One of the questions I hear most often, whether I am working with someone relocating to the Island or a client rightsizing into their next chapter, is whether to buy the home that is already done or the one with good bones and room to make it your own. It is rarely a simple answer, and the right choice depends as much on your finances as it does on the house itself.

This month's Mortgage Minute is from my trusted mortgage partner, Paul Macara. Paul works with my clients to make sure the numbers behind a purchase actually support the life they are planning, and his take on this question is one of the clearest I have read. I will let him take it from here.

(Article by Paul Macara, Mortgage Agent)

Every home search eventually runs into the same question:

Do you pay more for the house that already has the dream kitchen, finished basement, and updated bathrooms? Or do you buy the one that needs some work and make it your own over time?

It can be a harder decision than it first appears.

A move-in-ready home may come with fewer surprises, but it can also mean stretching your budget closer to its limit. A home that needs renovations may offer more room to customize, but the costs, timelines, and disruption can be difficult to predict.

The Appeal of a Move-In-Ready Home

For many buyers, the appeal of a finished home is certainty.

You know more about what you're getting. You may avoid months of renovation projects, contractor meetings, and unexpected delays. There's also less pressure to start spending money immediately after closing.

That certainty can be especially valuable for busy professionals, growing families, or anyone who simply wants to unpack and enjoy their new home.

The financial side still deserves careful thought, however. A higher purchase price can mean a larger mortgage payment, higher property taxes, and less room in the budget for furniture, emergencies, travel, or future life goals.

Where Renovations Can Make Sense

A home that needs work can be an opportunity, particularly if it's in a great location or the improvements can be completed gradually.

It may allow you to enter the market at a lower price point, build equity through improvements, and create a home that truly reflects your style and needs.

Renovations work best when the costs are realistic and there is enough flexibility in the budget to handle surprises. Timelines can stretch, materials and labour can cost more than expected, and not every improvement adds dollar-for-dollar value.

Buyers also need to think carefully about how the work will be funded, whether through savings, a line of credit, refinancing later, or a mortgage option that allows for improvements.

Compare the Full Cost, Not Just the Purchase Price

Before making an offer, it's worth comparing both paths clearly: the cost of buying a more finished home versus the cost of buying a lower-priced home and completing the work needed.

That comparison should include more than the purchase price.

• Monthly payments

• Available cash after closing

• Renovation costs

• Financing options

• Future flexibility

A home that needs work can be a fantastic opportunity, but only if the numbers still leave you comfortable after closing.

The best house isn't always the one that looks perfect on day one, it's the one that fits your financial goals and lifestyle for years to come.

If you are contemplating a purchase or renovation, let's review your full financial picture and connect you with any professionals needed to make the best decision for your personal situation.

Thank you, Paul, for such a clear and practical look at a question so many of my clients wrestle with. Connect with him here: Paul Macara, Mortgage Agent (250) 857-4741 paul@macaramortgages.com macaramortgages.com

Whether you are drawn to a home that is ready on day one or one you can shape into your own over time, the right answer starts with understanding both the numbers and the neighbourhood. That is where I come in. If you are thinking about a move anywhere in Greater Victoria, the Saanich Peninsula, Sidney, or the Westshore, I would love to help you weigh your options and find the home that truly fits your next chapter. Reach out anytime for a no pressure conversation about what is possible.

Jacqueline Ross, REALTOR®
Your Van Isle Home
call/text: 250-415-5656
jac@yourvanislehome.com
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Summer arrived on Vancouver Island and so did a shift in the mood of the market. June closed with 719 total property sales across Greater Victoria, just slightly ahead of May and part of a steadier, more measured pace that has been building throughout the second quarter of 2026. If you have been watching and waiting to understand what this market is actually doing, June's numbers give us a clearer picture than we have had in some time.

The headline is this: inventory is high, buyers have choices they have not had in years, and the market is rewarding preparation on both sides of the transaction. That is good news whether you are looking to buy or thinking about what your next move looks like.

What sold in June

A total of 719 properties changed hands across the region in June, down 5.5% from June 2025 but essentially flat compared to May. Single family home sales came in at 388, down 3.5% year over year. Condominium sales continued to soften significantly, with 182 units sold, a decrease of 26.9% compared to June of last year. Townhome sales bucked that trend, coming in at 94, up 25.3% year over year. That townhome number is worth noting, particularly for anyone in the middle of a downsizing decision or looking for a low maintenance option on the Peninsula.

What inventory is doing

There were 4,054 active listings on the market at the end of June, up 0.6% from May and 7.3% higher than this time last year. That level of inventory means buyers are spending more time comparing properties and looking carefully at value before committing. It also means that sellers who present and price their homes well are the ones standing out in a market where there is real competition for attention.

Single family home prices by area

Single family benchmarks are holding relatively firm across most of the region, though there are meaningful differences depending on where you look. The benchmark for a single family home in the Victoria Core sits at $1,326,500, down 0.6% from June 2025. The Westshore single family benchmark is $1,023,400, down 1.8% year over year. The Peninsula continues to hold its ground with a benchmark of $1,282,000, up 1.3% from last year. That Peninsula resilience is something I have been watching closely, and it continues to reflect steady, genuine demand in that area.

Condo prices by area

The condo market continues to soften across most of the region. The benchmark for a condo in the Victoria Core is $549,200, down 1.9% from June 2025 and continuing a gradual decline from May's reading of $551,400. The Westshore condo benchmark sits at $503,900, down 0.5% year over year. The Peninsula condo benchmark is $629,700, up 1.7% from last year, making it the one area where condo values are still moving in a positive direction. For buyers considering a condo purchase, particularly in the Core or Westshore, there is more room to negotiate right now than there has been in several years.

Townhome prices by area

Townhome benchmarks are relatively stable. The Greater Victoria townhome benchmark sits at $782,300, down 1.5% year over year. In the Core, the benchmark is $841,200, down 0.5% from last year. The Westshore townhome benchmark is $712,900, down 1.8% year over year. The Peninsula townhome benchmark sits at $826,800, down 1.3% from last year. Despite those modest year over year decreases, townhomes are selling with more consistency than condos right now, and the volume increase of 25.3% in June tells a meaningful story about where buyer interest is concentrated.

What this means if you are buying

With more than 4,000 active listings and condo sales down nearly 27% year over year, buyers in this market have options and negotiating room that simply did not exist two or three years ago. You have time to compare, ask questions, and find something that genuinely fits your life rather than settling because inventory was thin. That said, well priced homes in the right condition are still moving. Working with someone who knows which sub-markets are active and which are sitting longer will make a real difference in how confidently you move through this process. If you are not yet connected with a mortgage professional, this is a good time to do that. I am happy to make a personal introduction to someone I trust.

What this means if you are selling

This market is not forgiving of overpricing. Buyers are comparing properties carefully, they are taking their time, and they have enough options that a home priced above its current market value will simply be passed over. The good news is that well priced, well presented homes are selling. If you are thinking about downsizing and wondering what your current home is worth in this environment, a conversation with me is a useful starting point. I can give you an honest picture of value and help you think through the timing of both sides of that move.

The balanced market in plain terms

The sales to active listings ratio for June puts our market firmly in balanced territory, meaning there is neither strong upward nor strong downward pressure on prices overall. What that number does not capture is how differently the sub-markets are behaving. Condos in the Core and Westshore are softer. Detached homes and condos on the Peninsula are holding their value better than most. Townhomes are moving with more consistency than the condo segment. Understanding which of these markets you are operating in is the most important piece of information you can have right now.

If you would like to talk through what any of this means for your specific situation, I am always happy to have that conversation. No pressure, no pitch. Just an honest look at where things stand.

Jacqueline Ross, REALTOR®
Your Van Isle Home
call/text: 250-415-5656
jac@yourvanislehome.com
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Feeling overwhelmed by clutter? Here’s a realistic spring cleaning and decluttering guide for 2026, plus downsizing tips for homeowners in Victoria, BC.

Spring cleaning hits differently when you’re no longer just cleaning. At some point, it becomes about simplifying. Creating space. Making life easier. Letting go of the things you no longer use, need, or even enjoy maintaining.

And honestly? I’m hearing this from so many people right now across Victoria, Sidney, Central Saanich, and the WestShore.

People are tired of feeling buried in stuff. Tired of managing homes that no longer fit the season of life they’re in. Tired of opening closets, garages, and spare rooms filled with things they haven’t touched in years.

Spring is often when it finally catches up with us. The light changes, the weather improves, and suddenly you start noticing everything.

The overflowing storage room. The kitchen drawers. The guest room that quietly became a holding zone. The house that maybe feels a little bigger than you actually need now. And while a deep clean helps, what many people are actually craving is a reset.

Start With Decluttering — Not Organizing

One of the biggest mistakes people make is buying bins and organizers before they’ve decided what actually deserves to stay. 

You don’t need better storage for things you no longer use. Start smaller than you think. One drawer. One shelf. One closet. You do not need to tackle the entire house in one weekend. The people who make the most progress are usually the ones who stop trying to make it perfect.

A few simple questions can help:

• Would I buy this again today?

• Have I used this in the last year?

• Is this adding value to my daily life?

• Am I keeping this out of guilt?

• Would someone else benefit from this more than I am?

And if you’re downsizing in the next few years — even casually thinking about it — this process becomes incredibly valuable. Every item you let go of now is one less thing you or your family have to manage later.

Why So Many People Are Downsizing Right Now

I’ve noticed a huge shift over the past couple of years. For many homeowners, especially downsizers and retirees, the conversation isn’t only about money. It’s about lifestyle.

People want:

• Less maintenance

• More freedom to travel

• Single-level living

• Walkability

• Lower stress

• Space that feels manageable and comfortable

• More time enjoying life instead of maintaining a property

And honestly, I get it. Victoria and Vancouver Island have so many incredible options now for people looking to simplify without sacrificing quality of life.

Some people want a condo near coffee shops and the ocean. Some want a quiet 55+ community. Some want a townhome with less yardwork. Some want to stay close to family while reducing expenses and upkeep.

There’s no one-size-fits-all answer. But what I’ve learned is this: Most successful downsizing moves start long before the home hits the market. They start with the emotional and physical process of simplifying.

The “Maybe Later” Pile Is Usually the Problem

If you’ve started decluttering before, you probably know exactly what I mean. The donation pile happens. The garbage pile happens. But then there’s the “maybe later” pile. That pile is usually where momentum disappears.

If you’re stuck, try creating only these categories:

• Keep

• Donate

• Sell

• Recycle or toss

That’s it.

The less overthinking involved, the easier the process becomes. And no — you do not need to become a minimalist. You just want your home to feel lighter.

A Few Often-Forgotten Spring Cleaning Areas

Once the clutter is reduced, cleaning becomes dramatically easier. 

Some areas people often forget:

• Baseboards and trim

• Window tracks

• Bathroom fans

• Kitchen cabinet fronts

• Under sinks

• Behind appliances

• Outdoor furniture

• Garage shelving

• Entryway closets

• Expired pantry items

A clean, simplified space genuinely affects how a home feels. Not just visually — emotionally.

Thinking About Downsizing? Start Earlier Than You Think

One thing I always tell clients: Downsizing is rarely just a real estate decision. It’s a life transition. And the people who feel the least stressed are usually the ones who begin planning earlier. Even if your move is still one, two, or three years away.

Starting now gives you time to:

• Declutter gradually

• Understand your options

• Learn neighbourhoods and housing types

• Prepare financially

• Reduce overwhelm

• Make decisions thoughtfully instead of reactively

You don’t need to rush. In fact, you probably shouldn’t.

My Downsizing Resources

Over the last few years, I’ve helped many people navigate downsizing and relocation here on Vancouver Island. And because it can feel overwhelming, I created resources to help make the process easier.

You can explore my downsizing resources here:

Smart Downsizing Guide

And if you’re starting to think about simplifying, relocating, or exploring what your next chapter could look like, I’m always happy to chat. No pressure. No hard sales. Just honest conversations and thoughtful planning.

Because sometimes spring cleaning turns into something bigger. Sometimes it becomes the first step toward creating a home — and lifestyle — that fits you better now.

Jacqueline Ross, REALTOR®
Your Van Isle Home
250-415-5656
jac@yourvanislehome.com
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The Bank of Canada just lowered its key interest rate to 2.25%, marking the second cut in a row — and for anyone thinking about buying or refinancing, this could be a golden window of opportunity. Let’s break it down.

💡 What This Means for You

The central bank’s move makes borrowing slightly cheaper, especially for variable-rate mortgages and anyone renewing soon. It’s not a massive overnight drop in payments, but it does signal a more supportive lending environment.

If you’re buying:

• Lower rates can stretch your affordability just a bit further.

• A pre-approval now locks in a lower rate if things rise again.

• Victoria’s market is still steady, so being prepared helps you act fast when the right home appears.

If you’re refinancing:

• Your variable-rate mortgage may see a small payment dip.

• Fixed-rate borrowers can explore new terms when their mortgage renews.

• It’s worth reviewing break-even numbers with a trusted broker to see if a refinance saves you money.

🌊 Why It Matters in Victoria

Our market moves differently from the rest of the country — limited supply, coastal charm, and lifestyle demand keep things balanced. A rate cut doesn’t mean “cheap housing,” but it does mean a little more breathing room and opportunity for smart, strategic buyers and sellers.

Now is a great time to:

• Review your budget and ideal monthly payment

• Get pre-approved to stay ready

• Talk strategy with your REALTOR® and mortgage advisor team

💬 Let’s Chat

Whether you’re planning to buy, sell, or refinance, I’m here to guide you with the local insight, strategy, and heart it takes to make your next move confidently. And if you need a recommendation for trusted mortgage brokers who can help make sense of your financial options, I’m happy to connect you with them. 

📞 Let’s connect today — YourVanIsleHome.com
Because finding your home (and your people) in Victoria starts with a conversation.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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If you’re craving fresh, high-quality sushi in a cozy and welcoming setting, Sushi Island on Hillside Avenue is a must-visit. Located at 1633 Hillside Ave, Unit 105, Victoria, BC, this local gem offers a delightful dining experience with a wide selection of beautifully crafted rolls and sashimi.

From the moment you step inside, the friendly staff and relaxed atmosphere make you feel right at home. The menu features an impressive variety of both traditional and creative sushi rolls, each one expertly prepared and visually stunning.

On my recent visit, the spicy salmon roll stole the show — bursting with bold flavour and just the right amount of heat 🔥. The salmon sashimi was incredibly fresh and plated with care, showcasing the quality and attention to detail that Sushi Island is known for.

What I love most about this spot is the value. The prices are very reasonable for the quality and portion sizes offered, making it a great option for both casual sushi nights and special occasions.

Whether you’re a lifelong sushi lover or new to Japanese cuisine, Sushi Island delivers a consistently enjoyable experience that keeps you coming back. It’s one of those restaurants that reminds you why dining local is always worth it.

Check out their full menu and hours at www.sushiislandvictoria.com and treat yourself to a meal that’s as satisfying as it is delicious. 🍣

Need more recommendations? Contact me today and I’ll introduce you to more great places to eat, shop, and play in Victoria and around southern Vancouver Island.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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Victoria’s real estate market is known for its year-round activity, but summer brings a unique rhythm—and a lot of opportunity for both buyers and sellers. With longer days, lush landscapes, and balanced market conditions, this season can offer some of the smoothest and most strategic timing for making a move.

☀️ Why Summer is a Smart Time to Sell

Your Home Looks Its Best
Landscaping is in full bloom, patios and decks feel like extra living space, and natural light floods every room. These details make for beautiful listing photos and strong first impressions during showings.

Buyers Are Motivated
Many buyers aim to move before the fall, especially families trying to settle in before the new school year. That sense of urgency can work in your favour.

More Eyes on Your Listing
With longer days, open houses and evening showings are easier to schedule. People are also more likely to browse online listings during the relaxed pace of summer holidays.

Balanced Market Conditions
This year, we’re seeing a healthy supply of new listings, giving buyers more choice—and sellers a real shot at finding serious, qualified buyers without the chaos of bidding wars.

🏡 Why Summer Works for Buyers Too

Inventory Is High
According to the May 2025 stats, we’ve seen the highest number of new listings since May 2008. That’s a big deal—it means more options, less pressure, and a greater chance of finding your ideal match.

Interest Rates Are Holding Steady
With rate hikes off the table (for now), buyers have a clearer picture of what they can afford—and more predictability when budgeting for the long term.

Less Competition in Some Areas
While popular family neighbourhoods may still see strong demand, other micro-markets—like downtown condos or rural properties—may have softer activity, which could create room to negotiate.

You Can Take Your Time
More daylight, fewer weather-related delays, and flexible summer schedules make it easier to book showings, walk the neighbourhood, and really feel into a home before you buy.

🛠 Pro Tip: Know Your Micro-Market

Whether you’re buying or selling, it's important to remember: Victoria isn’t one market—it’s many. Your experience in Fairfield will be different than in Langford, and a downtown condo plays by different rules than a family home in Cordova Bay.

As I’m a REALTOR® who lives and works here, I can help you understand your exact slice of the market, and build a strategy that makes sense for your goals.

🌿 Thinking of Making a Move This Summer?

I’d love to help you navigate this season with confidence and clarity. Whether you’re planning to list soon, casually exploring what’s out there, or just want to stay informed, let’s chat about what makes sense for you.

📩 Reach out anytime for a personalized summer market snapshot.

Jacqueline Ross, REALTOR® 
Coldwell Banker Oceanside
(250) 415-5656
jac@yourvanislehome.com
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