Happy New Year - 2023 and Welcome to Some Federal Tax Changes for Homeowners

Thinking of buying or selling real estate in 2023?  There has been a few new Federal tax changes to know about as well as the new residential property rule for individuals who purchase a residential property and sell it withing 12 months of their purchase (not many do but always good to know the changes)... may be subject to the 'Residential Anti-Flipping Rule'.  Under the new rules, any profit from the sale of residential real estate (inluding rental property) would be taxed as business income and ineligible for ether the 50 percent capital gains rate or the principal residence exemption.  There are some exemptions... a household addition such as birth, adoption or care of an elderly parent also if there is a marriage or common-law partnership breakdown, threat to personal safety, change in employment, insolvency or involuntary disposition, such as from a natural or human-caused disaster.

As of January 1, 2023 the Prohibition on the Purchase of Residential Property by Non-Canadians Act (Foreign Buyers Ban) is in force.   

• Does not apply to Canadian citizens or permanent residents.
• Applies to Non-Canadians directly or indirectly purchasing residential property in Canada for a period of two years.
• Applies to residential property, including detached houses or similar buildings of one to three dwelling units, as well as parts of buildings such as semi-detached houses, condominium units, or other similar premises.
• Applies to direct or indirect purchases of residential property, including purchases made through corporations, trusts or other legal entities.
• Establishes penalties for non-compliance applicable to Non-Canadians, as well as any person or entity knowingly assisting a Non-Canadian in violating the prohibition.  Click here for more detail.

I hope this helps a little for now and best to discuss with your accountant and/or lawyer.  If you would like any help listing or on the buying side please call Brenda direct 250.744.4556  Wishing all a healthy New Year and a warm personal thank you to Kate Campbell for drawing the ad above... Cheers to all!

Oak Bay Royal LePage Top Producer - October 2022

Thirty two years licensed.  Raised in Oak Bay.  Happy to help 250.744.4556 direct line. ~ brenda

Brenda Russell is proud to present a new listing this House for sale, 2009 Runnymede Avenue, Fairfield East, Victoria, BC

Short Video of 2009 Runnymede Avenue by beSea

Set beautifully back at a pleasing elevation, and built on solid rock, this residence intrigues the eye with a wall of windows and surrounding lush landscape. Owner designed and built in 1954, by a renowned Victoria architect for his family. Lovingly maintained to present day by family, this home truly is a treasure bespoke of mid-century modern design and sensibility. The entry hall draws one into a large, light-filled floor area all on one level. Homes of this vintage and type usually have floor area divided on two floors. The comfortable living room features a mahogany wall and wood burning fireplace. The adjoining dining room boasts built-ins and a huge picture window with garden view. A retro, eat-in kitchen has GSW cabinets, washer/dryer, deep laundry tub and lots of room for your imagination. Dividing the two bedroom wings is a soaring glass atrium ideal for the plant enthusiast and bathing adjoining rooms in natural light. Three bedrooms and a spacious 4 piece bath conjoin the atrium and a separate guest suite perfect for live-in nanny, in-law or could be Master suite, consists of a queen size bedroom, 4 piece bath and family room. Other features include; oak flooring throughout, cork flooring in the guest wing, tile in atrium, concrete reinforced double garage with a separate furnace/storage room. One is awe-struck by the beauty of the well-established garden intentionally designed as a blissful haven beckoning one to linger in peace. A harmonious array of plants including rhododendrons, azaleas, camellias, magnolia and corylopsis shrubs, roses trained along the front fence, kiwi, fig and other unique trees provide a perfect oasis of serenity. Plenty of options to fill your dreams in this versatile, bright, quiet sanctuary located in a prestige area of Fairfield East (Gonzales Bay) bordering South Oak Bay. Close to Victoria’s finest private and public schools, parks, beaches and Victoria Golf Club. *Offers are being considered Tuesday April 12th at 1pm*

Brenda Russell is proud to present a new listing this House for sale, 1429 Mitchell Street, South Oak Bay, Victoria, BC

A romantic covered veranda welcomes you to pure Oak Bay charm. An upgraded 1911 Character home in South Oak Bay. Whether you call it Arts and Crafts, Craftsman or Character this style of architecture is virtually a signature piece for anywhere along the West Coast but especially here in Victoria. Combine that with the convenience of being within walking distance of anything needed including the 'Village' and you have yourself a great home... all yours! Completing the main floor; 3 bedrooms, dining/living area, wainscotting (1911 fireplace not used), updated bathroom, remodelled kitchen with quartz countertops, shaker cabinets with plenty of storage and a suite of stainless appl. Refinished oak floors, 9 ft ceilings, vinyl windows with bottom up/top down blinds throughout. Lower level opens to a workshop area, laundry + abundance of storage. 200 Amp. Exterior upgrades include hardie plank siding (recently painted), replaced fence panels, deck with a sunbrella connected and a brick patio area South exposure!

Brenda Russell is proud to present a new listing this House for sale, 2551 Prior Street, Hillside, Victoria, BC

COUNTRY COTTAGE IN THE CITY This spacious two bedroom home preserves it’s original character and pleasingly combines a blend of contemporary elements and updates, ideal for the professional couple or small family. A welcoming, well appointed, eat-in kitchen opens to a vaulted ceiling family room with large windows and skylights which flood the interior with natural light, lending and airy ambiance on the dreariest of days. Enjoy easy access to laundry area and updated bathroom from the kitchen. Vinyl windows, lighting, laminate floors throughout, stainless steel appliances, attic insulation, smoke detectors, front door, and interior paint are just a few of the many upgrades. The fully fenced private garden is a popular gathering spot and invites alfresco dining and mum can watch the children play in the yard from the kitchen or family room. Located in popular, family friendly Hillside close to bus routes, schools and all major amenities. From the moment you enter the the enclosed porch, you are sure to be delighted with this charming cottage in the city. (a great townhome alternative without being attached to a strata)

Brenda Russell is proud to present a new listing this two bedroom condo for sale, 402 1175 Newport Avenue, Oak Bay, Victoria, BC

402 - 1175 Newport Ave - Brenda Russell from beSEA Photolab on Vimeo.

Enjoy the quality of South Oak Bay lifestyle. This is a rare opportunity to transition gracefully into this spacious two bedroom, two bathroom well managed 55+ condo in this desirable complex. 'Windsor Park House' is a concrete building and immaculately maintained. Large rooms, West facing full length balcony (approx. 40 feet) with views of Windsor Park and the "Rose Garden". Many extras such as a wood-burning fireplace, quality flooring throughout, custom automatic blinds in each room and boasting its own laundry room with wash tub, built-in ironing board and lots of storage space, as well as a storage locker and two secure underground parking spots. Located one block from a beach and a short stroll to Oak Bay Marina and Avenue shopping. This home ticks all the boxes for the professional couple or retirees seeking the perfect scale-down.

Located on one the Uplands most tranquil streets, this stately Colonial home is picture-postcard pretty, and besides curb appeal possesses the enduring charm and timeless elegance bespoke of it’s enduring style. Classic symmetry affords a practical layout, traditional yet relaxed. An on-centre entry hall opens into a foyer with cross-hall living room and dining room; both feature balanced bay windows housing sunny, built-in seating adding a sense of grandeur to it’s already spacious rooms. Thoughtfully set on a serene, private garden one can imagine enjoying every aspect of family life and gatherings. Towering Oak and Firs provide a canopy for the well established, perennial garden and home to many bird species. Flagstone patio, walkways, stairs and old brick garden walls make this glorious secret garden a sunny oasis to just sit, relax and listen. Located a short stroll to public transportation, Uplands Golf Club, Royal Victoria Golf Club, private and public schools, parks, shopping and beaches. This cherished property offers a lifestyle nonpareil in Victoria’s finest neighbourhood. Living room – Accessed through French doors from main hallway the spacious living room enjoys sunshine all day from many windows and bay window with sun catching window seat with western view. A large picture window offers an unhampered view of the back of a completely private garden. The wood burning fireplace is accented with a large formal mantle. A French door leads to the garden down flagstone steps. Dining room – Cross hall from living room in true Colonial fashion is accessed through French doors and boasts an elegant space for large dinner parties, extra seating under bay window and direct access to kitchen. Kitchen – Bring your dream to reality in this eat-in kitchen with room for everything and garden access through back door. Family room – Accessible three steps from the dining room and large enough for pool table it features brick fireplace with mantle, built in bookcases, cupboards and opens to both double carport and back garden. SECOND FLOOR Master bedroom and ensuite – With paned windows facing east, west and south this spacious room is sunny and bright. A large walk-in closet with a window. Four piece ensuite with vanity adjoins. Bedrooms #2 and #3 – generous in size and feature large closets Bathroom – 4 piece Bedroom #4 – Could be a play room and has gabled windows, east and west, tons of built-in drawers and cupboards. Garden – Truly a gardeners delight both front and back. A private, serene sanctuary loaded with well-established perennials, delightful gazebo, greenhouse and tool storage. Entertainment size flagstone patio, walkway and stairs are a unique feature, as are the old brick garden walls that add to the sense of peace and privacy. Carport – double carport with access to family room. Spacious interlocking brick driveway.

Brenda Russell is proud to present a new listing this Condo for sale, 304 1400 Newport Avenue, South Oak Bay, Victoria, BC

A great location in South Oak Bay! Top floor one bedroom condo. Large vinyl windows and sliding French doors for the balcony. Currently carpeted throughout but Oak flooring are showing in other suits so it is most likely under these carpets too. A few minutes to Oak Bay Village to do all the banking and shopping. Bus routes located on Newport Avenue to UVIC and Downtown. Enjoy a walk to Oak Bay Marina, 'Scented Garden', and Windsor Park. This suite is located on the side of the building looking Oak Tree tops with a Newport Avenue glimpse. A well maintained building. Hot water heat is included in the monthly strata free. BBQ's have a designated area along with the bike storage. There is a 'garden committee' which owners take pride in... lovely and peaceful grounds... roam, stroll, rest and relax on the grounds. This suite has a parking spot and storage locker. Oak Bay Towers is a desirable building that is professional managed and cared for.

Brenda Russell is proud to present this pending home, 619 Monterey Avenue, South Oak Bay, Victoria, BC

Below is a short Vimeo Video of this Oak Bay Home

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A hidden treasure nestled on a sought after “beach block” this home is full of surprise. A mid-century gem, solid, spacious and immaculate... beautifully renovated and restored true to its roots. Featuring cove ceilings, oak floors, European-inspired casement windows creating a perfect palette for your own interpretive flare. Gather on the entertainment size deck or escape to the pergola in the well established sunny garden with raised vegetable beds. A pristine home offering a versatile floor plan provides many options for your growing family and located close to both public French immersion, private schools, parks, public transport, Victoria Golf Club and just steps to the beach. Main floor: Good size living room features cove ceilings, oak floors and showcases an elegant mantle and free standing gas fireplace. Dining room adjoins the living room and could seat eight comfortably with room to spare. Kitchen is tastefully renovated with updated cabinetry, granite countertops and backsplash, an abundance of “quiet close” drawers and doors, under-counter lighting and cork flooring. Picture window above sink that opens outward. Quality wood door leading to entertainment size sundeck. Two spacious bedrooms with ample closets both with custom closet organizers. Main floor bath is four piece with cork floors. All rooms connected by a charming main hall with more closet space and some original hardware. Ground floor: Full height and remarkable bright as light filters through generous wood sashed windows into bedrooms. 3rd bedroom is perfect student space. Lots of room to study in privacy and features walk-in barn door closet and it’s own large Travertine heated tiled shower tucked into a corner. A cozy Master retreat fits a King Size bed, lounge area, at home office and features double sided gas fireplace, large walk-in closet and French doors opening to the patio and garden. Luxurious Master bath located next to Master suite offers a free-standing soaker tub and separate “spa-like” shower with Travertine tiles. Two Calma Puccini vessel sinks, heated wood floors and a towel warmer. Good size laundry area has laundry tub, room for a freezer, lots of extra storage and access to garden. The Mechanical room stores the HAV, hot water tank and central vac/equipment. Other features: Hot water radiant heat registers, Custom window blinds throughout, Storage room under deck, bike storage, 6 Foot fencing with concrete foundations.

If you are looking for a home in Oak Bay and would like some help...just call Brenda direct at 250.744.4556  She has been licensed since 1990.

Royal LePage Oak Bay Top Producer - April 2021

Raised in Oak Bay and lived in the Henderson, Estevan, North and South Oak Bay locations.  Are you considering a move to Victoria? In particular, the Oak Bay or Fairfield areas... please call Brenda's direct line at 250.744.4556.  Licensed since 1990.  Happy to help... 

Thinking of Selling in Oak Bay or Fairfield?

Brenda has been licensed for more than 30 years with the Victoria Real Estate Board.  She was raised in Oak Bay and knows it well.  If you are considering a move, don't hesitiate to call her with any questions you may have, direct at 250.744.4556.  FIVE star service! 

Brenda Russell is proud to present a new listing this House for sale, 638 Monterey Avenue, South Oak Bay, Victoria, BC

This solid, well maintained, 1931 character home typifies the traditional “quality of life” South Oak Bay has to offer. Maintaining refined character details the home boasts thoughtful updates, many new upgrades and offers a versatile floor plan for a growing family in it’s sundrenched rooms. A host of upgrades have been undertaken; perimeter drains, storm and sewer laterals, metal roof, vinyl windows, gas and so much more. Main floor features a quaint entry hall, inviting living room with attractive mantle, wood burning fireplace, piano windows, oak floors, vinyl windows, plantation shutters and a French door for added privacy. Two bright bedrooms each with walk-in closets, blinds, fir floors, four piece bathroom, spacious kitchen with three newer KitchenAid stainless appliances... a super gas oven/range, opens to a delightful sky-lit dining/family room with French doors to access a large west facing deck perfect for entertaining. The spacious upstairs provides an ideal retreat of comfort and cosiness in its master suite abode, complete with its own four piece bathroom and cedar-lined closet. Lower floor contains two bedrooms, generous den/family room, four piece bathroom, large laundry and storage room and is ideal for extended family with the bonus of two exterior door accesses. Enjoy outdoor living and gatherings in this private, easy care and well established garden featuring fine rockery, and a trove of lovely shrubs and trees. The fabulous extra-wide driveway is ideal for young sports enthusiasts or perhaps multiple cars; three garden beds, two garden sheds, one is newly built with electricity and could serve as a small studio with ample storage space. Located on a sought after “beach block”, close to both public/french immersion and private schools, parks, public transport, popular cafe’s, garden centre, Victoria Golf Club and of course the ocean, this turn-key offering is truly a cocoon of comfort for a professional couple or family in one of Canada’s most renowned and finest neighbourhoods. Offered at $1,275,000.