This Spot Was Just Ranked As The Best Place To Buy Real Estate In BC & It's Stunning (PHOTOS)
An investment with a view! 🏠
Tofino, B.C. Right: Beach on Vancouver Island.
B.C. isn't exactly known for its cheap real estate, but a new ranking shows home buyers in the province where to invest.
Vancouver Island was ranked as one of the best regions in B.C. to buy real estate in, in 2023. Not only is the island serving up some of the best real estate opportunities apparently, but it's also a beautiful place to call home.
Filled with hidden gems and natural wonders, Vancouver Island might just make the cost of living in B.C. a little more worth it.
Zoocasa partnered with MoneySense to release the ranking, which looked at the value, prices, growth and livability of places in Canada.
"Zoocasa ranked neighbourhoods and municipalities from coast to coast using proprietary methodology that takes into account average home prices, price growth over time, as well as neighbourhood characteristics and economics," the Zoocasa website said.
While the Greater Moncton area, Sault Ste Marie, and North Bay took the cake for the best value for home buyers, British Columbians shouldn't be completely discouraged.
Vancouver Island came in at 14th place on the ranking, making it the top place in B.C. to buy a home.
While 13 other places in Canada came ahead of it, Vancouver Island does offer something special in terms of scenery.
The old-growth forests, beaches, stunning small towns, and breathtaking hikes make it tempting to move here.
If you do opt for buying a home on Vancouver Island, you might want to avoid Victoria — which placed 33rd on the ranking of 45 spots.
While the benchmark home price in Victoria was $931,650 in 2022, the price for Vancouver Island as a whole was only $728,417.
In other words, it might be time to embrace small-town living.
Or settle for the Greater Moncton, N.B., area — be warned though, it might not live up to the Vancouver Island beauty.