houses for sale courtenay bc

A Renter’s Guide to Owning Houses for Sale in Courtenay BC Canada

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As a young professional in Courtenay, BC, the dream of homeownership may feel both exciting and daunting. With its West Coast landscapes and small-town feel, Courtenay is an appealing place to settle down. Transitioning from renting to owning houses for sale in Courtenay BC Canada, can feel like a significant step, but understanding the process can make it more manageable.

Taking the First Steps to Own Houses for Sale in Courtenay BC Canada

The first step in moving from renting to owning is to evaluate your financial health. Take a close look at your income, expenses, and savings. Establish a budget that allows you to save for a down payment. Ideally, you’ll want to aim for at least 20% of the home’s price to avoid paying for private mortgage insurance. However, there are government programs available that allow for lower down payments, particularly for first-time buyers. Additionally, check your credit score, as a higher score can lead to better mortgage rates.

You’ll also want to understand the local real estate market. Research current costs for houses for sale in Courtenay BC Canada and the surrounding areas to identify what you can afford. Consider factors like neighbourhood amenities, proximity to work, and local schools. Online listings, real estate websites, and community forums can provide valuable insights. 

Before you start house hunting, be sure to get pre-approved for a mortgage. This process involves a lender assessing your financial situation and determining how much they are willing to lend you. Having a pre-approval letter not only clarifies your budget but also shows sellers that you are a serious buyer, making your offers more competitive in a busy market.

Moreover, you may find it valuable to partner with a knowledgeable REALTOR® to simplify the home-buying process. An agent can guide you through listings that meet your criteria and help negotiate offers. 

As you search for your new home, think about your long-term goals. Do you plan to stay in Courtenay for several years, or might you move again soon? A home is a significant investment, so consider whether you’re looking for a starter home or a property that can accommodate your future plans.

Contact Janice Leffler to Learn More About Owning a Home in 2025!

Transitioning from renting to owning in Courtenay is an exciting journey. By assessing your finances, researching the market, getting pre-approved, and enlisting the help of a REALTOR®, you can make informed decisions that lead to successful homeownership. Contact me today for help with your goal of owning a home in Courtenay. Let’s get started on your new year’s real estate resolutions, now!

financial factors for first time buyers in comox valley

Financial factors first-time buyers should consider on their path to homeownership

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Buying your first home is a major milestone . It can be an exciting time, but also can be an anxious one. From mortgages and down payments, to government programs and house hunting, there’s a lot to take in. With the right tools and expertise, it is easy to understand the buying journey. The first step is to make sure you’re financially ready to purchase your first home.

When buying a home, everything comes down to your wallet. Your monthly income, debts, and credit score will determine the size of the mortgage you qualify for. This will determine what kind of home you can buy and in which location.

Here are some financial factors to consider on your path to home ownership:

Assess your fixed and variable expenses

To get a clear picture of the type of home you can afford, you need to understand your finances. Finances include net income, expenses, debts, and your credit score. First, determine your monthly income and expenses, both fixed and variable.

  • Monthly net income: include your after-tax, take-home income. This should include other income sources like commissions, bonuses and dividend profits.
  • Fixed expenses: regular, monthly expenses like rent, car loans, insurance fees, utilities, etc.
  • Variable expenses: these can change from month to month. They are things like groceries, gas, pet care, and discretionary spending such as dining out, concert tickets, personal care, and other lifestyle expenditures.

Calculate your debt-to-income ratio

When assessing your finances for a mortgage, a lender will consider your debt-to-income (DTI) ratio to determine your borrowing risk. The lower the percentage of your DTI, the better.

To calculate this ratio, divide your total monthly debt payments by your gross monthly income. This includes debt such as car payments, student loans, rent and utilities. If your DTI ratio is above 50%, you may need to take steps to lower your debts and expenses to improve your ratio.

Conduct a credit score check

A solid credit score is vital for first-time homebuyers. Usually, a score above 660 is good. It will improve your odds of accessing your preferred mortgage products. A score above 760 is ideal, giving you the best offers and credits available.

By checking your credit score before pursuing a mortgage loan, you can assess what areas may be helping or hurting your score. A missed payment or outstanding balance could make a difference.

Understand a pre-qualification vs. pre-approval

Before you get your heart set on a home, it’s important to differentiate between a mortgage pre-qualification and a pre-approval. Essentially, pre-qualification is a general estimate of your finances. It will show the ballpark range of a mortgage and interest rate you would qualify for today. This can help you to narrow down your home search to property within your price range. A pre-approval is an official assessment by a lender. It will show you the actual mortgage size and rates available to you.

Determine your down payment and closing costs

Sale price and mortgage payments are the obvious costs. There are other visible and hidden expenses that you need to consider when it comes to buying a home. Down payments and closing costs are the main two.

  • Minimum down payment requirements: Your down payment can range from as little as 5% to more than 20%. It will depend on how much you have available to put down. Any homes purchased over $1 million in Canada require a minimum 20% down payment. Homes purchased with less than 20% down will require mortgage insurance.
  • Closing costs and fees: You should estimate that closing costs will equal approximately 3-4% of the purchase price. Legal fees and land transfer tax are included in this percentage. Additional costs such as those related to moving, inspection, etc. you should prepare for in advance.
selling your comox valley home

Considering Selling Your Comox Valley Home?

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Are you considering selling your Comox Valley home? Have you been maximizing your home’s value?

Maximizing your home’s value before a future sale can be achieved. With thoughtful, strategic updates you can make a lasting impact on potential buyers. Start with curb appeal; a well-maintained exterior creates a positive first impression. It sets the tone for the rest of the home.

Simple tasks like fresh paint, updated landscaping, and a new front door can go a long way in boosting the perceived value of the property. Small upgrades to outdoor lighting and an inviting entryway can also enhance the look and feel of the home. These could act to draw in buyers from the start.

Inside the home, focus on key areas like the kitchen and bathrooms. They tend to yield a high return on investment. Simple improvements can give these rooms a refreshed, appealing look without major renovations. Consider things such as modernizing fixtures, repainting walls in neutral tones, and updating hardware.

Decluttering and staging are also essential. They allow buyers to envision their own lives in the space. This will make the home feel larger, cleaner, and more move-in ready. By focusing on these areas, homeowners can increase their property’s value and appeal to prospective buyers. Ultimately this is likely to attain a smoother, more profitable sale.


If you have any questions, don’t hesitate to contact me!

janice leffler real estate in comox valley bc vancouver island

Comox Valley Real Estate – A Year in Review!

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In keeping with tradition, it’s time for this year’s blog rewind! As 2025 gets closer, there’s no better way to end this year’s content than by reflecting on all that’s happened with Comox Valley realty. This article provides an opportunity to catch up on any posts you may have missed or revisit those that might interest you as we enter the New Year. Without further ado, let’s take a look at some of the highlights from 2024!

Looking Back on Winter & Spring for Comox Valley Realty

Jan – Navigating Comox Valley Real Estate in the New Year

2024 was looking ripe with opportunities in January. As such, the first article of the year was focused on market insights for the months to come. 

Feb –  Why Hire a Comox Valley REALTOR® in 2024?

Hiring a Comox Valley REALTOR® to help you during the purchase or sale of real estate is highly recommended. In this article, I went over some of the main reasons why you should consider hiring an agent to represent you on either side of the transaction. 

Mar – Comox Valley Real Estate For Sale: New Transportation Paths

In March, the Comox Valley Regional District (CVRD) set out to build two new active transportation paths. See what the timeline for this project looks like in this article. 

Apr – Points of Interest Near Real Estate in Courtenay

If you’re considering making the move to real estate in Courtenay in 2025, knowing some of the town’s main attractions can be helpful. Learn more about the beloved features of Courtenay, here!

May – All About Buying Waterfront Property for Sale BC

Buying waterfront property for sale in BC in the beautiful Comox Valley is an investment you won’t regret. To help you understand why purchasing a waterfront home in the Comox Valley is so desirable, I put together a list of reasons.

Reflecting on Summer & Fall on my Blog

Jun – A Guide to Real Estate in the Comox Valley for Retirees

As a retiree, there’s a lot to consider when choosing your retirement home. In this post, I went over some of my top tips for finding real estate in the Comox Valley as a retiree! Check it out if you’ll be retiring in 2025.

Jul – Summer is the Best Time to Buy Houses for Sale in Courtenay

When summertime rolled around, I focused on helping buyers achieve their goals of homeownership. This article highlights why summer is a great time to purchase your dream property.

Aug – What’s Happening in Comox This Month: Key Updates for the Community

In August, I switched things up and provided you with some community news. Check out this post to see what was happening in Comox Valley at the end of summer!

Sept –  What to Know About Selling Houses for Sale in Courtenay BC

Selling your home in Courtenay can be a great way to cash in on your real estate investment and move up the property ladder. In this article, I gave you the low down on selling homes in Courtenay, BC.

Oct – Work with Janice Leffler, Your Trusted Local REALTOR® and Discover Why Comox Valley is the Perfect Place to Call Home

In this article, I focused on providing information about why Comox Valley is such a great place to call home. I also provided some reasons why you should consider entrusting me to be your agent. 

Nov – Putting up a Suite in Your House for Rent Courtenay

Renting out a suite in your home can be a great way to generate additional income for the New Year. Curious about what you need to do to get your basement suite renter ready? Check out this blog post!

Contact me Today!

Contact me today if you have any questions about buying or selling Comox Valley realty. Thanks to everyone for another awesome year! I look forward to working with you again in 2025. Be sure to check back in January for more blog content. Happy holidays everybody!

suite in house for rent courtenay

Adding a Suite in Your House for Rent Courtenay

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Renting out a suite in your home can be a great way to generate additional income, especially in a growing community like Courtenay. With its classic PNW nature, friendly neighbourhoods, and increasing demand for rental properties, Courtenay is an ideal location to attract renters. However, preparing your suite for the rental market involves more than just listing it online. From ensuring it meets legal requirements to creating an appealing living space, there are several factors to consider to maximize your success as a landlord. Let’s take a look at some of these!

Preparing and Listing the Suite in Your House for Rent Courtenay

Before renting out your suite, it’s essential to confirm that it complies with local regulations. Check Courtenay’s zoning bylaws to ensure your property is eligible for rental use. You can do so by verifying that your suite meets building code standards, including fire safety and adequate amenities like separate entrances, kitchens, and bathrooms. Applying for the necessary permits, if applicable, is a crucial first step.

Next, focus on making the suite attractive to potential renters. Clean and repair the space thoroughly, ensuring walls, floors, and fixtures are in good condition. A fresh coat of neutral paint can make the suite more inviting. Consider offering modern amenities like in-suite laundry or updated appliances, as these can make your property stand out in the competitive rental market.

When setting the rent, research current market rates in Courtenay to stay competitive while covering your expenses. Platforms like Craigslist, Facebook Marketplace, and local property management websites are great tools to market your listing. Include high-quality photos, detailed descriptions, and information about nearby attractions, such as local parks or shopping centers, to appeal to renters.

Finally, applicants should be screened carefully by conducting background and credit checks. This step ensures you select reliable tenants who will respect your property and pay rent on time, giving you peace of mind as a landlord.

Contact me About Renting a Portion of Your Home!

If you are interested in renting out a suite in your house for rent Courtenay or buying an investment property,  I encourage you to contact me today! Moreover, if you have any questions about real estate for sale in the Comox Valley, be sure to reach out to me! I am excited to get your aspirations on track. A home in the Comox Valley is a great asset to have. Be sure to check out my social media, and return next month for more real estate-related content! I look forward to working with you in the near future.

weather in comox valley and the impact on homes for sale vancouver island

Are You Considering Weather When Buying a Home on Vancouver Island?

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You consider price, location, commute time, and school districts when house hunting. Have you thought about adding climate and weather-related risks to your list?


Heat waves, severe flooding, violent hailstorms, tornadoes, rising sea levels, and raging wildfires—these extreme weather events all present major challenges for Canadians. This includes those in the market to buy a home.


Changing climate conditions means home buyers should be asking lots of questions and thinking about how the weather could impact their property. For example, if your dream house is in a neighbourhood susceptible to floods, how much will you have to dole out for added insurance?


Will excessive amounts of snow make commuting a huge pain, or even damage your roof? Will your area’s rising temperatures impact how much you pay for air conditioning? Here’s what you need to know.

The cost of extreme weather hits the real estate market—and your wallet

Major weather events seem to be a more regular occurrence these days. With an increasing number of climate-related storms, fires, and floods comes a surge in insurance claims, which have more than doubled since 2005.


Kathryn Bakos is managing director of finance and resilience at the Intact Centre on Climate Adaptation, University of Waterloo. She conducts research on the impact of flooding on Canada’s residential real estate sector and mortgage markets.


“We’re seeing extreme weather events growing, and we track the catastrophic loss claims data— any event that triggers $25 million or more of insured losses, which is what your insurance company pays out—from flood, wildfire, hailstorm on a year-to-year basis,” says Bakos.


From 1983 to 2008, insurable losses ranged from $250 to $450 million per year. Today, they’re up to $2 billion annually. And that’s just what insurance companies pay out. So, if the average flooded basement costs $43,000 to repair, there’s a cap on what insurance covers. That cap would usually be $10,000 to $20,000. The rest comes out of the homeowner’s pocket.


Flooding and wildfires are the costliest extreme weather events in Canada. In Calgary and Edmonton, hailstorms cause most damage, while East Coast residents deal with severe lightning storms and hurricanes, according to Bakos.


Recently, Bakos’ team performed the first quantitative analysis of the impact flooding has on the Canadian housing market, and the numbers were alarming. “We determined that six months after a flood event, homes located in flooded communities experienced an 8.2% reduction in the sold price of their home compared to their non-flooded counterparts,” she says.


With the average Canadian home worth roughly $650,000, that would equate to about a $53,000 reduction in value. Roughly 1.5 million Canadian homes, about 10% of the housing market, are considered uninsurable for flood risk.

Do your due diligence when shopping for or protecting your home

The federal government plans to develop the Climate Adaptation Home Rating Program. Canadian home buyers could check to assess the risk associated with their property. Until then, Bakos recommends doing some research into any major floods in the area you are looking at. Ask if the property sits on a floodplain. Does the driveway slope away from the home to help prevent water from seeping in? Does the home sit up on the street? Does it have extended downspouts to direct rainwater away from the house?

If your basement windows are at ground level, are there window well coverings? Is there a sump pump and backwater valves in the basement? These all stop water from coming in. Cleaning out your eavestroughs and sweeping leaves away from sewer grates helps to prevent flooding. In some areas, installing hail-resistant roofing and siding material will help guard against hail damage.

Other preventive tips for homeowners who are buying a Home on Vancouver Island

Wildfire zones

  • Look for homes with ample separation between them.
  • Look for homes with Class A roofing/metal roofs and non-combustible siding.
  • Standard homeowner insurance policies in Canada cover damage caused by fires, and also provide coverage to help with the cost of mass evacuations
  • Keep combustible materials at least 10 metres away from your home.
  • Prune trees to create a 2 m clearance from the ground to the lowest tree branches.

Severe winter storms

  • Arrange for snow or ice removal from roofs and balconies to reduce the weight and the risk.
  • Keep your home stocked with the essentials in the event of a power outage or road closures due to snow or ice.
  • Ensure your walls are properly insulated, your weather stripping is in good shape, and consider storm windows.
  • Install snow fences in rural areas to reduce drifting snow on roads and paths.

Tornadoes and hurricanes

  • Consider using class 4 impact-resistant roofing when completing upgrades or repairs.
  • Most home insurance policies cover windstorm or tornado damage such as losses caused by flying debris and falling branches or trees, and losses to your home and contents if water enters through openings caused by wind or hail.
  • Home insurance policies generally do not cover damage caused by coastal flooding and storm surges.
  • Be aware of large or aging trees on a property that could be at risk of falling or breakage due to strong winds.

Knowing your climate risk helps prepare you for future costs. As your REALTOR®, I can provide insights on the neighbourhood and what it usually experiences, so please, tap into my expert local insight.

mortgage changes in bc real estate

Navigating through mortgage changes in BC real estate

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Recent changes in the housing market present exciting opportunities for homebuyers. As your Comox REALTOR®, I can guide you through these updates. A mortgage broker can help you build effective plans to achieve homeownership goals. In this way, you can establish what you are able to afford. This is one way to streamline your search for a property.

Knowing these new rules and guidelines will help with strategy and future goals of climbing the “real estate ladder.”

Expanded amortizations for first-time homebuyers

Starting December 15, first-time homebuyers will have access to 30-year amortizations. This change can be of benefit in two significant ways:

  1. Lower income requirement. By extending the amortization period, the income required to qualify for a home purchase decreases. This means more buyers can meet the necessary criteria.
  2. Reduced monthly payments. A decrease in monthly payments will make homeownership more financially manageable. For instance, on a $600,000 purchase, the monthly payment could drop by approximately $250, providing greater flexibility in budgeting.

Increased insured mortgage cap to $1.5 million

High income, but difficulty saving for a down payment? An increase in the insured mortgage cap to $1.5 million can accelerate your path to homeownership. Previously, purchasing a $1.4 million home required a down payment of $280,000. Now, as of December, clients can potentially purchase the same property with a down payment of about $115,000. This will save a whopping $165,000.00 in upfront requirements.

This change is also advantageous for “right-sizers” who want to downsize. It allows the buyer to allocate more funds from the sale of their larger home toward retirement. Then you can put less down on a new, smaller property. However, you should keep in mind that closing costs, typically between 2 and 4 percent of the purchase price, need to be accounted for in each scenario.

For a $600,000 purchase price, anticipate that clients will need an annual income of approximately $150,000 to meet today’s stress-test requirements.

Switching lenders at renewal: A business opportunity awaits from mortgage changes in BC real estate

While you may not initially think about how switching lenders can benefit you, it’s essential to understand that mortgages encompass more than just interest rates. The Canadian Mortgage Charter now allows insured mortgage holders to switch lenders at renewal without undergoing a stress test. This change opens up opportunities for borrowers to shop around for better rates and terms, potentially saving thousands of dollars.

Tax-efficient savings strategies around mortgage changes in BC real estate

As well, two important tax-efficient savings methods have emerged that can empower you on your journey to homeownership:

  1. RRSP withdrawal limit increase. The amount that can be withdrawn from an RRSP has increased from $35,000 to $60,000 per borrower. This change provides additional funds for you to put toward your down payment.
  2. First-time home saver account. Introduced in 2023, this account allows you to save $8,000 per year in contribution room, which reduces your taxable income.

Unlike RRSP withdrawals, funds from this account do not need to be repaid and any gains earned within it are tax-free. This account, however, has a sunset clause in 2028, making it vital for clients to act quickly to maximize its benefits.

These recent changes create valuable opportunities for purchasers. Make informed decisions on your path to homeownership. Speak to your mortgage broker about the implications and opportunities surrounding expanded amortizations, increased mortgage caps, flexible lender options, and tax-efficient savings strategies.

Call me if you would like to connect with a competent, knowledgeable, and experienced mortgage broker.

canadian real estate in wake of US election results

Canadian real estate in wake of US election

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Surrounding the US election on November 5 there has been a spike in interest in Canadian real estate for sale.

Royal LePage found visits to its website from our neighbours to the South have risen significantly since the presidential campaign began.

US Searches More Than Doubled

According to Royal LePage, U.S.-originated sessions to royallepage.ca more than doubled. They surged 104 percent week over week, 67 percent year over year, in the week of June 16 just before the first presidential debate.


The following week, after the debate between President Joe Biden and then-presumptive Republican nominee, Donald Trump, traffic peaked with an additional four per cent increase in visitors over the week prior. Phil Soper, CEO of Royal LePage, said trends were similar in 2016, prior to Donald Trump being elected. “It’s not surprising in this incredibly divisive American presidential election that they are attracted, at least emotionally, to the concept of getting away from it all,” he said. “I think that’s probably the biggest message in this surge in American interest in Canadian properties. Call it internet therapy.”


Most of the Visitors to the Site Came from Democratic States

Soper said most of the visitors to the site came from Democratic states. Interest from a Republican-leaning state, South Carolina, was also prominent. “Canada is the nation on earth that most closely resembles the United States,” he said. “Dreaming of Toronto, Montreal, Calgary, Vancouver is an American election sport.” Ryan Neely, a partner with McCrea Immigration law, said he’s fielding calls daily during this year’s election campaign – mainly from those in Blue states. “We’ve had an increase in what we call cold calls,” he said. “People who have just found us on the internet and are saying, ‘Well, listen, we’re interested in Canadian immigration.’” Despite the aspirations to immigrate to Canada, Neely said in actuality, the conversion rate to becoming a permanent resident is low.


“But there is a core group of people who are dedicated to doing it.” That group, he said, often includes young families or those who have been struggling with the decision to move for a long time. More restrictive immigration policies favoured by Trump could also lead to an influx of skilled workers and families seeking to relocate north of the border. This could drive up housing demand in major urban centers, particularly in Ontario, Alberta, and British Colombia, and put upward pressure on prices.

Factors to Consider Before Moving to Canada

Other considerations for people from south of the border would obviously be that there is currently a ban on foreign buyers in Canada. There are some areas outside larger centres where they are not restricted.

Another factor that could be affected by the change in government in the US is more interest rate cuts in Canada. The Trump administration policies are expected to stoke economic stimulus. One way to do this is to set aggressive rate cuts. Typically Canada follows that lead which would mean lower mortgage payments, and more people getting into the real estate market.

Contact Me For Real Estate in Comox Valley!

As always, if you’re looking for local advice on the real estate market and what’s happening in Comox Valley then get in touch with me today! I would love to help you with timely advice, buying or selling or your property here on Vancouver Island.

comox valley homes for sale with janice leffler

Work with Janice Leffler, Your Trusted Local REALTOR® and Discover Why Comox Valley is the Perfect Place to Call Home!

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Comox Valley, British Columbia

Located on the eastern coast of Vancouver Island, Comox Valley is a picturesque community known for its stunning natural beauty. With mountain views, rivers, and ocean access, it offers a year-round outdoor lifestyle perfect for families, retirees, and adventure seekers. From local markets and top-rated schools to a thriving arts scene, Comox Valley has small-town charm. Coupled with urban conveniences, makes it one of the most desirable places to call home in British Columbia.

If you’re planning to buy or sell in this area, Janice Leffler is the REALTOR® to trust. With decades of experience and deep local knowledge, Janice has helped countless clients achieve their real estate goals in Comox.

Why Comox Valley is a Great Place to Live

Comox Valley offers a unique blend of natural beauty, vibrant community life, and endless recreational activities. Whether you’re drawn to the valley for its stunning coastline, majestic mountains, or charming downtown areas, there’s something for everyone. Residents enjoy a mild climate, making outdoor activities like hiking, kayaking, and skiing accessible throughout the year.

Comox Valley is also home to excellent schools, making it a popular choice for families. The strong sense of community is evident in its local farmers’ markets, festivals, and cultural events. All of which contribute to the area’s lively, welcoming atmosphere. It’s easy to see why people choose to call Comox home, with its range of homes. You can find everything from waterfront properties to cozy single-family homes here.

Janice Leffler: Your Local Real Estate Expert

With over 30 years of experience, Janice Leffler is one of the most trusted and well-respected REALTORS® in the Comox Valley. Her extensive knowledge of the area and commitment to providing personalized service have made her the go-to expert. Janice’s client-first approach is built on transparency, integrity, and a deep understanding of what makes the Comox Valley market unique.

Her track record speaks for itself: long-term clients who return to Janice time and time again because of her consistent results and dedication. Whether you’re looking to buy your first home, downsize, or sell a property, Janice offers expert guidance at every step, ensuring that your real estate journey is as smooth and stress-free as possible.

Why Choose Janice Leffler as Your REALTOR®?

Choosing the right REALTOR® is key to a successful buying or selling experience, and Janice Leffler stands out in Comox Valley for several reasons. First and foremost, her in-depth knowledge of the local market ensures that her clients are always positioned for success. She knows which neighbourhoods offer the best value, how to price homes competitively, and which properties have the most investment potential.

Janice’s professionalism and attention to detail make her a cut above the rest. For sellers, she provides tailored marketing strategies, professional staging advice, and high-quality photos that showcase properties at their best. For buyers, Janice’s local connections allow her to find hidden gems and help her clients navigate the competitive market with ease. Her negotiation skills ensure her clients always get the best deal possible.

Moreover, Janice’s commitment to client satisfaction is what truly sets her apart. She takes the time to understand each client’s needs and goals. As a result, she offers a personalized approach that is rare in the industry. This client-first mindset is reflected in the glowing testimonials from her long-term clients, who often praise her professionalism, knowledge, and genuine care for their real estate needs.

Janice’s Process: Helping Buyers and Sellers

For Buyers:
Janice Leffler’s process for buyers begins with a thorough consultation to understand what her clients are looking for in a home. From budget to location, she leaves no stone unturned to ensure she finds the perfect property that fits both lifestyle and financial goals. With her deep knowledge of the Comox Valley, Janice provides insights into local neighbourhoods, schools, and amenities, helping buyers make informed decisions.

Once the ideal home is found, Janice handles the offer process and negotiations with confidence, ensuring her clients secure the best possible deal. Her calm, steady guidance throughout the buying process makes even first-time homebuyers feel comfortable and supported.

For Sellers:
When it comes to selling a home, Janice’s comprehensive approach ensures that her clients’ properties receive the attention they deserve. From staging to pricing, she handles every detail to help sellers maximize their return. Her marketing strategies include professional photography, targeted online ads, and hosting open houses to attract serious buyers. Janice’s hands-on approach means that her sellers are always informed and in control of the process, from listing to closing.

Client Success Stories

Janice Leffler has built her career on long-term relationships with clients who trust her expertise and dedication. Here are some stories from repeat clients who have worked with Janice for years:

  • Laura M., a long-time client, shared:
    “Janice has been my REALTOR® for over 20 years, and she has helped me buy and sell multiple homes in the Comox Valley. Her knowledge of the area and professionalism are unmatched. She makes the process so easy, and I wouldn’t trust anyone else with my real estate needs.”
  • Ken & Lisa, repeat buyers, praised Janice’s expertise:
    “We’ve worked with Janice on both buying and selling homes, and she always delivers results. She knows the market inside and out and is always there to answer our questions. We couldn’t be happier with the service she’s provided over the years.”

These stories reflect Janice’s ability to build trust and deliver consistently outstanding results, which is why so many clients return to her again and again.

Ready to Buy or Sell in Comox Valley? Contact Janice Today!

If you’re thinking of buying or selling in the Comox Valley, don’t hesitate to reach out to Janice Leffler. With her decades of experience and deep local knowledge, she is the perfect partner to guide you through the real estate process. Contact Janice today to start your journey toward finding the home of your dreams or selling your property for top dollar!

home staging in comox valley

Expert Tips for Staging Your Home in Comox

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You can improve your chances of getting offers and selling your home in the least amount of time for the best possible price by doing a few things. Whether it is a buyers’, a sellers’ or a balanced market there are some ways to make the best first impression.

Clean and Declutter:

Clean, clean, and clean some more! You might not be able to stage each room in your home.However, it is vital to ensure each space is cleaned and decluttered. Ensure that counters, carpets, flooring, and appliances are spotless! This not only signals pride of ownership, but it helps display the potential of the spaces to buyers.

Depersonalize:

Make sure to depersonalize while you’re working through and clean your spaces. Ideally, family photos, kids’ drawings, etc, should be removed or replaced. This will appeal more to potential buyers and help them focus on the home they are viewing.

Focus on Key Spaces:

The primary areas in your home are your living room, kitchen, dining room, and master bedroom. If you are not able to get to each room, these are the ones you should focus on to ensure your home is represented as best as possible.

Consider a Fresh Coat:

Did you know? According to a renovation investment report, 36% of buyers prefer a fresh coat of paint! This can go a long way to making your home look new and revitalized.

Boost Curb Appeal: While you’re staging your home, don’t forget about curb appeal! The exterior of your home may be even more important for first impressions. Just as it is key for the interior to be spic and span and minimalistic, the outside is the first thing a buyer sees. For first impressions, a good place to start would be renting a power washer to scrub down your driveway and exterior siding.

Whether you are in Courtenay, Comox, Regina or Halifax, you cannot discount the importance of making a good first impression when potential buyers come to view your property. It may well be the first and last thing they think about before deciding which home to make an offer on.

Get in touch with me today, for more tips on Staging Your Home in Comox!

courtenay bc real estate for sale janice leffler

What to Know About Selling Houses for Sale in Courtenay BC

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Fall is a great time to get in on the real estate market in Courtenay before the holiday season arrives. Selling your home in Courtenay can be a great way to cash in on your real estate investment and move up the property ladder. Alternatively, you may consider selling to downsize into a smaller property. Whatever your reason may be for selling houses for sale in Courtenay BC, it’s important to know the ins and outs of listing real estate for sale on the Island. In this article, we will give you the low down on selling homes in Courtenay, BC. Follow along below to learn more. 

Preparing to Sell Your Home on Vancouver Island

Before listing your property, it’s crucial to understand the current market conditions on Vancouver Island. Research recent sales data, analyze neighborhood trends, and seek advice from a local real estate agent. This knowledge will help you set a competitive price and make informed decisions. A well-priced home will attract more buyers, while an overpriced one may sit on the market too long. Working with a seasoned local REALTOR® will also provide excellent guidance on pricing, marketing strategies, and negotiations.

Moreover, preparing your home for sale can significantly enhance its appeal. Small updates like fresh paint, landscaping, and minor repairs can make a big difference. Decluttering and depersonalizing the space allows potential buyers to envision themselves living there. On the island, highlighting your home’s unique selling points—such as ocean views, outdoor spaces, or proximity to amenities—will help set your property apart from others on the market.

As a seller, you’ll also want to leverage online marketing to expand your reach. High-quality listing photos, videos, and detailed property descriptions can attract more potential buyers. Collaborate with your real estate agent to create an engaging digital presence, using social media, virtual tours, and real estate portals. A strong online strategy, combined with your agent’s expertise, will help generate interest in your listing and ensure a smooth selling process.

Contact me About Houses for Sale in Courtenay BC

If you are serious about selling houses for sale in Courtenay BC this autumn, I encourage you to contact me today! Moreover, if you have any questions about real estate for sale in the Comox Valley, be sure to reach out to me! I am excited to get your aspirations on track. A home in the Comox Valley is a great asset to have. Be sure to check out my social media, and return next month for more real estate-related content! I look forward to working with you in the near future.

gen z home buyers in comox valley

Relocating or lifestyle changes are worth it if Generation Z adults can get into the home ownership market.

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According to a survey conducted this year by Royal LePage, 83% of 18 to 38-year-olds in British Columbia believe that home ownership is a worthwhile investment. Of those who are not yet homeowners, 77% say they plan to purchase a primary residence in their lifetime. Even though they realize it is expensive to own a home, it is a priority for them.

The positive association with owning real estate amongst the younger generation was not altogether unexpected. What is surprising and promising is the practical and purposeful way they are tackling the affordability barriers.

They are focused on saving for a down payment which is often the most difficult hurdle buyers face.

Purchasing in larger urban markets like Vancouver might not be attainable. However, smaller markets such as the Comox Valley may reap the benefits. The overall sentiment from this demographic is that owning their home, regardless of the property type, is a valuable and worthwhile long-term investment.

To achieve this, they are willing to make lifestyle adjustments or find alternative ways to enter the market. This may include purchasing with friends or family. It may mean buying a property with the intention of renting part of it to a tenant. It can even mean relocating to more affordable areas.

For many of these young buyer hopefuls, current higher lending rates are a major barrier. Keeping potential buyers in the rental market longer.

Now that rates are edging lower, we may begin to see more of these potential homeowners move away from renting and into purchasing.

Among respondents in British Columbia who do not currently own a primary residence, 75% say that owning a home is a priority. Approximately half of all who responded (51%) really believe this is an achievable goal. The other 49% are split between being unsure whether they will be able to buy and those who are convinced they will not be able to own a home.

When asked why the goal of home ownership is important to them, the vast majority say they would like their own permanent place to live. Other factors they consider are the stability of owning and the restrictive landlord-tenant policies when renting.

Homeownership is a highly valued milestone for many in the Generation Z and young millennial demographic. This makes it a key priority for their future.

While some young buyers expect to receive financial assistance from their families, others are assessing their finances and making the necessary adjustments to reach their goals. They are doing a thorough analysis of their income and spending habits, and are cutting back on expenses where possible.

Remember that opportunities exist in every market. Don’t feel pressured to act immediately. Take the time to ask questions, understand, and become comfortable with the opportunities available to you.

I am here to help you with that goal and explain some of the options and possible solutions. Get in touch today!

Summary

● The Royal LePage® 2024 Demographic Survey on the Next Generation of Buyers revealed
that 84% of respondents nationally believe in home ownership as a worthwhile investment,
with variations across provinces. 1
● 51% of respondents nationally currently own their primary residence, while 35% are renting
and 13% are living rent-free.
● 74% of non-homeowners consider owning a home a lifetime priority, citing reasons such as
seeking stability and financial benefits. 2
● 54% of those prioritizing home ownership believe it is achievable, with 20% thinking it is not
achievable.
● 75% of those prioritizing home ownership plan to purchase a home in their lifetime, with
varying timelines for purchase, including 40% aiming to buy within the next 5 to 10 years. 3
● The Home Purchase Survey by Hill & Knowlton highlighted various steps taken towards
home ownership, such as saving for a down payment and reducing discretionary spending.
● Respondents reported delaying or eliminating major life decisions to save for a home, with
some receiving financial assistance from family. 4
● Canadians showed openness to alternative options for affording a home, including rental
income and co-owning programs.
Little Impact to Comox Real Estate Market From Lower Interest Rates

Little Impact to Comox Real Estate Market From Lower Interest Rates

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So far, the Bank of Canada’s interest rate cuts are having little impact on housing markets in the Comox Valley. Activity in real estate markets has remained relatively weak with home sales below historical averages in July and August. New listings are edging upward, prices seem to have leveled and residential mortgages are lukewarm at best.


In the second quarter of the year mortgage balances grew by just 3% annually. This is the second slowest quarterly pace since 2000.


A lower debt-to-income ratio reduces the vulnerability of people who are trying to purchase and there may be more good news to come.


If the current trend to reduce interest rates continues, it should lead to a gradual increase in housing activity. Welcome news for sellers and buyers alike, it is expected rates are on the road to more decreases which should spark further interest later this year.

New Construction remains strong in Comox Real Estate Market

While the resale market has been sluggish, new construction is strong. The surge of residential starts is dominated by multi-unit construction. Apartment and condominium construction is healthy at just below recent all time highs experienced in 2021. Single family new builds have been weaker, but are still ongoing.


A shortage of construction workers, zoning restrictions and supply bottlenecks, along with slow municipality response, is not helping. This has led to delayed completions and brought the number of dwellings under construction to record highs.


Recent provincial government legislation is designed to alleviate some of these situations, but it remains to be seen whether it will. Courtenay, Comox, Cumberland, and other locales have reset some of their bylaws to allow increased capacity. It is much too soon to see whether this will improve timelines for permits and other approvals. Economic growth has slowed to about 1% this year and isn’t expected to do much better next year. The costs of running a household don’t seem to be coming down. Easing of interest rates and other measures introduced by provincial and federal governments should allow housing markets to recover this year and next.

Check with me to find out what the real estate trends are in the Comox Valley. I am always available to provide you with more and better information so you can make informed decisions and realize your housing dreams.

comox valley home

Eco-friendly updates for your Comox Valley home

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Eco-conscious living is here to stay. What it means is to be aware of how our actions can impact everything around us. The term also relates to consideration of how our lifestyle can impact the environment. The goal of being eco-conscious is to minimize the negative effects we can create.

This mindset has expanded to large corporations and governments that are getting involved in making changes that will create a more sustainable future for our planet. The federal government is now giving monetary incentives to homeowners for adding eco-friendly upgrades to their homes.

Businesses and municipalities have a myriad of programs and incentives as well.

In BC, the programs range from hydro upgrades to more energy-efficient homes (greener) to refunds for those who borrow to buy, build, or renovate. There are rebates for energy-efficient washers, dryers, doors, windows and fireplaces.

For municipalities, it extends to incentives for energy-efficient retrofits and new construction. Rental buildings get in on the programs with help to make building changes that will save money, energy, and water. The freight industry is included also with money to aid in reduced fuel consumption and greenhouse gas emissions.

These are just a few of the possible ways to benefit from receiving funds from our federal tax dollars to increase the sustainability of our resources.

When it comes to your Comox Valley home, here are four simple eco-friendly updates.

They can be easily implemented in your home:

  1. Heating and cooling your Comox Valley Home
    A smart thermostat will reduce your carbon footprint and your monthly energy bill by optimizing energy efficiency. It can be controlled remotely, learn your temperature preferences, and automatically adjust settings to improve energy efficiency based on your habits and local weather conditions. To make this upgrade even more effective, replacing old windows and adding new insulation will prevent heat from escaping your home.
  2. Rainwater harvesting
    This eco-friendly addition to your home is a sustainable way to care for your landscaping. Harvesting rainwater can also conserve energy, reduce strain on the municipal water system, and save you money. There are many methods of collecting rain. Catch the droplets in a large container or a DIY rain barrel or employ affordable and ready-to-use options and elaborate systems with filtration and pumps.
  3. Energy-efficient systems
    Technology is constantly evolving. Great advancements have been made in the way our homes run. From your HVAC system to your fridge and stove, to LED light bulbs, investing in energy-efficient upgrades is
    worthwhile. These systems utilize advanced technologies to perform tasks more efficiently. This results in reducing electricity and water consumption, and lowering both your energy bill and your carbon footprint. Check for energy efficiency certifications when making a new purchase.
  4. Eliminate single-use plastics
    The federal government has implemented policies aimed at reducing single-use plastics. To address environmental concerns, items like straws, cutlery, stir sticks, and certain types of plastic bags have been banned. The goal is to achieve zero plastic waste by 2030. This is a monumental task considering Canadians throw away over 3,000,000 tons of plastic waste every year.

Here are six manageable ways to reduce the use of plastics in your Comox Valley home:

● Replace plastics with reusable alternatives, like glass or metal straws, stainless steel water bottles and travel mugs, and beeswax wraps or silicone food storage bags
● Look for products with minimal or eco-friendly packaging
● Buy supplies in bulk to eliminate use of packaging
● Choose cleaning products, personal care and food items with refillable options Compost organic waste to avoid using garbage bags
● Check if something can be repurposed or repaired before throwing it away

BONUS TIP:

Choosing to live sustainably also includes mindful consumerism. Opt for second-hand shopping. Sell and donate your own unwanted items. This creates a positive impact on the environment by reducing waste in landfills. It also decreases the environmental footprint associated with manufacturing At the end of the day, you can feel good about your efforts and possibly save a lot of money!

As always, please reach out to me if you’re looking to buy or sell real estate in the Comox Valley. I would love to help you with your next home!

first time buyers mortgage pre qualification vs pre approval

Mortgage Pre-Approval vs. Pre-Qualification

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Are you a first-time buyer wanting to buy your first home?

Maybe you are already a homeowner and are thinking about making a move.

Whatever your purpose and current situation is, there are things you can do in advance. When it comes to getting a mortgage, these things can be done to make the mortgage process easier!

Pre-Qualification for Buying your first home in Comox

Getting pre-qualified for a mortgage will give you a general idea of what you can afford. This helps you to focus on a particular price range when you start working with a realtor and shopping for your new home. Pre-qualification will look into your financial position and identify your budget for a home. It will also define what you can afford for monthly payments. It will let you know what top-end price you can manage. In this way, you won’t be disappointed. Say, for example, you go out looking, to find a house you love, only to learn you will not be able to make the monthly mortgage payments for that property. This scenario only leads to frustration!

Pre-Approval: Getting pre-qualified will give you a ballpark estimate of what you can afford for Buying your first home in Comox.

Pre-approval will say what you actually do qualify for in a mortgage. It will tell you what that mortgage amount is, based on your current income and credit history. The lender will state this in writing so you can be confident when you start your home search. A pre-approval usually specifies a term, interest rate, and mortgage amount. It is typically valid for a brief period, assuming various conditions are met. The period of time could be 2 or up to 4 months. This means you can shop for that home that’s in your budget and would have to find and complete a purchase within that time frame.

There are a few benefits to pre-approval which include:
● Confirming the maximum amount you can afford to spend
● Securing an interest rate for 90-120 days while you shop for your new
home
● Letting the seller know that financing should not be an issue. This is extremely important in competitive markets. If there are lots of buyers and not as many properties to choose from, it could be the difference
between having an offer accepted or being left out.
● Keep in mind that once you get your pre-approval, you do not want to jeopardize it.

Until your mortgage application and sale is completed, be sure you don’t do the following:

  1. Quit or change jobs
  2. Buy a new car or trade up
  3. Transfer large sums of money between bank accounts
  4. Leave your bills unpaid
  5. Open up new credit cards.

You do not want your financial or employment details to change at all until you have closed on the new mortgage.

Do you need help figuring out where to start when it comes to buying your first home in Comox? Reach out to me today and I would be happy to lend my expertise! Get in touch with me now!

whats happening in comox

What’s Happening in Comox This Month: Key Updates for the Community

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As a dedicated REALTOR® serving the beautiful Comox Valley, I’m always eager to share the latest community news with you. Whether you’re a long-time resident or considering making Comox your new home, staying informed about local developments is essential.

Here are some recent updates that might interest you.

1. Air Quality Monitors Installed in Public Buildings kicks off what’s happening in Comox this month!

The Town of Comox is taking proactive steps to ensure the health and well-being of its residents. Recently, air quality monitors have been installed in various public buildings around town. These monitors will help keep us all informed about air quality levels, enabling the community to work together on maintaining a healthy environment. It’s another great reason to feel confident about living in Comox, where public health is a top priority.

2. Traffic Advisory: Expect Delays Due to Sewer Inspections

From August 12 to August 30, 2024, be prepared for some road delays as Pipe-Eye Video conducts video inspections of the sanitary sewers in different areas of Comox. While this might cause some temporary inconvenience, these inspections are crucial for maintaining the town’s infrastructure and preventing future issues. If you’re planning to drive around town during this period, consider allowing extra time for your travels.

3. Fall Comox Valley Recreation Guide is Now Available

The much-anticipated Fall Comox Valley Recreation Guide has been released, and registration is now open! Whether you’re interested in fitness classes, arts and crafts, or youth programs, there’s something for everyone. The guide is available online, so you can easily explore the various offerings and sign up for your favorite activities. It’s a perfect way to stay active and engaged as the seasons change.

4. What’s Happening in Comox? Music in the Park Returns with Leroy Stagger

Mark your calendars for Sunday, September 1st, as the Town of Comox celebrates the return of its popular “Music in the Park” event. This year, the summer concert series will feature the talented headliner Leroy Stagger. It’s an excellent opportunity to enjoy live music in a beautiful outdoor setting, connecting with friends and neighbours in the community.

5. Public Health and Safety Alerts

Comox has seen a few important public health and safety alerts this month. Firstly, death cap mushrooms, which are highly toxic, have been found near Filberg Park. Residents are advised to stay vigilant and avoid contact with these mushrooms. Additionally, there was a heat warning issued for the area, which was thankfully rescinded as of August 10th. As always, it’s essential to stay informed and take necessary precautions during such events.

6. Exciting New Developments in Local Parks

Highland Park has recently added a new misting station and water fountain, perfect for cooling off during the summer heat. This addition is part of the town’s ongoing efforts to enhance public spaces and provide residents with comfortable, enjoyable amenities. Additionally, construction is set to begin on the Lazo Greenway Multi-Use Path, which will offer a new recreational space for walking, biking, and enjoying the natural beauty of Comox.

7. Community Mourning the Loss of a Colleague

Lastly, the community is mourning the loss of a valued colleague, as indicated by the flags at Town Hall being lowered to half-mast. It’s a poignant reminder of the tight-knit nature of our community, where each member is cherished and remembered.

Stay Connected with What’s Happening in Comox and Community Updates

Whether you’re new to Comox or a long-time resident, these updates highlight the town’s ongoing commitment to improving the quality of life for all its residents. If you have any questions about these developments or are interested in exploring real estate opportunities in Comox, feel free to reach out. I’m here to help you make the most of what this wonderful community has to offer.

bank of mom and dad

The bank of mom and dad: Taking extremes to secure children’s homeownership dreams in steep markets

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In this economy, the Bank of Mom and Dad is more popular than ever.

It’s no secret that it’s harder to buy a home now than when they were young. Canadian parents have passed billions of dollars to their adult children in recent years. It is intended to give them a leg up when entering the housing market or in changing circumstances. Up against ever higher prices, limited supply, stringent mortgage requirements and steep interest rates and taxes, they want to help.

The unprecedented transfer of wealth is in part due to a fear of missing out. , Parents want to do all they can to ensure their kids are able to realize homeownership before it’s completely out of reach.

Embracing extreme measures before homeownership completely out of reach

In the past five years, this has gone beyond providing a loan or helping with the down payment. Parents are now, in some cases, making installment payments or becoming guarantors. The latter makes them liable for mortgage payments if their son or daughter defaults. Many are going on title as co-signers to help their offspring qualify for a mortgage.

Other tactics being used amount to pulling funds out of their retirement savings or using equity from their own home. These, including a second mortgage or home equity line of credit to assist, potentially puts their own retirement at risk.

Suggest clients get legal advice if asked about parents loaning or gifting money to kids

It’s wonderful to be able to help get your struggling offspring launched. Some are getting a little too comfortable in the basement. Realtors, parents and their kids need to be aware of the potential risks in these situations.

If things go sideways, realtors and parents may be exposing themselves to an expensive and time-consuming lawsuit. When talking about parents loaning or even gifting money to their children, it would be advisable for them to get legal advice.

As an example: “Imagine a situation with a pre-construction home and rising interest rates. There’s a risk that a child may not be able to secure a mortgage by the time the sale closes. They may face exposure for damages from the developer … but exposure may be limited by their limited assets. A parent, on the other hand, may have another property or other assets, and face significant exposure because they’re named as a buyer on the agreement of purchase and sale.”

Those who come from families without deep pockets have fewer options.

More families are making the move to Alberta or further east where it is more affordable than BC or Ontario.

Unfortunately, parental generosity is increasingly necessary if younger generations are to get ahead. Not everyone wants to own their own home, but for those who do, it is more and more difficult. This is where parents or sometimes grandparents are stepping in to help out.

Gifting, early inheritances and some of the other ways mentioned, are creative ways families are getting involved.

It’s not uncommon for “children” as old as 40 and over to be the recipients of their parents’ generosity when it comes to housing.

Contact Janice to learn more!

The basis of this article comes from Royal LePage blogger Susan Doran.

real estate in the comox valley

Real Estate Trends and Tips for Buying or Selling This Summer/Fall in Comox Valley

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Welcome to the vibrant Comox Valley real estate market! I’m Janice Leffler, a seasoned REALTOR dedicated to helping clients navigate their real estate journeys. As we move through the summer and into the fall of 2024, it’s an excellent time for buying and selling homes. Understanding the current market trends and preparing accordingly can significantly impact your success.

Market Trends for Summer/Fall 2024

This summer and fall, the Comox Valley market is bustling with activity. Lower mortgage rates have spurred increased buyer interest, creating a competitive environment. Inventory levels are moderate, with a high demand for single-family homes and townhouses. Seasonal factors, such as families relocating before the new school year and the pleasant weather, are contributing to the market’s demand.

Tips for Buyers of Comox Valley Real Estate

1. Get Pre-Approved: Secure a mortgage pre-approval to strengthen your offer and expedite the buying process.

2. Act Quickly: With high demand, be prepared to make swift decisions when you find a property you love.

3. Explore Popular Neighborhoods: Areas like Courtenay, Comox, and Cumberland offer excellent amenities, schools, and lifestyle benefits. Research and visit these neighborhoods to find your ideal home.

4. Work with a REALTOR®: Partnering with an experienced REALTOR® like myself ensures you have expert guidance, access to the latest listings, and support throughout the buying process.

Tips for Sellers

1. Enhance Curb Appeal: First impressions matter. Invest in landscaping, painting, and minor repairs to attract buyers.

2. Stage Your Home: Staging helps potential buyers envision themselves living in the space. Declutter, depersonalize and arrange furniture to showcase your home’s best features.

3. Price Strategically: Conduct a market analysis to set a competitive price. Pricing too high can deter buyers, while pricing too low may undervalue your property.

4. Market Effectively: Utilize online listings, social media, and professional photography to reach a broader audience. Virtual and in-person open houses can also attract more potential buyers.

The Role of a REALTOR® in Your Comox Valley Real Estate Journey

As your REALTOR®, I offer personalized service and extensive knowledge of the Comox Valley market. My professional network and resources ensure you have the best opportunities, whether buying or selling. Success stories from satisfied clients highlight my commitment to achieving excellent results.

Buying and selling in the Comox Valley real estate market this summer and fall requires strategic planning and expert guidance. Whether you’re buying or selling, I’m here to help you every step of the way. Contact me today to start your real estate journey in Comox Valley!

interest rate cuts

Half of sidelined homebuyers waiting for interest rate cuts to resume their purchase plans

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Many Canadians put their home-buying plans on hold for the last two years. Of those who did, 51% say they will return to the market when the Bank of Canada reduces the key lending rate.

Over the past two years, there has been a huge increase in the cost of borrowing. This has forced millions of Canadians to reconsider or readjust their plans to purchase a home.

The Bank of Canada began raising its key lending rate in March of 2022.

Since then 27% of the country’s adult population has been active in the market. However, a recent Royal LePage survey, conducted by Leger, found that many have had to put their search on hold. In total, 56% say they have been forced to postpone their property search because of rising interest rates.

Lower interest rates are a welcome relief for variable-rate mortgage holders. They also help those who have been forced to put off their home-buying plans. However, the 25 basis point decrease announced in June is not enough for most. Among those who have had to postpone a purchase, 18% say they are waiting for a cut of 50 to 100 basis points. Another 23% say they need to see a cut of more than 100 basis points before they will consider resuming their search.

“Following the first-rate hold by the Bank of Canada in March of last year, we saw an immediate surge of activity in the market as consumer confidence strengthened. I expect a similar wave of buyer demand at the first indication that highly-anticipated cuts by the central bank are on the horizon,” said Phil Soper, president and CEO, of Royal LePage. “Buyer behaviour is strongly linked to their confidence that the home they want to buy today will not be less expensive tomorrow.

A full 20% of sidelined buyers say they no longer plan to purchase a home. If the BoC’s key lending rate remains unchanged another 12% say they are ready to jump in again.

The most popular mortgage type and term in Canada is a four or five-year fixed-rate mortgage. That’s what almost 45% of prospective buyers intend to do. Just 22% of respondents say they will choose a variable-rate mortgage and 12% say they will opt for a short-term fixed-rate mortgage.

Of those who have postponed their home-buying plans, many are still browsing listings. This gives them a bit of a respite and more time to save for a down payment and apply for pre-approval for a mortgage. Less than 10% have obtained a mortgage pre-approval. Some have completely abandoned their home-buying plans for the time being.

The Bank of Canada’s overnight lending rate currently sits at 4.75%. The next interest rate announcement is scheduled for July 24th.

Royal LePage commissioned Leger to conduct an online survey among 1579 Canadians, 18 years of age or older, via Leger’s online panel, LEO. The data was collected from January 26 to 28, 2024. No margin of error can be associated with a non-probability sample (i.e. a web panel in this case). For comparative purposes, though, a probability sample of 1579 respondents would have a margin of error of ±2.5%, 19 times out of 20.

Get in touch with Janice to learn more!

tenant to homeowner janice leffler comox

From tenant to homeowner: A complete guide to home ownership in a competitive real estate market

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Transitioning from tenant to homeowner can seem daunting. Today’s competitive real estate market with higher interest rates and rising prices accentuates that. However, with careful planning and an understanding of the key steps, the dream can become a reality. Here’s a comprehensive guide to help you navigate the process:

Hire the right professionals

The best way to succeed in entering the real estate market is to be well-prepared. Surround yourself with professionals, such as a real estate broker, a mortgage specialist, and a financial advisor. These experts will be able to advise you at different stages of the home-buying process. They can help you define your budget and the type of property you can afford.

Working with a Royal LePage real estate professional offers many advantages throughout this buying process. Your realtor will give you the right goods. She will guide and advise you every step of the way. She can also give you names of other key players, such as building inspectors, and legal and financial advisors. Her expertise and network can be crucial to your success.

Assess your financial situation

Analyze your borrowing capacity start by assessing your current financial situation. Calculate your income, expenses, and debts to figure out how much you can afford to borrow. Use online mortgage calculators to get an idea of your monthly payments under various scenarios.

Mortgage pre-qualification

Mortgage pre-qualification is a crucial step. It gives you a clear idea of how much you can borrow and shows sellers that you’re a serious buyer. Contact a few financial institutions or mortgage brokers to compare offers. This will help you find your best option.

Gather your down payment

Amount required

The minimum down payment in Canada is generally 5% of the purchase price for a property under $500,000. For properties between $500,000 and $1,000,000, you’ll need 5% on the first $500,000 and 10% on the remainder. For properties over $1,000,000, a minimum down payment of 20% is required.

Mortgage loan insurance

If your down payment is less than 20%, you’ll need to take out mortgage loan insurance with Sagen, the Canada Mortgage and HousingCorporation (CMHC) or Canada Guaranty. There is a premium for this insurance. It can add up to 4% of your mortgage amount and can be added to your mortgage.

Funding sources

Your down payment can come from a number of sources, including personal savings or a gift from family. There are a couple of federal programs available to help you raise this amount too. They are the HomeBuyers’ Plan (HBP) and the First Home Savings Account (FHSA).

Keep reading for more information on them.

Plan for additional costs

Land transfer taxes

Land transfer taxes vary by province and municipality and can add up. Be sure to include this calculation in your budget.

The tax is calculated on the basis of the purchase price of the property. Progressive rates are applied according to different price brackets.

For example, in BC, the property transfer tax is 1% up to $200,000, 2%between $200,000 and $2,000,000, and 3% between $2M and $3M. For over$3,000,000 there is a further 2% tax. In some jurisdictions, there are additional municipal taxes.

Transaction costs

Allow approximately 1.5% to 4% of the purchase price for transaction costs. These include closing costs, legal fees, building inspection, and prepaid adjustments, to name a few of the more common ones.

Consider homeownership assistance programs

The federal government offers some financial programs to help Canadians enter the real estate market.

● First-Time Home Buyers’ Tax Credit (HBTC): First-time homebuyers acquiring a qualifying home can claim a non-refundable tax credit of up to $1,500. The value of the HBTC is calculated by multiplying$10,000 by the lowest personal income tax rate. This credit can be claimed at the time of income tax filing following the purchase of your first property.
● Home Buyers’ Plan (HBP): The Home Buyers’ Plan (HBP) allows you to withdraw from your Registered Retirement Savings Plans (RRSPs)to buy or build a qualifying home. In its 2024 budget, the government announced an increase to the withdrawal limit from $35,000 to$60,000.
● First Home Savings Account (FHSA): Launched in April 2023, this program allows you to save up to $40,000 tax-free for the purchase of your first home. The FHSA combines elements of a Tax-FreeSavings Account (TFSA) and a Registered Retirement Savings Plan(RRSP). It allows users to make tax-deductible contributions and tax-free withdrawals from the account.

Find your dream home

Research and visits

These days, everyone can do their own property searches online. Your realtor has more precise research tools and a thorough knowledge of their local market. This gives you an advantage. She can match your needs to the right neighbourhood, and to the ideal property for you. During showings, she will be able to point out some things about the property’s
condition and possibly spot some potential problems. Most buyers will want to have a home inspection before committing to the purchase.

Make an offer

Once you’ve identified your ideal home, your realtor will prepare a competitive offer that takes into account your deadlines, budget, financing, or inspection conditions. She will represent you to the sellers and advise you on negotiating and presenting a counteroffer, if necessary.

Finalize your first home purchase

Home inspection

A thorough inspection of the property by a professional can reveal issues not visible to the naked eye. These could be structural problems, water damage, or electrical or plumbing concerns, amongst other things. Knowing about these issues in advance allows you to make an informed decision. The inspection is not intended to be a negotiating tool but to further inform you about the property you want to purchase. Depending on what is discovered, your realtor can help with further investigation.

Obtaining final financing

To obtain a mortgage, your lender will need detailed financial documentation. This includes bank statements, pay stubs, notices of assessment, and any other information on your debts and asse

Buying a home requires preparation and perseverance. By following these key steps, you can move from renter to homeowner with confidence. Consult Janice, a real estate professional, to guide you through it.

Good Luck on your path to homeownership!

retiring in the comox valley how to downsize

A Guide to Real Estate in the Comox Valley for Retirees

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As a retiree, there’s a lot to consider when choosing your retirement home. As with any major life change, easing into your retirement doesn’t come without its challenges. From handling your finances to choosing where to live, there’s a lot to take care of. A common practice during retirement is to downsize to a smaller home. This allows you more freedom and flexibility during your golden years. To help you choose the right home for your retirement, I will be going over some of my top tips for finding real estate in the Comox Valley as a retiree. Follow along below to learn more!

What to Know About Real Estate in the Comox Valley: Retirement Edition

The first thing that I always urge clients to consider when they choose a retirement home is how the property will age with them. As you think forward into your future, can you imagine the property being suitable for you in your 80’s or even 90’s? Or, do you see yourself moving into assisted living? This question is an important one to ponder as you search for the right home. If you can’t picture yourself being able to do yard work, basic maintenance, or climbing stairs, finding a home that meets your long-term needs is essential. Look for properties that offer single-level living or a building with an elevator, maintenance that is taken care of by strata, and amenities that support aging in place. 

Another question to answer as you work towards finding the perfect retirement home, is what do you plan to do during your retirement? For some retirees, the dream is to travel the world. For others, staying at home and enjoying time with family and friends is more their speed. If you’re more the world traveller type, a smaller property like an apartment is probably an ideal option. Especially, if you’re going to be gone for most days of the year. On the other hand, for the homebody, a larger condo could be favourable. 

When searching for your dream retirement home, it’s also important to consider the amenities and location of the property. Whether we want to admit it or not, getting older often means more visits to the doctor. As such, a home near the hospital or health care services is never a bad idea. You may also find it worthwhile to have on-site amenities like pools, fitness centers, and social gathering spaces. The more opportunities for hobbies and social engagement, the better. 

Contact me Today!

If you are ready to start looking at real estate in the Comox Valley for your retirement, I encourage you to contact me today! Moreover, if you have any questions about a property in the area, be sure to reach out to me! I am excited to get your golden years on track. A home in the Comox Valley is a great asset to have. Be sure to check out my social media, and return next month for more real estate-related content! I look forward to working with you in the near future.

working with a realtor

Hurdles You Don’t Have To Worry About When Working With A REALTOR®

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Paperwork is just the start.

Buying or selling a home can be a daunting process. You don’t have to go through it alone. By working with a REALTOR®, you have the support you need to get through it smoothly. A REALTOR® is someone who has your best interests in mind.

REALTORS® have a wealth of knowledge about the local real estate market. You will benefit from their expertise every step of the way if you work with one.

Beyond helping you find a property, he or she will negotiate a sale and tackle the paperwork. Your REALTOR® is also an expert in the emotional highs and lows of the buying or selling journey. This is no small thing when you’re making one of the biggest financial decisions of your life!

Need more convincing? Here are seven real estate hurdles you don’t have to sweat about when you work with a REALTOR®.

Understanding the local real estate market

If you’re moving to a new city, province, or territory, one of the most significant challenges you’ll likely face is knowing enough about the local real estate market to make a confident decision.

With a REALTOR® on your side, you can use their extensive knowledge of your desired neighbourhood to your advantage.

If you’re buying, a REALTOR ® can help you find the best locations and opportunities to meet your needs. For sellers, they can help you price your home appropriately, get it ready for sale and attract the best-suited buyers.

Handling negotiations

Negotiating a real estate sale can be stressful and overwhelming. With a REALTOR® as your advocate, you can relax and know it’s all under control.

When it comes to negotiating repairs, possession dates, and more, having an expert in your corner is key. Your REALTOR ® can help you navigate the process. Making sure you get the best deal on your dream home or receive a fair price for your property is of utmost importance.

Working with a REALTOR ® helps with staying on top of the paperwork!

Whether you’re buying or selling, paperwork is a huge part of the real estate transaction process. It can be exhausting, confusing, and stressful to manage.

Easing this burden is exactly what your REALTOR® is there to help with. They’ll help sort through all the documents and make sure everything is complete and accurate. This will go far to reduce some stress along the way.

Finding your dream home

Searching for the perfect home can be a time-consuming process. You save both time and energy with a REALTOR®.

They can help you find properties that meet your specific needs and wants. They can set up automatic alerts so that you’re among the first to know when a new property is put on the market.

Whether you’re moving down the street or across the country, a local REALTOR ® can help you keep an open mind. Or maybe you need help to narrow down your search and figure out exactly what you need most.

Marketing your home effectively

Do you know how to market your home in a way that reaches the most qualified buyers? Your REALTOR® does. In fact, you have to be a REALTOR® to be able to post listings on Canada’s #1 real estate platform — REALTOR.ca.

These experts have the tools and strategy you need to reach a wider audience and ultimately help sell your home faster. They can also line you up with other professionals – stagers, videographers, photographers.

Managing home inspections is easier when working with a REALTOR ®

Building inspections can be a critical part of the home-buying process. If you’re a new homeowner, you might not know what to look for before you make the commitment.

Your REALTOR® can recommend inspectors. He or she will also be able to ask the right questions before and during the inspection to ensure the process goes smoothly. This will help you avoid any surprises.

Emotional support & encouragement

Buying or selling a home is one of the biggest financial decisions you’ll make. Naturally, this makes it an emotional and potentially overwhelming experience.

Imagine, you’ve made a bunch of offers that haven’t been accepted. Each time you thought you found “the one”. Or you’re selling but getting lowball offers. Either of these occurrences can be a real hit to the confidence.

Your REALTOR® knows this journey through and through. He or she knows about the worry, confusion, fear, excitement, relief, and utter joy that come with it. Beyond the logistics, this is a person who will be on your side, be your emotional ballast, and encourage you the whole way through.

When you are working with a REALTOR ®, you’re not just getting an expert on your side. You are also getting a confidant who knows the right questions to ask, understands your goals, and works tirelessly to achieve them.

REALTORS® know buying or selling a home is full of highs and lows. They’re there for you every step of the way, providing support, guidance, and encouragement.

They’ll be your rock through the buying or selling process. They’ll help you achieve your real estate goals with confidence and peace of mind.

Working with a REALTOR ® – Janice Leffler

Get in touch with me today and let’s help you sell your home!

Houses for Sale in Courtenay

Summer is the Best Time to Buy Houses for Sale in Courtenay

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Summertime is here! With the added warmth and relaxation in the air, now is the time to buy houses for sale in Courtenay. Achieving your real estate goals of buying a home is best done during the summer months. From excellent weather to historically better inventory, summer is a great time for buyers to jump in on the housing market. To help you get a better idea of why summer is the best time to purchase a house, I wrote this blog post. Continue reading the article below to learn more!

Why Buy Houses for Sale in Courtenay During the Summer?

One of the main reasons that buyers choose to invest in a property during the summer is increased inventory levels. Historically, the real estate market experiences greater real estate activity during the summer months. Because of this, there is often a larger range of property types in different price ranges. With more homes on the market, you increase your odds of finding your dream home. 

Another perk to buying during the summer months is better curb appeal. When you look at a property during the winter or fall, it can be difficult to imagine how it will look with lush greenery, blooming flowers, and vibrant landscaping that typically accompanies the summer season. This makes it hard to picture what you are investing in. By viewing properties during the summer you get a better sense of the full potential of the property. This is also a good gauge of what kind of neighbourhood you are buying within. 

If find a home that you love, the summer weather is also more favourable for home inspections. Having an inspector evaluate a potential investment is much easier during the warmer months. This is because it is easier to spot structural flaws, inspect roofing, examine drainage systems and check the condition of the backyard. Moreover, increased hours of daylight make for more comprehensive inspections. 

Contact me Today!

If you are curious about investing in houses for sale in Courtenay this summer, I encourage you to contact me today! Moreover, if you have any questions about real estate for sale in the Comox Valley, be sure to reach out to me! I am excited to get your aspirations on track. A home in the Comox Valley is a great asset to have. Be sure to check out my social media, and return next month for more real estate-related content! I look forward to working with you in the near future.

kitchen updates to sell your home

5 small yet impactful kitchen updates to sell your home that you can complete in a weekend!

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Every now and then, you may look at your kitchen and feel that it needs a facelift. You may want to bring it up to speed with current design trends. Thankfully, upgrading your home doesn’t have to break the bank. It doesn’t have to mean a major construction overhaul. Even small updates like switching out cabinet hardware or applying a new coat of paint can make your kitchen feel brand new.

Here are five small yet powerful ways to update your kitchen without spending thousands of dollars.

Introduce open shelving

Adding open shelving to your kitchen not only creates an additional means of storage. It also gives an eye-catching display area to showcase your personal style.

Open shelving: incorporate a single shelf, or two to three levels of shelving. It can instantly make your kitchen feel more spacious. It also provides easy access to everyday items like dishes, cups and seasonings. There are many shelving options to choose from. You may prefer traditional painted shelves with crown moulding or rustic wooden mantels with metal hardware for a more industrial look.

Open shelving in the kitchen doesn’t need to be reserved for simply practical uses, like storing glassware and plates, either. Get creative with your shelf styling and introduce plants, framed artwork, pottery, decorative ceramics, recipe books and more.

Upgrade your hardware

Just like your backsplash or countertops, your hardware can have a powerful effect on your kitchen’s persona. Updating your cabinet handles, sink faucet, light switch plates and drawer knobs can give your space a whole new vibe. Whether you prefer fixtures that are modern and sleek, or timeless and classic there are many to choose from.

When it comes to picking out new cabinet hardware, think about how you use each cupboard or drawer. Decide if handles, knobs or a combination of the two are best for everyday utility. For drawer pulls, the rule of thumb for determining the best size of handle is to choose a pull that is one-third of the length of the drawer. If you are shopping for a new kitchen faucet, consider how your spout’s height and reach will measure in comparison to your sink. For consistency, your faucet should match your cabinet hardware with a similar style and finish.

Kitchen Updates to Sell your Home: Switch out your lighting

Lighting shouldn’t take a backseat in your kitchen’s design. Swap out one light fixture for a new one. Adding a series of new lights can really change up the feel of your space.

The key to great kitchen lighting is a layered approach. Use a combination of task, ambient and accent lighting. Save bright task lights like puck or hanging lights for work areas where ample visibility is important, such as over the sink, stove and countertops. Ambient lighting – softer overhead lighting that provides general illumination for the room – can take the form of wall scones, track lighting or chandeliers. For a decorative touch, accent lighting should highlight specific areas of the kitchen. These include such areas as backlighting in glass-door cabinets.

Freshen up your window treatments

Whether you prefer curtains or blinds, window treatments can help to pull together the final look of your kitchen.

Window treatments allow you to control the amount of light in your space. They will also provide an extra layer of privacy from the outside. When choosing a window treatment, consider the ease of which you can lift and lower the shades. You’ll want to think about how to clean odours and oils from the curtains.

If you prefer to stay away from fabrics in your kitchen, opt for vinyl shutters or blinds instead.

Amp up your accessory game for kitchen updates to sell your home

It may not increase the market value of your property. Refreshing your kitchen accessories can make the space more enjoyable for you and your family.

Updating accessories could be as simple as swapping out your hand towels, table linens and floor runners. You could hang some kitchen-appropriate artwork on the walls. Introduce a burst of green with plants. A potted herb garden means some fresh flavours to add to your dishes. You can also update your small appliances, such as your toaster, kettle, countertop microwave or coffee maker. Add a pop of colour or an eye-catching addition to your stovetop or counters. If you’re feeling extra crafty, consider reupholstering the chair cushions in your dining room.

Get in touch with me for more advice on updates that will help to sell your home!

zoning changes british columbia

Zoning Changes Coming to British Columbia

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In 2023 the British Columbia government announced there will be changes to zoning laws. It was decided municipalities will have to revise their bylaws by June 2024. These changes are intended to create more options for both homeowners and prospective buyers.

The looming changes mandate that every municipality of over 5,000 people throughout BC allow at minimum, four plexes up to three stories tall on lots currently zoned for single-family or duplex use. For larger lots or those within 400 meters of a frequent transit network, six units can be built. The province
estimates that these changes could result in over 130,000 new small-scale multi-homes over the next decade. The zoning changes are expected to prioritize the development of affordable housing units. This could involve incentives for developers to include affordable housing in their projects. It could involve requirements for a certain percentage of units in new developments to be affordable for low- and medium-income earners.

Mandating affordability measures or overstepping?

By mandating affordability measures, the government is hoping to ensure that housing remains accessible to more people, particularly in high-demand areas. Another aspect of the zoning changes is the promotion of transit-oriented development. This involves concentrating new housing and commercial spaces around public transit hubs, such as subway stations or bus terminals. By encouraging dense development near transit, the goal is to reduce car dependence, ease traffic congestion, and promote sustainable urban growth. This approach not only benefits residents by providing them with convenient access to transportation options. It also contributes to environmental sustainability goals.

Overall, these zoning changes represent a significant shift in how land use is regulated in British Columbia. By prioritizing mixed-use development, affordable housing, and transit-oriented planning, the government aims to create more vibrant, inclusive, and sustainable communities across the province. It remains to be seen how successful these initiatives will be.

The question is, is the government becoming too involved in the personal property rights of BC owners and investors?

Reach out to me to learn more!

comox real estate market

Great News! Fly Direct Between Kelowna and Comox!

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Exciting news is on the horizon for both buyers and sellers in the picturesque town of Comox, British Columbia! Pacific Coastal Airlines has recently unveiled plans to introduce direct flights between Kelowna and Comox, starting June 25. This development enhances regional connectivity and also presents a myriad of benefits for people in the real estate market.


For prospective Comox Valley homebuyers, the introduction of direct flights provides newfound convenience and accessibility. Kelowna serves as a bustling hub in the heart of the Okanagan Valley. It is renowned for its vibrant culture, stunning landscapes, and thriving real estate market. With seamless air travel now available between Kelowna and Comox, those exploring real estate for sale in Comox can easily hop on a short flight to visit the area. This expedites their search process and facilitates informed decision-making.


Comox real estate market to benefit from direct flights to Kelowna

The addition of direct flights signifies heightened exposure and potential buyer interest for sellers in the Comox real estate market. Some Kelowna residents seek out Vancouver Island as a preferred destination for both business and leisure. Now accessibility to explore real estate opportunities in Comox will be increased greatly. This increased accessibility translates into a broader pool of potential buyers. Ultimately this could benefit both buyers and sellers by increasing real estate sales.


The sentiments echoed by Kelowna’s Sam Samaddar, YLW’s chief executive officer, underscore the significance of this development. Sam Samaddar highlights the enduring appeal of Vancouver Island for Okanagan residents. This further emphasizes the symbiotic relationship between these two picturesque locales.


Pacific Coastal Airlines, a respected regional airline in British Columbia, adds another feather to its cap with this expansion. With a commitment to providing efficient and seamless travel options, the airline continues to improve connectivity across the province. The benefit to residents, visitors, and businesses alike is apparent.


The introduction of direct flights between Kelowna and Comox marks a significant milestone. One that buyers and sellers in the Comox real estate market will appreciate and reap the rewards of. As accessibility improves and regional connectivity strengthens, the stage is set for a flourishing real estate market. This will help to increase opportunities and enrich community engagement.


If you’re visiting us from Kelowna, and are interested in learning more about the local Vancouver Island real estate market, please get in touch with me today!

waterfront homes for sale in comox bc

 All About Buying Waterfront Property for Sale BC

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Buying waterfront property for sale BC in the beautiful Comox Valley is an investment you won’t regret. Properties in the province that are located on a body of water come with numerous perks that other real estate simply cannot offer. From higher ROIs to health benefits, living on the water is where it’s at! No matter if you are a homeowner or an eager investor, buying real estate on the BC waterfront is sure to be a sound investment. To help you understand why purchasing a waterfront home in the Comox Valley is so desirable, I put together a list of reasons. Follow along below to learn more!

Why Invest in Waterfront Property for Sale BC in the Comox Valley?

One of the most invaluable aspects of owning a waterfront property is the desirability that your real estate holds. There are finite numbers of waterfront homes available in British Columbia and across the world. Moreover, waterfront homes are globally recognized as one-of-a-kind investments. With more cities placing strict zoning requirements in effect to protect waterfront areas, the availability of homes on the water is scarce. This fact alone is enough to maintain home value in the most challenging market conditions. If/when the day arrives that you decide to put your home on the market, you can feel confident in knowing that there exists a buyer eager to pounce on your listing. This is even more true for those who have kept up with regular home maintenance or turned their property into a lucrative business. 

Besides great ROI and demand, a waterfront home comes with lots of opportunities for its use. Given their heightened desirability, a property on the water makes a perfect candidate for a rental home or vacation residence. Additionally, depending on the zoning of the land, you may be able to operate a business out of your home that plays into the epic oceanfront backdrop. 

If you’re not convinced that a waterfront property is a good investment, we invite you to take a look at some of the health benefits that stem from living on the water. For example, increased lifespan, reduction in stress, and improved sleep quality. Living near or on the water also encourages individuals to be more active and spend more time outdoors. In addition to this, the air quality when living near large bodies of water is generally better due to fewer air pollutants. 

Contact me Today!

If you are curious about investing in a waterfront property in BC, I encourage you to contact me today! Moreover, if you have any questions about real estate for sale in the area, be sure to reach out to me! I am excited to get your aspirations on track. A waterfront home in the Comox Valley is a great asset to have. Be sure to check out my social media, and return next month for more real estate-related content! I look forward to working with you in the near future.

house hunting checklist

House Hunting 101 and Why You Need a Checklist!

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Starting on the journey to find your dream home can be both exciting and overwhelming. With so many options and factors to consider, it’s easy to feel lost. That’s where a trusty house-hunting checklist comes in! It’s your ultimate companion to keep you organized and focused every step of the way.

  • Stay Focused on What Matters: Your checklist is your roadmap, guiding you through the maze of available properties while keeping your priorities front and center. Whether it’s location, number of bedrooms, or budget constraints, jotting down your must-haves and nice-to-haves helps you avoid getting sidetracked by flashy features that might not align with your needs.
  • Communication Made Easy: Your checklist isn’t just for your eyes only – it’s a valuable tool for keeping everyone involved in the house-hunting process on the same page. Share it with your partner, real estate agent, or family members to ensure everyone understands your preferences and priorities, making collaboration smoother and more effective.
  • Remember the Details: Ever visited multiple properties in a day only to mix up which one had the cozy fireplace or the spacious backyard? Say goodbye to confusion with your trusty checklist in hand. By recording key details and observations for each property, you’ll have a handy reference to jog your memory and make informed decisions later on.
  • Stay Proactive and Accountable: House hunting can be a whirlwind, but your checklist keeps you grounded. Use it as a tool to stay proactive and accountable, setting goals for each viewing and tracking your progress along the way. With your checklist as your guide, you’ll feel empowered to take charge of your house-hunting journey and make confident decisions.

A house-hunting checklist isn’t just a piece of paper – it’s your secret weapon for navigating the real estate market in Comox with clarity and confidence. So, grab your pen and start jotting down those must-haves – your dream home is waiting to be discovered! Get in touch with me today if you want to put this checklist to good use!

Get the House Hunting checklist here now!

points of interest in courtenay

Points of Interest Near Real Estate in Courtenay

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If you’re considering making the move to real estate in Courtenay, knowing some of the town’s main attractions can be helpful. This is because it will give you a better idea of the lifestyle and what kind of people live there. When considering a new property investment it’s not always about the physical structure itself; it’s also important to get familiar with the surrounding area. In Courtenay, you’ll discover a wide variety of activities—many of which revolve around the great outdoors. In this article, I will go over some of the resident-favourite attractions in Courtenay. Follow along below to learn more!

What is There to Do Near Real Estate in Courtenay?

  1. Have a Lazy Day on The Puntledge River

During the hot summer months, you’ll likely catch some Courtenay residents floating around on the Puntledge River. This relaxing and equally exciting experience is the perfect way to spend a summer day. If you want to give this a try, grab your favourite tube and park in the Puntledge River Fish Hatchery to begin your adventure. Alternatively, if you don’t have a tube you can rent one for $10-15. 

  1. Go Shopping in Courtenay

Courtenay is home to numerous quaint shops and boutiques. From second-hand stores to crafters, there is something for everyone! I’d recommend beginning your day of shopping with a stroll on 5th Street. Here, you’ll discover numerous local restaurants, cafes and retailers. Don’t forget to bring your camera—downtown Courtenay boasts numerous vibrant murals perfect for photographing. 

  1. Check out the Oyster River Potholes

Vancouver Island has a few different locations where you can find natural potholes. Courtenay is lucky enough to be a resident of one of the locations called the Oyster River Potholes. Here, you’ll find crystal-clear water that’s perfect for cooling off. Relax and listen to the river flow as you take in the gorgeous scenery! 

Contact me Today!

If you are interested in learning more about attractions near real estate in Courtenay, contact me today! I’d be happy to help you get to know the area and all of its best features! For more information about real estate in Courtenay, stay tuned to my blog. And, check out my social media for the latest updates and more. I look forward to working with you soon. 

purchase and sale agreement

Understanding the terminology: 5 important terms in your Comox purchase and sale agreement that you should know!

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Buying a home in the Comox Valley is an exciting time. It can also be stressful and even confusing. There is legal documentation, bank information, and administrative procedures to coordinate when buying a property. With all of that, you are likely to come across a few words you may not understand.

Before you sign on the dotted line, review these five important terms that every buyer and seller should know.


Note: Purchase and sale agreement terminology and practices may vary by region.


Closing date:

The closing date is also referred to as the completion date. It is the day the buyer officially becomes the new owner of a property. At this time all necessary legal and financial parts of the transaction are completed. Typically a couple of days before the closing date, there are a couple of things that take place. The buyer will sign their mortgage loan and property title documents. The buyer will also provide the balance of funds to their lawyer to complete the purchase. The closing date is often the day before the possession date. Sometimes the closing and possession dates are the same, but that will vary depending on circumstances. The possession date is the day the new owner (buyer) receives the keys to the home.

Deposit:

When a buyer submits an offer, they include a deposit. The deposit is taken at the time of the offer or within a certain number of days after an accepted offer. The amount varies in different areas. A deposit demonstrates that the offer is made in good faith by the buyer. The deposit is provided to the buyer’s real estate brokerage upon acceptance of the offer and is held in trust until the closing date. The deposit is applied toward the total purchase price.

Irrevocable date and time:

When submitting an offer to purchase, there is a limited amount of time for which that offer remains open. This is known as the irrevocable date and time. By this specific day and time, both the buying and selling parties are required to agree to the terms and conditions of the offer or sign off on it. If this does not happen, the offer becomes null and void. An irrevocable date can vary depending on the urgency of the transaction. As well, it is often dependent on the availability of all parties and how much time is deemed appropriate for the contents of the offer to be reviewed. Usually, it can vary from a short couple of hours or up to 48 to 72 hours from the time the agreement is submitted.

Chattels and fixtures:

When buying a home, how do you know if the curtain rods, stove, or garage door opener is included in the sale? The chattels and fixtures section of the purchase and sale agreement will tell
you. Chattels are any items that are considered removable from the property, such as kitchen appliances, curtains and the washer and dryer. A fixture, on the other hand, is permanently attached to the property, such as a built-in microwave, cabinets, a security system or a built-in dishwasher. When the buying party has an offer drafted by their realtor, it’s important to clearly state what they wish to have included in the sale. If items are not included and agreed upon, it’s presumed that the previous owner will take any and all chattels with them.

Anything the sellers do not want to include should be specified in the listing. Some things, such as built-ins, outdoor plants and special light fixtures, can fall into a gray area. It can be time-consuming and stressful if there are disputes between buyers and sellers over what stays and what goes. The best way to avoid this is to get it in writing.

Clauses and conditions:

Each purchase and sale agreement includes a list of assurances that the seller and/or buyer sign off on, which are known as clauses. Some clauses are not as important as others, such as acknowledgment that square footage is approximate. Conditions, however, are very important and must be completed within a specific time frame for the home to be officially sold. For instance, a conditional sale can rely on a professional inspection of the property within a certain number of days of the offer’s acceptance. This means the inspection would need to be completed, approved, and signed off on by the buyer for the sale to go ahead.


It is best to review any terminology that you do not understand in the Contract of Purchase and Sale with your REALTOR – Get in touch with Janice to learn more!

Note: Purchase and sale agreement terminology and practices may vary by region.

comox realtor how to price homes for sale

How a Comox Valley REALTOR® Prices Your Home

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You’ve loved your home but are ready to move on. How much should you list it for? A casual observer might believe a listing price is an arbitrary number. Realtors consider many factors when pricing, including market conditions, historical data, location and amenities. Overprice a property and it could linger, unsold, for months. Undervalue it, and you’re leaving money on the table. While getting a home appraisal can give you an idea of your property’s worth, pricing a home is part science and part art.

When asked to price a property, there are many aspects involved and lots of fine-tuning.

Some considerations include:

Current local market conditions


Pricing a home should include looking at the current market conditions and trends in your area. How many properties with similar features are up for sale? How fast are they selling? Knowing these things can help determine how a property should be priced. Comparable current and sold listings are an invaluable source of information to look at when pricing. This takes into account the ability of active buyers and their buying power. Sold property prices are often relayed to any buyer or seller by their REALTOR®. Is it a buyer’s or seller’s market? When there’s low inventory in a neighbourhood, this can create a seller’s market with more competitive listing prices. If there are a lot of homes for sale, it may require lower asking prices and indicate it’s more of a buyer’s market.

Location


Sought-after neighbourhoods near well-respected schools and other amenities will typically demand a higher price tag. Remember: even homes on the same street can differ in price. If one side of the street backs onto a body of water, for example, those homes could be priced higher. Similarly, a busy street or lots of noise nearby may suggest a lower asking price.

Size and layout


A home’s layout can also factor into its pricing. Many families look for three or more bedrooms on one level. The square footage of a home and land size also influences the value of a property. Depending on the area and the buyer, aspects like privacy or usable land play a role.

Age and condition of the house


How old a property is, and whether it has or needs major updates, also factor into pricing. These can include windows, roof, kitchen, bathrooms, and mechanical systems. When the major components of a home have been updated or replaced, many buyers see that as a benefit. It is part of the long-term investment they will not need to spend money on. DIY projects gone wrong can be detrimental in obtaining top dollar. Work that is not done professionally and is substandard will decrease your home’s appeal. This, therefore, will also decrease the price.

Bonus spaces


A home with an in-law suite or additional income potential can be important as it gives the buyer flexibility with their financing and buying capability. Within urban communities, it may be hard for a buyer who wants a detached workshop or a studio. This is considered special and not easy to find, so it must be taken into consideration when pricing.

Seller’s motivation


Comox REALTORS® also take a seller’s motivation into account when pricing a property. If a seller has an accepted offer on another property, or they’re being transferred out of town, they may ask a compelling listing price to attract more buyers.

What is the MLS® Home Price Index and how does
it work?


REALTORS® have a powerful tool at their disposal. This is the MLS® Home Price Index (MLS® HPI). It provides a more precise picture of home price trends by gauging prices for the market as a whole. It also provides prices for specific housing categories. This information allows them to do a comparable market analysis. They learn what other similar homes have recently sold for and gives solid indicators on how to price your property. Because this data can change from month to month, it’s important to use an accurate tool that tracks prices to get the latest information. Ultimately, the pricing of a home is the seller’s decision. Their REALTOR® helps with that decision by employing their expertise and knowledge of the market. One goal is to price the property to attract serious buyers. Another goal is to prevent an extended period of time on the market that may ultimately come at a cost. Working with a Comox Valley REALTOR® to price your home gives you peace of mind that you’re setting yourself up for success with the advice and expertise of a professional.

before you go

Sold your Comox Valley home? Don’t forget these 4 important steps before you leave!

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After staging your property, hosting showings and entertaining offers, selling your home feels like a huge accomplishment. Even after you’ve found the perfect buyers, there’s still plenty to do on the countdown to moving day. Your focus will likely be on packing and making arrangements for your new home. Important tasks should not go overlooked, however.

Before you officially hand over keys and say goodbye to your former abode, consider completing these four important tasks.

Update your utilities, accounts and subscriptions

Don’t forget to disconnect before you leave!

Call your cable, internet and phone providers. Notify them of your move and disable service when you depart. On closing day, have your hydro and gas metres read. This will ensure that you will pay your share of utilities. The new occupants will take over those expenses once they take possession..

If you have any newspaper deliveries or maintenance services for your yard or pool, be sure to give them a heads up too. Talk to your local post office to have your mail forwarded to your new address. You don’t want to miss any important packages, bills or letters.

When it comes to insurance, don’t cancel your policy until the sale has closed. If you are leaving your home vacant for a period of time before the new owners move in, let your insurer know. Maintain your policy as long as you own the property. Ensure you are covered in the event anything happens while the property is empty.

Leave behind important items for the new owners

Figuring out how to work a new appliance can be a hassle. Make life a little easier for the new homebuyers by leaving instruction manuals out in plain sight for them to find. This should include any pamphlets for heating and cooling systems, the fridge, stove, washing machine and dryer, plus any warranties.

Gather all keys to sheds, gates, storage cabinets and mailboxes. Leave them in a spot that is easy to find, such as the kitchen counter. Along with the keys, leave behind any remote controls, the garage door opener and any fobs.

Be mindful of items you are obligated to leave behind for the new owners that may not seem obvious. Light fixtures and curtain rods are considered to be “fixed”. If you’re removing them or other items attached to the wall, they should be replaced unless other arrangements have been agreed upon. Consult your realtor and your purchase agreement to confirm what has been included as part of the sale.

Give the home a wipe-down

After a long moving day, your buyers will appreciate coming into a home that has been prepared for their arrival.

Most purchase agreements require that the home be left in a ‘broom swept condition,’ at the very least . Loosely this translates to a surface-level clean. It would include removing all personal possessions, vacuuming the floors and disposing of all garbage.

Some buyers expect the seller to have a professional cleaning performed. If necessary, have this clarified in advance. While cleaning out your home, don’t forget about your attic, crawlspace, closets, outdoor shed, garden beds, fridge, freezer and other easily overlooked areas.

Do a final walk-through

We’ve all had that moment of leaving home and feeling like we’ve forgotten something important. On moving day, erase any possible doubts by doing one last walk around. Include the inside and outside of the property to ensure you haven’t missed anything important.

Before you lock up, set the temperature appropriately for the time of year. It may be wise to shut off the main water valve. The home may be empty for a prolonged period of time.

While doing your final tour, be sure the home is fully secure. Check that all windows and doors are closed and locked, including garden sheds, garages and patio doors.

Comox Valley Real Estate For Sale

Comox Valley Real Estate For Sale: New Transportation Paths

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Comox Valley real estate for sale is about to experience a boost in value! The Comox Valley Regional District (CVRD) is planning on building two new active transportation paths to connect communities in the Comox Valley. This new development could alter property values, neighbourhood dynamics and more! In a place like Comox Valley, transportation paths can help increase accessibility and connectivity for both residents and businesses. In this article, I will go over this new infrastructure anticipated to be put into place in the near future. Follow along below to learn more!

All About the New Transportation Paths in Comox Valley

The new transportation paths announced to be built in Comox Valley will A)  link the Village of Cumberland to the City of Courtenay. And, B) extend the existing path from Royston Road so that it runs up from the Waterfront Seaside Trail, where it will turn onto Livingston Road in the direction of the elementary school. 

Both of these projects are still being planned and officials are waiting on a grant from the provincial government. The total cost of the Royston Road project is estimated to be somewhere between $600,000 and $2.2 million to complete. Whereas, the Cumberland project is estimated to cost roughly $5.2 million to $7.8 million. The goal of undertaking these projects is to help improve methods of active transportation in the valley. 

Active transportation is any self-propelled mode of transportation like biking, walking or jogging. Both the Cumberland and Royston Road projects intend to be suitable for everything from bikes to wheelchairs and rollerblades. The CVRD is focused on ensuring that these pathways are centred around commuting as opposed to recreation. 

If grant applications are successful, the CVRD plans to begin construction later this year. 

Contact me About Comox Valley Real Estate for Sale!

If you are interested in learning more about new infrastructure near Comox Valley real estate for sale, contact me today! I’d be happy to help you stay informed about local developments! For more information about real estate in the area, stay tuned to my blog. And, check out my social media for the latest updates and more. I look forward to working with you soon.

kids and moving in comox

How to support your kids during a move to Comox

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Moving can be a very exciting time for a family. The anticipation of new surroundings, opportunities and a fresh start can be quite enticing. It can also be quite daunting. It is a major life event that affects all children differently.

If you are a parent who is looking for ways to help your child handle the moving process and adjust to their new environment, read the following tips. These could help them cope with the transition.

Communicate

Communicating with your child about the move will help them feel supported. Share with them the reasons behind the move and how you’re feeling about it. Hear their thoughts about moving, good or bad, and empathize with their feelings. An open channel of communication can be one of the most impactful ways to help your child navigate through the changes surrounding a move.

Get the kids involved

Involve kids in the moving process with age-appropriate tasks. It will help them accept the permanent nature of moving out of their current home and into a new one. Having them help out also gives them a sense of responsibility and pride. Any positive emotion associated with moving is a plus.

Here are a few fun tasks to try:

● Gather special items and take photos around the old home for a
keepsake treasure box
● Start a Pinterest board to gather inspiration for their new room
● Have your little ones assist with decluttering by going through their
clothing and toys. Let them decide what to keep and what to pass
on to other children who need them
● Make packing fun by having them fill up a box of their things and
decorate it with stickers, markers, etc.

Create a plan to stay in touch with friends

For children, one of the hardest parts of moving away is leaving their friends and classmates behind. If this is the case for your child, create a plan to help them stay in touch with their closest friends. Technology makes it easier to keep in contact with video calling and messaging apps. You can take it a step further by planning to write letters back and forth. Plan a visit if you’re not too far away. Create a keepsake book full of pictures and memories of your child and their friends.

Explore the new neighbourhood together

To eliminate some of the apprehension that comes with living in a new place, it can help to explore the neighbourhood together beforehand. If possible, take your kids with you on a walk-through of your new home. This could help with knowing what to expect on the big day. You can also check out your child’s new school. Add to that local playgrounds and restaurants to get the kids excited and familiarized with their new environment. If physically traveling to your new neighbourhood isn’t possible, look for maps, videos, and pictures online. Encourage conversation like what they are excited about. When you do arrive in your new community, take breaks from unpacking to enjoy your new space together.

Check-in with yourself

Children can often sense when their parents are going through something difficult. Moving can be stressful. This is why it’s important to check in with yourself. Are you taking time to rest and nourish your body? Have you allotted sufficient time to complete moving tasks like preparing the home and packing?

Care for yourself and work through your emotions surrounding the move. It will put you in a better headspace to support your kids when they need you.

home staging in comox

The dos and don’ts of staging your Comox home for sale

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When it comes to selling your home, making a positive first impression on a potential buyer is a crucial part of the process. Many sellers opt to stage their home, either through professional services or their own efforts. The goal is to make their space look more appealing to buyers, both in person and online. Staging is a popular real estate marketing strategy. It is effective at attracting purchaser interest, garnering offers at higher prices and selling homes quicker. If you’re preparing to list your property on the market soon, here are the dos and don’ts of staging your home for sale.

DO – Depersonalize your space


Buyers want to visualize themselves living in their potential new home. This can be hard to conceptualize in a space that is decked out with the seller’s belongings. To help buyers build an attachment to a property, it’s important to depersonalize. This means removing family photos, collectables, diplomas and other personal items. Consider depersonalizing your walls and furniture too. Busy accent walls, bold wallpaper and quirky fixtures speak to the specific tastes of the owner. Softening your home with neutral colours and fabrics can help make a potential buyer feel more at home. It is important though not to strip your space completely of personality. When staging, stick with basic accent pieces, such as a vase of flowers or simple throw pillows, to liven up the room.

DON’T – Overlook unfavourable smells

When buyers enter your home, they aren’t just judging your property with their eyes. All senses are engaged, including smell. Unappealing odours due to mould, pets and garbage can quickly turn off a potential purchaser. Be sure to tackle them before you welcome any showings. Take out the trash and scoop the litter box regularly. If the smell of mildew is present, give your showers and tubs a thorough clean. You could also schedule a visit from a contractor to rule out any mould-spawning water leaks. Don’t fill the room with artificial air fresheners either. Add subtle natural scents such as fresh linen, baked goods or potted herbs to entice the senses.

DO – Improve the lighting


Dark interiors can make spaces feel cramped and uninviting. Introduce an abundance of light into your home. When staging for photographs or showings, open all of the blinds and drapes, turn on lights. Move obstructions away from windows to let in as much natural light as possible. You can also boost the amount of lighting in the home with a layered approach. In addition to ceiling lights, use a mix of floor lamps, wall sconces, undermount lighting, and table lamps. This will brighten your space for potential purchasers.

DON’T – Forget about curb appeal


Buyers can easily make a snap judgment about your property from the minute they arrive on the street. Get things off to a good start by staging your home’s exterior too. Begin with a simple clean up. Mow the grass, power wash the siding and walkways, and free the lawn and eavestroughs of any fallen leaves or branches. Be sure to repair any broken porch lights or wonky house numbers. Complete your property’s refreshed façade with a clean doormat and some inviting potted plants or hanging baskets on the front porch. And don’t underestimate the power of a fresh coat of paint on the front door!

DO – Rearrange your furniture


It is possible to have too much furniture. Overstuffed rooms can give the illusion that there is a lack of spaciousness. When staging your home for sale, don’t be afraid to put some items in storage. You could swap furniture out to achieve an appealing layout that buyer’s can easily walk through. If space permits, pull furniture away from the walls to allow for more movement and reduce any dead space in the centre of the room.

condo storage space in comox

How to maximize storage space in your Comox condo

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Condo living in Comox can have its perks. There are often on-site amenities to enjoy and building maintenance is taken care of. With those perks looked after, you can experience the full benefits of a bustling urban lifestyle. However, one of the common complaints of condominium and apartment living is limited storage options. That can make it tricky to store your things. Luckily, there are a few solutions you can try to make the most out of your space. Wanting to tuck away your holiday decorations, suitcases or off-season clothing?

Try some of these storage solutions in your condo today.

Opt for furniture with integrated storage


Double up on your storage options by investing in multi-functional furniture that has built-in storage space. There are a variety of ottomans, coffee tables, sofas and beds out there that provide hidden storage units and drawers. This can make storing your belongings easy and discreet. Similarly, you could opt to use bins and containers that can fit underneath your furniture. In this way, extra items can be stored out of sight.

Bonus tip: Opt for furniture pieces that are lightweight or have wheels on the base. They can be easily moved around depending on the needs of your space. You can also invest in convertible furniture like a sofa that turns into a bed or a work desk that can be folded up against a wall. This allows for more efficient use of your limited square footage.


Make the most of vertical space


When it comes to condo storage, blank and tall walls are your best friend. If your unit has limited floor space, utilize your walls. This can be as simple as installing a few extra wall hooks for hanging coats, bags, and kitchen utensils. Or you could invest in some bookshelves for displaying your favourite collectibles, artwork, and framed photos. Think of unconventional vertical space too, such as doors or the insides of cupboards. Caddies and over-door organizers can be hung there.

Introduce built-ins on the wall

Sometimes adding a wall hook or two isn’t enough to offer the extra storage space that you really need. Opting for a more customized approach through the use of built-in wall compartments and shelves can provide storage options. These would be specific to your condo’s unique size and layout, while improving overall functionality. Think wall-to-wall and floor-to-ceiling built-ins in your living room, entryway and bedroom. Take full advantage of useful wall space in this way. It will introduce seamless and integrated storage options into any room.


Use smart containers

When every inch of storage space counts, there’s literally no room to carelessly tidy away your things. Strategically choosing the right containers or bins allows you to get the most storage space you can out of your condo. For example, stackable containers can more effectively utilize vertical space in your kitchen cupboards and bathroom vanities. Vacuum sealed bags are great for storing coats, bedding and other bulky linens in small spaces. Clear containers are also convenient for easily finding your supplies without having to open every lid or box. If the bins are not transparent, stick labels on the outside.


Bonus Tip: When in doubt, consider off-site storage


Maybe you’ve decluttered and reorganized to your heart’s content, but still can’t find enough space for everything in your condo. Don’t underestimate off-site storage as an option. Sometimes we simply can’t find a solution to storing awkwardly-sized or heavy items. On-site condo lockers or paid storage units are a great alternative. Lock away large belongings that aren’t used on a regular basis, such as off-season sports gear, balcony furniture, large tools and bicycles.

comox valley realtor

Why Hire a Comox Valley REALTOR® in 2024?

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Hiring a Comox Valley REALTOR® to help you during the purchase or sale of real estate is highly recommended. Especially, if you have minimal experience with buying/selling homes. A REALTOR® provides you with industry expertise, a Rolodex of useful contacts, and insights about the local market. When deciding to buy or sell, you want to ensure that everything goes smoothly. After all, these are the two largest transactions that most people make in their lifetime. In this article, I will be going over some of the main reasons why you should consider hiring an agent to represent you on either side of the transaction. Follow along below to learn more!

Get Help From a Comox Valley REALTOR® When You Buy/Sell in 2024

  • Why Hire an Agent During the Buying Process?

Buying a property is no easy feat. There are several moving parts when it comes to purchasing any sort of home. One of the biggest challenges that buyers face when buying without an agent, is the lack of available listings. Real estate agents have access to the MLS®, which is a database of homes for sale that are only accessible to agents. During market conditions when inventory is low, this can limit your options. Thus, preventing you from uncovering your dream home! Furthermore, if you’re a first-time buyer or you have little experience buying/selling real estate, hiring an agent is in your best interest. Without the help of a REALTOR®, you could be missing out on key market knowledge. Real estate agents have a strong grasp of the local market. This expertise is critical when it comes to spotting opportunities, negotiating and finding your dream home. 

  • Why Hire an Agent During the Selling Process?

In today’s climate, having a trusted REALTOR® to rely on when selling your home is ideal. As marketing your listing becomes increasingly more important, a real estate agent can help ensure that your property doesn’t go stale on the market. A seller’s agent has all of the tools and resources to make your home stand out amongst others. Not only this, but, they will handle the often stressful planning of open houses, scheduling showings, providing tours and answering questions about the property. When a prospective buyer makes an offer, they’ll be able to negotiate the terms and advise you on the merit of their offer. Once the deal is ready to be finalized, a seller’s agent will be there to help with paperwork and ensure a smooth closing process. 

Contact me Today!

If you are interested in learning more about why you should hire a Comox Valley REALTOR®, contact me today! I’d be happy to help you make sure that you buy/sell in accordance with your real estate goals! For more information about real estate in the area, stay tuned to my blog. And, check out my social media for the latest updates and more. I look forward to working with you soon. 

moving day in courtenay comox

Tips for a Seamless Moving Day in Comox Valley!

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Moving into a new home should be an exciting time. Without proper planning and organization, the whole experience can quickly turn into an overwhelming ordeal.


To help ease the anxieties of moving day, here’s a handy to-do list to keep you organized and on-track:

Plan ahead

This may seem obvious, but many people find themselves rushing to hire movers and pack their belongings in the final frantic days leading up to

their big move. To avoid the stress this can cause, and to ensure moving day flows smoothly, be sure to start packing at least one month in advance. Focus on one room or closet at a time, and use this as an opportunity to purge items you no longer need. Moving into a new place means starting fresh. Donate, rehome or recycle those belongings that won’t serve a purpose in your new home. Remember, the first and last days of the month are popular moving days. Don’t put off booking your professional movers in advance.

Optimize your packing process


For safe travels and storage, pack your belongings in durable moving boxes, ideally new or ones that have little wear-and-tear. There’s also the option to rent reusable moving crates that can be returned once your move is complete. You can even hire professional packers to do it for you! To avoid sensitive items getting wet or damaged, use plastic, sealable bags and bins to protect clothing, books and important documents. Be sure to bubble wrap glassware and fragile items to keep them from shattering in transit.

Label and organize your boxes


Label each moving box with the room it belongs in (ie. kitchen, bathroom, bedroom #1). Take it a step further by numbering each box and creating a tracking document to specify which boxes should go in each room. This not only makes it easier for your movers to know where to place your items, but it also helps you to keep track of all your boxes.

Make those small repairs before moving in


If time allows, paint the walls, deep clean the appliances, and complete any minor repairs before moving into your new place. Unsurprisingly, it is a lot better to have a fully-functioning home before you start to unpack and assemble furniture. If this is not an option for you there are a couple of other things you could do. Consider placing all your items in the garage or basement at first, or simply in the centre of a room. This will allow you a few days to clean thoroughly and complete any small jobs necessary before settling into your new space.

Update your services and accounts


It can take time for some utilities to get up and running. Set a reminder to take your name off your current utility bills and set up accounts for services at your new place in advance of moving in. Remember to also change the mailing address on your subscriptions, delivery services. Most importantly, don’t forget to make changes for government and banking documents.

Make a plan for your first night


Moving day can be a long and tiring process, so you’ll want to plan ahead for that first night. You may not have the time or energy to set up your bedroom right away. Perhaps you are having a new mattress delivered in the coming week. Book a hotel or arrange to stay with family or friends until you are ready to sleep comfortably in your new home.

kitchen packing tips comox valley

Advice on Packing your Comox Valley Kitchen!

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Of all the rooms in your home, the kitchen might be the most daunting one to pack up. When it’s time to move, follow these four important steps to make packing your kitchen easy and stress-free!

Get organized.

Before you start packing mugs and bowls into boxes, take inventory of each cupboard and drawer in your kitchen. Use this opportunity to purge or donate any items you do not intend to take with you. Next, gather all the packing materials you will need. Packing paper or bubble wrap, strong tape, boxes in various sizes, and a marker should all be on hand.

Set aside your essentials.

You can’t leave everything to the last minute. You’ll want to pack up the vast majority of your kitchen ahead of time. Leave out only a few essential items to be used in the final days and weeks leading up to your move. Keep out one dish, bowl, mug, glass and set of cutlery per person, along with any small appliances used daily (i.e. a coffee maker). You may also need to hold back one multi-purpose pot or pan. On moving day, carefully pack all these items into one box and label it ‘essentials’.

Pack it in.

Place similar items together. Organize your kitchen contents by size and fragility. For example, all flat plates should be packed together with a few sheets of packing paper in between each one. The same goes for bowls. Remember, most of these items are heavy and breakable. Be sure to use strong boxes or bins with snap-tight lids, and fill in any empty space with extra paper or bubble wrap.

Tips for boxing breakables:


○ Double-tape the bottom of any cardboard boxes to support heavy items. Place a dish towel or some scrunched up packing paper at the bottom of each box. It will provide extra support for heavy dishes.
○ Clearly label each box or bin. Identify not only the room it belongs to (kitchen), but also the contents of the box (pots and pans, mixing bowls, cutlery, etc.). You’ll be glad you did when you’re looking for your favourite coffee mug.
○ Use special glass dividers that can be inserted into packing boxes to transport your stemware safely.

○ Fill the empty space inside the boxes with dish towels and other linens. This will keep items from shifting and potentially getting damaged. They have to be packed anyway!
○ Wrap your entire cutlery tray in packing paper or a table cloth and place it flat inside a box.
○ Always wrap knives separately in paper or bubble wrap first and then in a dish towel. Place them on their side inside the box, never pointing up. And, be sure to clearly label this box.

Reduce food waste.

Before you move, take stock of the contents of your fridge, freezer and pantry. In an effort to minimize waste, try to think of easy recipes you can make to use up as many of these items as possible. On moving day, put the remaining items in a cooler with cold packs. These items should be packed last before you leave, and unpacked first when you get to your new place.

real estate in comox

Navigating Comox Valley Real Estate in 2024

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Happy New Year! If you’re looking to invest in Comox Valley real estate, 2024 is looking ripe with opportunities. National trends and new assessment data from BC Assessments are showing signs of a shift toward a buyer’s market in many of Canada’s major cities. In this article, I will be going over some of the 2024 market insights to pay mind to in the months to come.

Follow along below to learn more about what to expect from Comox Valley real estate in the New Year!

What to Know About Buying Comox Valley Real Estate in 2024

The first thing that buyers should be aware of going into 2024, is the current status of interest rates. The Bank of Canada has been steadily increasing the policy rate since 2022 in an effort to curb economic growth, discourage spending, and minimize demand. Over the past few months, the BOC has not raised the key lending rate any further. Many experts predict that rates will remain stable for the first half of 2024. After this, Canadians can expect to see modest cuts made. 

According to BC Assessments, property values on Vancouver Island have increased from $385 billion to over $386 billion. Despite this, most cities/towns on the Island experienced slight decreases in value. For instance, in the North Island region, Courtenay and Comox property values diminished by 4%. Additionally, in Cumberland, the average home worth plummeted 7%. 

Homeowners should keep in mind that although values dropped in 2023, they are predicted to rebound in the new year. Experts are hopeful that the national average property value will go up by 4.7% in most primary markets. 

Contact me Today!

If you are interested in learning more about buying Comox Valley real estate, contact me today! I’d be happy to help you make sure that you buy the right home for your family! For more information about real estate in the area, stay tuned to my real estate blog. And, check out my social media for the latest updates and more.

I look forward to working with you in 2024!

creating a welcome entry selling comox valley homes

Creating a Welcoming Environment when Selling your Courtenay Home

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When buyers view your home, you want them to feel welcomed, of course! You do not want them to feel like they’re intruders or a nuisance. How do you create that impression? Here are a few proven ideas to create a welcoming environment.

The foyer


This is where buyers first set foot in your home. It’s where they form their first impressions. Make sure the foyer is tidy and feels spacious. Ensure the doormat (if you have one) is clean or new. If you anticipate wet weather during a showing, have a convenient place for buyers to put their footwear.

Lighting


Does a dark space or poorly lit room make you feel welcomed? Likely not! So, go through your home and check that the lighting is sufficient and pleasant. If possible, have three light sources in each room, including passive light from windows.

Interior doors


Nothing says “You’re not welcome” more than a closed door. Wherever possible, have interior doors open. You want buyers to feel comfortable exploring your home without questioning whether they can enter a particular space. There may be exceptions, of course, such as the door to a storage room.

Personal items


In most cases, buyers are walking through a stranger’s house. (Yours!) For some, that means there may be a sense of discomfort. For example, if buyers see a family portrait on the wall, they might feel like intruders. To put buyers at ease, remove as many personal items as possible. By creating a “blank slate”, you’ll help them visualize themselves living there.


The more welcomed you can make buyers feel when they view your home, the more interest you’ll get.

home appraisals comox

Comox Valley Home Appraisals Explained

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Have you ever wondered how much your property’s value has changed since you purchased it?


Home appraisals can play a big role. Following is a breakdown of the appraisal process – what it means, when it happens, and other important factors you need to know.

What is a home appraisal?


An appraisal is a process to determine how much money a property is worth. It sounds simple in theory, but a lot goes into determining the appraised value of a piece of real estate. Valid appraisals must be conducted by a licensed appraiser. This is a third-party professional who is unbiased towards the sale. Typically, the appraisal is ordered by your bank or mortgage lender.


The first step of any appraisal process is making an appointment for an inspection. The appraiser will look at several factors including the property, current real estate market, and location of the home.


The property itself


Your appraiser will want to look inside and outside your home to determine what amenities are available and the condition of the property. They’ll note the number of bedrooms, bathrooms, and living areas. They will look at what kind of appliances are in the home, as well as the finishes and materials used to build the home. They’ll also consider the exterior of the home. For this they will note the size and condition of front and back yards, the number of parking spaces, and the health of the windows, siding, and roofing.


The current real estate market

The value of properties fluctuates over time, so overall market conditions also play a role in real estate appraisal. Your appraiser will look at the value of similar properties nearby to get a better idea of trends more specific to your local market.


Your home’s location

The value of a home isn’t just about the structure itself. It is also influenced by what’s around the home and how the property fits with the surrounding structures. For example, nearby parks, schools, retailers, and other amenities can affect property value.

When do I need an appraisal?


You can hire an appraiser to look at your property any time if you’re curious about its value. However, there are two main reasons someone would want their home to be appraised.

  1. When buying or selling a home
    Purchasing a home is one of the top reasons appraisals happen. The value of your home will affect your property tax and mortgage. Banks and mortgage lenders often require appraisals as part of their due diligence. They are taking a risk by lending you money so they want to verify the value of a home before approving a mortgage. If you purchase a home for a price much higher than what the home appraisal comes in at, lenders are unlikely to finance it or may require you to make a larger down payment. Typically they will only lend on the appraised value of the home, not on the purchase price. While it’s often the bank or lender that orders an appraisal, the cost may fall on the buyers. Typically, the cost of a home appraisal in Canada is between $300 and $600. The price of an appraisal depends on how large the property is, where it’s located and whether it’s considered a luxury home. Luxury homes are typically very large homes with high-quality finishes.If your appraiser has to spend more time travelling to your home or assessing its value on location, that can add to the cost.

Pro tip: Larger banks and brokers sometimes cover appraisal costs, so don’t be afraid to ask about this possibility!


If you’re looking to sell your home, it’s best to speak with your REALTOR®. She/he can provide you with insights into the current market conditions that may affect the value of your home.

  1. When refinancing your mortgage
    Refinancing your mortgage can be beneficial if you would like to secure a better interest rate. Some refinances require a home appraisal to determine if the current balance of your mortgage is more than the property’s value. Your bank or lender may call for an appraisal in order to ensure its worth is enough to secure your new loan. Not all refinances require an appraisal, so make sure to talk to your bank or lender to see if it’s necessary.

What’s the difference between appraised value and market value?


Market value is typically determined through a comparative market analysis (CMA). It is the estimated value of a home. It is based on an analysis of comparable recent sales in your market and what buyers are willing to pay for the property. A home appraisal is based strictly on the physical features of your home or property. CMAs usually happen at the beginning of the selling process and are conducted by your REALTOR®. As well as looking at current listings and sales, your REALTOR will look at many of the other details as the appraiser. An appraisal usually happens as part of the closing process and is conducted by a licensed appraiser.


Remember, these values are not always the property listing price. The appraised value is based on the objective assessment of a licensed professional. The market value is what buyers are willing to pay and sellers are willing to sell for. If you are selling, your REALTOR® can provide you with a CMA to help you determine a listing price. They also have access to the MLS Home Price Index (HPI). This is the most advanced and accurate tool available to gauge a neighbourhood’s home price levels and trends. It is exclusive to REALTORS®.


The information discussed in this article should not be taken as financial or legal advice. This article is for informational purposes only.

janice leffler comox valley real estate market update 2023

Comox Valley Real Estate Market Update – 2023

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In the past year, there have been many changes in real estate and the Comox Valley real estate market itself. It was, well you could say, an interesting year overall. High inflation, rising interest rates, prices in flux, and still more buyers than sellers were contributing factors. The year started off reasonably strong and that continued, to the surprise of some, into the fall market.

The last quarter of the year saw a marked reduction in sales. Buyers were worried about the federal government continuing down the path of elevating the cost of borrowing. On top of that, the provincial government was in the process of making changes to various things real estate-related. For example, rental and age restrictions in all strata developments were outlawed. Any strata bylaws that did not allow rentals were out the window. The only age restriction that held up was for strata complexes that had a minimum age of 55 years.

New taxes and Legislation affecting the Real Estate Market in Comox Valley

Add to this a speculation and vacancy tax, an extension to the foreign buyer ban, and other measures, some good, some not. Home Buyer Rescission Period and Federal Housing Tax Changes, including a tax credit for multigenerational home renovations and taxes imposed on homes purchased and sold in a short period of time (house flipping) were also instituted. All changed the landscape for real estate. Investors began thinking about getting out of the landlord game and that is an ongoing concern. Yes, there is a lack of housing, but if people are not willing to own property and rent to tenants, how does that benefit people who rent and do not want, or are not able, to buy?

Housing was and remains to be a top priority even though some of the proposed and implemented solutions are not panning out the way they were intended.

Residential sales in 2023 peaked in May and declined for the remainder of the year.

The number of homes on the market did not improve either though, and this affected prices. Of note, at the end of December 2023, there were just 121 single-family homes on the market. That is less than the 135 on the market in December 2022. However, the average sale price at the end of 2023 was just under $825,000 as compared to $786,000 in December 2022.

  • A total of 635 sales occurred in 2023 which isn’t far off the 674 that changed hands overall in 2022
  • The strata property market wasn’t much different with just 59 active listings of apartment-style condominiums at the end of 2023 instead of 50 in 2022
  • There were just 35 townhouses for sale in December 2023. December 2022 saw 50 offered for sale
  • Land only, with no buildings, shows similar trends with a mere 49 lots on the market in December 2023 as opposed to 64 in 2022
  • Interesting to note that the lower-priced strata apartments were selling in 2023 at an average sale price of $245,000, down from $416,600 the previous year, but in the townhouse segment of the market, the price in 2023 was up to $557,000 from $512,000 in 2022

Comox Valley Neighbourhoods In Demand

Another thing buyers and sellers may be interested in knowing is that, when it comes to areas, there are consistent preferences. Comox easily leads the way annually with Courtenay City and Courtenay East following in that order.

The next choice is Cumberland, though it trails by quite a bit. The balance of the Comox Valley follows well behind these top choices and includes Comox Peninsula, Courtenay North, Courtenay South, Courtenay West, Crown Isle, Merville/Black Creek, Mt. Washington, and Union Bay/Fanny Bay.

New Construction in the Comox Valley Real Estate Market

There has been a lot of construction going on in the Comox Valley over the past several years. Single-family and condominiums, both townhouses and apartments, have led the way. Now there seems to be, in addition to houses and strata buildings, a lot of rental apartments being built to assist with the housing shortage. Builders are taking advantage of some of the incentives the federal government has put in place. Keep in mind that plans for new construction begin long before it is approved and actually available. The permit process is a slow one. Land availability has an impact on that as well.

So far in 2024, pricing, interest rates, and property available to buyers seem to be following the trends we have seen taking shape over the past couple of years. It sounds as though we may start seeing interest rate relief sometime this year, but that remains to be seen.

In all segments of the market, there is information that can be deduced. It is not the same from one type of property to another, nor from one price range to another. If you would like further insight, please feel free to contact Janice. She is always available to help!

saving money for a home

Savings Strategies to Help Achieve Homeownership in Courtenay

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Affordability has been a major concern for many potential homebuyers this year thanks to rising interest rates, high inflation and housing supply issues. Fortunately there are several savings accounts, incentives and rebate programs available. These will help you save for a down payment and other housing costs by building a homeownership strategy.

This is a guide to help you prepare for the biggest financial transaction(s) of your life.

Three savings accounts available for Canadians to help with down payment and other homeownership costs include:

● Registered retirement savings plan (RRSP), Home Buyers’ Plan (HBP)
● Tax-free savings account (TFSA)
● First home savings account (FHSA)

Established more than 30 years ago, the Home Buyers’ Plan enables first-time homebuyers to access funds accumulated in their RRSPs. These funds can be used to help finance the purchase of your first home tax-free. The borrowed funds must be repaid.

The Tax Free Savings Account was first introduced in 2009. This registered investment account represents a flexible, all-purpose savings tool. It allows account holders to contribute and withdraw from a tax-sheltered account easily and without penalty. Tax-free withdrawals can be made at any time for any purpose. There are no withdrawal limits, and there’s no payback requirement. The account holder can use savings as needed and replenish as desired (within the annual contribution amount). Contributions are not tax deductible.

The First Home Savings Account is brand new for 2023. It combines the benefits of both an RRSP and TFSA. It is tax-deductible, and withdrawals are non-taxable. Since the savings are meant specifically for buying a first home, any amount withdrawn for another purpose will be taxed. The FHSA must be closed within a year from when the first withdrawal is made. If the funds aren’t used for a first home purchase within 15 years of opening an account, it must be closed. At this time the funds must then be transferred to an RRSP/registered retirement income fund or withdrawn as taxable income.

Start early, start now

Early saving and investing for the future is key for you when looking to become a homeowner. It is equally as important as making sure you have a full team of experts on your side. In addition to a Realtor, you should have a mortgage broker/agent, financial advisor/planner and real estate lawyer or notary. Your Realtor may also want to be in contact with these other professionals to help during the process. This will allow everyone to save time, and will also streamline the entire real estate process. It will lead to an easier, more seamless transaction.

Plans you set up today will help down the road.

Don’t rely on your parents to learn about the homebuying and mortgage processes. They may be a good sounding board, but everything has changed. Even if they bought within the past five to 10 years, the qualifying rate and required documentation are different. It’s important to have conversations about financing essentials, including credit, qualification and down payment. This information at the onset can save you a lot of future stress. Since an FHSA can be opened as early as age 18, it’s a great way for Canadians to start planning for homeownership early.

Getting clear on financial goals

It is also important for you to speak to someone about financing long before moving forward with a purchase. In this way you can be more confident about how to achieve your financial goals.

Homeownership really needs to be a top priority if it’s going to happen. Some sacrifices may be necessary. In some cases drastic changes, such as a career change, may be in order. Just don’t decide to change your job or career within two years of trying to qualify for a mortgage. You have to have two years of employment history on your income to qualify. It demonstrates stability and reliability to your lender.

Four recommended financial strategies include:

  1. Clearly track all expenses. This raises awareness, which enables you to compare your actions with your goals.
  2. Avoid unnecessary bank fees. Research banks that don’t charge fees.
  3. Automate savings. Start small and ramp up. Every little bit helps.
  4. Automate investments. If you have the time horizon (at least two years) and the risk tolerance, this works well. The more you can take willpower out of the equation, the better.

The goal of homeownership has become much longer for many Canadians. Meet with the right professionals early. It can make a world of difference if you do this as soon as you have started saving for your first home. Set yourself up for success!

mortgage application

THE 5 C’S OF CREDIT – These 5 factors are used to evaluate your mortgage application.

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THE 5 C’S OF CREDIT

These 5 factors are used to evaluate your mortgage application.

Lenders analyze five different factors when reviewing your mortgage application. They are often referred to as the 5 C’s of credit. When applied to your application, the lender determines their risk level in providing you the funds. It helps them in their decision to approve or decline your request.

CAPACITY

Can you afford the payments along with other living and credit expenses? The lender wants to know if you can handle the debt and be able to repay the mortgage loan. Your income is reviewed and the lender will crunch some numbers to determine your Total Debt Service Ratio.

CHARACTER

As past behaviours predict future tendencies, lenders put weight on your past payment responsibilities. They will look at how long you have been employed, and how long you have lived at your present address. The lender is looking for clients who show stability and reliability.

COLLATERAL

It is a pledge of property or other assets you are borrowing against. How marketable is the property you are financing? How much money are you putting down? The property provides a means of at least partial recovery if you were to default on a mortgage loan. If the lender finds a weakness in one of the C’s of credit but everything else is fine, they may ask for more money to be put down on the property. That strengthens their collateral.

CREDIT

This is where your credit report is reviewed including your beacon or credit score. Have you had difficulty meeting payments in the past? Are your credit trades at the credit limit or do you pay them in full each month? How long have you managed credit? All of these are factors in determining if you are likely to pay your mortgage payments as agreed.

CAPITAL

This is your net worth: assets minus liabilities. Are you in a positive position? Will you have access to any funds should you incur any unforeseen circumstances.

Not all the five C’s have to be perfect. Not many are. Lenders will mitigate a weaker C’s with emphasis on a strong one if possible. As an example, your capital or net worth may be in a negative position. This could be due to student loans and a new degree in your field of study. This would be emphasized to the lender.

Another example may be bruised credit when you were ill or going through a divorce. However, everything has been paid as agreed for the last year. You have good job stability (character) and are putting 10% down (collateral). These factors may mitigate the bruised credit.

Perhaps your capacity or affordability is right at the maximum ratios and you are fairly new on your job but your credit is A1. We would rationalize that you always prioritize your debt repayment each month.

There are the 5 C’s that lenders analyze when reviewing a mortgage application.

Are you looking for more information about mortgages or the best people to consult in this regard? I can help you with that. Call on me for assistance.

credit reports

CREDIT REPORTS: GDS AND TDS – What does it mean to be “qualified”?

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The word “qualified” gets tossed around a lot when people talk about financing. What exactly does it mean to be qualified in a financial sense? How do lenders make that
determination?

The primary calculations that lenders use are Gross Debt Service Ratio (GDS) and Total Debt Service Ratio (TDS).

These are calculations that determine what percentage of your annual income you will be devoting to paying (or “servicing”) your debts. This includes the debt you’re applying for. These are useful and surprisingly simple budgeting tools that you can use for yourself. They will help keep your financial obligations at a reasonable level.

The calculations look like this:

GDSR = Annual mortgage payments + property taxes + heat / gross family income


TDSR = Annual mortgage payments + property taxes + heat + other debt payments /
gross family income

Most lenders will allow these ratios to go up to 39% GDS and 44% TDS. If you have recorded credit trouble on your credit report (for example, if your score is below 680), they may look for lower percentages, ie 5% GDS and 42% TDS.

In order to determine these numbers the lender needs more information. This is where the credit check comes in. The score is only one component. What also matters are the other payments you are obligated to make each month. A person can have income that results in a reasonable GDS. If there is also a line of credit, car loan, and large credit card balance this could push the TDS way out of line.

Another factor that lenders look at on a credit report is your repayment history.

Most credit sources are “revolving,” meaning the balance can increase or decrease with use.

On the credit report these appear with an R next to them and a number from 1-9 indicating the repayment history. 1 is the best rating, while 9 refers to a debt that’s gone to a collection agency.

Unless your account has been sent to collection, things like cell phone or cable bills will not show up on your credit report and so will not be included in the debt servicing calculation.

It is possible to go into a lot more detail about how credit scores are generated and what all the information on the report means. This is not intended to go into more detail. It is to show how important it is for you and your broker to have a look at your credit even at the pre-approval stage. The information is essential to the process of qualifying you for a purchase since it’s used to calculate your debt servicing ratios.

You will find more information about credit scoring on the Government of Canada’s Office of Consumer Affairs website.

Janice can help put you in touch with a reliable, experienced mortgage broker or you can contact your current financial institution or advisor.

2023 Fall Economic Statement

Federal Government pledges more funding for affordable housing. What does it mean for the average Canadian?

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The Canadian government unveiled its 2023 Fall Economic Statement on November 21. It is an annual fiscal report that provides an update on the state of the Canadian economy. It also outlines the government’s plans for future spending. The report focused on Canada’s housing affordability and supply crisis. In it, the government announced new funding for the creation of more affordable housing and purpose-built rental units. New rules regarding the mortgage stress test were also unveiled.

The initiatives will lead to the creation of more housing in some of the country’s most expensive regions. It is aimed toward those who plan to buy a home or rent a property in the near future. Here’s what you need to know about the 2023 Fall Economic Statement: The Canadian Mortgage Charter Since interest rates started to rise in early 2022, many variable-rate mortgage holders have faced fast-rising monthly payments. In some cases, negative amortization is the result as interest payments outpace mortgage principal. Thousands will also have to renew their mortgage at much higher interest rates in the next two years compared to the ultra-low rates offered during the pandemic. To provide Canadians with mortgage relief options, the federal government has adopted new measures for financial institutions.

These include:

  • Permitting temporary extensions of mortgage amortizations
  • Waiving fees that would have previously applied for relief measures
  • Dropping the requirement for insured mortgage holders to requalify under the insured minimum qualifying rate (stress test) when switching lenders at the time of their mortgage renewal
  • Requiring lenders to contact homeowners four to six months prior to their mortgage renewal to inform them of their financial options
  • Giving homeowners at risk the ability to make lump sum payments to avoid negative amortization, or sell their principal residence without any prepayment penalties
  • Waiving interest on interest in the event that mortgage relief measures result in a temporary period of negative amortization

New funds for affordable housing


In an effort to encourage more homes built faster, billions of dollars in spending have been pledged towards the creation of affordable and purpose-built rental housing. For non-profit, co-op, and public housing providers an additional $1 billion will be allocated over three years.

Through the Affordable Housing Fund this is intended to have more than 7,000 new homes built by 2028. The Co-operative Housing Development Program will also receive nearly $310 million in new funding.

Incentives for apartment builders


To encourage the creation of much-needed rental housing, the Economic Statement outlines new funding for home builders. Starting in 2025-2026, the federal government says it has committed an additional $15 billion in funding for the Apartment Construction Loan Program. This provides low-cost financing to builders and developers. This top-up will support the creation of more than 30,000 additional new homes across the country. It will bring the government’s total goal to 101,000 new homes by 2031-2032.

Tax limitations on short-term rentals

With the demand for long-term housing options so high across Canada, the federal government is placing stricter measures on short-term rentals. It is hoped this will encourage property owners to list their homes for sale or to lease for longer periods. The Economic Statement introduced $50 million in funding over three years to support municipal enforcement of restrictions on short-term rentals. In addition, for provinces and municipalities that ban short-term rentals, there will be another change. Income tax deductions for expenses incurred on short-term rental income will be denied. This will also apply to short-term rental owners who are not compliant with provincial or municipal licensing, permitting, or registration requirements.

If you want to know more about the 2023 Fall Economic Statement, read the full report here.

As always, if you have any questions about real estate in Courtenay and the Comox Valley, be sure to contact me directly.

Real Estate in Comox Valley

Blog Recap of Real Estate in Comox Valley!

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2023 is quickly coming to an end. As the New Year approaches, I thought that now would be a good time to do a year-end blog recap. This way all of my readers have the opportunity to catch up on missed posts and see this year’s real estate blog highlights. In this article, I will be going over a recap of my favourite posts from each month.

Follow along below to see what was written about real estate in Comox Valley in 2023! Don’t forget to stay tuned to this space in 2024! I’ll bringing more valuable content your way, so that you can make the most informed real estate decisions!

What Was Happening With Real Estate in Comox Valley During the Winter & Spring?

home renovation roi janice leffler real estate comox

Jan – Moving from a Property in Comox!

Moving can be one of the most stressful parts of selling your home. On this page, you’ll find tips and resources to ensure that your move goes as smoothly as possible.

Feb – Up Your Chances of Selling Homes for Sale in Courtenay

Before you sell your home, there are a couple of things you can do to attract buyers and return a better profit. In this article, I went over some of the best tips and tricks for sellers! These tried and tested methods are certain to help you as you work towards selling your home. 

Mar – How to Find Possible Issues With Houses for Sale in Comox?

When it comes time to purchase houses for sale in Comox, it’s important to be wary of potential issues with the property. With housing prices and interest rates the way they are, the last thing you want is to spend thousands of dollars on home repairs. To avoid this, I put together a list of ways to help you uncover potential problems in a home. 

Apr – Make Your Kitchen Stand Out in Courtenay Homes for Sale!

Your kitchen is one of the most valuable areas in your home. In this article, I show you how to prepare your kitchen so that it looks its best for potential buyers! 

May – Should I Get a Home Inspection When Buying Courtenay Real Estate?

Getting a home inspection before you purchase a new home may seem like a no-brainer. However, given the right market conditions, you’d be surprised how many buyers neglect to have one done. In this post, I go over all of the reasons why you should get a home inspection before sealing the deal! 

Looking Back at Summer & Fall on My Blog

Courtenay Real estate

Jun – Signs That You Should Buy Comox Houses for Sale

Knowing when to look at purchasing a home is almost as important as having the finances to do it. In this article, I wrote about all of the reasons that you should invest in Comox houses for sale. 

Jul – How to Reduce Humidity in Houses in Courtenay During The Summer?

During the summer, our homes can become a lot more humid than in cooler seasons like winter and fall. To help you keep humidity within a normal range, I shared my top tips for keeping your home less humid. 

Aug – Prepping Courtenay Houses for Sale for an Open House!

Open houses are a great way to attract buyers to your listing. In this article, I go through some of my top tips for preparing Courtenay houses for sale for an open house.

Sept –  Buying New Comox Valley Houses: Pros and Cons

Buying a house is one of the biggest purchases that most Canadians will make in their lifetime. Because of this, buyers must make the right decision about what kind of house to purchase. To help you decide, I went over the benefits and drawbacks of buying new. 

Oct – Simple Ways to Update Your Home for Sale in Courtenay

One of the best ways to update your home on a budget is by taking on a small DIY project. In this article, I go over some of my favourite ways that homeowners can modernize outdated living areas.

Nov – Pros and Cons of Hosting an Open House in Comox Valley

Open houses remain heavily debated in the real estate industry. To decide what the best choice is for you, I put together a list of the advantages and disadvantages of open houses. 

Contact me Today!

Contact me today if you have any questions about buying or selling real estate in Comox Valley. Thanks to everyone for another awesome year! I look forward to working with you again in 2024. Be sure to check back in January for more blog content. Happy holidays everybody!

home inspection courtenay

Common Reasons Courtenay Home Sales Fall Through

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Wouldn’t it be great if every home sale breezed through without a hitch? The offer is made, and accepted, and you’re moved in within 30 days—perfect! Well, that’s sometimes not the case.

Home sales can fall through for a number of reasons, which is why having a REALTOR® on your side is crucial to help you navigate them. Following are five common reasons home sales can fall through.

The Home Inspection exposes major issues


Whether you’re purchasing a brand new build or an older property, getting a home inspection helps uncover defects or repairs that need doing. Minor issues can usually be solved between the buyer and seller. If an inspector finds large cracks in the foundation or a leaky roof, that could be problematic. That can definitely kill a deal or bring it back to the table for further negotiations. It may also require more exploratory work involving what was discovered.

    Sellers can potentially avoid those problems by having their home pre-inspected before putting it on the market. In this way, you can fix minor issues. If you come across a major one, it will give you time to think about how to tackle it when it comes up later.

    The seller’s REALTOR® might suggest disclosing a major issue in the listing and pricing the home accordingly, for example.

    Documents reveal red flags


    If you’re purchasing a condominium, you and your REALTOR® should first review documents pertaining to the building(s). Documents include depreciation reports, meeting minutes, engineering reports, and financial summaries. For example, if you’re looking at a condo in a 10-unit building, you could find out the roof soon needs replacing at a cost of $100,000. You could also find the building’s funding reserve is low. That means to get the roof replaced, everybody would owe $10,000. Depreciation reports can show other expensive items that need replacing, like windows or elevators. This can kill a deal if the costs become too onerous and the strata corporation has not planned for them.

    Financing isn’t approved or a Home Appraisal doesn’t match the sale price

    If you’re not pre-approved for a mortgage, you may not get financing in place which could tank the sale. Even if you’ve been pre-approved, your bank will need to appraise the home you’re buying before finalizing your mortgage. In competitive offer situations, people’s emotions might get the best of them. The price gets higher and the bank might disagree with the value. That means there may be a shortfall from the agreed purchase/sale price. You can still finance a large portion of it, but to make this sale work now, you’d have to bring more money to the table.

      Buyers unable to afford a larger down payment would not be able to secure financing so may back out of the deal.

      Small Details can cause big problems

      Sometimes, buyers and sellers agree on a purchase price but then get bogged down on other points. They can’t agree on occupancy dates or what’s included with the home, for example. A buyer may want to move into the home quickly, but the seller needs more time.

      Usually there’s a creative solution to make it work. The seller could do a rent back for a month or longer, say. It can still spill over to other facets of the negotiation and sour the whole deal though. Sometimes buyers want the seller to include a lot of items. It is usually best to leave that alone and reach terms everyone can agree upon. Then, after the deal is done, the buyers can make them an offer for extras, but keep it separate from the real estate (the home).

        Buyers get Cold Feet


        Until all conditions are met a deal is not done and buyers can walk away if they have a reason for doing so. Conditions to be met may include a home appraisal, inspection, and approval of financing. There could be other conditions as well. It is important for the buyers to pay their deposit too.

          In order for a successful sale to occur, all of the foregoing must be satisfied and signed off on in a timely manner. Get peace of mind by working with a REALTOR® With so many steps involved, working with a REALTOR® is extremely beneficial.

          If you’re working on your own, you don’t have representation to protect and guide you. A REALTOR® looks out for your best interests. I will follow through on all due diligence. This allows buyers and sellers to understand exactly what they are getting involved in. It also lays out the costs and the process so you can feel 100% comfortable with every decision you’re making.

          If you’re buying or selling your home soon, connect with Janice, a local REALTOR® in Courtenay, BC. She will ensure you’re taken care of through the entire process from the expected highs to the unexpected lows.

          Open House in Comox Valley

          Pros and Cons of Hosting an Open House in Comox Valley

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          Are you planning on selling your house in Comox Valley? If you are, you may be considering whether or not you should host an open house. Open houses remain heavily debated in the real estate industry. This age-old debate has brought forward a number of pros and cons. In order to decide what the best choice is for you, we have put together a list of the advantages and disadvantages of open houses. Follow along below to learn more!

          • Pros:

          One of the benefits of hosting an open house is that you attract unexpected buyers. Oftentimes, open houses will draw in potential buyers who happen to pass by the event or those who are just beginning the buying process. In addition, hosting an open house can mean increased awareness from those in your area. Thus, generating a buzz around your property which can in turn attract more serious buyers! Finally, an open house provides you with the unique opportunity to get immediate feedback about your home. This can be extremely beneficial when it comes to assessing the market’s response to your property. 

          • Cons

          For some sellers, hosting an open house can bring up concerns about security and privacy. Since numerous guests can walk through the property, it’s hard to eliminate all of the risks. For instance, theft or visitors accessing off-limits areas. Additionally, many sellers worry that open houses will only attract unqualified buyers or nosy neighbours. Another cause for concern is that the property may become damaged in hosting an open house. Whether accidental or intentional, the risk remains. 

          Contact me Today About Selling Your House in Comox Valley!

          If you are interested in learning more about how to market your house in Comox Valley, contact me today! I’d be happy to help you make sure that you sell your home in a timely manner! For more information about real estate in the area, stay tuned to my blog. And, check out my social media for the latest updates and more. I look forward to working with you soon.