412 1005 McKenzie Ave, Saanich — $399,000 · mihom.ca

monthly cost

$2,561/mo

Mortgage $1,756 · Tax $162 · Strata $643

20% down at 4.44% fixed (Ratehub.ca), 25 years; tax from the listing; strata fee from the listing.

estimated payment

$1,756/ monthly

loan $319,200

25-year amortization

down payment20% · $79,80020%+ down: no mortgage insuranceinterest rate4.44%Rates from Ratehub.ca (best 5-year fixed and variable), checked Oct 30, 2026. Semi-annual compounding; your lender's rate may differ.amortizationpayment frequency

total interest: $207,616
property transfer tax: $5,980; BC general rate
cash to close: $85,780; down + PTT
total paid: $526,816

first-time buyernewly builtforeign national

Estimates only. Rates change daily and lenders qualify at the stress-test rate. Talk to a mortgage broker before you offer. Transfer tax: 1% to $200k, 2% to $2M, 3% to $3M, 5% above. First-time buyers pay nothing on the first $500k for homes up to $835k (phasing out by $860k); newly built homes are exempt up to $1.1M (phasing out by $1.15M). Both need Canadian citizenship or permanent residence and other conditions; the 20% foreign buyer tax applies in Metro Vancouver, the Fraser Valley, the Capital Region, Central Okanagan and Nanaimo.

if you rented it out

rent: $2,470/mo
after all costs: −$323/mo
cap rate: 4.3%; yearly net rent ÷ price

Rent / moDown payment %Rate %

Costs: mortgage $1,756 · tax $162 · strata $643 · insurance ~$35 · vacancy 3% · upkeep 5%.

Rent is today's market rent for a 2-bedroom in Saanich: CMHC's average there ($2,104) raised by what new tenants pay against everyone in the Victoria area, then down 1.9% with Victoria's asking rents, 2025 Q4 → 2026 Q2. (CMHC Rental Market Survey, October 2025; CMHC Rental Market Report 2025, table 6.0 (rents on units that turned over to a new tenant); trend: Statistics Canada.) Houses usually rent for more than apartments. 25-year mortgage; rental purchases need at least 20% down.

BC rules for landlords

Short-term rentals are limited to the host's principal residence in most communities. gov.bc.ca
Rent increases are capped once a year at the province's set amount. gov.bc.ca
The speculation and vacancy tax applies in many areas to homes not lived in or rented out. gov.bc.ca
Selling within two years of buying can trigger the BC home flipping tax. gov.bc.ca

property tax by year

year	assessed	est. tax
2026	$373,800	$1,944
2025	$443,700	$2,191

Estimated tax down 11.3% from 2025 to 2026.

The listing shows $1,944 a year in property tax.

Estimate: the BC Assessment value times Saanich's residential tax rate for that year (Province of BC, local government statistics). Leaves out the home owner grant, parcel taxes and utility charges; the city's tax notice is the real figure.