by Dave Koszegi
on Tuesday, October 1st, 2019 at 11:06am.
With the autumn colours coming into their full vibrancy, our streets, parks, and cityscapes in the Alberni Valley are looking truly beautiful! With the kids back in school and that cosy “fall feeling” upon us, it’s a really special time of year.
Those reasons aside, we provide you with our three expert insights on why you should consider a real estate purchase in Port Alberni this fall:
Sellers are tired - and they’re SERIOUS about making a sale!
Pricing a home properly is THE most important part of selling, and unfortunately, some sellers are over-confident with their pricing during the prime selling season; spring. By pricing their homes more than what the market is looking for, they likely have seen months of little to no action on moving their home. They may be more willing to reduce the price of their home now or accept a lower offer, which puts the buyer in a position to negotiate. However, that said - fall is known as the “second spring” in Real Estate here on Vancouver Island, largely thanks to our mild climate. Many sellers will CHOOSE to list their property in autumn, and these sellers tend to be serious - perhaps they are having their next home built, they’re relocating, or they want to take advantage of the fall market to make a smart investment.
Benefit from tax breaks and year-end sales to outfit your home
Who wouldn’t want to make the most of their purchase? Part of being a wise Real Estate investor means considering all of the home ownership costs and tax implications. In addition to your mortgage, you’re also responsible for all those utility bills, property insurance, property taxes, and maintenance costs associated with operating a home. However, you may qualify for some tax breaks that can help offset some of those costs - ask us for more details on these! Plus, you’ll likely want to get your home set up to your liking and make some improvements. You might as well coordinate your purchases with year-end sales! Major appliances, cookware, paint, outdoor furniture, and building supplies all tend to go on sale this time of year.
Get Into Port Alberni’s Housing Market
It’s a great time to get into Port Alberni’s housing market! As mentioned in last month’s report from the Vancouver Island Real Estate Board, “trend-wise, VIREB’s housing market has transitioned from one favouring sellers to one that is balanced and, in some areas, it is shifting towards a buyers’ market. ” and the report goes on to include our rising property values; “The cost of a benchmark single-family home in Port Alberni reached $318,200 in August, a five per cent increase from one year ago.”
There we have it - three great reasons to make a move in Port Alberni this autumn! If you want to make a savvy investment BEFORE the holidays, NOW is your window of opportunity.