home renovation roi janice leffler real estate comox

Planning to Renovate your Comox Home?

Are you working on a home improvement project? Homeowners in Comox, Courtenay and the area do things to their homes to enjoy themselves. Others do them in preparation to put the property on the market. If this is you, you may be interested to know which renovations will give you the most bang for your buck. This applies to homes and condominiums, townhouses, apartments, and patio homes.

A kitchen renovation is the most worthwhile home improvement. It has the potential to increase the value of your property by 20%, according to a recent survey by Royal LePage. A kitchen is perceived as the gathering place and the heart of the home. The one thing that will stand out to a potential buyer is what the kitchen looked and felt like. That first impression is really important. They may not remember the size of the bedrooms or the color of the walls. They will remember the kitchen.

Highlights from the survey:

Get in touch with me if you want to learn more about adding value to your Comox home before you sell!

moving in comox valley janice leffler real estate

Moving from a Property in Comox!

Moving can be one of the most stressful parts of selling your home. Packing, planning, and budgeting make moving a serious hassle. However, there are ways to make moving less daunting. From creating a checklist to hiring a professional there are lots of ways that you can ease the stress of moving to a property in Comox. On this page, you’ll find tips and resources to ensure that your move goes as smoothly as possible. Continue reading below to learn more about how to have a stress-free moving experience!

How to Have a Stress-Free Move From Your Property in Comox?

Moving can be difficult. However, getting yourself and your family organized will take the stress out of the day. It will also allow you to focus on the fun stuff! Like the fact that you’re moving into a great new home! In order to remove some of the stress from moving, it is important to prepare wisely. Some of the steps that you should take prior to moving day are listed below:

  1. Make a moving checklist that keeps you on track – It’s best to have three lists: one for leading up to moving day, one for moving day, and one for when you move into your new home.
  2. Make a moving budget – If you are looking to save money or simply keep costs low, a moving budget is critical.
  3. Make sure everyone gets involved – Whoever is living in your home should have tasks delegated to them so that the moving process is quicker and everyone feels part of the process.
  4. If possible, use a moving service – Moving services are expensive, but if you can afford one we recommend taking this route.
  5. Use your agent to your advantage
  6. Give yourself time – Try to avoid moving into your new home on the same day that the previous owners are moving out. Wait if you can, and do some cleaning or painting prior to moving in.

Contact me today if you are interested in selling your property in Comox. I’d be happy to help you find the right buyer for your home. I look forward to working with you in the near future!

mortgages in comox courtenay

Mortgage Renewals in Comox for 2023

Given the rise in interest rates, it should be no surprise housing market activity in the Comox Valley has declined. Along with that, asking prices have come down. The Bank of Canada continues to combat inflation with rate hikes that are affecting the cost of borrowing. 

CIBC’s deputy chief economist, Benjamin Tal, describes it as necessary. It is an adjustment because of record high activity levels experienced when interest rates were extremely low.

A recent survey indicates more than 50% of Canadian mortgage borrowers are concerned about higher mortgage payments at renewal time. Another rate increase is expected at the next Bank of Canada announcement this month. Some borrowers with variable-rate mortgages have had to increase their monthly payments to cover the rising interest portion of their payment. 

Compared to the previous December, house sales were down 23% in Courtenay/Comox

The Courtenay/Comox real estate market saw a couple of interesting developments in December 2022. Compared to the previous December, house sales were down 23%. The average sale price was off by just 5%. The apartment and townhouse sale markets were slightly different. Sales were less at 45% to 50%. There was more on the market and it took them longer to sell. Of note is that the average sale price was up!

If your mortgage is coming up for renewal soon, the best move you can make is to speak with a mortgage professional. It is important to review your situation. Find out if remaining with your current lender is still the best option for you. Assess the impact rising mortgage payments will have on your budget. 

Look to a mortgage professional!

Your mortgage professional can advise you on the best mortgage strategy to implement. He or she will look at your specific needs. They may be able to show you solutions to help reduce your new monthly payment at renewal. Is cash flow an issue? Would you like to save the most in interest costs?

To avoid financial stress in 2023 now is a great time to review your financial situation and your mortgage.  In the long run, by making the right moves today you can put a plan in place. 

Despite the challenges caused by higher interest rates, homeownership remains strong!

Contact me for more information!

janice leffler comox valley real estate market update 2022

Comox Valley Real Estate Market Update – 2022

2022: The Bank of Canada works to curb inflation

Another year that began a bit slowly, as is wont to happen. Once the first couple of months passed, we were back into a busy real estate trend. June and July things began to change again. The government decided to try to curb inflation so the Bank of Canada began raising interest rates and looking at other regulations to cool the hot markets across the country. It is working!

Unprecedented price increases, growing numbers of offers, dwindling supply since 2020, have now (August) been replaced by leveling prices, properties remaining on the market longer, some price reductions, and increased numbers of active listings.

The government is still talking about other measures to come so we will see what that brings.

In the meantime, it looks like some of the changes are having the desired effect.