Saanich BC Real Estate
By: Clearway Law
Tags: Realtor Websites, Property, Realtor Near Me, Real Estate, Realtor

Are you looking for Saanich real estate in Victoria BC? Our company, Clearway, can connect you with a real estate lawyer and/or agent. We find the best Realtors, and kick any bad ones off our list. Vancouver Island is a beautiful place.

Gordon Head is the most wealthy area in Saanich, British Columbia. It is located near UVIC and the water. It has easy access to downtown Victoria via buses. If you want more property information about Gordon Head, contact us.

Canadian real estate tends to be a great investment. Real estate agents can look for great deals for you. Also, Realtors who are part of the real estate association (CREA) can help you sell your property and cash out.

Central Saanich has land that is much cheaper than Gordon Head. It has a lot of farms and is quite a bit hotter in the summer.

Read more about real estate law. It’s important to hire a real estate lawyer before buying or selling a property.

We put together some information about the properties below.

Is Victoria, British Columbia a good place to retire to?

Victoria has historically been a favoured location for retirement and is known for its more aged and affluent population. Saanich is a City but is much smaller and quaint than many other of its urban counterparts and has a much milder climate compared to the rest of Canada.

Does the landlord or tenant pay property taxes for Saanich Real Estate?

The Landlord, or owner of the property, will always be responsible for the payment of their property taxes. In many cases, a portion of the tenant’s rent will be dedicated to subsidizing their proportionate share of the property’s total gross taxes.

However, to the tenant, that cost is just lumped in altogether as gross rent. This is called a triple net lease where the tenants cover the operating costs of the property.

Which city is better to invest in Toronto or Saanich real estate?

This is fully dependant on the purchaser’s criteria. Each market will have its own capital requirements, return horizons, and unique considerations. The most important thing is choosing a market that you or an employee will be able to service and maintain effectively.

Generally speaking, Toronto will be a tougher market to enter as a first-time investor as that is the Canadian market where values and competition are the greatest. The barriers to entry are much larger in Canada’s large metropolitan cities.

Victoria is still one of the most highly sought-after cities to invest in Canada due to the strong economic indicators, nature, and relatively affordable cost of living vs. in places like Toronto where it is much more expensive.

What is your review of the University of Victoria?

UVic is a fantastic post-secondary institution that provides a full array of potential career opportunities. The university does a good job of providing a well-rounded and more holistic approach to education well-ensuring exposure to professionals in the same and other fields and prepping its students for the job market.

UVic professional alumni network is extremely active and decorated. The institution and its staff frequently win global awards and commendations.

The University of Victoria is well known around the world and is still a smaller campus that gives its students a more personable service over larger institutions while still providing a first-class educational program.

Buying Saanich real estate near UVIC is a great idea!

Is owning a rental property a good way to make money?

Rental properties are one of the most effective ways of generating semi-passive income. Depending on the property, the investment strategy will vary, and therefore so will the timeframe for you to recoup your investment. In markets like Victoria, for example, certain residential properties can be purchased and rented out to service much of the monthly mortgage cost and operating costs.

Rental properties being good money-making machines is fully contingent on the underlying market dynamics of the asset class in question which is why it is important to consult a commercial real estate professional.

Every asset class and property will perform differently hence why it is important you consult with your real estate professional to underwrite the property correctly and understand the current market fundamentals such as vacancy rates and market lease rates that will impact the value and return of the property over time.

Which city is better to live in, Saanich or Seattle?

Both cities serve entirely different lifestyles and quality of life. Seattle is a Metropolitan city and one of the most rapidly expanding city centers in North America — and therefore more comparable to a city like Vancouver. Victoria, although also growing rapidly, is a much quainter and more relaxed environment where a balanced lifestyle and access to natural activity is generally held in a higher value.

Some characteristics the two shares are with respect to the cultures of the cities specifically concerning food, alcohol, and the technology industry.

There are benefits to both cities for an individual and also for companies but there has been a recent flight north of the border by American companies to places like Victoria where they can take advantage of a lower cost of living and the exchange rate for cheaper labour and operational costs

Generally, when people and companies migrate to Saanich it is for a lifestyle change and a moderate climate compared to surrounding regions. Often the people who visit, and/or ultimately migrate to Victoria are looking to escape from the lifestyle that comes with a large city such as Seattle.

Why is Saanich Real Estate so expensive?

Victoria is on Vancouver Island which is a very rocky and mountainous region. Therefore, land in Saanich is extremely limited. Most of the readily developable land has already been built on. Therefore, it drives up the values and costs.

This is because there is typically an excess of demand for property vs. supply. Also, Saanich has its own construction challenges vs the mainland.

Further to that point, since Victoria is surrounded by water on three sides and surrounded by mountains either near or afar, there is inherent marketability and value in these properties.

Consumers will pay more for properties that are “steps from the ocean” or have a view of the Olympic Mountains. Therefore, it makes Victoria some of the most premium real estate in Canada.

Also, as we are isolated by water shipping and importing of goods adds a level of costs that have to be absorbed by the consumer.

Victoria is also the capital of British Columbia, so we are fortunate for lots of provincial government jobs and our technology industry is starting to attract a workforce from all over the world for our great work-life balance.

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What’s it like to be in Saanich right now?

As of August 2020, Saanich continues to be a great place to live. It has been well insulated from the effects of COVID-19. This was due to its strong internal economy and its natural barriers from the rest of the world.

Although, there have been changes to day-to-day life that have inherently come with COVID-19 for most “life goes on” and people have adjusted accordingly.

At this time, the real estate market is seeing and a significant influx of activity with single-family dwellings coming off of two consecutive months of precedent-setting average home values.

New developments continue to arise through the entitlement process, under construction to completion by developers on a local, provincial and national basis as they find Victoria a very desirable place to invest and develop in.

Are you looking for Saanich real estate? It’s time to contact us. We can connect you with a Realtor.

Author: Alistair Vigier is the CEO of ClearWay Law