Gerry sits down with Denise Hodgins, a REALTOR® with eXp Realty who specializes in lifestyle-driven moves to Vancouver Island. Together they dig into why Nanoose Bay, Parksville and Qualicum Beach have become such a draw for Canadians heading home and Americans relocating north, and they unpack two of the biggest financial landmines buyers need to understand before they fall in love with a listing: the foreign buyer ban and the speculation and vacancy tax.
What They Discussed
Denise's background and her focus on lifestyle-driven real estate moves across Vancouver Island
Canada's foreign buyer ban, set to expire January 1, 2027, and why industry analysts don't expect lifting it to move affordability much
Why Vancouver Island keeps winning people over: pace of life, beach access, year-round golf, and a housing market that still offers relative value
The speculation and vacancy tax, which areas are currently exempt (Nanaimo, Lantzville, Parksville, Qualicum, Nanoose, French Creek, Errington, Coombs, Bowser, Deep Bay), and why exemption boundaries can be easy to misread
What the tax actually costs: potentially $45,000+ annually for foreign owners, with different rates for Canadian citizens and permanent residents
Why buyers need a full cross-border team in place before they fall in love with a house: REALTOR®, immigration lawyer, cross-border tax accountant, and cross-border financial advisor
A cautionary story about a client who trusted a charming but unqualified advisor, and what it cost to clean up afterward
FIRPTA withholding on the sale of US property, and why the IRS holds back a portion of proceeds until you prove you don't owe tax
A tour of Nanoose Bay's Fairwinds community: golf course, wellness centre, marina, and the new Pheasant Glen clubhouse coming this fall
Trails and biking in the area, plus planned expansions connecting Top Ridge Park to Coombs
Links & Resources
Connect with Denise: https://www.bcislandhomes.ca/
The Great Return: Canadian's Guide to Moving Home from the US — letsmovetocanada.ca
Canadians Heading South for the Winters — snowbirdsheadingsouth.com
Track your cross-border travel days — snowbirdsusdaytracker.com
