Retirement is one of life's most anticipated milestones but it may also come with a daunting to-do list of decisions that need to be made. You've probably already given much thought to location and whether you want to remain where you are or relocate, and then there's the question of where to relocate to!
In considering Victoria, BC as a place to spend your retirement, you probably already know that the climate is as close to 'Mediterranean' as it gets in Western Canada. Temperatures are rarely hotter than 30C in summer and dip to -5C an average of less than 5 nights per year. Researching and settling on a community you would like to be a part of is another major consideration.
Buying retirement homes in Victoria
Single Family Home
If you're considering purchasing a retirement residence in Victoria BC, the Realty Times website has some stats that will help you know where prices are at right now. Posted on September 1, 2011 - the average price of a single-family home in Greater Victoria in August was $652,841 and that's up from $581,117 in July. The median price increased to $547,000 while the six-month average increased to $621,960.
Condo and Town-home Average Price
The average price of condominiums in August declined to $271,500 and the average price of town-homes sold last month increased to $437,079 from $412,178 in July. The median price increased to $416,700 while the six-month average also increased to $446,135. MLS sales last month included 307 single-family homes, 128 condominiums 68 town-homes and 15 manufactured homes.
Victoria Real Estate Board President noted in the post on the Realty Times website, that the increase in market activity is positive news as it reflects ongoing stability in the real estate market.
Renting a retirement residence in Victoria
There's a strong demand for rental accommodation in Victoria BC and even though rents have gone up they're still low in comparison to other major centers across the country, says Travis Archibald, senior market analyst for the Canadian Mortgage and Housing Corporation in a comment to Trans-Canada Rentals. Regarding Victoria specifically, Archibald commented that according to recent numbers from a Spring 2011 survey, rents are up 1.2 percent from April 2010 to 2011 and the provincial average rose by 1.5 percent.
With specific attention given to senior living in Victoria, located centrally on Blanshard Street in Victoria, the Wellesley was originally designed for Independent Living but in recent years Assisted Living suites have been added, enabling residents to receive the assistance required to remain independent. Care services include assistance with daily living activities, housekeeping, laundry service, meals, transportation services and 24-hour supervision. The minimum monthly rate being $2150
Another featured property in Victoria BC is The Victorian at McKenzie. Located on beautifully landscaped grounds in sunny Victoria, you'll fall in love with the quiet elegance and serenity of The Victorian at McKenzie. Since 2002, we've served Victoria-area seniors with outstanding independent senior living. Our residents enjoy a safe, carefree and all-inclusive lifestyle in a community that feels like home. Residents appreciate the convenience of being just minutes from shopping, restaurants and excellent healthcare. If you're in the mood for adventure, you won't want to miss exploring Fort Rodd Hill and Fisgard Lighthouse, Canada's oldest Chinatown, the Historic Fairmont Empress Hotel and the Galloping Goose Nature Trail. Friendly live-in managers are waiting to greet you and conduct your personal tour. Care type categories are: Independent Living, Home Care, Residential Care Homes, Retirement Homes. The Minimum Monthly Rate: $1995
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