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what buyers are getting right and wrong in the comox valley real estate market in 2026

What Today’s Comox Valley Buyers Are Getting Right (and Wrong) in 2026

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The Comox Valley real estate market in 2026 is more balanced than it has been in recent years. Buyers have more options and slightly more breathing room, but that doesn’t mean strategy doesn’t matter.

Working with buyers across Courtenay, Comox, and Cumberland, I’m seeing clear patterns in what’s working well and where some buyers are getting off track.

If you’re considering buying this year, here’s what I’m seeing on the ground.

What Buyers Are Getting Right

1. They’re Getting Pre-Approved Early

The strongest buyers are financially prepared before they start seriously looking. Pre-approval isn’t just about knowing your budget; it strengthens your offer and reduces stress when the right home comes along.

Even in a more balanced market, hesitation can cost you the home you truly want.

2. They’re Looking at Neighbourhood Fit, Not Just Price

Buyers who succeed in this market focus on lifestyle first.

  • Courtenay offers convenience and schools.
  • Comox appeals to buyers wanting established neighbourhoods and marina access.
  • Cumberland attracts those who value character homes and trail access.

When buyers choose the right area for how they actually live, they’re happier long term, and their resale value tends to reflect that.

3. They’re Thinking Long-Term

The buyers who feel most confident about their purchase are looking beyond today’s interest rates or short-term fluctuations. They’re asking:

  • Will this home work for me in five years?
  • Is this a neighbourhood with stable demand?
  • Does this property offer long-term value?

That mindset creates better decisions.

Where Some Buyers Are Struggling

1. Waiting Too Long to Decide

More inventory has made some buyers overly cautious. While it’s smart to be thoughtful, desirable homes in established neighbourhoods still move quickly when priced correctly.

The key is balancing patience with decisiveness.

2. Focusing Only on Cosmetic Features

I’m seeing buyers fall in love with finishes and overlook fundamentals like layout, lot position, or long-term resale appeal. Cosmetic upgrades are easier to change than location or structure.

3. Assuming It’s a “Slow Market.”

The Comox Valley is balanced, not slow. Well-priced homes are still selling efficiently. Buyers who assume they can negotiate aggressively on every property are sometimes missing opportunities.

What This Means for 2026 Buyers

This market rewards preparation and clarity. It’s not about rushing, and it’s not about sitting back and waiting endlessly either.

Buyers who are having the best outcomes in 2026.:

  • Understand neighbourhood dynamics
  • Prepare financially
  • Know their priorities
  • Act confidently when the right home appears

The Comox Valley remains a highly desirable place to live. That underlying demand hasn’t disappeared; it’s simply shifted into a more strategic phase. Get in touch with me to learn more about buying a home in the Comox Valley this year!

Frequently Asked Questions About Buying in the Comox Valley

Is 2026 a good year to buy in the Comox Valley?
Yes. The market is more balanced than previous peak years, giving buyers more choice while maintaining strong long-term demand.

Are buyers negotiating more in 2026?
In some segments, yes. However, well-priced homes in desirable areas still attract strong interest.

Which area is most competitive right now?
Established neighbourhoods in Courtenay and Comox continue to see consistent activity, particularly for move-in-ready homes.

Should I wait for prices to drop?
Trying to time the market is difficult. Buyers who focus on long-term value and lifestyle fit tend to feel more confident in their decisions.

What’s the most important step before buying?
Financial preparation and understanding your priorities. Clarity makes everything else smoother.

First-Time Homebuyer Tips for a Smooth Process

First-Time Homebuyer Tips for a Smooth Process

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No matter your age, buying your first home is a significant life event. And buying a home at any time, whether you are a seasoned buyer or first-timer, can evoke the same feelings and emotions. It can bring up all kinds of financial and emotional stresses. Being prepared for what’s to come will help put your mind at ease. Following are some tips to minimize stress levels. They will help to avoid hiccups and surprises throughout the process.

Set Limits


Allot a maximum amount of time for house shopping per day. Whether it’s scrolling on socials, websites, etc., set boundaries. Browsing homes for hours on end, listening to everything you hear on social media and the like can get overwhelming.

Build Your Team


You’ll need a real estate agent you’re comfortable working with, a lawyer to review documents, a thorough home inspector, and a mortgage broker to get your financing in order. It’s okay to meet a few of each profession and make sure you get the right team lined up. Asking for a referral from a realtor or friend is a great way to find that perfect someone for you.

Get Pre-Qualified & Pre-Approved


Using a mortgage calculator will help you determine what mortgage payments and subsequent home shopping budget you’d qualify for. A pre-approval looks more carefully at your credit score and income, giving you an estimate of what a bank would lend you. A mortgage broker is the person to help with it.

Create a Budget – And Stick to It


You have to consider more than just your down payment and mortgage payments. The other costs of buying a home—an inspection, moving, closing fees, legal fees—are equally as important. Know how much cash upfront you’ll need and don’t overspend leading up to a home purchase.

Spend Time in Prospective Neighbourhoods


It’ll minimize surprises about the neighbours and habits of the residents. By doing this you’ll get familiar with routines in the area like school buses, playground zones, garbage days and more.

Be Flexible with Your Expectations


Thinking you’ll find a home that’s 100% perfect, at the price you want, with no one else bidding on it… well that’s not very realistic. Set out the absolute must-haves, consider what you can compromise on, and don’t get too wrapped up in just one house. Take your time and wait for one that fits your budget and your expectations.

Monotask


If you’re trying to do a lot of things at once, you’ll become scattered and ineffective, i.e., choosing between houses, calculating expenses, hiring a mover, renting a carpet cleaner, and decluttering your home. Instead of multitasking and trying to get everything done at once, pick just one task at a time and work on that exclusively.

Try a Daily Affirmation


Choose something like: “I am making good financial decisions every day to support buying a home,” “I remain optimistic about finding my future home,” or “I trust that my realtor is working in my best interest.” Repeat it when you feel stress over the purchase, process, or whatever else might be bothering you.

Enlist a Support System


If you’re feeling overwhelmed, lean on someone for support. That might be your broker if you’re confused about a process or requirement. It might be a friend who recently bought a house to confirm their experience. It might be your family or friends to vent, or a gym buddy to get a stress-relieving workout in. Don’t ignore the stress; it can build throughout the process.

I hope these tips help you with your next home purchase. Please share them if you know someone who’s going through it too!

buy a home in Comox Valley

What to do before you buy a home in Comox Valley

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When you decide you’re ready to buy, there are a few simple things you can do to make the home-buying process as seamless as possible. These will also help you get the best possible deal on your new home. Your REALTOR® will help build a plan for your specific needs and timing, but you can start with the basics. Some things to consider are:

  • Making a list of your wants and needs in a home. This will help to narrow your possible choices and give you an idea of what to look for. Do you want a single-family home or a townhouse/condo? How many bedrooms or bathrooms? What other features are important to you?
  • Identify which neighbourhoods you prefer. If you’re thinking about moving to a new area, do a bit of homework online, ask other people you know, or ask your REALTOR® for advice.
  • Find out your credit score and see what you can do to improve it if necessary.
  • Use an affordability calculator or speak to a mortgage professional to figure out how much you can afford to spend on a home. Create a budget to make sure you stay on track financially.
  • Get pre-approval or pre-qualification for a mortgage so you’ll know in advance exactly what price range you should be looking at. Keep in mind that getting pre-approved is a more in-depth and formal process. Pre-qualification gives you an idea what will work for you without going through the more exhaustive pre-approval application.
  • It’s a good idea to find out if you’re eligible for any rebates, home buying plans or other federal home buying programs and incentives. There are several available in certain circumstances. If you aren’t sure what these programs are or whether you qualify, check with your REALTOR®.

I always recommend as a first step to my clients to get their pre-approval. In this way, you are not going to spend time and energy looking at properties that are above your purchasing capability. This can lead to disappointment so it’s better to begin with a realistic approach. Additionally, it will make you more comfortable in making an offer with the knowledge that financing is not going to be an obstacle.

Also, as mentioned earlier, decide what your top neighbourhoods are. Make a list of things you are not prepared to compromise on and those that would be nice to have. When you are prepared and organized, you won’t get caught up in an emotionally charged decision.

Maximize your down payment

If you still have time between now and when you’re planning to buy, try to save as much as you can. The down payment is an important part of the equation when purchasing. It will help maximize your chances of getting approved and getting the best possible rate on your mortgage. If you don’t have enough saved up to afford the home you want, creating a budget can help you save more.

You can also grow your down payment in the meantime. Put what you’ve already saved into a safe, liquid investment like a GIC or high-interest savings account, or temporarily invest your savings in an RRSP, TFSA or the new First Home Savings Account. Investments with a short time frame, such as 12 months or less, should be in savings accounts or cashable GICs. There are a number of providers that offer high interest bonuses to new accounts, so it’s worth doing a bit of shopping.

Buyers who haven’t owned a home in the last four years should also take advantage of the FHSA, which lets you contribute up to $8,000 per calendar year. You get a tax deduction for each contribution, and there is no tax payable when you use the funds to buy your first home.

Additional considerations for first-time home buyers

If you’re a first-time home buyer, there are some additional things you may need to be prepared for. For instance, some first-time buyers aren’t aware of how long the home buying process can take. The time involved in the home buying process can differ from buyer to buyer. Some people are able to find a home in a couple of weeks and others can take much longer. It will depend on your particular must-have list, what is available in the market place, how active it is, and how many others are out there looking.

Something else to keep in mind is that sellers will want a certain time to close. It can vary and may depend on where they are going. Final transfer of ownership could take place in a short or longer period of time after the agreement is signed.

Depending on your budget, you may need to start with a smaller or more modest home for your first property. This can allow you to build both your equity and your experience, while still getting your foot on the first step in the property ladder. Don’t put yourself in a situation where you buy more home than you can realistically afford or maintain. While you may be tempted to stretch your budget to get a home that seems perfect, try to resist. Being “house rich, but cash poor,” can be a very stressful and risky way to live.

For people who are currently renting, a mortgage payment may be close to what they pay in rent. But there are all kinds of other expenses associated with homeownership. Property taxes, insurance, and upkeep are some. If you don’t have exact numbers, use 2% or 3% of the purchase price to estimate your added monthly ancillary costs. You could try living for six months as though you already own the home. See if you can manage it before you make the leap.

Get in touch with me to learn more about how to buy a home in the Comox Valley!

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.
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.