It’s hard to not think about big open spaces when living in or visiting BC. From the expansive ocean views of Vancouver and the Sea to Sky highway to the wide open valleys of the Okanagan, there’s always room to breathe and room to move.
Now imagine owning a parcel of property of your own. The Okanagan valley has many acreages for sale where you can enjoy the space and serenity of a large property within minutes of the city and your favourite amenities. These large properties have huge potential, whether you want to enjoy having your own space or are thinking of taking on the challenge of a working property.
Single family homes – then and now
In 2021, BC broke a record for people moving to the province. At 100,797, it’s the highest annual total since 1961. One third came from other provinces and territories in Canada. The rest came from abroad. All those people are looking for a place to live – from luxe highrise condos in the city, townhouses in the suburbs, to roomy detached homes in rural towns.
While living in the city can be desirable for some, especially in the earlier parts of their career and dating life, one could argue that single family homes are still seen as the pinnacle of luxury living. Having your own living space and not being connected to other people through shared walls is something we all aspire to. Currently, the average single family home square footage in Canada is 181 m2 or 1,948 ft2.
Land value in the Okanagan
Farm Credit Canada released its annual Farmland Values Report, and the statistics show that BC farmland value increased 18.1% last year, up from 8% in 2020 and 5.4% in 2019. The Okanagan number was even greater, at 21.6%. If you’ve been thinking of getting into an acreage, the trend is only going up so maybe it’s time to start looking for an acreage for sale in BC.
Benefits of living on an acreage
There are many reasons to live on an acreage. As the city grows and develops in density, you’ll be able to distance yourself from the hustle and bustle. As well, you’ll gain much more privacy on an acreage because your neighbours are potentially going to be farther away than city living. This can be very attractive to those who have made their money in Vancouver, Toronto, or Calgary and now want to retire somewhere a little quieter. Life slows down, though depending on what type of acreage you buy, there might be more opportunity to keep yourself busy.
With that much space, you’ll be able to build out your dream locale to spec without limitations. Think hot tubs, water features, or pools for relaxing in the summer. Large comfortable sunrooms or decks for incredible mountain and valley views.
Revenue potential of an acreage
When it comes to owning an acreage, you have the option to build out space that brings in income. Retired but looking for an exciting new challenge? Maybe it’s time to purchase a hobby farm, winery, or orchard. Whatever your passion, big or small, we can help you find the perfect space to suit.
For properties of between 2 and 10 acres, provincial regulations require that they generate at least $2,500 to receive farm status. If your land can do that, you’ll be able to get a beneficial adjustment to your property taxes. Acreages have great flexibility when it comes to agricultural ideas. The only limit is your own imagination.
Helpful amenities nearby
Almost all of the acreages we currently sell are close enough to grocery stores, the airport, and social spaces such as wineries and outdoor recreational areas, such as ski hills or cross country trails. You won’t be missing out on any of the amenities you’re accustomed to having right at your fingertips.
Explore more with us
We want to work with you to find your dream single family home. Acreages are an excellent way to gain more space, more privacy, and more personalization. If you’re just beginning on your real estate journey, you’ll want to make sure to have experienced realtors on your side.
Jason and Dave Domeij are an award-winning team serving the Okanagan’s exclusive real estate market. With three decades of experience, they bring luxury product knowledge, advanced negotiating skills, personalized service, and a reputation for excellence in every real estate transaction.
Ready to start looking for your dream acreage property? Contact us today.