With increased Vancouver housing costs, families are finding more reasons to upsize into a new home in Nanaimo. The average cost of a single family-dwelling in Vancouver in 2019 remains well over $1 million dollars. While the average single family-dwelling in Nanaimo averaged around $600,000. With a growing population and increased amenities, Nanaimo is becoming more appealing in the eyes of young families. Many families living within Vancouver’s cramped housing have a lot to look forward to regarding a new life in Nanaimo. Today we are going to delve into three reasons to upsize into a new home in Nanaimo.
Reasons to upsize into a new home in Nanaimo: more space
With the average Nanaimo home costing roughly half of Vancouver, you can benefit from owning more square-footage for less. A larger home means your home can support your growing family. This is a great bonus because you will have one less thing to worry about if your family gets larger. Excessive moving may put strain on your children’s friendships and grades. That is why it is important to factor in home-size early on, and plan accordingly.
A larger home usually translates into more expensive utilities. However, don’t let that discourage you, as there are more cost-savings to enjoy living in Nanaimo over Vancouver. The cost of living in Nanaimo is much cheaper in the long run with regards to food, mortgage, and amenities.
Nanaimo is a growing city with lots of potential down the road. This means that it may yield a greater return on investment over a small 1-bedroom apartment in Vancouver.
Upsize into a new home to gain freedom from strata
Upsizing to a home in Nanaimo will give you a greater sense of control and autonomy over condo-living. One of the many perks of buying a larger detached home is a lack of strata. Strata fees are often more money than their worth, especially if you don’t utilize your home’s amenities. Many families may pay anywhere from $300-500+ on strata fees that they don’t take advantage of. One example of wasted strata fees are if you have a gym membership and don’t use your home’s provided gym and pool. In short, this means you are paying for the maintenance of amenities you don’t use. Strata also means you can’t plant or remove certain shrubs and trees around your townhome, or make major changes to the physical appearance of your home. They may even place rental-restrictions on homeowners.
When you own your own home outright, you can enjoy making any renovations you see fit. The only fees you will pay are property taxes, which don’t prohibit you from renting out later on.
In summary, upsizing to a home in Nanaimo offers numerous perks over living in a busy city. You can enjoy more space, while still saving money in the long-run due to Nanaimo’s lower cost of living. The ability to own land in Nanaimo at a fraction of the cost in Vancouver makes Nanaimo a promising investment. Lastly, owning a strata-free-home will give you and your family the freedom necessary to renovate your home as you like. We wish you and your family a safe and happy move!
If you need help moving – Real Pro team is just a call away!