NANAIMO MARKET STATS JUNE 2018-1

The Nanaimo Monthly Real Estate Market Stats provide a snapshot into what’s happening in the Nanaimo Real Estate Market. Find out where the market has slowed down and where it’s keeping pace. 

– Total units sold and how many homes sold in your neighborhood?
– Number of days to sell 
– Average sale price

Find your next home: http://bit.ly/2npLunS
Find a REALTOR®: http://bit.ly/2H6IRi0

☎ (250) 751-1223 
📧 [email protected]

The Nanaimo Monthly Real Estate Market Stats provide a snapshot into what’s happening in the Nanaimo Real Estate Market. Find out where the market has slowed down and where it’s keeping pace. 

– Total units sold and how many homes sold in your neighborhood?
– Number of days to sell 
– Average sale price

Find your next home: http://bit.ly/2npLunS
Find a REALTOR®: http://bit.ly/2H6IRi0

☎ (250) 751-1223 
📧 [email protected]

Nanaimo Market Stats January 2018

The Nanaimo Monthly Real Estate Market Stats provide a snapshot into what’s happening in the Nanaimo Real Estate Market. Find out where the market has slowed down and where it’s keeping pace. 

– Total units sold and how many homes sold in your neighborhood?
– Number of days to sell 
– Average sale price

Find your next home: http://bit.ly/2npLunS
Find a REALTOR®: http://bit.ly/2H6IRi0

☎️ (250) 751-1223 
📧 [email protected]fnanaimo.com

Owning An Investment Property, Adam Hawryluk, Mortgage Specialist

The Simple Hack To Owning An Investment Property

Many Canadians dream of one day owning an investment property. Unfortunately, in the face of tightening qualifying regulations and the significant down payment required to purchase one directly (20% minimum for rental purchases) most feel it is difficult turning that dream into a reality. Despite this, there is good news! Thanks to savvy investors, there is straightforward process to side-step most of these big hurdles.

Owning an Investment Property

Step 1: For Your First Home, Buy with Your Head, Not with Your Heart

As a real estate investor, you want to make sure the first home you buy (Home #1) will eventually be suitable as a rental property. Because this home is bought for you to live in, you can purchase it with as little as 5% down payment, using CMHC mortgage default insurance. Don’t buy Home #1 solely because you love the neighbourhood, or because it is close to your work, as future renters may not value these aspects as much as you do. Consider up-and-coming neighbourhoods, which may allow you to purchase a property at a better value with the option of renovating as you live in it, if necessary. Work with your REALTOR® to maximize this value and lean on them for their expertise.

Step 2: Start Saving for Home #2

The key here is to take your time gathering your money for the down payment on your next home. Because your plan is to eventually move into your next home, you can purchase future Home #2 with as little as 5% down payment as well (or save up the 20% to avoid another default mortgage insurance premium). If Home #1 has increased significantly in value since you purchased it, you may be able to tap into some of it’s equity to help bolster the down payment for your next home.

Step 3: Qualifying for Home #2

Using the down payment you’ve saved up or the equity in Home #1, find out how much of a mortgage you can qualify for with your next home. Note: not all banks/lenders use the same formula to determine this dollar amount. Since Home #1 is going to turn into a rental property, lenders will use an appraiser to determine how much rental income this home can expect to earn each month since nobody can expect you to have a signed lease in place while you still live there. That determined income is then considered into your financial picture to calculate your maximum purchase amount for Home #2.

Step 4: Buying Home #2

If your goal is to have one rental property and one home for yourself, you can then look at this property through the lens of what would be ideal for you. Again, work with your REALTOR® to determine the neighbourhood, schools, facilities, layout, etc. that works best for your situation. If the intention for this property isn’t for you to live in forever, start back at Step 2 again and start saving!

The key to owning an investment property and buying homes in this manner is that the intention MUST be for you to live in them. This is not a “*wink-wink, nudge-nudge* suuuure you’re going to “live in this house” *wink-wink*”  shady type situation. CMHC has rules about your intentions for the property and how long you must reside in it, as does any mortgage lender for the property. All these people have in common is that they don’t plan on being in that property forever. Their time-frame may be three years or thirteen years, but they buy Home #1 with the thought in the back of their mind about how well it will function as a rental property in the future. The hardest part is actually BEING a (good) landlord, but that’s another post of its own.

Search Investment Properties   |   Property Management Services

The Nanaimo Monthly Real Estate Market Stats provide a snapshot into what’s happening in the Nanaimo Real Estate Market. Find out where the market has slowed down and where it’s keeping pace. 

– Total units sold and how many homes sold in your neighborhood?
– Number of days to sell 
– Average sale price

Find your next home: http://bit.ly/2npLunS
Find a REALTOR®: http://bit.ly/2H6IRi0

☎️ (250) 751-1223 
📧 [email protected]

Saving Money, Energy, Real Estate

6 Tips For Saving Money Around Your House

Owning a home and keeping it in tip-top shape can be costly. Small costs can quickly add up and sometimes become overwhelming. Here are a few tips for saving money around your house, anytime of the year.

Tips for saving money.

1. Rent or borrow tools.

If you have a project to do but don’t have the right tools, look at renting or borrowing them. If your project is a one-time job and you won’t need the tools again once it’s finished, it doesn’t always make sense to buy them.

2. Install programmable thermostats.

This will keep your home at the optimum temperature without having the thermostats pushed up and down to extremes.

3. Seal air gaps around windows and doors.

Caulking and weather stripping are inexpensive fixes and ensure you’re not losing heat during the cooler months, or air-conditioned cool air during the warmer months.

4. Clean out vents and air ducts annually.

To prevent dust buildup and don’t block air vents with furniture. Replace furnace filters each fall so your furnace runs more efficiently through the winter.

5. Turn off the lights.

Old fashioned incandescent bulbs give off 90% of their energy as heat and only 10% as light. Turn off lights in rooms you’re not using and switch to LED or compact fluorescents to save on energy costs around the house.

6. Use a push mower to mow your lawn.

Don’t knock it until you try it! Sure it’s a bit harder than pushing an electric or gas mower, but you’ll save money on your gas or hydro expenses during the year. And it’s good exercise, especially if you have a slope in your yard.

Each of these items will save you a bit of money each month. But, add them all up and you’ll find that the savings can be significant over the course of a year.


If you’re looking to buy a new home, or have one to sell, call RE/MAX of Nanaimo today at (250) 751-1223 and one of our expert agents will be happy to help.