What have you heard about the process of moving to Vancouver Island that has you apprehensive about what the process is like, and is it worth it? I’ll be busting the top 5 myths about moving to Vancouver Island.
Starting with…
You Need to be Here to Buy
I want to start off by saying that in an ideal situation, being present on Vancouver Island for your home search is highly recommended. A home purchase is likely the biggest you will make in your life and you want to make sure you’re as certain as possible that not only are you in the right home but also the right location. For this reason, I think making an exploratory visit if you’ve never been here is a great plan. That’s what we did, and I was glad because we were able to narrow down that we really only wanted to live in Nanaimo vs other areas. With all that in mind however, it’s entirely possible that although you aren’t physically present, a property you like can come on the market and you don’t have time to visit, especially if you’re from further away or out of province. In this case, having a realtor do a virtual showing for you is a great way to get into the home for a viewing. Should you decide to write an offer on a home you haven’t seen in person you and your realtor can decide if you need to negotiate a second viewing so that you can physically see the home. It’s possible that this strategy might make your offer less appealing but it’s important that you know the risks involved in buying a home sight unseen and you and your realtor will need to have a serious discussion about this. Whether you see the home in person or not, so much of what we do these days can be done remotely such as signing contracts virtually, wire transferring of funds for deposits etc etc.
You Don’t Need a Real Estate Agent
While this might be true in theory- you don’t need to have representation when purchasing a home- that also comes with a laundry list of risks- I would argue that it’s especially important that you have a real estate agent with local knowledge and community ties that can act as your buying agent, especially if you’re from out of province. If you don’t know where to start but have someone near you that you like and trust, they can always refer you to an agent on Vancouver Island that will take care of you.
Getting set up with an agent early can be beneficial for a few reasons. You can be set up right away with a home search on the MLS which will prepare you for a possible visit and home tour. What you don’t want to do is show up in a town on Vancouver Island and see homes for sale and expect someone to just let you in to see them. Have someone who can set these appointments up beforehand as homeowners need notice to prepare their homes for viewings. While you can also go to Open Houses while here it’s always nice to have a skilled professional with you to help guide you on these viewings.
Another benefit to having a realtor on Vancouver Island when you’re buying from out of province is that they most likely already have relationships with professionals you will need during your home purchase process, such as a home inspector, and will be able to recommend their services and facilitate appointments. This can be especially beneficial when you are on a tight time frame and can expedite the process.
Having someone who works locally can work out in your favour if they have good relationships with other realtors in the area. Realtors will always act in your best interest as part of their fiduciary duties. However, when it comes time to negotiate that process can be so much smoother communication wise etc when both parties have a pre-existing relationship or have worked together in the past.
It’s Too Expensive
I’m talking housing here. We all know BC is one of the most expensive provinces to live in Canada. Even still, cities in BC are amongst some of the fastest growing populations including Nanaimo, which is the 5th and also located on Vancouver Island. While the median home price in Vancouver is $1,188,000, Nanaimo is lower at $738,250. Think this is still high? There are many other places on Vancouver Island that deliver the quality of life and the beauty you expect here for less. In Port Alberni, a small city about an hour outside of Nanaimo on the way to Tofino, homes sold a median price of $535,000 over the last 90 days. It’s considered the most affordable city on Vancouver Island but has great outdoor living and many amenities. Some other areas have lower home prices, some of which I spoke about in my video “Small Towns on Vancouver Island you can move to”. My point is you can work with a realtor to find something that works within your budget, you may just not end up in larger cities like Victoria if you want a cheap single-family detached home.
You Will Be Isolated
No doubt you will have some apprehension about moving to an Island. How remote! How Isolating! Well, it’s not actually like that at all. Vancouver Island is about 460 km’s long and has plenty to offer in and of itself. Many Islanders don’t have the need to leave the island often as you can find almost anything you need right here.
If, however, you do need to take a trip to the mainland you have many options for travel. You heard about my personal experience using BC ferries to commute to work in West Vancouver for an entire year and BC ferries terminals can be found all over the west coast of the Island.
Additionally, and you may have already heard, a new passenger ferry service called Hullo connecting downtown Nanaimo to downtown Vancouver in 70 minutes is coming in late August!
If you’re not into taking a boat you can hop on a float plane via a few different services like Harbour Air. There are also airports all over Vancouver Island, some with commercial services like Nanaimo and Comox.
However, if you choose to travel I have no doubt you won’t feel as cut off from the world as you might imagine. This place offers so much and it’s hard ever to want to leave at all!
You Won’t be Welcomed
I admit that I was weary of our reception to moving to Nanaimo. It’s common to hear people comment that the Island is overpopulated and that they don’t want any more people moving here. It’s true that the island is seeing a lot of growth… Nanaimo itself grew by 10% between 2016 and 2021. Every time I would meet new people I would hesitate to tell them we had recently relocated from the mainland but when I finally did I found that the other person was either a transplant themselves or they were happy to have us! Honestly, what you see online are usually just cranky people hiding behind their keyboards and wouldn’t say the things they do to you in person. I can only speak from my own experience but I have found people in Nanaimo to be some of the friendliest and my friend circle has grown tremendously since relocating here.
So there are my top 5 myths about moving to Vancouver Island and why it can be one of the best decisions you will make! I hope to see you soon on Vancouver Island!
