Posts Tagged ‘garden suites Victoria’

Secondary suites and laneway homes remain a compelling investment in 2026, offering rental income and long-term value in a balanced market. In a more stable market, these additions offer predictable rental income, zoning advantages, and meaningful resale value across Greater Victoria. Reliable rental income in a balanced market As price growth normalizes, rental income plays a larger role in overall return. Secondary suites and laneway homes provide consistent cash flow that can offset mortgage costs or support long-term holding strategies. Demand remains strongest for well-designed, legal suites close to transit, employment hubs, and schools. Purpose-built laneway homes also appeal to downsizers, professionals, and long-term tenants seeking privacy without condo living. Zoning perks and increased flexibility Recent zoning changes across Victoria, Saanich, and the West Shore have made it easier to add secondary dwellings. Many neighbourhoods now allow suites or garden homes by right, reducing approval timelines and uncertainty. This flexibility supports multi-generational living, aging-in-place options, and future use changes. Buyers value properties that adapt over time rather than relying on a single use. Added value beyond monthly cash flow Homes with legal suites or laneway houses often command higher resale prices, even in balanced conditions. Buyers recognize the built-in income potential and future development options. Appraisers and lenders also tend to view legal secondary dwellings favourably, especially when permits, fire separation, and parking requirements are met. This can strengthen financing options and buyer confidence. What investors should evaluate in 2026 Not all secondary dwellings deliver equal returns. Before purchasing or building, consider lot size, servicing capacity, parking requirements, and neighbourhood rental demand. Construction costs remain a key factor, so long-term planning matters more than short-term yield. In many cases, the combined benefit of rental income, flexibility, and resale value outweighs pure cash flow calculations. Bottom line Secondary suites and laneway home investments remain a practical strategy in Greater Victoria. While rapid appreciation has cooled, these properties continue to offer stability, adaptability, and long-term value in a more balanced market. Maryann G., 5-Star Review, via Google “We recently sold our home through the Faber Real Estate Group. We received excellent service as we navigated our way through the sale of the house. I would recommend Cal and his sons as the realtor for your sale as they are so professional and gave good advice leading to a quick sale.” Faber Real Estate Group Royal LePage Coast Capital Realty 📞 250-244-3430 📧[email protected] ℹ️ Scott Faber Personal Real Estate Corporation ℹ️ Cal Faber Personal Real Estate Corporation Vanessa Wood, Zachary Parsons, and Sophie Taylor “Building Lasting Relationships, One Home at a Time.”

The Victoria rental market continues to play a major role in shaping real estate conditions across Greater Victoria. In 2026, limited rental supply, steady population growth, and affordability pressures are influencing buyer behaviour, pricing, and long-term market trends. Understanding the Victoria rental market helps both buyers and sellers make more informed decisions. Strong Rental Demand Supports Buyer Activity Rental demand in Victoria remains high, driven by job growth, students, and limited purpose-built rental inventory. As a result, rents continue to sit at historically elevated levels. For many renters, rising monthly payments make ownership more attractive, even in a balanced sales market. This dynamic supports ongoing demand for entry-level condos, townhomes, and smaller single-family homes. Impact on First-Time Buyers The Victoria rental market often accelerates first-time buyer decisions. High rents make saving challenging, yet comparable mortgage payments can appear more manageable Stable inventory in 2026 provides buyers with more choice and negotiating room Condos and townhomes remain the primary entry point for renters transitioning to ownership As rental costs rise, ownership becomes less about timing the market and more about long-term stability. Influence on Investors and Secondary Suites Investors continue to view Victoria real estate as a long-term hold, largely due to rental scarcity. Strong demand supports consistent occupancy Secondary suites and garden suites add value to single-family homes Purpose-built rental constraints keep pressure on resale housing While regulatory changes affect short-term rentals, long-term rental demand remains a key support for property values. Condo Market Effects The Victoria rental market has a direct impact on the condo segment. One- and two-bedroom units attract both renters and buyers, especially near employment centres, transit corridors, and post-secondary institutions. In 2026, balanced inventory has reduced bidding pressure, yet rental fundamentals continue to support pricing. Supply Constraints Shape Long-Term Trends Although new rental projects are underway, supply growth continues to lag demand. Zoning limitations, construction costs, and approval timelines slow meaningful expansion. As a result, rental pressure reinforces long-term housing demand across Greater Victoria. This dynamic supports price stability, even during periods of slower sales activity. What This Means for Sellers Sellers benefit from rental-driven demand in several ways: Strong interest in entry-level and income-generating properties Continued appeal of homes with suites or flexible layouts Stable buyer confidence despite market normalization Pricing still matters, but underlying demand remains intact. Final Thoughts The Victoria rental market remains a foundational driver of real estate activity in 2026. Limited supply, high rents, and steady demand continue to influence buyer decisions and support long-term values. For buyers, sellers, and investors alike, understanding rental market conditions provides valuable context when navigating Greater Victoria real estate. Lorraine P., 5-Star Review, via Google “I would not dream of ever using a realtor other than Cal. Apart from the fact that he is was exceptionally knowledgable and resourceful, he was also honest, truthful and always acted in my best interest while at the same time treating all parties with dignity and respect.”