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Buying a house in Victoria BC means you are investing in one of the most desirable real estate markets in all of Canada. First time home buyers are sometimes a little intimidated and wonder where they can find affordable homes in Victoria. An experienced first time buyer expert can counsel you on which Greater Victoria municipalities might offer housing options to suit your needs (and budget). Victoria, along with all of southwestern British Columbia, has a reputation of high real estate values, but on the whole, Victoria real estate prices are more reasonable than its neighbour across the water, the city of Vancouver. Across the Greater Victoria area there are a wide range of housing options and a correspondingly wide range of housing prices, so with a little help from an experienced realtor you will find the right home at a price you can afford. As is the case in any city, the further you travel from town the better your chances of finding more affordably priced properties. Sooke, the most remote of Victoria’s municipalities, has plenty to offer first time buyers. MLS statistics for Sooke (2010) show the lowest median price for single family homes in a thriving rural community with a lively arts scene. Many young families move to Sooke where they can afford that big house with a yard for the kids. The seemingly isolated community of Highlands has some of the lowest lot prices, and this scenic rural area is only a 15 or 20 minute commute to downtown Victoria. In Colwood you’ll see the lowest median prices for condos, and neighboring Langford’s MLS stats are very similar. Both these municipalities are popular with first time buyers due to relatively low housing costs and proximity to Victoria. Local government has invested wisely in infrastructure to support development in these communities. Saanich MLS stats reflect that the largest municipality in the Greater Victoria area offers diverse, well-priced housing options including condos, townhomes and manufactured homes. For those who are a little further up the property ladder you can find median-priced and luxury homes in various settings in this vast and varied municipality. Other municipalities you should investigate at for moderately priced condos and townhomes are View Royal and Esquimalt, and both of these two are adjacent to the city, offering a short commute to downtown Victoria! Just for comparison you should look into the MLS statistics for Victoria, Oak Bay, Metchosin, Central Saanich, North Saanich and Sidney. These very desirable communities are probably not within reach of most first time buyers, but you never know where you’ll find affordable homes in Victoria BC with the help of an experienced realtor. After all, it never hurts to look, and might give you a goal to strive for!
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