in Greater Victoria because so many buyers are considering condos, townhomes, and other strata properties as part of their entry point, downsizing plan, or move within the market. In these purchases, the quality of the strata can affect not only your day-to-day ownership experience, but also future resale appeal, financing comfort, and confidence around upcoming costs. A well-run strata does not need to be perfect. Most buildings have issues. What buyers want to see is whether the council is dealing with those issues in a thoughtful, timely, and financially responsible way. The bottom line Knowing how to evaluate a strata council and meeting minutes can help you avoid buying into avoidable problems. The goal is not to find a flawless building. The goal is to understand how the building handles stress, money, maintenance, and decision-making. A strata document package tells a story. The key is knowing how to read it before you become part of it. If you are considering a condo or townhome purchase in Greater Victoria and want help reviewing the bigger picture behind the strata documents, contact Faber Real Estate Group for guidance tailored to your move. Raman B., 5-Star Review, via Google “Faber group is a power house team with motivation, drive and a desire to exceed your needs. This family based business excels in the Victoria real estate market and goes to great lengths to find the perfect property that suits you. I would highly recommend them, 5 out of 5 stars!!” 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.”

Bridge financing is short-term borrowing that helps cover the gap when your next home purchase closes before the sale of your current home. In practical terms, it can let a seller use equity from the home they are selling to complete the purchase of the next property without waiting for the sale proceeds to arrive first. RBC describes bridge financing as a temporary option designed to “bridge” that timing gap, and notes that lenders typically want a firm sale agreement in place on the existing home. Why Greater Victoria sellers ask about it more in a balanced market Bridge financing becomes especially relevant when sellers want to move quickly on a purchase but do not want to feel rushed into selling first. That question matters in Greater Victoria right now because the market is offering more choice and less urgency than the tightest seller-market periods. The Victoria Real Estate Board reported 579 sales in March 2026 and 3,261 active listings at month-end, and described the current environment as one where buyers and sellers both have opportunities, with more time for due diligence and decision-making. That kind of market can be helpful, but it also creates a planning challenge. Sellers may find the right replacement property before their own sale has completed. Bridge financing can be the tool that keeps the move possible. How bridge financing usually works The basic structure is simple: You buy your next home Your current home has a firm sale The closing dates do not line up A short-term loan covers the gap until your sale completes For example, if you are buying a new home on June 1 but your current home does not complete until June 20, a bridge loan may cover those 19 days. Once your sale closes, the bridge loan is typically paid off from the sale proceeds. RBC says bridge loan terms are commonly short-term, often up to six months, though actual terms vary by lender and situation. When bridge financing can make sense Bridge financing can be useful when: You have a firm accepted offer on your current home Your purchase closes before your sale You need access to equity for the down payment or closing funds You want to avoid a rushed sale or temporary move This is often relevant for sellers who are upsizing, downsizing, or trying to buy a specific property type that does not come up often. In those cases, bridge financing can create flexibility that makes the move more manageable. What sellers need to understand before using it Bridge financing is helpful, but it is not something to use casually. RBC specifically notes that bridge financing is expensive and not recommended as a matter of course. It is a short-term solution, not a default strategy. Here are the big points sellers should understand: A firm sale is usually important. Lenders often want confirmation that your current home is sold before approving bridge financing. It adds carrying costs. Because it is short-term borrowing, the cost can add up quickly if the gap is longer than expected. Closing dates matter. Even a strong sale and purchase can become stressful if dates are poorly coordinated. It works best with a clear financing plan. Your lender, mortgage broker, and Realtor should all be working from the same timeline. The biggest mistake to avoid The biggest mistake is treating bridge financing like a backup plan for an unsold home. Bridge financing is usually strongest when it is supporting a move that already has clear structure: a firm sale, a known completion date, and lender approval based on that timing. It is much riskier to assume financing will solve a weak sale plan, an aggressive purchase timeline, or a home that has not yet attracted serious buyers. In other words, bridge financing should support strategy, not replace it. How this affects Greater Victoria sellers specifically In a market with more listings and more buyer choice, sellers need to think carefully about timing. If your next purchase depends on the sale of your current home, pricing, preparation, and negotiation strategy all matter even more. A poorly timed sale can create stress. A well-timed one can make bridge financing either unnecessary or very short. That is why bridge financing is really a planning conversation before it becomes a lending conversation. In Greater Victoria’s current market, good sequencing can matter just as much as good pricing. VREB’s March 2026 data points to a market with solid inventory and more measured activity, which makes that sequencing work especially important. The bottom line Bridge financing explained for Greater Victoria sellers comes down to one idea: it is a short-term tool that can help when your purchase closes before your sale, but it works best when the rest of the move is already well planned. Used properly, it can reduce stress and help you secure your next home. Used without a clear strategy, it can add cost and pressure at exactly the wrong time. Bridge financing is not one-size-fits-all. Reach out to Faber Real Estate Group if you would like an introduction to a reliable mortgage broker to help you explore your options. Justin V., 5-Star Review, via Google “Scott and Cal were absolutely phenomenal! From the moment we met them, we knew we were in good hands. Their in-depth knowledge of the Victoria market was impressive, and they guided us through the entire home selling and buying process with expertise and patience. They were always available to answer our questions, and their negotiation skills were top-notch. Thanks to their hard work, we found our dream home! We highly recommend The Faber Group to anyone looking to buy or sell a property.” 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 a hot seller’s market, some homes can get away with ambitious pricing because urgency does a lot of the work. In a balanced market, that changes. Buyers have more options, more time to compare, and more room to negotiate. That means pricing is no longer just a number. It becomes part of the strategy. Greater Victoria is showing the kind of conditions that make smart pricing especially important. The Victoria Real Estate Board reported 3,261 active listings at the end of March 2026, up 12.3 per cent from February, while 579 properties sold in March. VREB described current conditions as offering opportunity for both buyers and sellers, with fewer high-pressure transactions and more time for due diligence. What strategic pricing really means Strategic pricing does not mean pricing low for the sake of creating a bidding war. It also does not mean pricing high just to leave room to negotiate. In a balanced market, both approaches can backfire. Strategic pricing means: Positioning your home where serious buyers see value Using recent comparable sales, current competition, and buyer behaviour together Choosing a price that supports your timing goals as well as your financial goals The goal is simple: create enough confidence that buyers feel your home is worth seeing, worth considering, and worth acting on. The biggest pricing mistake sellers make The most common mistake is treating list price like a wish list instead of a market position. Many sellers look at what they want to net, what a neighbour listed for, or what improvements they made, and build a price from there. The problem is that buyers do not price homes that way. Buyers compare your home against every other option available to them right now. In a balanced market, overpricing usually does not create leverage. It creates hesitation. When a home sits too long, buyers start asking the wrong questions: What is wrong with it? Why has it not sold? Is the seller unrealistic? Should we wait for a price reduction? That is how a home can lose momentum before it ever gets a real chance. What buyers are actually looking at Today’s buyers are rarely judging your home in isolation. They are comparing it to: Recent sold properties that set expectations Current active listings that compete for attention Homes that failed to sell which quietly show where the market rejected pricing That last category matters more than many sellers realize. Expired and stagnant listings are often the clearest warning sign that the market did not agree with the price. A smart pricing strategy studies all three. How to price with the market, not behind it 1. Start with the most relevant comparables The best comparable sales are recent, nearby, and genuinely similar in size, condition, layout, and location. Not every sale in the neighbourhood is helpful. A smaller updated home may outperform a larger dated one. A home on a quiet street may command more than a similar one on a busier road. Pricing strategy starts with knowing which differences matter to buyers and which ones do not. 2. Look at your competition honestly Sold data tells you where the market has been. Active listings tell you what buyers are choosing between today. If your home is similar to two or three competing listings, your price needs to answer a simple question: why would a buyer choose yours? Sometimes the answer is condition. Sometimes it is lot size, layout, updates, or location. Sometimes the answer has to be price. 3. Build in room for buyer psychology Even in a balanced market, buyers still respond to perceived value. A home priced just well enough to stand out can generate stronger early interest than one priced slightly too high. That matters because the first week or two is often when your listing gets the most attention. If that window is wasted, catching back up can be difficult. 4. Match the pricing strategy to your goal Not every seller has the same objective. If timing matters most, pricing closer to the strongest value range may help create faster traction. If maximizing price matters most, the strategy may involve pricing with slightly more patience, but still within a range the market can support. If the home is unique, pricing may require more explanation, stronger presentation, and tighter positioning. Good pricing is never one-size-fits-all. Signs your price is working A strategic price usually creates a pattern: Strong online views and saves Solid showing activity in the first couple of weeks Meaningful buyer feedback Interest from buyers who are properly matched to the home and price point If showings are low and feedback keeps circling back to price, the market is usually giving you an answer early. Signs your price is missing the mark Watch for these warning signs: Plenty of views online but very few showings Showings without second visits or serious follow-up Repeated comments that similar homes offer better value The listing starts to feel stale compared with new inventory In a balanced market, time can quietly become your competition. The longer a listing sits without a clear reason, the more negotiating power tends to shift away from the seller. Why this matters in Victoria right now This is exactly why pricing strategy matters so much in Greater Victoria today. Inventory has been rising, buyers have more breathing room, and VREB has described the market as one with good supply and reasonable demand rather than high-pressure urgency. That means sellers can still succeed, but the homes that stand out are usually the ones that combine good presentation, clear value, and accurate pricing. That answer-first, highly structured approach also matches the blog SEO and AEO direction identified in your site audit, which emphasized stronger clarity, cleaner answer extraction, and more strategic content framing. The bottom line To price your home strategically in a balanced market, think less about pushing the ceiling and more about controlling the outcome. The right price helps attract the right buyers, protects your momentum, and gives you a stronger position when offers come in. A well-priced home does not just sit on the market waiting to be discovered. It gives buyers a reason to act. If you are thinking about selling and want a pricing strategy built around today’s Greater Victoria market, contact Faber Real Estate Group for tailored advice on how to position your home with confidence. 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.”

Selling a tenanted home in BC can be done successfully, but it requires a different strategy than selling a vacant property. If you are selling a tenanted home in BC, you need to balance marketability, legal compliance, tenant rights, and buyer expectations from the start. One of the biggest mistakes sellers make is assuming they can simply ask the tenant to leave once they decide to list. In British Columbia, that is not how it works. A tenancy usually continues when a property is listed for sale, and a landlord cannot end a tenancy just because they want to sell. The First Thing Sellers Need to Understand A tenant in place does not prevent a sale. What it changes is the process. In many cases, the property can still appeal to: investors who want rental income from day one buyers who are flexible on possession timing buyers who plan to move in later, once the legal process allows it That said, the buyer pool is often narrower than it would be for a vacant home. Some owner-occupiers will hesitate if they need immediate possession, and some buyers will be cautious if they are unsure about notice periods, showing access, or the condition of the tenancy. This is where pricing and presentation matter more. A tenanted home usually needs stronger expectation-setting, cleaner communication, and a marketing plan built around the reality of tenant occupancy, not around an ideal vacant-show-home scenario. You Usually Cannot End the Tenancy Just Because You Want to Sell This is the rule many sellers misunderstand. In BC, the tenancy continues while the home is being marketed. The landlord cannot end the tenancy simply because the property is going on the market. That means the home may be sold: with the tenant staying in place with the buyer taking over as the new landlord or, in some cases, with notice given later for purchaser occupancy if the legal requirements are met When Can a Tenant Be Given Notice for Purchaser Occupancy? A seller may be able to end the tenancy for purchaser occupancy, but only in a specific situation. There must be a genuine accepted sale, and the purchaser must intend in good faith to occupy the property. BC now uses a Three Month Notice to End Tenancy for Purchaser’s Use process for qualifying situations, and the approved RTB form must be generated through the Residential Tenancy Branch web portal. The landlord must give three months’ notice for purchaser occupancy, and the tenant has 21 days to dispute the notice. The tenant is also entitled to one month’s rent as compensation, which must be paid on or before the effective date, or the landlord can allow the tenant to withhold the final month’s rent instead. This is why timing matters so much. If a buyer wants vacant possession for personal use, the transaction timeline, contract terms, and notice process all need to be handled carefully. Bad-Faith Risk Is Real Sellers and buyers both need to take purchaser-occupancy notices seriously. If a tenancy is ended for landlord or purchaser use, the stated reason must be genuine. BC guidance says the person moving in must actually follow through, and if the unit is not used for the stated purpose within a reasonable period, compensation may be owed. Province guidance also says the person moving in must occupy the home for a minimum of 12 months, and bad-faith evictions can lead to compensation equal to 12 months’ rent. For sellers, this means you should never market “vacant possession” casually unless the legal path is clear. Showings Need to Be Handled Properly Another major issue when selling a tenanted home in BC is access. Tenants have a legal right to quiet enjoyment while the tenancy continues. Ideally, the landlord and tenant agree in writing on a showing schedule. If there is no written agreement, the landlord must generally give 24 hours written notice for each showing. Entry notice must be between 8 a.m. and 9 p.m., and the notice must state the date, time, and reason for entry. This matters for marketing strategy because: last-minute showings become harder open access is less realistic repeated disruptions can create friction presentation may be less consistent than in a vacant listing In other words, the home can still sell well, but the plan has to respect both the law and the tenant relationship. Why Tenant Cooperation Can Change the Outcome A cooperative tenant can make a tenanted sale much smoother. An uncooperative one can affect: showing volume buyer impressions photography timing condition during visits overall sale momentum That does not mean a seller is powerless. It means the approach needs to be proactive. Good practice often includes: explaining the sale process clearly giving as much notice as possible grouping showings where reasonable keeping communication respectful and documented considering whether a cleaning, gift card, or other lawful gesture may help cooperation Often, the result of a tenanted sale is shaped less by the tenancy itself and more by how the relationship is managed during the listing period. Should You Sell to an Investor or an Owner-Occupier? This is one of the most important strategy questions. If the tenancy is stable, rent is attractive, and the property suits an income buyer, selling to an investor may be the simplest path. The tenancy stays in place, the buyer inherits the rental relationship, and the transition can be more straightforward. If the best likely buyer is an owner-occupier, then possession timing becomes central. The sale strategy needs to account for notice periods, compensation, and the buyer’s real move-in timeline. The wrong move is trying to market to everyone with vague promises. The better move is deciding early which buyer profile is most realistic and building the pricing, terms, and messaging around that. What Sellers Often Miss Many sellers focus only on the legal side and forget the market side. A tenanted property can lose leverage when: photos are rushed or limited buyers are unclear on possession showings are difficult to book tenant communication breaks down the home is priced like a vacant, fully accessible listing The right approach is to price with context, disclose clearly, and remove uncertainty wherever possible. Buyers do not always walk away because a home has tenants. They often walk away because the process feels unclear. A Practical Way to Approach the Sale If you are selling a tenant-occupied property, think in this order: understand the current tenancy and documents confirm the most likely buyer type build a showing plan that complies with BC rules set realistic expectations around possession avoid promising vacancy unless the legal path is clear work with an agent who understands both the market and the tenancy framework That approach protects the seller, respects the tenant, and gives buyers more confidence. Final Thoughts Selling a home with tenants in place is absolutely possible, but it is rarely a standard sale. It requires better communication, more precise timing, and a strategy built around the facts of the tenancy rather than assumptions. When handled properly, a tenanted property can still sell efficiently and at a strong price. If you are planning on selling a tenanted home in BC and want help building the right pricing, notice, and marketing strategy, contact Faber Real Estate Group for guidance tailored to your property and situation.   Mark G., 5-Star Review, via Google “One of the best experiences I’ve had with a realtor. . Above all, it seems that i have gained a great relationship and i appreciate that more than feeling like just a transaction.. I will definitely be going back for my next big purchase!” 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.”  

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

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

A strong long-term value property Victoria buyers should look for is not always the newest or most polished listing. More often, it is the property that will remain useful, desirable, and financially defensible as your life changes and the market shifts. That matters in today’s market because buyers have more inventory to compare than they did in the tighter conditions of recent years. At the end of February 2026, the Victoria Real Estate Board reported 2,903 active listings, up 10.4 per cent from February 2025. The Victoria Core benchmark was $1,307,400 for a single-family home and $545,600 for a condo. When buyers focus only on finishes, they can miss the deeper question: will this property still make sense years from now? That is where long-term value lives. Start with location, not just the listing itself A beautiful home in a weak location can become harder to defend over time. A simpler home in a consistently desirable area often holds up better. In Victoria, long-term value is usually supported by locations that stay practical through changing market conditions. That often means proximity to employment areas, schools, daily services, parks, and transit. These are the features buyers tend to keep paying for, even when the market becomes more selective. A good question to ask is not just, “Do I like this neighbourhood today?” It is, “Will buyers still want this area when I eventually sell?” Look for a layout that can adapt Long-term value improves when a property can serve more than one stage of life. That could mean: a bedroom and bathroom on the main floor space for a home office a lower level with suite potential a layout that works for a couple, a family, or downsizers enough storage and functional living space for daily life The most resilient homes are often the ones that can adjust with changing needs. A property that only works for one very specific buyer profile may still sell, but it often has a smaller resale pool. Pay attention to flexibility and future utility One of the clearest signs of long-term value is flexibility. In Victoria, that can include a legal suite, a layout that could support secondary accommodation, or land and zoning context that gives the property more than one use case. The City of Victoria’s Missing Middle and residential infill framework allows forms such as houseplexes, corner townhouses, and heritage-conserving infill in applicable areas, and the city notes that other forms of residential infill are now permitted in most areas. That does not mean every property should be valued as a redevelopment play, but it does mean flexibility has become a more important part of how buyers assess value. A property can have stronger long-term value if it offers: legal income potential multigenerational living options adaptable finished space lot characteristics that widen future use value even without relying on speculative redevelopment Separate cosmetic issues from functional problems Some homes look dated but still make excellent long-term purchases. Others look updated but have underlying problems that can weaken value later. Cosmetic issues are usually easier to manage, such as: old paint colours tired flooring dated fixtures older but functional kitchens and bathrooms Functional issues are more important to weigh carefully, such as: awkward layouts poor natural light very limited storage expensive deferred maintenance aging roofs, windows, or building systems weak strata planning in a condo building A smart buyer learns to tell the difference. Cosmetic flaws can create opportunity. Functional obsolescence can create drag. Think about resale before you own it A property with long-term value should have a believable resale story. That usually means: a sensible floor plan enough parking for the area and property type outdoor space that feels usable broad lifestyle appeal a price point supported by steady demand a location and design that do not require too much explanation If you already know you will need to “sell the buyer” on the home’s weaknesses, that is worth noticing. Long-term value is often tied to how easy the property will be to understand and appreciate later. In today’s market, buyers can afford to be more selective This is one reason long-term thinking matters right now. Victoria buyers are no longer making decisions in the same ultra-tight environment that defined some recent years. More active listings mean more comparison, and that usually puts pressure on homes with weaker fundamentals. BCREA has also reported that provincial inventory is running near its highest level in over a decade, while its 2026 first-quarter forecast update says markets are expected to remain balanced in 2026 with price growth tempered by supply. That does not mean value disappears. It means buyers have a better chance to choose carefully. What long-term value can look like by property type Detached homes Detached homes often hold long-term value through a combination of land, flexibility, and family appeal. Homes with suites, usable yards, and adaptable layouts tend to offer broader demand over time. Condos For condos, long-term value often comes down to the building as much as the unit. A practical floor plan, good light, strong location, and responsible strata management usually matter more than trendy finishes. Townhomes Townhomes can offer strong long-term value when they balance space, livability, and manageable ownership costs. Functional layouts and family-friendly design tend to age well. A better question to ask before buying Instead of asking, “Will this property go up quickly?” ask: “Will this home still make sense if I own it for 7 to 10 years?” That question tends to reveal the things that actually matter: location durability layout flexibility maintenance risk resale depth income or suite potential overall usability That is how buyers move from short-term excitement to long-term strategy. Final thoughts A strong long-term value property Victoria buyers should prioritize is rarely just the best-staged listing or the one with the newest finish package. It is usually the property with lasting utility, flexible appeal, manageable risk, and a location buyers are likely to keep valuing. If you want help evaluating which homes offer real long-term value in Victoria, contact Faber Real Estate Group for practical guidance tailored to your goals, budget, and timeframe. Gerry L., 5-Star Review, via Google “It was a true pleasure working with Cal. We could not have asked more from Cal in how he looked after us from showing to closing. He made the whole process as easy as possible for us, and it was obvious that he cares about his clients and looking after them. The communication from both Cal and Scott was clear, fast and professional. We would absolutely recommend the Faber Real Estate Group!” 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.”