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Buying Acreage in Vernon BC and the North Okanagan



North Okanagan Acreages are always one property type in high demand.


Buyers consider buying these larger properties for livestock, vegetable farming or simply for more privacy. Not only do acreage properties avoid that busy city congestion, but acreages also 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:


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:


■ Armstrong / Spallumcheen

■ Enderby and area

■ Falkland and Salmon Valley

■ Coldstream and Lavington

■ Lumby and Cherryville (including Trinity Valley and Creighton Valley)

■ BX (both North and South)

■ Swan Lake West

■ Towards Silver Star Mountain

■ Okanagan Landing and Bella Visa


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.


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)

  

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.

Check out current listings of Acreages for sale in Greater Vernon and the North Okanagan Here:

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2310 34 Street
Commonage Vernon V1T 5W6

$10,900,000
Multi-family built: 1972

Main Photo: 2310 34 Street Commonage: Okanagan Shuswap Real Estate Listing: MLS®# 10306376
Photo 1: 2310 34 Street Commonage: Okanagan Shuswap Real Estate Listing: MLS®# 10306376
Photo 2: 2310 34 Street Commonage: Okanagan Shuswap Real Estate Listing: MLS®# 10306376
Photo 3: 2310 34 Street Commonage: Okanagan Shuswap Real Estate Listing: MLS®# 10306376
Photo 4: 2310 34 Street Commonage: Okanagan Shuswap Real Estate Listing: MLS®# 10306376
Photo 5: 2310 34 Street Commonage: Okanagan Shuswap Real Estate Listing: MLS®# 10306376
Status:
Active
Prop. Type:
Multi-family
MLS® Num:
10306376
Year Built:
1972
Rare multi-family site with additional land to add more units. Total of 40 townhomes fully rented with an annual NOI of 492K. Zoned RM2 and currently underutilized. $540,000 worth of capital improvements are underway with full renovation of 4 units. Offered for sale at 4.5% cap rate. Call for more information. (id:2493)
Property Type:
Multi-family
Transaction Type:
For sale
Ownership Type:
Freehold
Community:
Commonage
Building Type:
Multi-Family
Half Bathrooms:
0
Age:
52 years
Cooling:
See Remarks
Fireplace:
No
Heating:
See remarks
# Storeys:
3.0
Water:
Municipal water
Sewer:
Municipal sewage system
Acreage:
Yes
Lot Size:
3.1 acre(s)
Lot Size:
3.1 ac|1 - 5 acres
Lot Details:
3.1
Parking Type:
Other
  • Photo 1: 2310 34 Street Commonage: Okanagan Shuswap Real Estate Listing: MLS®# 10306376
    Photo 1 of 5
  • Photo 2: 2310 34 Street Commonage: Okanagan Shuswap Real Estate Listing: MLS®# 10306376
    Photo 2 of 5
  • Photo 3: 2310 34 Street Commonage: Okanagan Shuswap Real Estate Listing: MLS®# 10306376
    Photo 3 of 5
  • Photo 4: 2310 34 Street Commonage: Okanagan Shuswap Real Estate Listing: MLS®# 10306376
    Photo 4 of 5
  • Photo 5: 2310 34 Street Commonage: Okanagan Shuswap Real Estate Listing: MLS®# 10306376
    Photo 5 of 5
Listed by Performance Power Play Realty
Data was last updated May 27, 2024 at 08:15 PM (UTC)
Area Statistics
Listings on market:
16
Avg list price:
$229,900
Min list price:
$224,900
Max list price:
$10,900,000
Avg days on market:
591
Min days on market:
49
Max days on market:
641
Avg price per sq.ft.:
$480.49
These statistics are generated based on the current listing's property type and located in Vernon. Average values are derived using median calculations.
Salt Fowler

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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.