Summer is one of the most active seasons in real estate, with warm weather and longer days making it the perfect time to search for a new home. However, the summer market can also be competitive, with eager buyers vying for the best properties. To make the most of your summer home shopping experience, it’s important to stay prepared, focused, and ready to act when you find the perfect place.

Here are three tips to help you navigate the summer real estate market with confidence:

1. Start with Pre-Approval

Before heading out to view homes, get pre-approved for a mortgage.

• A pre-approval gives you a clear idea of your budget and shows sellers you’re a serious buyer.

• It helps streamline the process so you can act quickly when you find the right home.

• In a competitive market, pre-approval can give you an edge over other buyers.

2. Plan Ahead for Viewings

Summer schedules fill up quickly, so be strategic about planning showings.

• Schedule tours early in the morning or later in the evening to avoid the midday heat.

• Bring a list of must-haves and nice-to-haves to stay focused during your search.

• Don’t forget to bring water, sunscreen, and a hat—house hunting can be an all-day event!

3. Be Prepared to Act Fast

The summer market moves quickly, so be ready to make decisions.

• Work with a real estate professional who knows the market and can guide you through offers.

• Be flexible and responsive when scheduling inspections or submitting paperwork.

• Trust your instincts—if a home feels right, don’t hesitate to make an offer.

With the right preparation and mindset, you’ll find the perfect home this summer. Ready to start your search? Let’s work together to make it happen!

The Canadian government has extended the foreign buyer ban on residential properties until January 1, 2027.

This extension, announced in February 2024, aims to address housing affordability concerns and make homes more accessible to Canadian citizens and permanent residents.

As a realtor in the Cowichan Valley, it's crucial to understand how this ban affects our local real estate market and what it means for potential buyers and sellers.

Understanding the Ban

The Prohibition on the Purchase of Residential Property by Non-Canadians Act prohibits non-Canadians from purchasing residential properties in Canada's major population centers.

This includes single-family homes, condominiums, and other types of housing intended for personal occupancy.

The ban applies to Census Metropolitan Areas (CMAs) and Census Agglomerations (CAs), which includes much of the Cowichan Valley.

Impact on the Cowichan Valley Real Estate Market

While the foreign buyer ban has garnered significant attention, its actual effect on housing affordability in the Cowichan Valley remains debatable.

Recent data from BC Assessment shows that property values in the region have remained relatively stable, with minimal changes in most areas for 2025. 

For Canadian citizens and permanent residents looking to buy in the Cowichan Valley, the extension of the ban may potentially reduce competition from foreign investors.

However, it's important to note that foreign buyers historically represented a small percentage of overall transactions in many areas. 

Sellers should be aware that while the ban might limit the pool of potential buyers, the Cowichan Valley continues to attract domestic buyers drawn to its natural beauty, quality of life, and relative affordability compared to larger urban centers.

Exceptions and Compliance

It's crucial for both buyers and real estate professionals to understand the exceptions to the ban. These include:

 Temporary residents with valid work permits

International students meeting specific criteria

Refugee claimants

As a realtor, ensuring compliance with the ban is essential.

A non-Canadian purchasing residential property could result in fines of up to $10,000.

Looking Ahead

While the foreign buyer ban aims to address housing affordability, experts suggest that increasing housing supply remains crucial for long-term affordability.

The Cowichan Valley continues to see development in areas like Berkey's Corner, Maple Bay, and South End Duncan, offering opportunities for both buyers and investors.

As your local real estate expert, I'm here to help you navigate these changes and find the best opportunities in our evolving market.

Whether you're looking to buy, sell, or invest in the Cowichan Valley, staying informed about market trends and regulations is key to making sound real estate decisions.