One day, you’ll hit the stage that I’m at (or perhaps you’re there already!): 60 years old; still enjoy yard work and home repair projects, but both on a smaller scale; would like to downsize my home and, ideally, pocket some cash to use for travelling, etc.; plan to stay in Powell River and live independently for many years yet.
What I’d like to find is a smaller home on one floor with a smaller yard and end up with about $100,000 to spend. What’s out there?
Most single family ranchers in this category are older and generally need some updating – depleting your travel fund! It’s challenging to find the right-sized, reasonably-updated home with a smaller yard too. However, ‘nuggets’ pop up every now and then and it pays to be watchful! Call me about getting set up for email notifications on properties that might fit your needs.
There’s quite a range of homes in this category, including many that will require little or no upgrading. Unfortunately for me, the upper end of this price range will be squeezing out most of my travel money. There will definitely be some interesting conversations between my wife and I during the hunt!
New ranchers at the top of Glacier are going in the low $300,000 range. If you have the equity, these are great options. Beautifully finished; small, but nicely landscaped yards with garages waiting to be doubled as small workshop areas!
Some people like the idea of a mobile or manufactured home…these suffer from a negative stigma and a client of mine initially wanted nothing to do with “trailer parks”, however after driving through a few and venturing inside some of the homes, she’s revised her thinking considerably! There are some very nicely maintained mobile parks in the Powell River area. The ‘upside’ of mobiles/manufactured homes are the lower prices for homes that are nicely updated with a small yard. Apparently the communities are quite closely knit, so you can lock up and travel knowing that neighbors will be keeping an eye on your home. You don’t own land, so taxes are significantly lower. The downside is that you pay ‘pad fees’ which tend to be around $300/month which offsets the tax savings. It’s a personal decision – some people love them. If your travel funds are looking quite pinched by what you’ve read so far, try driving through several of the parks in town and south of town. You may be pleasantly surprised!
Leased Land is another option that many of us haven’t considered. Many of the leases north of town have been recently renegotiated for the next 100 years paid up front – No monthly fees other than taxes and possibly, maintenance. I’ve seen some beautiful ranchers leasing for much less than you’d pay for freehold property. Even 10-20 years into the lease, there’s enough time before it must be renewed that resale value should hold up well. Again, it’s worth a look!
If you’re really fed up with yard work, take a look at condos. These can go from $80,000 up to the low $300,000’s depending on location, size and finishings. Strata fees vary, but the mid-range condos pay about $150/month. Taxes are based on property value, so they tend to be in line with those of single family homes in the city.
DID YOU KNOW that property taxes in the Regional District tend to be about 1/3 of those in the city?
This is the lowest priced mobile of three for sale in this park right next to the Golf Course
#20-8442 Springbrook Rd
$83,900 (New Price!)
Call me for more information.
Bill Bailey: 604 223-0811