Retiring to Victoria....? To Buy Now or To Buy Later, That is the Question?

Real Estate Sales Representative with eXp Realty, Victoria BC

Retire to Greater VictoriaRetiring to Victoria....? To Buy Now or To Buy Later, That is the Question?

If you are planning on retiring or relocating to Greater Victoria BC at some time, the next important question is......

When is the best time to Buy in the Victoria Local Market?

Well, the correct answer depends on a number of issues:

We know that for making a smart real estate investment decision, you want to buy low, add value you to the property and make it pay for itself.......

Here are some key considerations:Retire to Greater Victoria

  1. Where do you live now, and how is your local real estate market?
      • If you market values are going up, and where you are buying the prices are low...... It might be a Good Time to buy.
  2. Would you be financially able to buy now or in the future in Victoria , while remaining where you are until you retire?
      • Do you have or Can you raise enough down-payment that if you bought in Victoria, you could generate a positive cash flow from your investment?
  3. Would you emotionally be able to buy now, rent the property out until such time you are ready to move to Victoria....?
      • Are you comfortable with being an out of town landlord, with no hands on influence on the day to day operations and goings on at your Victoria Investment? We can help you wth that.

If you can Say YES to the above Questions it might be time to seriously consider to buy your future Victoria Home sooner rather than later.....

Let me explain why..... Here are some Facts:

  • Victoria is one of only very few communities, where currently the average price is  currently lower now than last year....(that won't last, it never has)
  • We know that interest rates are and will continue to be low (until the national economy rebounds, which will happen at some foreseeable time)
  • The Current inventory of great homes in excellent locations in Greater Victoria has not been this good for years.
  • There are many Home sellers hoping to downsize so good rent able homes are available in prime locations.
  • Greater Victoria Rental Vacancy rates are traditionally very low (1-5%)
  • Property manager are available to look after your property investment.

Let's take an example:

Retire to Greater VictoriaThere is a legal duplex (2 units) for sale at $ 499,900, let's assume we could buy this at $ 490,000 with a 25% down payment for a mortgage of $ 367,500. which would have mortgage payments at approx. $ 2,137 (using 5% interest rates over 25 years)
a duplex like that would easily rent for about $ 2,400 to $ 2,600  per month...
As this is now an investment property the interest payable would be tax deductible (as will be all operating expenses. so you are owning a piece of Vancouver Island Rock at no real coast to you other than the down payment....

I can hear you say, yes but I do not want to live in a duplex when I retire....... I hear you, and you do not need to..... it is your choice and just an example at this time.

So lets look at say a 5 year period that you hold this property, and overRetire to Greater Victoria that period the property has a very conservative value increase of 5% per year..... by the time you are ready to retire or relocate to Victoria the property will be worth..... $ 625,000 and chance..

Not bad for an actual cash investment of $ 127,500, not bad at all.
If you live in a community where the average price now is say $ 360,000, and you market also appreciates at the same 5% rate 5 years from now your local investment will be worth just shy of $ 460,000, as you can see over the 5 years, buying in Victoria would have gained you approx $165,000 over the same time.

Now if you can do the same thing in your home town..... go for it, that is smart investing in your future....

Retire to Greater VictoriaIf  Victoria will be your future home town it might be time to take advantage of  the current lower prices as property values will likely be appreciating at the same or faster in Victoria than your home town.

Peter and Linda Pfann would love to show you how we can offer you Pfanntastic Real Estate Service and Results

Here is a link to the Victoria Real Estate Board Statistical Reports, and published every month.

Victoria Real Estate Market SnapshotPlanning to buy, sell, upgrade, downsize, invest in real estate or relocate to Greater Victoria, and need information about your present or new area of choice?....... No Problem.
Peter and Linda Pfann now offer a FREE Pfanntastic Internet Service, keeping you informed about Greater Victoria Market Activity, includingnew listings, current and recent sales, price adjustments, statistics, graphs and a variety of additional handy real estate tools for your benefit. This absolutely Free no hassle service is completely customized to your specific requirements.
We call it Victoria Market Snapshot, and this amazing little tool will ask you a few questions, and provides you with an updated snapshot of the property type(s), location (s) and real estate market activity as per your requirements.
The Pfanntastic Victoria Market Snapshot Service is Free, The Information is Invaluable, Request Your Victoria Market Snap Shot Right Now!

Posted by




Peter Pfann,

CPCA, ABR, SRES, E-Pro, IMSD, Master ASA, C-CREC, Associate Broker.

Text or Talk To Peter @: (1) 250 - 213 - 9490

Pfanntastic Properties in Victoria, BC, Canada, @ Fair  Realty Since 1986.

Regional office: 1540 Fort St Victoria, BC V8S 5J2



This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Real Estate General Information
British Columbia Capital Area Victoria Greater Victoria
Canada, eh
Posts to Localism
Local Expert
Canadian Communities
real estate
view royal
oak bay
boomers seniors
saanich peninsula

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Malcolm Johnston
Century 21 Lanthorn Real Estate LTD., Trenton, Ontario - Trenton, ON
Trenton Real Estate

Peter and Linda, it sounds like it's a good time to get into the Victoria real estate market now even if you don't intend to live there for a few years,

Dec 07, 2011 03:55 AM #1
Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC - Victoria, BC
Talk To or Text Peter 250-213-9490

HI Malcolm,

Exactly our suggestion, the market seems to be just about at the right point for many from the country that are likely to relocate to Greater Victoria to take advantage from the slower rebounding that is currently happening here

Dec 07, 2011 04:30 AM #2
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Peter and Linda,

I didn't appreciate that the prices were down in Victoria.

It's a great spot, so obviously, this a good time to buy.


Dec 07, 2011 07:08 AM #3
Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC - Victoria, BC
Talk To or Text Peter 250-213-9490

HI Brian,

That prices sometimes go down, offers an opportunity for people to enter the market and take advantage of the few adjustments


Dec 07, 2011 08:58 AM #4
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
Trusted For Experience - Respected For Results

Peter and Linda - a very convincing argument for purchasing an investment property anywhere not just Victoria ..... but Victoria has a lot of appeal that anywhere just does not have.

Dec 07, 2011 03:26 PM #5
Phil Leng
Retired - Kirkland, WA
Phil Leng - Retired

Hi Peter and Linda,

A very well reasoned post.

If I was moving to Victoria I would seek you out



Dec 07, 2011 10:33 PM #6
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Peter and Linda, very good reasons for purchasing in Victoria. Great Post!

Dec 07, 2011 11:10 PM #7
Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500

Victoria is such a beautiful place too!   Great Post!

Dec 08, 2011 12:28 AM #8
Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC - Victoria, BC
Talk To or Text Peter 250-213-9490

Hi Kathy,

We know that many people will be retiring or relocating to Victoria at some time, timing the purchase of your future home here can make a huge difference.

Hi Phil,

We would love to assist you Phil, The Victoria Market is not just good for those that move here.

Hi Michael,

We know that Victoria is one of the key destinations in Canada, so if you are move hers at some time we can certainly make the investment pay off for our clients by timing it right.

Yvette, Victoria is amazing, we love it more every day

Dec 08, 2011 01:02 AM #9
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY

I like the in depth analysis and example as that really makes it easy to see how this investment would perform. 

Dec 08, 2011 04:29 AM #10
Jo Olson
HOMEFRONT Realty - Kettle Falls, WA
Retired - HOMEFRONT Realty @ LAKE Roosevelt

This is great information! I hope that you will receive a lot of activity on your blog with this!  I love to visit - but with grandbabies I am staying in the local area :).


Dec 08, 2011 06:51 AM #11
Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC - Victoria, BC
Talk To or Text Peter 250-213-9490

HI Morgan,

We try to make it realistic and effective to our readers to see that a smart investment plan for your future retirement can (and should) be profitable....

Hi Jo,

thank you, well I think even your grandbabies will agree...... Victoria is Pfanntastic.

Dec 08, 2011 08:04 AM #12
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.

Talk To or Text Peter 250-213-9490
How Can I be Of Service
Spam prevention