Meeting Victoria’s Housing Needs With Style And Comfort
New townhomes are the wave of the future for people living in Victoria, BC, and these multi-family homes provide the perfect solution to help meet Victoria’s demanding and competitive housing market.
To help understand why they work so well, let’s take a look at some unique features of townhome living:
- According to the Canadian Home Builders’ Association, townhomes share at least one common wall with a neighbouring property.
- They can be freehold, where the homeowner owns the land and townhouse and is solely responsible for their property. They can also be condominiums, where the homeowner owns a unit and shared spaces, and maintenance responsibilities are shared among all homeowners in the development.
- Traditional condominiums typically contain a single unit within a large complex.
- Multi-levelled townhouses differ from traditional condominiums in design and the overall approach to indoor and outdoor maintenance within the complex.
The architectural freedom that modern new-build townhomes are being given also allows them to stand out from conventional mundane row housing of the past, where each home looks identical.
LIDA Construction’s award-winning team is currently hard at work building The Nest, a stylish new construction townhome development. If you’re thinking about investing in townhome living, take a minute to scroll through our gallery.
The Appeal of New Townhomes
What makes townhomes such hot-ticket real estate? Read on to discover the top five advantages of townhome living.
1. Increased Purchasing Power
Although British Columbia is one of the most desirable places in the world to live, finding an affordable option to call your own has become a challenge. The BC housing crisis is top of mind for anyone struggling to enter the housing market.
As of August 2024, Re/Max projects entry-level prices of $750K —$1.1M to purchase a home in Victoria. This leaves many first-time home buyers out of the market. With townhome prices starting at under $745K, families previously priced out of the competitive market may have a more affordable entry point.
2. Maintenance That Won’t Make You Sweat
Many townhome communities are managed by strata corporations that require maintenance fees. In exchange, the condominium corporation offers services such as maintaining the landscaped grounds, completing repairs to shared areas, and shovelling the snow. Some stratas provide additional benefits such as pest control, HVAC monitoring, and garbage and recycling collection.
Belonging to a strata corporation can save you the cost of big-ticket exterior maintenance and repairs, such as balcony replacement, updating siding, roof replacement, and window and door upgrades, which are all paid from the collective pot.
Before building or purchasing a new townhome, investigate whether the development is strata-managed or freehold.
3. Amenities You Might Not Expect
With a wealth of amenities within easy reach, new construction townhomes are designed to simplify busy lives. Eliminate the long commute to the gym before your work day, walk your dog on landscaped trails straight from your door, or hold a party at the shared townhome community centre. The amenities in new townhome developments can help you achieve the convenient, carefree lifestyle you’ve been craving. Be sure to check which amenities are included before purchasing.
Here are just a few that might be available:
- Fitness centres
- Swimming pools
- Playgrounds
- Tennis courts
- Pet areas
- Community gardens
If you’re looking for thoughtfully designed modern living with interior elegance wrapped in exterior charm, look no further than Murray’s Pond. This new development features 13 townhouses beside a peaceful pond and trail in Victoria, BC. Enjoy nature and convenience with stylish interiors, including waterproof laminate flooring, in-floor heating, and quartz countertops.
4. Communities That Care
According to the International Journal of Environmental Research and Public Health, meaningful participation, connection, and a strong sense of belonging all contribute to improved mental health. Engaging in your local community is a free and simple way to reap these benefits.
Living closer to your neighbours and sharing communal spaces provides ample opportunity to develop relationships. These friendships expand your support network in times of need and create tight-knit communities. Other benefits of living in a caring community include:
- Reduced stress from isolation – regular face-to-face interaction with people can lower blood pressure, decrease obesity, and reduce cholesterol levels
- Improved physical health – strong communities promote healthier lifestyles and often have amenities that encourage exercise
- Personal development – community networks are known to improve mental health and increase emotional stability
Best of all, the increased well-being that comes from a sense of community is free. Volunteer, join a social club, and have a coffee with your neighbour. These small connections add up to significant health gains.
5. Secure And Safe Neighbourhoods
More watchful eyes can equal more security. There’s no question that thieves will think twice before breaking into a place with attached neighbours. If you need further convincing, here are a few additional factors that may increase the safety of townhomes versus a single-family home.
- Increased community security features, such as gated entrances, patrols, and surveillance cameras
- Common areas may be better lit
- The nature of townhome construction leaves fewer nooks and crannies to hide in
One of the goals of the Government of British Columbia’s Small-Scale, Multi-Unit Housing initiative is to promote well-designed townhomes that encourage safe communities. For a deeper dive into The Future of Living: Multi-Family Homes in Victoria, BC, check out our recent blog
LIDA Construction—Pioneering the Future of New Build Townhomes
Whether you’re an investor or looking to build a new townhome in one of the most desirable cities in the world, you’re in the right place! LIDA Construction’s masterfully designed townhomes don’t skimp on style, and you’ll find the same high-end luxury finishings in our multi-family designs as in our showcase custom detached homes.
Whatever your townhome needs, LIDA’s contractors will get the job done right. We take pride in the craftmanship that has gone into the 350 completed projects under our belt, and we are even more proud of the relationships we’ve created collaborating with happy homeowners along the way.
One of our experts will be happy to speak with you today to turn the future luxury townhome you’ve been dreaming of into reality. Contact LIDA, British Columbia’s leader in construction excellence, to have all your building questions answered, large or small.
