Listings « Get Your Own Home

By: Get Your Own Home  09-12-2011

Listings « Get Your Own Home

Photo from City website

If a big, beautiful ocean view is your cup of tea, $500k can do that for you here. For that money you can get a great ocean view from your choice of dwelling – a nice house, a condo, or a townhouse. It’s possible to get ocean views here for much less money, and to get really huge views for more money but for $500k you can definitely wake-up at home and see something pretty out your window.

Not satisfied with seeing water? How about owning waterfront? You can do that here with your $500k – a North Nanaimo waterfront lot perhaps? or maybe a lakefront home? I do not want to make it sounds like we are tripping over waterfront properties at this price but it is possible to get into the waterfront market at this price.

MLS #294898 on Cathers Lake

$500k is definitely enough to get you into a nice new house either just finished or a few years old (to avoid the GST). This price range will buy you a large family home in a popular neighbourhood with or without a legal suite.  It’s relatively easy to get quite a bit of new house for this price - as long as you are okay with being in a newer subdivision on a fairly small lot.  I am working on a post about which properties I would flip and fixing up a family home on a large lot is definitely on my list since they are in demand but tougher to find … but more about that later.

For those not into the new style of housing, there are lovely character homes in the Old City Quarter that you can get into for $500k. The shopping area along Fitzwilliam Street is the site of Nanaimo’s original economic core and many of the homes just up the hill date from the same period (1800-1900) While it’s possible to more or less in this area $500k is a healthy budget if your goal is to own a little part of Nanaimo’s heritage.

The quaint Old City Quarter

Moving just out the city that same money will buy you a small private acreage if a bit of space is more your thing. The Cedar/Yellowpoint area has a lot of nice acreages that start at this price range. Conversely, you could put down $500k and get 2 small houses within the City. For that matter, you could buy 1 waterfront condo downtown in the new Pacifica building…

MLS #294995 photo from listing

You won't get this view for $150K but still..

With so much choice finding local real estate to buy with $500,000 is a thrill for the shoppers and a nightmare for the indecisive! What would you choose?

49.164380 -123.936657

The information in this article was current at 06 Dec 2011

Other products and services from Get Your Own Home


Cheap and Cheerful Home Renos « Get Your Own Home

The transformations are amazing to watch but there are plenty of situations where this kind of work is out of the question and really all that’s needed is a little first aid. I would love to be putting a window in on this wall, changing the flooring, the trim and the wood panelling - but we are in first aid mode, so we are just painting.


City of Nanaimo « Get Your Own Home

I like to know everything I can about a property that I am selling and for my clients to know as much as possible when making the decision to purchase a home – City Hall and the RDN are fantastic resources that make getting informed a breeze. In my line of work I find myself turning to the City regularly to find information on properties that are being bought and sold.


Market Stats & Info « Get Your Own Home

CREA is made up of over 96,000 paying members (real estate brokers and agents) and part of CREA’s mission statement is “to formulate, promote and foster consistent professional standards of business practice, integrity and ethical conduct among the membership”. I gave it to him but asked that he just page me through the office with the showing confirmation, as I was making these calls on a break during a course.


Real Estate Investing « Get Your Own Home

I used RRSP’s for my downpayment - talk to your mortgage broker about what your options are if you do not have cash in the bank for a downpayment, they can get creative and think of alternatives you may not have. Okay, it doesn’t have to be a beater but driving a car that is paid off makes it an asset, adding to your net worth whereas a car loan is a liability and increases your existing debt load.


Sellers « Get Your Own Home

If you do end up listing your house, you can make special arrangements with your agent for how to deal with a buyer you find privately who doesn’t write an offer until after the house is listed – exclusions for particular buyers are quite common.