Updated over 6 years ago on . Most recent reply
Canada? Anyone buying homes on Vancouver Island?
Got our first organic lead through our webpage, but it's in Canada! Any investors buying/selling in Canada? Specifically Vancouver Island?
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#2 General Landlording & Rental Properties Contributor
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#2 General Landlording & Rental Properties Contributor
I have a few places on Vancouver Island. The prices have gone up a lot over the last few years and vacancy rates are very low. I bought my places about 4 years ago as I plan to eventually retire there and I wanted a foot into the market there, so my house there would change with the local market. Plus buying early enough that I can pay them off and use the rental income in my retirement.
If you are not Canadian, you will want to look up where the place is located on the island and if additional taxes apply. BC has a property purchase tax for all buyers, but an additional tax for non-Canadians. This applies to a number of areas on Vancouver Island.
Jason Ridout, John Humphries and Kris Bucci (not sure how to tag people) are BP members who have more experience in central Vancouver Island (Nanaimo-Qualicum and Port Alberni), a bit further north (Comox Valley) and Victoria.