Blog > Vancouver Island Is More Connected Than Ever

Vancouver Island Is More Connected Than Ever

by Denise Hodgins*PREC

How is September Treating You?

After spending time with visiting family in August, I dove into a busy September. Early in the month I headed to Vancouver for eXp Realty's first-ever Canadian conference, EXPCON Canada 2023. It was a very special experience because I helped launch a new community of elite realtors in Canada called eXpConnect!.

With sunny skies and calm waters greeting us, we sailed out for an afternoon of networking and professional development on the Salish Sea. Not only did we level up our real estate nowledge, but we also raised over $900 to donate to Easter Seals, Canada's largest provide of programs, services, and issues-leadership for the disability community.

All photo credit Maxine Bulloch

We were also thrilled that Glenn Sanford, the founder of eXp Realty, joined us onboard! As the mastermind behind North America's largest residential real estate brokerage, it was an honour that he made time to support our community.

It was such a wonderful experience to connect with top agents from communities across Canada including Kelowna, Edmonton, Saskatoon, Toronto, Ottawa, Montreal, Halifax and many more.

What this means for you is that I'm plugged into an expert network stretching across the country. And because my network is your network, you also have direct access to real estate expertise nationwide.

Don't hesitate to get in touch if you're looking to buy or sell in BC or other provinces. I'd be happy to connect you with a trusted real estate advisor in your area.

Clarified Rules for CRA's New Home Renovation Tax Credit

Beginning on January 1, 2023, Canada Rvenue Ageny's Multigenerational Home Renovation Tax Credit (MHRTC) came into effect. The MHRT provides a one-time 15% tax credit for renovation costs up to $50,000 for a secondary unit that enables a qualifying individual (a senior or an adult who is eligible for the disability tax credit) to live with a qualifying relation.

The qualifying relation can be a parent, grandparent, child, grandchild, brother, sister, uncle, neie or nephew of the qualifying individual or the qualifying individual's cohabiting spouse or common-law partner.

Recently, the CRA clarified that the construction of the second unit can occur at the same time as the construction of the main dwelling. So whether you're currently building a new home or living in an existing home, see if the MHRTC might support your famil's needs!

Say Hullo To Fast Travels To And From The Mainland

The long-awaited fast ferry, Hullo, is finally here! It now takes only 70 minutes to travel from downtown Nanaimo to downtown Vancouver as a foot passenger. With early morning and nighttime sailings, this new service opens the door to adventure-packed day trips!

The Hullo fleet has two vessels: sthuqi' (sta - key) meaning Sockeye salmon, and spuhéls (spah - els) meaning wind. These names come from the hul'q'umi'num' language and were gifted by the Snuneymuxw First Nation.

hullo ferry

On a recent trip I found the interior of the ship to be bright and clean. The chairs were comfortable and there were convenient USB charging stations throughout. The crew was also friendly and helpful through the whole boarding and disembarking process.

Traveling from downtown Vancouver also means you're treated to gogeous views of the downtown skyline, Stanley Park, and the Lions Grante Bridge! What do you think? Do you plan to give Hullo a try?

Real Estate Market Cools Down In August

August is typically a quieter month for buying and selling homes as people enjoy the last rays of sunshine before school restarts.

The number of real estate transactions on Vancouver Island dipped 21% from July to August 2023, but activity was still 7% higher than in August 2022.

Nonetheless, the benchmark price of a single-family home still increased slightly to $770,500 thanks to the island's low supply and high demand.

Learn From The Experts

Being a part of my community has its perks! Each month, get access to an exclusive Ready to Move virtual talk where non-biased experts give tips, hacks and advice on preparing to buy or sell a home.

Keep an eye out for the monthly invitations. But no worries if you miss them, you can always email me and I'll send you the recordings.

Strategies To Deal With High Interest Rates

Feeling stressed about interest rate hikes? Toma Sojonky, Mortgage Advisor with Paragon Mortgage, answers hot questions like "Which is better? Fixed or variable rates?" and "When does it make sense to break a mortgage?"

How Decluttering Can Help You Sell Your Home Or Stay Put

Social media sensation Abigail Rose Instagram@downsizeupgrade unveils strategies to not only declutter your physical space but also declutter your mind, empowering you to make confident decisions about your living situation.

To Request The Recordings email denise@bcislandhomes.ca