Dispatches

from Right Sizing Fall 2020

Our Contributors

By Steve Threndyle

Real Estate Guru Asks

This past spring, realtors from the Fraser Valley to the Okanagan to Vancouver Island were deluged with inquiries from prospective buyers looking for more space to spread out their pandemicchallenged families and home offices. Single-family home prices have remained remarkably resilient, especially in communities within an hour’s drive of a larger hub. In Greater Victoria, benchmark single-family home prices reached an all-time high of $1.03 million. In Vancouver, multiple offers and quick sale are still the norm. In the Central Okanagan, there were almost 50 per cent “Will Your Home Be Taxed?” >>

Thanks to the principal-residence exception, generations of Canadians have enjoyed tax-free capital gains when selling their homes. However, housing and investment gurus have noted that a pandemic-indebted government may consider taxing profits on the sale of principal residences. Housing guru Ozzie Jurock points to a Canadian Mortgage and Housing Corporation study into making homeownership more affordable for the socalled Generation Squeeze of younger Canadians as one red-flag indicator. He muses, “In the last seven years we have seen a lot of gains [in housing]. If you are sitting on $500,000, a million or

A Covid-fuelled Real Estate Boom?

two—think about how long it would take you to earn this tax-free?” more sales of single-family homes in July 2020 than there had been a year earlier.

Packaged Homes: Building Trends >>

Families hoping to escape the city for a new work-at-home-friendly locale can get settled quickly with packaged homes, which utilize prefabricated construction. Builders like Discovery Dream Homes, Pan-Abode and Linwood homes have long offered buyers pre-sized kit homes or customized dwellings, in any size. Owners can save money on economies of scale, reduced building times, on-budget delivery and the convenience of sourcing dozens of construction components from a single supplier. Advanced building material lists, staged delivery and virtual 3D-graphic design previews are some additional advantages. discoverydreamhomes.com

Fort St. John: Welcoming

a Festival Plaza >>

We’re more aware than ever how much community matters, and how important it is to have public spaces like town squares, parks, and libraries. As soon as Summer 2021, residents of Fort St. John will enjoy a new downtown Festival Plaza on the site of the former Visitors InfoCentre, created by Environmental Design Solutions with input from the city’s residents. It will be a place where people can socialize, attend cultural events and, during the summer months, purchase locally grown produce at the farmer’s market. fortstjohn.ca

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Average assessed value of a single-family home in Fort St. John was $314,000 in 2019 (down 2%).

A vision of the future Festival Plaza.

A view from The Foothills in Lantzville.

Harrison: Greener Pastures (and Homes)

in the Fraser Valley >> We’ve all heard of Energy Star branded appliances, but The Odessa Group (developer of the Harrison Highlands master-planned Fraser Valley community) is selling Energy Star high-performance homes. Triple-pane windows, optional rooftop solar panels and high-efficiency heating, ventilation and air conditioning systems will save tens of thousands of dollars in long-term energy costs. There are even roughed-in areas to accommodate electric vehicle charging stations. harrisonhighlands.com

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Average assessed value of a single-family home in Harrison Hot Springs was $577,000 in 2019 (down 5%).

Looking at Lantzville

On the Old Island Highway between Nanaimo and Parksville, relatively undiscovered Lantzville (population 4,000) is joining the ranks of most-desirable Vancouver Island small communities, thanks in part to easy BC Ferries access to Vancouver. As part of The Foothills (a 900+-acre, master-planned community zoned for 730 homes and a mixed-use village) development, Lone Tree Properties donated 900 acres of space and parkland for all locals to enjoy. Large view-friendly lots, hiking, mountain biking, rock climbing ... Lantzville checks a lot of boxes! lantzville.ca, thefoothillslifestyle.com

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Average assessed value of a single-family home in Lantzville was $610,000 in 2019 (down 2%).

An Energy Star high-efficiency home at Harrison Highlands.

Bicycles are Rolling in Popularity >>

With the need for second vehicles and transit use waning in recent months, families dusted off bicycles and discovered bike paths and trails across the province. From high-alpine single track trails to flat waterfront paths, bikeways connect parks to suburbs, beaches to shopping districts, schools and universities to urban cores, and even BC Ferries terminals with downtown Nanaimo or Victoria. During a time when most consumer goods retail sales have stalled, demand for bikes—including new e-bikes—has skyrocketed. Not just good for your health, cycling is also good for the long-term benefit of the planet.

E-bikes are currently cruising to mass appeal.

Photo courtesy of Wilden

Kelowna: Fire Mitigation for Safe and Sound Communities

One of the challenges of living in some of the beautiful, heavily treed areas of B.C. is the annual risk of fires. Responsible developers of communities like Wilden, located on a forested slope in Kelowna, are keeping the ecosystem healthy—and residents safe, and their investments protected—through forest-management strategies. Fire mitigation techniques like thinning trees, removing potential fire fuel from vulnerable areas and strategies like wood-chipping or controlled burning help maintain a resilient and healthy natural forest.

New members get an orientation including Covid-19 protocols. Photo: Tom Poole

Revelstoke: Mountain CoLab Offers a Haven for Self-Employed

Sometimes, even telecommuters have to get away from their screens and meet face-to-face. In smaller towns, meeting-space options rarely extend beyond coffee shops. But in downtown Revelstoke, the Mountain CoLab is more than just a space to plug in a laptop and recharge a phone—it’s a place to recharge your enthusiasm, trade ideas and network with other members. Physically distanced hot desks, sanitized meeting rooms and kitchen space plus chic glass, wood, and concrete décor are other perks. Open 24/7 and featuring the fastest internet connection in the region, CoLab memberships plans start as low as $65 per month. mountaincolab.com

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Experience the ultimate home base at Crown Isle.

CROWN ISLE HOMES SHOW HOME 2020

Much more than just an enticing Golf Resort, Crown Isle is a vibrant living community. Zoned for over 2,800 residential units, the 1,250 units completed to date represent just a third of the total vision. From condominiums and patio homes to single family ranchers and fairway estate homes, our community strives to meet the needs of Crown Isle’s diverse residents. The crasman west-coast building scheme keeps the neighborhood pleasing to the eye and sets a consistent standard that is admired by all.

The Comox Valley region oers activities and amenities to complement any lifestyle. Mountainside, seaside, and seemingly endless forest deliver outdoor living options for residents of all ages and tastes. Galleries, festivals, and exhibits are part of the year-round calendar of the Valley’s arts and culture community. Crown Isle is anything but a typical lifestyle resort; it is a place to build a life.

GREYSTONE ESTATES

A LUXURY SUBDIVISION IN THE HEART OF CROWN ISLE. New home building lots are available from $315,000

With close proximity to the Resort Clubhouse and Restaurants, you are mere steps from a warm coee in the morning or dinner and a beer with friends on the deck of the Timber Room, or perhaps a little guidance from one of the Professional Sta at the Academy. Many of the Lots will benefit from the green park-like setting of the Crown Isle’s championship golf course.