Why it makes sense to buy real estate in Nanaimo
Now, is the right time to invest in real estate in Nanaimo. I'd like to share with you why I believe the time has never been better to buy real estate here in Nanaimo.
Nanaimo is poised for growth. I believe this to be the case for the following reasons:
1. Vancouver, our neighbour across the strait, has one of the most expensive housing markets in the world. When I see what people are paying for older, small and somewhat dilapidated homes in Vancouver, I often think about what the same amount of money would buy here in Nanaimo. When you see what $600,000 buys here as compared to Vancouver I think you will agree that there is real value in real estate here.
The new foot passenger ferry that is being proposed between Nanaimo and Vancouver could potentially make Nanaimo a bedroom community to Vancouver. If that happens it won't take long for Vancouverites to see the sense in investing in cheaper real estate over here.
2. Baby boomers are retiring. As you are probably aware, Baby Boomers, make up the largest segment of the population and they are thinking about retiring. I get weekly emails from people from all parts of Canada inquiring about relocating to Nanaimo for their retirement.
3. With immigration programmers such as the PNP programme attracting well-heeled immigrants, it's just a matter of time until we see some upward pressure on the market.
I am very excited to watch the Nanaimo real estate market grow over the next few years.
If you would like additional information on the market, please give me a call.