The Victoria real estate market is cooling down and inventory levels are rising, yet we are not yet seeing a major reduction in prices. If you are thinking of buying a pre-sale condo, now is a great time. Developers don’t like to lower the sticker price. This hurts future sales and the development in general, […]
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Entries by Victoria Presales
The deficiency walkthrough is one of the most important stages of buying a new condo or home. It is required to initiate your New Home Warranty. Typically about 2-3 weeks before completion, the developer will allow you and your REALTOR® to walk through and inspect the unit for any faults. This gives enough time for […]
As of 2018 the City of Victoria has banned any new Transient Zoned (30 days or less) buildings in Victoria. The only ones still allowed are buildings that had existing transient zoned status and have been grandfathered in. Here is a list of buildings in Victoria that allow short term (Airbnb, VRBO, Homeaway, etc) rentals: […]
When it comes to choosing a concrete vs woodframe building for your next condo investment there are some important things to consider. Concrete has better soundproofing and insulation qualities Concrete performs better in the event of fire or water damage Concrete can be built taller, past 6 stories Concrete is more expensive per square foot […]
Although there are many advantages of buying a presale condo, like any investment, it is not without risk. Here are some disadvantages or potential risks of buying a presale condo or home: GST/Taxes. On all new developments GST is due and can be a hefty bill come closing. No guarantee of a mortgage. Typically lenders […]
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