Buyers are currently buying these larger properties for livestock, vegetable farming, or simply for more privacy during the pandemic. “Getting away from it all” now appears to have an expanded meaning. Not only do acreage properties avoid that busy city congestion, but acreages offer safe distancing from others. Whether it be a small hobby farm or a huge off-the-grid working farm, the acreage market in Vernon and the surrounding North Okanagan areas is on the rise.
Thinking about buying an acreage? Here are some important factors to consider when looking for an acreage. Keep in mind, acreage real estate is available for many price ranges, which are largely dictated by the following factors:
1. Location: The closer an acreage is to the amenities of a major center and services, generally the more expensive.
The following sub-areas of the North Okanagan will be where the most acreage properties are found:
■ Lumby and Cherryville (including Trinity Valley and Creighton Valley)
■ Towards Silver Star Mountain
■ Okanagan Landing and Bella Visa
2. Size: If all things are equal, the more acres - the more expensive. As an example, at the time of writing, 37.03 acres on Young Road sold for 27% more than the adjacent property with 18.82 acres. You will also note that double the acreage usually does not translate into double the price.
3. Property Type: Generally speaking, the flatter the property – the more expensive. For example, 26 acres of beautiful flat, arable land recently sold for 50% more than a privacy acreage double the size. Some of the different property types you will find in the Okanagan are:
■ Small parcels, mostly for privacy and a few domestic animals, generally 1-2 acres.
■ Hobby Farms which range anywhere from 2-5 and potentially up to 10 acres.
■ Horse Properties: These properties are usually a minimum of 5 acres, are fairly flat, have various outbuildings such as corrals, tack rooms, hay sheds, are fenced and cross fences and barns and in some cases are even tricked up with riding rings other equestrian perks.
■ Farms: Larger than the hobby farmer and more focused on farming for profit. Usually flatter more arable land, some with commercial outbuildings as well.
■ Privacy Acreages: Can be from a few acres to many, with less usable land yet the added bonus of no close neighbours. (both North and South)
4. Servicing: Some acreages located close to the major centers may utilize city services such as water, sewer and irrigation district water for fields and livestock. Many larger acreages and those that are farther away from the city likely supply their own services in the forms of wells and septic systems. And still, others are right off the grid and even supply their own power source.
Once your price range is established and you have picked your ideal location for your home, then comes the fun, interesting and often challenging part: finding the ideal acreage to buy.
As mentioned above, size is an important consideration, as is property type. And often these two work together. If you want a nice little hobby farm to call your own, you may give up having a 20-acre parcel with partially usable land and opt for 5 flat acres. Many times a person will choose to sacrifice flat land, a view or arability if their primary goal is privacy and seclusion.
Although it is an involved process to find an acreage that suits all aspects of your family’s wish list, it starts with a discussion about the most important items to you in your search: Location, Size, Property Type and/or Servicing. From there we can suggest a strategy to start your property search with your goals in mind.
Interested in buying a North Okanagan acreage? Or If you are thinking of selling your acreage - we’ve got buyers.
Call 250-549-7258 or Text 250-309-9586.