For parents with a son or daughter attending the University of Victoria (UVic), deciding on the best housing option is a top priority. With high rental costs in Victoria, many parents consider whether buying property is a better long-term choice than renting. Here’s a guide to help you navigate the best areas near UVic, the pros and cons of different property types, and how this investment can benefit both you and your student.
Why Buy Instead of Rent?
One of the main questions parents ask is: Is it better to buy or rent for UVic students? Owning property near UVic offers financial predictability over time and often outperforms the cost of renting in this popular area. Buying a condo, townhome, or single-family residence near the University of Victoria can provide stable housing for your student during their studies while serving as a long-term investment.
Many parents choose to invest in real estate close to UVic, knowing that, after graduation, they have options to keep the property as a rental or sell it in a competitive housing market. Here’s a breakdown of the top neighborhoods near UVic and key factors to help you decide which area might be the best fit for your needs.
Best Neighborhoods Near UVic for Student Housing
Each neighborhood surrounding UVic offers unique benefits and trade-offs. Commute time, access to amenities, and the local community all play a role in choosing the best location for your student.
Saanich East: Ideal for Proximity and Convenience to UVic
Located right next to UVic, Saanich East is considered one of the best areas for parents buying property near UVic for their student. Properties here range from modern condos and townhomes to established single-family homes with larger yards. With a short commute—often just a 5-10 minute drive or bike ride to campus—Saanich East offers excellent transit routes, making it highly convenient for students.
Pros: Proximity to UVic, quiet neighborhoods, abundant amenities, quick commutes, and high resale values.
Cons: Higher property prices due to close proximity to UVic and high demand for family-friendly neighborhoods.
Victoria: A Mix of Urban Convenience and Distance from UVic
The City of Victoria itself offers diverse housing options, from high-rise condos downtown to charming townhomes and single-family residences in more suburban pockets. Though it’s further from UVic, commuting by car or bus from downtown Victoria to UVic usually takes about 20-30 minutes.
Pros: Vibrant community, numerous entertainment options, great for students seeking an urban lifestyle.
Cons: Longer commute times to UVic and higher parking costs; often requires students to use public transportation or cycle.
Saanich West: Affordable and Family-Oriented Housing Near UVic
Saanich West is another attractive option for parents, especially those interested in more affordable housing compared to Saanich East. With a commute of around 20 minutes to UVic, Saanich West is a good middle-ground area for those balancing budget and accessibility.
Pros: More affordable housing, family-friendly neighborhoods, a mix of housing types.
Cons: Slightly longer commute to UVic than Saanich East, limited entertainment options compared to Victoria.
Oak Bay: Premium Living and Quick Access to UVic
For those interested in an upscale neighborhood, Oak Bay is both a prestigious and convenient choice, with a commute to UVic of just 10-15 minutes by car or bike. Oak Bay offers a variety of luxurious single-family homes and condos, often with ocean views or easy access to beautiful beaches.
Pros: Premium location with quick access to UVic, safe and quiet neighborhoods, close to amenities and scenic spots.
Cons: High property prices and a competitive market due to desirability.
View Royal: Suburban Living with Easy Commutes
View Royal offers a more suburban atmosphere, with a commute time to UVic of about 20-30 minutes by car. This area is popular for parents seeking a peaceful neighborhood without the premium prices of Saanich East or Oak Bay. There’s a good mix of condos, townhomes, and family residences in View Royal, often appealing to those looking for a stable investment.
Pros: Suburban feel with lower housing costs, a variety of housing types, close to natural attractions like Thetis Lake.
Cons: Commute to UVic is longer, and transit access can be limited compared to more central areas.
Langford: Growing Community with Lower Price Points
Langford is a rapidly growing municipality that offers affordable housing options, making it attractive to parents on a budget. The commute to UVic from Langford can be around 30-40 minutes by car, but the lower property prices and the area’s community feel make it a strong contender.
Pros: Affordable housing, growing amenities, popular with young families, great for future rental potential.
Cons: Longer commute to UVic, potential traffic congestion, and fewer urban amenities than Victoria or Saanich.
Key Considerations When Buying Property Near UVic
When choosing a property for your son or daughter, here are some additional factors that can help make the best decision:
Commute Times and Transit Access
Access to reliable transit is essential for students who don’t have a car. UVic has well-connected bus routes throughout Greater Victoria, and areas like Saanich East and Oak Bay offer the quickest, most direct transit options. Ensure the property has easy access to a bus route for added convenience.Amenities for Students
Look for neighborhoods with access to student-friendly amenities like grocery stores, cafes, libraries, and parks. Areas close to UVic, such as Saanich East and Oak Bay, offer study spots, gyms, and recreational areas that appeal to university students.Rental Income Potential
Many parents plan to keep the property as a rental after their student graduates, especially in areas like Victoria and Saanich West, which have strong rental markets. Condos and townhomes are often easier to maintain as rentals compared to single-family homes and attract consistent demand from students and young professionals.Safety and Community
Safety is often a priority, particularly for parents purchasing for younger students. Saanich East and Oak Bay have some of the lowest crime rates in the area, with strong community-focused neighborhoods that are both welcoming and student-friendly.Long-Term Investment Potential
Consider the long-term market appreciation in each area. Saanich East and Oak Bay traditionally experience higher appreciation rates due to their desirable location and proximity to UVic. However, more affordable areas like Saanich West and Langford are also appreciating as Greater Victoria’s housing demand continues to rise.
Frequently Asked Questions
Is it better to buy a condo, townhome, or single-family residence for my son or daughter at UVic?
The choice depends on your budget, long-term plans, and maintenance preferences. Condos and townhomes often require less maintenance and have lower price points than single-family homes, making them good options for student housing.
Which area near UVic is best for a short commute?
Saanich East is the closest area to UVic, with commute times of 5-10 minutes. Oak Bay also provides a short commute, generally around 10-15 minutes by car or bike.
What are the best neighborhoods for student safety?
Saanich East and Oak Bay have low crime rates and strong community ties, making them ideal for safety.
How much can I expect properties to appreciate near UVic?
Areas near UVic, especially Saanich East and Oak Bay, have historically experienced strong appreciation due to high demand. However, more affordable areas like Langford and Saanich West are also seeing growth as demand for affordable housing rises.
How can I get assistance in finding the right property?
Contact The Webbers, your trusted Victoria Realtor team. We specialize in helping families find the perfect property for their student attending UVic, whether it’s a condo, townhome, or single-family home.