As a Federal Election in Canada quickly approaches, many people have real estate policy top-of-mind. So what will this new era promise, according to each political party platform? 

Key Themes Across Platforms:

• Affordable Housing Development: All parties emphasize building more affordable housing, though their strategies differ in terms of the scale and public vs. private sector involvement.

• Public Land: The NDP, Liberals, and Greens propose using public land to build affordable homes, whereas the Conservatives focus on private sector incentives.

• Rent Control & Tenant Protection: The NDP and Greens are the strongest proponents of rent control, while the Liberals and Conservatives focus on housing supply.

• Speculation & Foreign Ownership: The NDP and Greens are focused on addressing speculative practices like foreign ownership and house flipping, while the Conservatives are less focused on this issue.

2025 Canadian Federal Election Housing & Real Estate Platform Comparison

Are you considering relocating to a new city with a vibrant lifestyle, stunning natural beauty, and a community-oriented atmosphere? Nanaimo, British Columbia, located on the beautiful Vancouver Island, could be the perfect destination for you. Whether you’re coming from Ontario, Alberta, or another part of Canada, Nanaimo offers a unique blend of luxury real estate, outdoor activities, and a laid-back lifestyle that will make you feel right at home. Let’s explore five reasons why Nanaimo should be at the top of your list!

1. Incredible Scenery and Water Sports Paradise

If you love nature, Nanaimo is an absolute dream. The city is known for its breathtaking coastal views, lush forests, and pristine lakes, making it a haven for outdoor enthusiasts. With more than 880 hectares of city parks, 170 kilometers of trails, 18 lakes, and numerous beaches, Nanaimo offers a wealth of opportunities for hiking, cycling, swimming, and water sports. Some of the top spots include Jack Point, Neck Point Park, and Blueback Beach. These locations offer beautiful views of the ocean and provide perfect spots for picnics, wildlife watching, or enjoying a peaceful day on the water. Whether you’re into kayaking, paddleboarding, or simply relaxing on the shore, Nanaimo has it all.

2. Ideal Location with Easy Access to Major Cities

Nanaimo’s central location on Vancouver Island provides easy access to the cities of Vancouver and Victoria, as well as Seattle in the U.S. With several ferry options, including the new Hullo Fast Ferry, which connects downtown Nanaimo to downtown Vancouver in just 70 minutes, traveling to and from Nanaimo is a breeze. Additionally, Nanaimo offers the unique possibility to surf in Tofino and ski at Mount Washington on the same day—both are just three hours away! If you're looking for a place that combines the best of nature, convenience, and easy access to urban amenities, Nanaimo is an excellent choice.

3. Growing Community with Thriving Business Opportunities

As one of the fastest-growing cities in Canada, Nanaimo offers ample business opportunities, particularly for entrepreneurs. With a growing population and increasing demand for services such as restaurants, cafes, and contractors, there’s less competition in this expanding market. Nanaimo is also projected to see a rise in employment opportunities, with over 861,000 job openings in BC by 2029. Whether you’re starting your own business or relocating for work, Nanaimo offers a supportive community and a promising future.

4. Mild Climate for Year-Round Comfort

Say goodbye to harsh winters! Nanaimo boasts a mild coastal climate, with 2,000+ hours of sunshine per year. Winters are typically above zero degrees Celsius with light snowfalls that rarely exceed eight inches. Summers are warm and dry, creating the perfect environment for outdoor living year-round. Whether you’re planning a quiet retirement or raising a family, the climate in Nanaimo allows you to enjoy outdoor activities no matter the season.

5. Vibrant Culture and Strong Sense of Community

Nanaimo isn’t just about its natural beauty—it's also a cultural hub with a thriving arts scene, local festivals, and community events. From the Nanaimo Art Gallery to the lively Port Theatre, you’ll find plenty of opportunities to engage with local art and culture. Additionally, the city’s tight-knit community fosters a welcoming and friendly atmosphere, perfect for newcomers. Whether you’re volunteering, attending a local event, or enjoying a farmers’ market, you’ll quickly feel like a part of this vibrant community.

Conclusion: Discover Your Dream Home in Nanaimo

Nanaimo offers an unparalleled quality of life, combining stunning natural beauty, a mild climate, a growing business community, and a welcoming atmosphere. Whether you’re relocating from Ontario, Alberta, or another part of the country, Nanaimo is a city that offers both a luxurious lifestyle and a peaceful, community-focused environment. If you’re ready to make the move and find your dream home in Nanaimo, get in touch with us today. We specialize in helping people like you discover the perfect property that fits your lifestyle.

There are so many fantastic areas of Nanaimo, but based on many years of experience working in Real Estate in Nanaimo, these are the ones I've found to be the most in-demand.

1. North Nanaimo Real Estate: Ocean Views, Upscale Living & Premier Amenities

North Nanaimo is one of the most sought-after neighbourhoods in Nanaimo, offering breath-taking ocean views, a safe and family-friendly atmosphere, and convenient access to top-tier amenities. From moderately priced homes to executive estates, this vibrant community boasts a diverse selection of real estate options, many featuring stunning vistas of the Salish Sea, Gulf Islands, and Coastal Mountains. Keep in mind, homes in this area tend to be priced higher in comparison to other neighbourhoods due to it being so sought-after.

One of the most prestigious areas of Nanaimo, North Nanaimo provides an upscale lifestyle with a perfect blend of natural beauty and modern conveniences. Residents enjoy proximity to some of the best shopping on Central Vancouver Island, including Woodgrove Mall, as well as a variety of restaurants, unique boutiques, essential services and top rated schools such as McGirr Elementary and Dover Secondary School and Aspengrove School. The area also offers easy access to scenic waterfront parks, beautiful beaches, and an extensive network of walking trails. Be sure to check out Blue Back Beach for some of the best sunsets and a sandy beach. 

Whether you're looking for a luxury oceanfront home or a stylish family residence in a welcoming subdivision, North Nanaimo delivers an exceptional West Coast living experience. Explore North Nanaimo real estate today and discover why this coastal gem remains one of Nanaimo’s most desirable places to call home.

Find properties for sale in North Nanaimo here:
https://www.siyaherman.ca/neighbourhoods/North-Nanaimo/

2. Departure Bay Real Estate: Mid-Century Charm & Stunning Ocean Views

Departure Bay is one of Nanaimo’s most picturesque and charming neighbourhoods, known for its stunning family friendly beach, ocean views, mid-century homes, and a relaxed coastal lifestyle. Built on a hillside, many homes in Departure Bay offer breathtaking panoramas of Departure Bay Beach, the Georgia Strait, and the Coastal Mountains. Residents can watch BC Ferries pass through the bay or explore the area’s beautiful natural surroundings, including nearby Newcastle Island and Sugar Loaf Mountain.

This seaside community boasts a mix of character homes, split-level designs, and luxury residences, many situated on larger lots. A limited selection of condos and townhomes also provides options for those seeking a low-maintenance lifestyle with spectacular views.

Beyond its natural beauty, Departure Bay offers fantastic local amenities. Grab a coffee at Drip Coffee while overlooking the beach, take a swim in the bay, or enjoy a glass of wine at a cozy café in the evening. It's a wonderful place for families, with 2 high-ranking schools, Cilaire Elementary, and Departure Bay Elementary which offers a special program for kids to learn about marine-life. With its mix of scenic beauty, convenience, and timeless architectural style, Departure Bay  remains one of Nanaimo’s most desirable places to call home.

Listings for homes for sale in Departure Bay:
https://www.siyaherman.ca/neighbourhoods/Departure-Bay/

Watch our video about Departure Bay on YouTube:
https://www.youtube.com/watch?v=_UqDA8MQ7eQ

3. Hammond Bay Real Estate: Coastal Living with Stunning Views & Outdoor Adventures

Hammond Bay is one of Nanaimo’s most breathtaking coastal neighbourhoods, offering stunning ocean views, beautiful beaches, and an abundance of outdoor recreation. Nestled between Departure Bay and North Nanaimo, this sought-after community winds along the coastline, providing residents with easy access to Piper’s Lagoon and Neck Point Park—two of the area's most scenic waterfront spots perfect for evening walks, summer swims, and wildlife watching.

The real estate in Hammond Bay consists primarily of single-family homes, with a mix of architectural styles and a few townhome options. Many homes are perched on the hillside, taking full advantage of the panoramic ocean views. The neighbourhood is also home to high-scoring École Hammond Bay school and backs onto Linley Valley, a lush nature reserve filled with walking trails, creeks, and towering trees, ideal for hiking and exploring.

With its unbeatable blend of coastal beauty, outdoor recreation, and family-friendly atmosphere, it’s no surprise that Hammond Bay continues to attract newcomers looking for the perfect West Coast lifestyle.

Find properties for sale in Hammond Bay here:
https://www.siyaherman.ca/neighbourhoods/Hammond-Bay/

4. Jingle Pot Real Estate: Acreage Living with Mountain Views & City Convenience

North and South Jingle Pot feature some of Nanaimo’s most sought-after rural properties, offering the perfect blend of tranquility and convenience. Nestled at the base of Mount Benson, this picturesque valley is home to sprawling acreages, luxury estates, and charming cottage-style homes—all set against a stunning natural backdrop. Whether you’re looking for a private retreat or a custom-built home on a large lot, Jingle Pot provides a rare opportunity to enjoy country living just minutes from the city.

Despite its peaceful, rural feel, this community is only a short drive from shopping centres, Westwood Lake, and some of the region’s best hiking trails. Outdoor enthusiasts can explore Mount Benson’s rugged trails or unwind with a wine tasting at one of the area's local wineries, Millstone Estate Winery. Not only that, it's home to the top private school in the city, Nanaimo Christian School covering Kindergarten to grade 12, an excellent public school, Mountain View Elementary and a newly-built farm based school, Discover Montessori. 

With its breathtaking mountain views, expansive properties, and easy access to modern amenities, Jingle Pot is the ideal place for those seeking space, privacy, and a strong connection to nature—without sacrificing city convenience.

Browse homes for sale in this area
North Jingle Pot: https://www.siyaherman.ca/Neighbourhoods/North-Jingle-Pot/
South Jingle Pot: https://www.siyaherman.ca/Neighbourhoods/South-Jingle-Pot/

5. Old City Quarter: Heritage Character Homes, Arts & Culture and Walkable Waterfront Living.

You will always have something fun to do in this district! Wonderfully walkable for retirees and all ages alike to enjoy socializing in cafes (Vault, White Rabbit), bakeries (Misty Pines, Mon Petit Choux), unique restaurants (Gabriel's, Asteras) and pubs (Milton St Public House, Occidental). It will be easy to entertain guests with local shops featuring artists and goods from the region, museums, galleries and street markets. Get out of the city bustle to Maffeo Sutton Park and Swy-a-Lana Lagoon where the kids can play on an epic playground or dip into the shallow ocean pool. Take a quick trip over to Protection Island to the Dinghy Dock Pub from the marina, or enjoy the views of it from the shore with an ice cream from JavaWocky.

The downtown core is only a 5 min walk, and it's currently getting a streetscape makeover to be more walkable, with pedestrian-friendly outdoor patio and dining areas for picnics and lounging in the warmer months. If you haven't been to the Commercial Street Night Market, make sure to check it out this summer, the food trucks are a highlight!

Inner-city living is wonderful for families, with colourful heritage homes and imagination-building activities, access to nature, and the top-ranked school in the city, École Pauline Haarer Elementary. 

View listings in this area here:
https://www.siyaherman.ca/Neighbourhoods/Old-City-Nanaimo/

See a bit of the Old City Quarter featured in our video on Youtube:
https://youtu.be/FJ0v2zumkQw?si=3o_cmIM1i8_6T6tS

Local Wineries, Florists, and Chocolatiers Make Vancouver Island a Year-Round Valentine’s Retreat.

Imagine waking up to breathtaking mountain views, sipping organic wine from a local vineyard, and indulging an endless ocean sunset—all from the comfort of your dream home. Unsworth Vineyards was spot-on when they dubbed the Mid-Island region, “Canada’s Provence.”

As a real estate professional specializing in luxury homes in the Mid-Island, I’m passionate about helping buyers find not just a house, but an exceptional lifestyle. Whether you’re searching for a waterfront estate, acreage surrounded by local food and wine, or a seasonal retreat, this region offers a rare opportunity to experience the perfect balance of elegance and nature. We've put together a curated list of our top chocolate-makers, wineries and florists in the region, and in our gift baskets, to help raise a toast to your new home! 

Blue Grouse Winery, Duncan

1. Top Wineries for a Romantic Escape

• Averill Creek Vineyard, Duncan – We love their champagne for its light, perfectly tart and bubbly, which is why it has become such a staple in our gift baskets.

• Unsworth Vineyards, Cowichan Valley – A local spot to indulge in our Mediterranean micro-climate of the Cowichan Valley.

• Blue Grouse Estate Winery, Duncan – Sustainably farmed, award winning wines on one of the Island's oldest vineyards.

White Rabbit Coffee Company and Botanist's Daughter

2. Top Florists for Stunning Arrangements

• Cory Lynn Floral Designs, Nanaimo – Exquisite floral arrangements for any occasion.

• Turley’s Flowers, Nanaimo – A trusted name in elegant bouquets and floral décor.

• Botanist’s Daughter & White Rabbit Coffee – Botanist's Daughter curates unique plant arrangements and has teamed up with our favourite local café, White Rabbit Coffee in Nanaimo's Old City Quarter right across the street from our new office. They have put together a Valentine's Day special combo of fresh cut flowers, and a coffee.

Kinsu Chocolates

3. Top Chocolatiers for Gourmet Indulgence

• Denman Chocolate, Denman Island – Organic chocolate from one of the picturesque Gulf islands off our coast.

• Kinsu Chocolate, Nanaimo – A premium chocolate experience perfect for pairing with local wine.

Your Dream Home Awaits

Owning a luxury home in Nanaimo or Mid-Vancouver Island is more than a real estate investment—it’s an invitation to embrace a lifestyle of refinement, tranquility, and indulgence. Whether you’re looking for an exclusive waterfront property, a private estate, or a seasonal retreat, this region offers unparalleled opportunities for luxury home buyers.

Are you ready to make your dream a reality? Let’s find the perfect home that complements your vision of luxury living. Contact me today to explore exclusive listings and discover how you can experience the best of Mid-Vancouver Island real estate.

If you’re a homeowner or buyer in Nanaimo, Parksville, Qualicum, or anywhere in Vancouver Island’s mid-island region, you’ve probably noticed a gap between BC Assessment values and the actual selling prices of homes. This difference can be confusing, especially for sellers who are planning to list their properties or buyers trying to understand property value.

In this blog post, we’ll explore why BC Assessment values often don’t match the fair market value and what it means for you as a buyer or seller in the mid-island real estate market.

1. Timing of BC Assessments

One key reason for the difference is timing. BC Assessment determines property values as of July 1 of the previous year. By the time assessments are mailed out in January, the real estate market may have changed significantly.

For example, Nanaimo’s housing market can experience seasonal shifts and rapid price increases, especially in desirable areas like Departure Bay, Hammond Bay, or Jingle Pot. By the time the new year rolls around, the market value of your property might already be higher than the assessed value.

2. Mass Appraisal vs. Individual Appraisal

BC Assessment uses a mass appraisal system to evaluate property values. This method analyzes general trends, neighbourhood characteristics, and property features. While efficient, it doesn’t account for specific property upgrades or unique features that could increase a home’s fair market value.

For example, a recently renovated home in Parksville with new kitchens and bathrooms may still be assessed at a value similar to neighbouring homes that haven’t been updated. This can lead to assessed values that are lower than what the home might sell for in the current market.

3. Conservative Valuations

BC Assessment tends to take a conservative approach to property values. Their primary goal is to ensure fairness in property taxation, not to reflect the exact market value of a home. Overestimating a property’s value could lead to appeals and disputes, so assessments are generally cautious and may understate the true value.

4. Market Dynamics Aren’t Captured

The assessed value doesn’t consider market dynamics like bidding wars or emotional buying decisions that often drive up prices in competitive areas.

For instance, homes in high-demand areas like Qualicum Beach or North Nanaimo often attract multiple offers, pushing the sale price well above the asking price. These competitive elements aren’t reflected in BC Assessment values, which are based on past sales and trends rather than current demand.

5. A Tool for Taxation, Not Valuation

Finally, it’s important to remember that BC Assessments are designed for property taxation purposes, not for setting market prices. Their goal is to create an equitable baseline for tax calculations, not to provide a real-time evaluation of your home’s worth.

What Does This Mean for Buyers and Sellers in the Mid-Island Market?

For Sellers

If you’re planning to sell your home, don’t rely solely on your BC Assessment to set your asking price. Instead, consult the Siya Herman Team of local real estate experts who understand the nuances of the Nanaimo and mid-island markets. A professional realtor will assess your property’s unique features and the current market conditions to help you determine its true fair market value.

For Buyers

As a buyer, don’t be surprised if the selling price is significantly higher than the BC Assessment. Use the assessment as a general reference but work with a skilled realtor to understand the market dynamics and negotiate a fair deal.

Need Expert Advice?

Whether you’re buying or selling, navigating the mid-island real estate market can be complex. As a local real estate professional, I’m here to help you understand property values and make informed decisions.

Contact me today to get a free market evaluation or to discuss your real estate needs in Nanaimo, Parksville, Qualicum Beach, or anywhere in Vancouver Island’s mid-island region.

What Buying a Home Really Costs - A simple breakdown of purchasing costs

You might think the cost of purchasing a home is obvious, but sometimes, wrapped up in the excitement, some expenses get forgotten or are just not something you would have ever thought about. To help you cross your "T's" and dot your "I's," I have put together a list of costs and considerations to help you better understand the expenses associated with the home buying process.

Get cost acquainted

Before making an offer, it is wise to consider all potential expenses to ensure you are not left feeling surprised and overwhelmed. I have provided additional links below to allow you to delve a little deeper into understanding those costs. 

If you are a first time home buyer, find out if you qualify for the BC First Time Home Buyer's grant by checking out this link http://bit.ly/2Tb0vKx.

Interested in finding how much you need for a downpayment and what your monthly payment obligation will be? Follow this link here: http://bit.ly/3ailwsw. 

The links above are a great place to start when assessing what you can afford. Once you have an idea of where you stand, book an appointment with a mortgage broker or bank to discuss pre-approval.

Making an offer to purchase

You have finally found the 'one' and have an accepted offer. That offer may include subjects like:

• A home inspection.
• An appraisal
• Land survey 
• Home Insurance policy

Tip: Get multiple quotes from different home insurance companies and interview at least 3 home inspectors.

Property Transfer Tax. What is it, and how much?

In British Columbia, property transfer tax, and prorated property taxes are paid on closing day. This payment goes to the municipality where your new home is located and is paid annually after that. 

To get an estimated property transfer tax cost, follow this link: http://bit.ly/2I9urjG 

Other costs to consider

• GST if your home is a new build, commercial or rental/Airbnb.
• City or strata fees.
• Lawyer/notary fees for registering the property and transferring the land title.

 Tip: Reach out to your accountant to verify if your new home purchase might include GST, Speculation & Vacancy Tax or Foreign Buyers Tax.

Moving Day!

Are you hiring a moving company or doing it yourself? Are you planning any renovations and have those expenses been considered? Don't forget, TV, phone, internet, heat and electricity. Creating a checklist is a great way to ensure you don't miss anything and can track your expenses to make sure you stay on budget.

Breaking It All Down

Here are the costs we have discussed so far to help narrow it down for you. The calculation below is based on a $450,000 single-family, detached home with the first time home buyer grant. Please note, these are rough estimates, and I recommend meeting with a mortgage specialist to discuss exact amounts, as every situation is a little bit different.

• Down payment (10% with first time home buyer grant): $45,000
• Monthly mortgage payments (25-year amortization on a 5-year fixed term): $1846 per month
• Home Inspection: $500
• Septic Inspection (not applicable for all households) $500
• WETT Inspection (older wood stove): $150
• Appraisal: $300 (if lender requirement)
• Insurance: $1000 per year
• Property transfer tax (rebated at Lawyer's with first time home buyer's grant): $7000 
• Property taxes: $3696 per year
• City or strata fees: $300 per month
• Lawyer/notary fees: $1200
• Other (moving, furniture, utilities, repairs): $5000

Total after closing day: $52,192 (Reminder: this is after the first time home buyer's grant).

The total you can expect month over month: approx $2504 + utilities.

***Disclaimer: these are rough estimates. I recommend meeting with a mortgage specialist to discuss the exact amounts.

Buying or selling your home is a big deal! It’s not every day that you get to make one of the biggest financial decisions of your life. Knowing this, I have come up with a list of items that you should be mindful of when working with a Realtor. This way you can optimize your experience, and your Realtor can do their best!

1. Choose the right Realtor

You’re the one in the interview seat! I highly recommend that you interview a couple of different Realtors that you have already done your research on. In this day in age, you can find out a lot about a Realtor by simply checking out their Facebook, or Instagram account. What should you be looking for? Someone that aligns with who you are. It helps to have something in common with your Realtor as you are going to be spending a lot of time with them on a very big, personal purchase or sale. 

Once you have chosen your Realtor, it’s important to commit. Unless they aren’t doing their job. Then you have a right to decline your Realtor. However, if you’re working productively with them, ensure that you’re consistently working with only them. When you see a home you’d like to view, don’t call the listing agent. Reach out to the Realtor you have chosen. When going to an open house, bring your Realtor with you, or be transparent that you’re going to that open house without them.

Committing to just one Realtor gives them the opportunity to focus extensively on your purchasing goals. 

2. Be specific

So you have chosen a Realtor that is working for you. Now is the time to give them all the details including getting pre-approved. Find out what kind of product you can afford and want. When you hop online and find your dream home, give your Realtor the address AND MLS number if you can. Along with your product description, be sure to let your realtor know your expectations. How many homes do you want to see in a week? Where are you at with regard to your knowledge of your preferred product? To relay this information, phone calls or in-person meetings are important, but so are emails and text messaging. Having a record of your discussions will only help your Realtor assist you better.

3. Understand the scope

Although Realtors are not lawyers, engineers or accountants, they can definitely do their due diligence in getting you in touch with someone that is. Just because a Realtor doesn’t know the answer on the spot, doesn’t mean they don’t know what they’re doing. A professional Realtor will hunt down someone that does know what you’re asking and get you the right information!

4. When NOT to vacation

It’s a very bad idea to go travelling in the middle of your transaction. It can jeopardize the entire process, and you could lose your offer all together! Be open with your schedule. If you have plans to go on a holiday over the next couple of months, let your Realtor know, so you can work out a schedule that best meets your purchasing needs.

5. Realtors are human just like you!

Chances are your Realtor has family, friends or even a gym membership! Your Realtor needs a good work-life balance in order for them to be their best during your transaction. A good Realtor will be open with you on their hours of operation. Make sure you give them their personal time just as you would with any other professionals you work with.

6. Understanding “commission”

The unspoken myth of commission - Realtors make ‘too much.’ Well, after brokerage fees and an extensive marketing plan, Realtors can make a living. However, they don’t make any profit until the closing phase of a transaction. 

I chose to become a Realtor because I love to collaborate with my clients in every aspect of their transaction. I enjoy being a part of an emotional, yet exciting life phase whether it’s closing one chapter by selling your home, or opening another by purchasing your home. If I have done a good job with assisting you through that phase, then I receive compensation. I don’t receive any compensation until you are satisfied, and your transaction is closed.

It’s important to be open and honest with your Realtor if you ever find yourself unsatisfied with your experience. Give them feedback on what is bothering you. A professional Realtor will take that feedback in stride, and try their best to find an alternative that works best for you and your goals.

G I V E A W A Y - Happy 2020, it's the start of a new decade and we want to inspire you to practise self-care and self-love to bring out your best self for 2020.

With the help of a few fantastic local companies, I have put together a Well-Being Gift Box to shower you with some of my favourite self-care products all made locally here in Nanaimo. The winner will get skincare products from @matkahollistics and @curesoaps, and collagen powder from @goodlifejuice.

Total value: $150

Bonus points for tagging your friends and for sharing this post in your Instagram story

Good luck!

How to enter.

1. See the Rafflecopter box below.
2. Log in using either your email address or your Facebook account. 
3. Click on the action, and once you click the entry requirement, your entry will be noted. Every step you complete increases your number of entries.
4. Our giveaway will run until February 13. The winner will be contacted directly via email or Facebook on February 14.

a Rafflecopter giveaway

Buying a home is one of the most significant purchases of your life, so it's essential to have all of your bases covered! Whether it's your first or fifth home, this list will guide you through your real estate journey to help you think critically and make smart choices.

Step 1: Priorities First

Neighbourhood | Lifestyle | House Considerations:

Before you begin building your list of dream homes, stop and consider your motivations and lifestyle needs.

Identify your needs vs. wants:

Identifying your needs from your wants will give you a greater sense of clarity and help with staying on budget, limiting house hunting frustration and disappointment.

A NEED is something you must have when purchasing a home.

A WANT is something you can easily add or change to the home in the future.

Get clear on your financial health:

Before you start shopping around for a lender, order a copy of your credit score. Knowing your credit score in advance will help you better prepare, whether that is saving up a larger down payment or taking measures to improve or build your credit before going through the application process.

To get an accurate credit report order it through Equifax Canada or TransUnion

Canada, they both offer different information to help you on your way to financial peace

of mind.

Talk to a financial planner and get pre-approved:

Get your mortgage pre-approval from your bank or mortgage broker. This can be a long process, so the earlier you start, the better prepared you will be. 

What is the difference between a mortgage broker and a bank? 

A bank can only apply for a mortgage with the bank they are associated with. Whereas a mortgage broker works with multiple lenders to ensure you are getting the best rate.

Picking the right real estate agent:

Pick a realtor that you feel understands your needs and wants. Have a buyer consultation with three agents and choose the one you think is right for you.

Step 2: Starting the Search

Tools:

Have a Private Client Search set up, so you receive all new listings. The search is specific to your criteria and can be changed at any time

Research:

Once you have established a list of potential homes, take a drive by the house and get a

feel for the neighbourhood. Pictures and listing descriptions don't always tell the full story.

Viewing homes:

You may fall in love with the first home you view, or it might take twenty; however, when you find the right home, you will know.

Writing an offer:

Once you have found the right home, it is time to negotiate and prepare an offer.

Accepted offer:

After you have an accepted offer, it is now time to make sure the terms and conditions of the contract are met before subject removal. *(Typical terms include: Financing, Inspection, Title, PDS, Due Diligence, Deposit, Insurance).

Subject removal:

Once you are satisfied with the terms of the contract and have financing approved, we can remove subjects! With subjects removed, the property you have purchased is now considered sold, and the deal is firm and legally binding.
 

Completion:

With the contract now firm, it is time to prepare for completion.

- Meet with your lawyer or notary to sign documents.

- Prepare a bank draft for the amount to be provided by notary/lawyer.

- Make sure utilities are transferred and set up in your name for the day of completion of your new home.

Moving Day/Possession:

Possession day is the day you get the keys and can take physical ownership of the property. Possession may be the same day as completion of the following day, depending on what is written in the contract.

Step 3: Relax and enjoy your new home
Time to celebrate, invite your friends and family and unpack and relax.

So you’ve taken the plunge and decided to turn your space into an Airbnb - it’s a great idea and can become a fabulous source of passive income (as long as you’re properly registered!). However, there are a lot of moving pieces that come along with hosting guests.

Yes, Airbnb is full of beautiful photography and carefully curated spaces, but that doesn’t mean it isn’t a ton of work. I’ve put together a great list of “Do’s and Don’ts” for you to consider before you go crazy on the Urban Barn website!



Don’t slack on your listing. You have to consider that there are hundreds of places to stay in your area, so what is setting your Airbnb apart from the rest? Number one, splurge on professional photography. Having carefully curated photos showcasing your space will bump up your bookings! It’s also important to invest in a good cleaner who understands your Airbnb setup (you can add a cleaning fee to your listing to offset this cost.) Try to remember that you are investing in your own little business, and while it may seem silly to buy a brand new dishware set that you’ll personally never use, it will mean the world to your guests. No one wants to show up to a space they’ve paid good money for to find there are mismatched plates. 

Do make yourself aware of the regulations. It would be awful to have spent tons of time and energy on your listing and find out you didn’t check all of the boxes required to make it legal. First and foremost, it’s important you obtain a business license. Airbnb has a great article about the possible regulations in the Lower Mainland and Victoria, but it's important to look into your local laws on the matter. In February of 2019, Nanaimo counsel recommended seven actions to regulate short-term rentals, which included: ensure that zoning regulations that apply to bed and breakfasts are extended to short term rentals, and determining an appropriate fine for listing a short-term rental without a valid license. For more information on the proposed regulations for short term rentals in Nanaimo, click here. 

Don’t overdo it on the rules. People don’t want to feel like they’re in high school again (does anyone?!) Of course it’s fine to put common rules and regulations like no smoking or quiet hours, but spending hours on a thick “RULES” book left dramatically in the middle of the coffee table will not make your guests feel welcome. Sure, the house manual needs some guidelines about how to operate the baseboard heating, but not the manifesto of behaviour! Pro tip: Don’t forget to specify on your space being pet friendly. If you’re okay with pets, be sure to decide what size you’re going to max out at. 



Do communicate often. As with anything, the easiest way to avoid conflict is to keep the lines of communication open and straightforward. People will not read four pages of your listing, so try to keep crucial points at the very top. Make sure you have filled out as much as possible on the Airbnb listing, and automate the check in process as much as possible. The more you communicate with your guests, the more likely you are to build a great rapport and have them refer friends to your listing. Or rebook the next time they vacation in your town!

Don’t overlook the small details. Make sure you spend some time in the space to get a sense of the guest’s experience: is there enough space in the closet? Is the kitchen stocked with enough equipment to prepare a meal? Pro Tip: Stay in the space yourself for at least a night, preferably longer in order to learn what finer details you might miss otherwise! And don’t forget about those little finishing touches. Leaving a small gift like a bottle of wine, beer, or fresh local baked goods for when your guests arrive will make them feel welcome and excited to explore your area. Another great idea is having a guest book with local tips, great places to adventure, and where to grab a bite in your town!



Do be prepared for problems. It's always better to under promise and over-deliver than seemingly guarantee an amazing place but fail to mention any little issues that could have a negative impact on your guest’s stay (it’s also a great idea to charge a security deposit through Airbnb.) Identify potential hazards, such as exposed wires or possible tripping hazards, and resolve or clearly mark them. Replenish the first aid kit, and supply emergency instructions, including a list of contacts for local services and the closest hospital. If the emergency exit is not already marked, provide a map for guests.

And there you have it! What kind of do’s and don’ts have you considered when trying to decide whether or not to host an Airbnb in your home? I would love to hear your ideas!