If you’re exploring the Vancouver Island real estate market from Qualicum Beach to Victoria you’ll find that your budget can stretch quite differently depending on the community, property type, and proximity to amenities. Here’s an up-to-date look at what you can expect to buy for your money, based on current MLS data.
Around $600,000 – Coastal Charm or Rural Retreat
In the $600K range, buyers often choose between location and lifestyle. In smaller coastal communities like Ladysmith, Crofton, or Chemainus, this budget might secure a well-maintained older home or a modest newer build within walking distance to the ocean or downtown amenities.
Looking inland toward areas like Cassidy, Cobble Hill, or Yellow Point, that same $600K could stretch further, possibly securing a newer home on a larger lot or a small acreage surrounded by nature.
While older homes in this range can offer charm and established neighborhoods, they may require ongoing maintenance or energy upgrades. Newer builds, on the other hand, typically mean lower utility costs and fewer surprises, but often at the expense of square footage or proximity to the water.
Around $800,000 – More Space and Modern Comforts
With an $800K budget, buyers can begin exploring more spacious and modern homes. In places like Duncan, Mill Bay, or South Nanaimo, this price point may include a newer three- to four-bedroom home with a suite, ideal for multi-generational living or rental income. You’ll likely see more open-concept designs, high-efficiency systems, and upgraded finishes.
In more rural or inland areas, $800K can go even further. Think larger acreage, detached workshops, or custom-built homes with mountain views. However, you might trade the quick access to shops and schools that coastal or urban communities provide.
Around $1 Million – Lifestyle and Location
Crossing the $1M threshold opens the door to some of Vancouver Island’s most desirable locations. In Qualicum Beach, Parksville, or North Nanaimo, expect well-maintained executive homes, oceanview properties, or modern buildings near top-rated schools and amenities. Closer to Victoria, that same budget might secure a well-updated older home in a sought-after neighborhood rather than a brand-new build.
Buyers at this level are often choosing between size and location, as well as luxury inland vs. lifestyle by the sea. It’s about deciding what matters most: the view, the square footage, or the walkability.
Old vs. New: Weighing the Trade-Offs
Older homes often come with character details and larger lots that newer developments can’t match. But they can also bring higher maintenance costs, especially for roofs, plumbing, or insulation. Newer homes, while sometimes built on smaller lots, offer energy efficiency, warranties, and modern layouts that appeal to today’s buyers.
The best value depends on your goals. Whether it’s long-term investment, family comfort, or lifestyle.
Finding Your Perfect Fit
No matter your budget, Vancouver Island offers incredible variety and opportunity. From oceanfront cottages to forested acreages and vibrant urban neighborhoods, there’s something for every lifestyle and stage of life.
If you’d like to explore what your money can buy in today’s market, or compare homes across different Island communities, I’d be happy to provide a detailed, personalized market analysis to help you make the most informed decision possible.
