Many people like to wait
until the busy spring market to sell their homes. However, this year in Nanaimo we are experiencing
a seller’s market. A seller’s market is
when there are more buyers than sellers in the market place. Right now we are experiencing very low
inventory levels which means that if you list your home and price it at market
value, you stand a very good chance of selling it quickly.
Buying a three bedroom home vs. a two bedroom home
There is no question that
here in Nanaimo a 3 bedroom home has much better resale value than a 2 bedroom
home. There is a much bigger market for
3 bedroom homes because the third bedroom opens up all sorts of usage options
from a place to sleep to a media room or just a place to store things. Two bedroom homes exclude people with
families as there just isn’t enough room.
Great time to buy an investment property in Nanaimo or Parksville
According to the rental
market survey released by CMHC the average vacancy rate in Canada's major
centers was 2.9%. In Nanaimo it is 2% and in Parksville 1%. The
vacancy rates in both towns are well below the average. The low vacancy rate is a good sign for
investors wishing to become land lords.
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