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Are you looking for an affordable recreation property, here is one to consider, RV site 21, located only a few hundred feet from St. Mary's Lake. This site is presently r...
Courtesy of RE/MAX Salt Spring
Introducing LOT 20 in Phase 3 of Southpoint! This special piece of land is part of a new neighborhood called Southpoint, on Skirt Mountain next to Bear Mountain in Langfo...
Courtesy of eXp Realty
West Coast Jordan River Acreage! Your opportunity to own 2.5 acres in Creekside Glen the new phase of Wildwood Terrace community. Lot 7 is ideally located adjacent to c...
Courtesy of RE/MAX Camosun
Here is an opportunity that doesn’t present itself very often! A gorgeous flat lot on a quiet street in a family friendly neighbourhood only steps away from the popular ...
Courtesy of RE/MAX Camosun
Lot 27, measuring 48 x 180 feet, is located in the serene neighbourhood of South Oak Bay and is being offered for sale alongside the residence at 1174 Monterey Avenue. Th...
Courtesy of The Agency
PRICED TO PLEASE! Last 2 Strata Lots available for sale! West Coast Road Estates - A Bare Land Strata Development located on Southern Vancouver Island-offers a great oppo...
Courtesy of RE/MAX Camosun
PRICED TO PLEASE! 2 Strata Lots Left to Purchase! West Coast Road Estates- Bare Land Strata development which originally offered 13 strata lots for sale, ranging in size ...
Courtesy of RE/MAX Camosun
Welcome to lot 10 of 2600 Nickson Way in Beautiful Sun River! This .15 acre fee simple lot provides the opportunity to be a part of the next phase of Sun River Estates. O...
Courtesy of Coldwell Banker Oceanside Real Estate
This 14.43 natural and forested acres offers brilliant exposure, utter quiet and absolute privacy, without a neighbour in site; now and forever. With gentle and varied to...
Courtesy of Macdonald Realty Salt Spring Island
Take advantage of some of the lowest prices of Southern Vancouver Island! Over $24k UNDER Assessed value! This LARGE FLAT .26 acre level lot is ready for your next build...
Courtesy of Coldwell Banker Oceanside Real Estate
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Land and Building Lots are in very short supply in Victoria in part due to the regioins environmental and geographical constraints, being surrounded by water towards the East, difficult to develop topography in mountenous regionis towards the West, and agricultural land in in the North. One of the biggest reasons for low land inventory in Victoria, however, is the persistent NIMBY opposition pathology at the local government level prompting local councils to finds ways to thwart development efforts at the behest of it's constituents, whenever a piece of developable land becomes available, who scream for every piece of vacant land to be turned into another park for their enjoyment at the expense of everyone else. Agricultural Land ALR policies of the provincial government are another reason for the shortage. A massive amount of developable land has been taken out of the development pool by this institution on the false pretext of preserving farmland, when in fact only about 50% of the ALR inventory has any kind of agricultrual potential. It's a sad situation creating homelessness and poverty by contributing to rising housing costs.
Nevertheless, owning land in Victoria, BC, can offer several benefits. Here are some key advantages: Appreciation: Real estate in Victoria has historically shown strong appreciation over time. As the demand for properties in this desirable location continues to grow, the value of your land may increase, potentially providing a significant return on investment. Stability: Land ownership provides stability and security. Unlike renting or leasing, owning land gives you control over your property, allowing you to make long-term plans and decisions without the uncertainty of changing rental prices or the possibility of eviction.
Development Opportunities: Owning land in Victoria gives you the potential to develop the property according to your preferences. Whether you're interested in building your dream home, developing a commercial space, or investing in rental properties, land ownership offers flexibility for your future plans. Rental Income: If you choose to develop your land for rental purposes, owning property in Victoria can provide a steady stream of rental income. The city's high demand for housing and tourism industry can create lucrative opportunities for landlords, especially in popular neighborhoods or near attractions.
Tax Benefits: Land ownership often comes with tax advantages. In Canada, you can deduct property taxes and mortgage interest payments from your taxable income. Additionally, if you decide to sell your land in the future, capital gains tax may be partially or completely exempt if the property is considered your principal residence. Lifestyle and Location: Victoria is renowned for its quality of life, beautiful scenery, and vibrant culture. By owning land in this area, you have the opportunity to enjoy the benefits of the city's amenities, including parks, beaches, recreational activities, dining options, and a mild climate.
Estate Planning: Land ownership can be an essential component of estate planning. It allows you to pass on your property to future generations, providing a valuable asset and potentially securing their financial future. Remember that owning land also comes with responsibilities, such as property maintenance, taxes, and potential risks associated with the real estate market. It's advisable to consult with a real estate professional, financial advisor, or lawyer to evaluate your specific situation and ensure land ownership aligns with your goals and financial capabilities.