Nanaimo is a ferry port and city located in the eastern area of the coast of Vancouver Island in Canada, British Columbia. At the heart of the city, Nanaimo Museum exhibits the displays of indigenous people and the city’s industries. There are lots of cafes and shops in the city. So, you do not have to travel much to do your groceries.
Nanaimo has been considered one of the best places to live on international and national lists. Over the past 4 years, this city has experienced strong growth of 8 percent. This percentage is more than the national average growth of almost 5 percent and even the growth in British Columbia of 5.3 percent.
This strong growth of the city is because of a number of factors in which the affordable real estate market is the most important one. So, if you have any plans of moving to Canada then Nanaimo must be on your priority list.
Affordable houses to live in Nanaimo
Nanaimo has a number of affordable housing properties. Nanaimo is the cheapest place to live on Vancouver Island. The real estate market of the city has experienced a drop in real estate prices. A further decrease in real estate properties in Canada is expected in the coming years.
There are a number of construction styles in Nanaimo which are available for sale at reasonable rates. Three of them are the most affordable ones. These are condominiums, townhomes, and single-family attached or detached homes. There is a brief description of these construction styles for you in this article.
A condominium, which is also known as a condo, is a residential structure that is divided into multiple units that are owned separately. These are surrounded by some common areas that are owned jointly.
Single family homes are constructed usually for single families that can be attached, detached, or semi-detached based on their attachment to the adjacent residential buildings.
The last construction styles are the townhouses. These are the types of terraced housing systems where you can find many townhomes constructed in the different lanes of Nanaimo.
Townhouse in Range in $100K to $300K and Real Estate Market Condition of Nanaimo
The most demanding houses in Nanaimo are townhouses. These are single-family residential buildings that are mainly responsible for the aesthetic beauty of the city. The amazing thing is that you can buy a well-constructed house in Nanaimo within the range of $100K to $300K. Here are some examples.
A two-bedroom and two-bathroom townhouse are available for sale at 6025 Jake’s Place, Pleasant Valley, Nanaimo. This is a 1003 square feet townhouse. You can buy this house for $ 255,000 only.
Likewise, another two-bedroom and two-bathroom townhouse are available for sale at 264 McVickers St 105, Parksville, Nanaimo, British Columbia. This 882 square feet townhouse is available for sale at $ 240,000.
The Benchmark price of the city has increased by 38%. The single-family benchmark prices reached $722,499 in March, up by almost 28 percent from last year. But still, the most affordable ones are townhouses.
