They exist: B.C. Waterfront properties under $500,000

Buyers looking for affordable waterfront properties in British Columbia should consider moving off-grid.

Seaside and lakefront homes and plots have increased in price over time. But the adventurous can find somethingaffordabledepending on your definition of "affordable".

Current oceanfront property is priced at $499,000 for a 0.69 acre, 1,000 plus square foot home. But it's on Decorcy Island, he's one of the smaller South Bay islands that includes Madge and Luxton. The seller lives in the house all year round and lives on electricity from batteries and solar power. No ferry service.

"It's not for everyone," says Re/Max Nanaimo realtor says her Susan McGougan. "You have to have your own boat. There are a few different water taxi services, but they are by appointment. You need to be a little familiar with the West Coast."

In 2000, McGougan and her husband purchased their little paradise, a tiny half-acre waterfront cabin on Mudge Island, for $115,000. That same property isnow worth over $500,000. Now the same lot costs $250,000.

Lakefront properties can still be found for less than $200,000, Fawn Gunderson says. The lot is off-grid and the cabins are built for recreational use.

But these sell quickly, says Landquest real estate agent Gunderson.

At the time of this writing, she was in the process of listing her 74-acre lakefront property near Prince George. "For just $460,000, you have two cabins. The internal lake is affordable. If you do a trade show in the Lower Mainland, buyers want something within six hours of Vancouver. Elsewhere , Chilcotin and inland lakeside homes become more affordable.Oceanfront West Coast, less so.”Central Coast seaside homes can exceed $1 million.

One check for rising lakeside real estate prices isthe need for cash or equity to purchase secondary recreational facilities

"Only half an acre of barren land on the islands, including the North Island region and the Campbell River, $600,000." BC real estate agent Sherry McKay says. Campbell He is part of the Royal LePage Advance Realty brokerage firm in River He is part of the Oceanfront Real Estate Team. Located in Port McNeil in the North Island region, the 0.23 acre waterfront home is listed for $735,000.

"It's as good as you're going into that realm," she says. If you go, you're under $600,000.But it's more of a recreational area.There are nicer homes out there and people live there full time.But you don't get much that way. will cost $379,000.It's the cheapest on the list, a three-acre oceanfront."

Remote work is stimulating demand, but owners are holding out. The supply is dwindling and there are very few products, she says. ``The market is still going strong.

However, if views and amenities are more important than square footage or secluded location, a prospective buyer may consider Nanaimo. Nanaimo currently has several modest beachfront condos listed for under $500,000. By comparison, in the Kelowna area, lakeside condos generally start at $800,000.

And there are always more remote locations for those who want to own waterfront property but don't want to spend $500,000. Be sure to bring your boat, solar panels and generator.

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