If you asked the average real estate investor from one of Canada’s cities how much a single detached starter home only blocks from one of the Okanagan’s beaches would cost, you wouldn’t be surprised to hear them answer “a million?” How about a 10-acre property 10 minutes outside of town? “A million?” What if I told you properties like this in Penticton start at $250,000?
The fact is real estate in markets like Vancouver, Calgary and Toronto has become so unaffordable that people’s expectations have been distorted. The concept of being able to afford a nice house to raise a family and not have to spend every last cent you have is becoming forgotten.
This brings me to Penticton, a beautiful city nestled between Lake Okanagan and Skaha Lake in British Columbia. Penticton is a place I’ve called home for many years. It’s truly a Canadian paradise. Summer months are filled with outdoor activities including long clean sandy beaches, boating, water activities and literally dozens of wineries all within minutes of downtown. You can golf 11 months ayear and skiing at Apex Mountain (which is only a 30 minute drive right to the parking lot) offers some of the best skiing in the province.
The lifestyle in general is second to none. There is a consensus among locals that we’re on the cusp of a major population increase and there are numerous world-class attractions to draw more people to the area. I’ve been involved in the real estate industry in Penticton for 13 years and I own several properties in the area, I feel real estate in Penticton is a solid investment and now could be your time to make your move to the best place in the country!
Prices in Penticton are anywhere from 1/4 to 1/2 what you could get into for the same price in larger Canadian cities like Vancouver. Many of the duplexes and single detached homes have suites that can easily be rented for $1,000 a month or more. When you factor all of that together, homeowners in Penticton typically retain a lot more of their hard earned income than their counterparts in the big Canadian cities.