Cowichan Valley Starter Homes and Condos
Cowichan Valley starter homes are featured in this price range. These properties will appeal first time buyers, retirees, families with children and pets. The home styles include condos, patio homes, and single family homes within easy commuting distance of Victoria and Nanaimo. If you work in the Cowichan Valley, you may want to consider the recreation capital, Lake Cowichan, and enjoy wilderness and lake lifestyles. Communities like Ladysmith and Lake Cowichan (and all areas in between) offer strong value for money.
There are a number of benefits when choosing a starter home instead of a larger property as your first place. For example, a small home will appreciate more quickly because prices are based largely on land values. Most small or tiny homes in the Cowichan valley will benefit from an update, like an IKEA kitchen, or changes to the curb appeal with some landscaping. Here are some small homes on Pinterest that have been dressed up.
Cowichan Valley starter homes also allow you to build equity. Approximately 50% of your mortgage payment goes to paying down the principal. That means each month, about half of your payment is going directly into your pocket as equity, like a form of forced savings. Your mortgage payment will range from $950 to $1,450 per month without strata fees or taxes included. For homes on this page, your equity will grow approximately $5,400 to $8,700 per year not including property appreciation. Appreciation is the natural tendancy for real estate prices to rise over time. The average appriciation on Vancouver Island is about 2-4% per year which means you may realize an additional $5,000 to $10,000 per year. That’s a pretty good incentive to stop renting!
Cowichan Valley starter homes are a great investment and always in high demand. If you are considering a home purchase in the Cowichan Valley, please contact us for more information and the latest listings by email.
Contact Constantin or Mariana using the forms on the details pages. Visit our Vancouver Island commercial real estate website for investment properties