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The 10 most affordable places in British Columbia

June 23, 2023 | Posted by: Michele Cummins

'The 10 most 

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Curtis Pope 0:23 Another Saturday morning it is time to check in with the one and only one element shell Cummings. How are you doing Michele? Michele Cummins - PREC 0:29 I'm doing great this morning Korea. Thank you. How are you doing? Curtis Pope 0:33 You know, I got a coffee and and all is good. Michele Cummins - PREC 0:36 Oh, I'm on to actually coconut water. Curtis Pope 0:41 Wow. You must start your day real early if you're already under the coconut water. Michele Cummins - PREC 0:47 It hydrates you well, I've got these flowers. I'm trying to not kill them. Because I do not have a green thumb. And so I have to wake up early to water them. And I find it so relaxing. I love it. And I'm so far so good with keeping them alive. But yeah, so two cups of coffee already down and coconut water on the go. Well, you know, Curtis Pope 1:07 we do a wellness tip every Wednesday, Wellness Wednesday. And today this week's wellness tip was how plants are good for your overall wellness because it gives you a hobby. You get to watch them grow. You see benefits from it. And of course they give off oxygen. So there's all kinds of good reasons to have plants in the house. Michele Cummins - PREC 1:25 That way I breathe better after I water my plants could be I have more oxygen. Maybe that's what it is. Great. I noticed something green on your Instagram you posted. Yay. Yes, Curtis Pope 1:40 I did. Because you know, somebody kept harassing me to fix that. Michele Cummins - PREC 1:43 I am so proud. And I love that again. It's a pineapple. But I'd love your daughter and your kitty cat Lucifer in it. That's cute. Curtis Pope 1:54 Yeah, Lucifer as you know that that was the moment I think he really decided he no longer wants to be part of our family because Cassidy does these little photo shoots with them. And he's just like, I don't want any of this. Michele Cummins - PREC 2:04 Yeah, you do not look very happy. I have to say no, you Curtis Pope 2:07 can pretty much pinpoint the moment that that cat is like I'm done. Michele Cummins - PREC 2:11 You wanted to go back out and play with the raccoons. Curtis Pope 2:13 I'm sure. Yeah. Actually, he's got a new thing. Now this this cat is the weirdest thing. He likes to go and like just chill in our garage. Michele Cummins - PREC 2:23 Oh, maybe it's cool. Concrete. Curtis Pope 2:26 I don't know we we got a couple like, you know, lawn chairs in there. And he loves to curl up in a lawn chair and just sit there and you open the door and go, Hey, do you want to come back in the house or going outside and just kind of looks up at me hours and puts his head back down? Like all right. Michele Cummins - PREC 2:39 She wants to socialize in the garage. Curtis Pope 2:41 I guess I guess it's a nice quiet space for me likes it. Cool. Michele Cummins - PREC 2:45 You should probably get yourself maybe you know what we need in the family of friends here is we need either the Batmobile, but even better yet Back to the Future DeLorean? Curtis Pope 2:56 Well, you know what? Give your husband enough time. You'll love both of them. Michele Cummins - PREC 3:00 First and Dorian. Hey, see, then he has a place something to look at. And you guys can hang out more in the garage. Curtis Pope 3:07 Oh, maybe we don't I think we definitely put a car in the garage or something is going to be annoyed that there's no no room in there for him. Michele Cummins - PREC 3:14 Well, that's true. He's very particular. Curtis Pope 3:17 He is very particular. He's a bit of an odd cat. I don't know if even though with the fact that he's like cat number three. And he deals with the other two cats. I don't even know if this cat realizes he's a cat. Michele Cummins - PREC 3:29 He feels he's human. Curtis Pope 3:31 I think he does Michele Cummins - PREC 3:32 react. Love it. Even though there's cats around. Hey, did you get your lotto Max? Because it is a crazy 70 million. You know, Curtis Pope 3:41 what would I do with another 70 million? Michele Cummins - PREC 3:45 You fly to France? I have Satco Curtis Pope 3:49 no actually haven't bought my ticket yet. I guess I should on my way home. Michele Cummins - PREC 3:53 Do it. Just do it. That's to say just do it. Curtis Pope 3:57 Well, I will because then I can I know who I can use to help me increase my real estate portfolio. Michele Cummins - PREC 4:03 Yes, I would love to help you do that. I'll continue doing that. And wow, I already have ideas for you. Okay. Curtis Pope 4:12 I love it. Okay, well, I better win that money then because I don't have the money for your ideas if I don't win. Michele Cummins - PREC 4:18 That's good. Go on. Go buy that ticket right now. Wait, let's finish our chauffeur. Yeah, I Curtis Pope 4:21 don't think I can go right this very minute. Unless you want to fill time will I run off? Michele Cummins - PREC 4:27 Well, people aren't buying houses like toilet paper anymore. So it slowed down just a little tip wouldn't see that. So little bit of time to run and get more tickets. I got three. I don't know if any more than that. Curtis Pope 4:42 That should be good. You know, one is the only one with one so. Michele Cummins - PREC 4:46 Yeah. Thanks to a friend who had told me about it. I'm like, oh, yeah, let's do Curtis Pope 4:49 it. It's amazing when they get up like that, too. It's just crazy. But then like some of those like Powerball things in the states that get up to like hundreds and hundreds of millions of dollars. It just blows my mind. Michele Cummins - PREC 4:58 Yeah, and the fact that People complain about oh, but you got to you got to pay 50% in taxes, and I'm thinking that still like $50 million? Curtis Pope 5:07 Yeah. I mean, yeah, you don't pay the taxes here and you get the whole amount. But I mean, yeah, if you're winning 700 million in the States, that's still 350 million in your pocket. Speaker 3 5:17 Yeah, plenty to take a day off. Yeah. Yeah, I would think so. Michele Cummins - PREC 5:23 Talking about spending some extra cash. Canadians have had some extra cash this past year, and they have been buying up recreational properties, like, like toilet paper. Curtis Pope 5:36 We're back to that analogy, okay. Michele Cummins - PREC 5:38 In my mind, for some reason, no, but really, it has been really crazy. And I've had so many clients in the recreational property, looking for right now and have for the past year, a lot more than usual. So I thought our first segment can be about what is Canada's most expensive recreational market. Could you guess? Or will you guess? Curtis Pope 6:01 Well, I figured the two most expensive areas in Canada for recreation, I would think would be the Okanagan or the the Lake Country area in Ontario. Michele Cummins - PREC 6:12 You are a wise man, Mr. Koch. Curtis Pope 6:14 I have my moments. Michele Cummins - PREC 6:17 It has been crazy how the market has gone up. And actually yesterday, I reached out to my realtor in Oregon, for my beach house there and I just go I'm not interested in selling but curious. How much would my vacation property be there right now. And it's literally gone up three times the amount I bought it for a few years ago, crazy high. And that's the Oregon coast, which was the last place to actually see its return in the equity since the crash in 2000, and 678. So it's crazy what everything's doing, but talking about Canada. So a survey from my brokerage REMAX conducted in partnership with Leger determined that 57% of markets offered recreational properties for below 500,000. But the average price it's believed will rise by 30% in certain markets. And they also said 44% of recreational property purchasers have set aside 200 to 500,000 that they plan to use in the next year. And I can say that all of my clients as well, so right on the money, so 59% of survey respondents who intend to buy cottage property in the next year are first time buyers. I've got a couple of those too. While 21% are looking to buy recreational properties because they've been priced out of an urban center. 22% of respondents stated that they are taking advantage of low interest rates to facilitate their planned purchase, while 11% were seeking a recreational property before the pandemic began, and 15% weren't searching prior to March 2020, but are now and I don't know if our listeners know mentioned that before on the show that as a Canadian, you can own two insured mortgages in your name and you're allowed to have a secondary vacation kind of weekend getaway property with only 5% down so with those who want to use the great low interest rates, and they've got saved up some cash for a down payment, this is a perfect opportunity to buy that vacation property. There's intense competition though among buyers in Canada's recreational property, no surprise markets in inventory is stretched very, very thin. So keep that in mind when you're looking you're not gonna find something overnight most likely, but the vice president of the REMAX Ontario Atlantic Canada, Christopher Alexander, he's the Chief Strategy Officer and the executive vice president, sorry had mentioned that Canadians recognize that recreational properties remain an affordable option in such a turbulent markets. There are still many recreational markets across Canada that are deemed affordable despite the growing demand and rising prices. And so going on to the more specific price points. Last week we had our May stat show and this is a bit stat of stats overall for recreational properties in Canada. So the most affordable regions in Canada for waterfront properties include thunderbay at 425,800 Charlottetown at 334,000, almost 500 and the Interlake region of Manitoba at 364,000. Almost a while the most expensive Are you said at Curtis Okanagan at 2,430,000 and Barry insists still at 1,841,000 and the Niagara region 1,550,000 So 60 to 70% of recent buyers in the area are from the Lower Mainland of Vancouver, many of whom are already planning for their retirements. But the more obvious reason is how minimal the options for waterfront properties are, there's just not a lot of them. waterfront properties are becoming more scarce. And as I mean, it's just nowhere scarce can be like hardly any, I've got a couple of buyers right now looking for it. And it's hard. And that's part of why it's gone up so much as well. But they're thinking we better get in now because there's, there's just less and less of it. So so if you're looking or wanting waterfront property, there's no better time than get in always sooner than later. Lots of newcomers to the Kelowna area lot. So the price of an Okanagan waterfront property averages over 2 million, but it goes up to about 5 million is three to 5 million, there's quite a lot of sales in that price range as well. But the region is following a nationwide trend. So that's what's happening. There. A local there says that the trend that they've seen all across Canada, with people trying to move out of the densified urban cores to go somewhere more relaxed. And of course, Kelowna, this is like the Palm Springs of Canada. So it checks all the boxes, and it's still half the price of Vancouver so that that's why And anyways, for more information, I actually have a video that I did. I auditioned for an HGTV show quite a few years back, and I did on vacation properties, how to purchase a vacation property. It's called The Real Estate show, vacation properties 101. And I uploaded it in this last year to my YouTube channel. So you can go on there and learn, you know, how do I go about purchasing a vacation property? It's a really fun little segment. I did and it's actually the audition I did for the show. And no, I didn't get the part. But it's because they ended up not doing that show that they were going to do. They still haven't done that specific show that they were planning on. But anyways, so there you go, you can have a look at that when you want. Curtis Pope 12:06 Well, I was gonna say when is HGTV going to come calling and give us a show? Michele Cummins - PREC 12:11 You know what we need to get involved in maybe the Magnolia network. Maybe that's, that's that. And you know, maybe in in partnership with HGTV, let's, maybe we should reach out to them. Curtis Pope 12:26 Maybe we should. But again, I got a face for radio, so maybe it's just gonna have to be you. Michele Cummins - PREC 12:31 You and I already have an idea for a show. And it's under top secret right now only few of us know. But that show is going to be fantastic. We should pitch it. Well, you Curtis Pope 12:42 know what I'm in? Yeah. Well, if people want more information about what you do as a realtor, or they just want to Well, you know, worked with us as producers on our on our concept. Where can they get a hold of and find out what you do when you sell We're back with more right after this. And we're back with segment number two of the Cummins Real Estate Group show with Michelle Cummings and myself Curtis Pope. Well, we talked about recreational properties in the first half of the show. What are we talking about this half Michelle? Hen popular Michele Cummins - PREC 13:49 home renovation trends to tackle this summer because we're into June, almost mid June and summer is around the corner. Now wait Curtis Pope 13:59 a minute. Now this would be a perfect segue. Do we have any renovations for recreational properties? Unknown Speaker 14:05 Oh, lot. Perfect. So Curtis Pope 14:07 we have a segue natural segue. Michele Cummins - PREC 14:10 Absolutely. And I have personal experience I can share because there's some of the points that I've done on my recreational property are in here. And I did it because of the value that it lends to the property and it helps it rent out as a vacation rental as well. So that I mean, there's tons and plenty of renovations you can do this summer, but I wanted to really focus on ones that build equity and ones that you could also enjoy. And so these are the 10 I've chosen. And so, you know, if you try to tackle some things this spring, well, we want to finish the job that you've started but these are the 10 ones that I suggest. So the first one and the first one I did at my vacation property was replace your fence. So with proper care, I mean a good friend. It can last Around 15 years or so, in our wet climate of the Vancouver area, you know, it doesn't last as long if you use an actual wooden fence, however, about 15 years you should get so wood fences eventually rot, right? So they need replacing. So if you want to spend more money on the quality that doesn't rot great, so you just powerwash it more often, and you're good to go. But wood fence should should go about 15 years or so. So that really, really helps. a selling feature is a fully fenced backyard, you want to keep that in mind. So many people will have pets, and they always ask and if you want to rent partly your recreational property out while you're not using it. That's always a selling feature number two deck replacement or an addition. So deck additions are easily one of the most popular home renovations, especially this year. Because outdoor gatherings are one of the few ways friends and family have been able to get together during the pandemic. So making the meeting place that we have better for on a deck. And so a patio and adapt is extremely valuable deck and companies are busy right now. So you got to call early, you got to plan ahead or do it yourself and save a lot of money. But you got to get out there with your you know on your hands and knees and get it done. Just remember those that you need a permit in most places to build a deck. So keep that in mind and permit sometimes take a couple minutes months to get approved for decks shouldn't be that long. So but but definitely keep that in mind. So you already have a deck if you'd like to update it this summer, adding a new layer of vinyl is a great way to freshen things up. Replacing rotting wood railings with aluminum or glass railings is another excellent way to improve the look of your deck or patio. And layers like you have Curtis the layers gives you like different sections of meeting spaces and sitting spaces in areas that you can hang out in and it actually gives a whole cool dimension to your yard. Curtis Pope 17:08 Yeah, actually, it's pretty cool that we have like a triple deck deck. No, it's pretty cool. Michele Cummins - PREC 17:14 Yeah. And the third one is update your roof. I mean, this one's not as fun. But you know it's needed it's very needed. So a new roof should last you a minimum of 15 years like the wooden fence, though they can hold out much much longer than that. But they can be less if you've got lots of large trees and you don't maintain or update it like keep it maintained. Wood and asphalt shingles are both very widespread. But you gotta you gotta watch for any sagging law which can single sign of trap moisture and any patches of shingles that are buckling. So if you notice any of these signs and it's been over 15 years since the roof was replaced, don't wait until you start seeing a leak coming through your your ceiling. Or you know you go up in your crawlspace or your attic and you know you don't want all your insulation to be soaking wet and just you know keep an eye on your roof and replace it when needed. It's very important and it obviously brings good value to your home. So the fourth summer renovation, bathroom remodel and this can actually be not as daunting as you think starting a bathroom remodel. Or thinking about it could be like oh my gosh but once you get going you realize it can be pretty simple. So once you begin, think it's a smaller space usually the bathroom, so not too overwhelming but retiling your bathroom floors is a great thing to do. And while you're doing that, think about maybe putting in a heated floor like electric pads. That is a selling feature retiling your shower or just refitting it or replacing showerheads and toilets. Paying a new mirror replaced the light fixture add a new vanity and wow relatively quickly you've totally redone the whole space and it looks amazing. So when it comes time to sell you'll be happy you did that fifth tip out of the 10 is a new kitchen backsplash. The other day I was showing the property and it didn't have any backsplash and you really you can kind of you know release a backsplash is like framing a picture it's it's so important because the kitchen can be a considerable job depending on how much you want to take on but literally if you focus on maybe a new backsplash, that's an excellent place to start. If you're looking for a smaller project and new backsplash can be really make it really pop and you want to think about color. So if your countertop slightly make sure your counters are slightly warmer tone than your backsplash and that keeps your backsplash looking very clean. And so that really helps and then Another quick fast other tip is new new tap on your kitchen, sink and handle on your cabinets, not to replace the cabinets a lot of times just changing the tooling, changing those handles make a big difference. Okay, the sixth tip exterior painting this I still have to do at my beach house. It's coming up hopefully this summer. So interior painting is always a good idea when it comes time to sell your home. But exterior painting shouldn't be overlooked. The summer months are the perfect time to update the exterior of your home. Because the weather's better adding a fresh coat of paint. Even if even if it's the same color as before really brighten things up. It literally does. Adding some new trim color to the exterior doing a flat stucco job to make things look more modern, or simply removing old wood paneling, I mean, all that can go a long way. So think of that number seven window upgrade. So that's that could be a big ticket item though. But again, it's an important one, upgrading your windows will not only make your home more attractive and modern, but it will also save you money in the long run. So if you're staying there for the long run, think of that for yourself. Replacing your Windows is one of the best kinds of renovations those that will save you money every single month. Whether you're keeping cold air in during the summer months or the warm air in during those winter months, it really does help your pocketbook, I will also make you you money when it comes to list your home because literally double pane triple pane and low E windows are precisely the kinds of features that energy efficient buyers are looking for right now. Number eight frame in your carport. Somebody with a lot of cars like myself finds value in garages and how many buyers Do I Have and Have I had that have said Michelle, a garage is an absolute must. So if you have a carport think about framing it in, you'll likely need to get a permit to frame in your carport. Again, think of that check with the city before you do that. It's become extremely popular loads to opt for garage instead of a carport for practical and overall home security reasons. So it looks for garage door too when you do it that has good insulation so that your home stays warm in the colder months. And keep in mind, the heavier the door the stronger your garage door opener has to be. Otherwise, you know, it'll just run down and could break quicker than you want. So make sure and up for a Wi Fi garage door opener making your homeless smart home and helping the motorcyclists in us all because we all love to even if we don't want to ride a motorcycle, at least I would like to think so. But I've had a few clients that have said you know they love the Wi Fi garage door openers because they can't bring the big clickers with them and they've accidentally clicked it before. And then the garage door opens up and they're off gallivanting around enjoying a motorcycle ride in the beautiful summer, Saturday day while their garage doors wide open for anybody to go in. So that's why the Wi Fi openers are really great. And number nine, my brother Curtis Pope 23:08 had installed one of those and he loves it even tells him if it is open. So if his wife opens up the door he knows. Michele Cummins - PREC 23:16 Yes, it alerts you exactly. Yeah, so Curtis Pope 23:19 he likes he's like wait a minute, why is my door open? All right, I'm at work and my wife's home makes sense. Other times he's like, wait a minute, we're both here who's messing with my door. The kids know that it's usually you know, I've been overdoing some things to mess with them. Michele Cummins - PREC 23:35 Now you replace your doors, you'll be surprised by how much this freshens up your home because again, it's like a frame as I mentioned that before, it literally just makes such a huge wow factor is by just replacing the door. So whether it's replacing the aging doors in your bedroom swapping an old sliding door for a set of beautiful French doors or replacing your front door give the first street allow factor that would choose a new neat design color. I always thought the houses was really cool colored doors with nice windows and everything. It's really great. So that's it could be simple but again, that's a huge thing. Black or brass door handles stand out and make a great impression as well. So again, the tooling you use can make a difference and the 10th and last tip I have for this summer renovation projects add new siding or stucco. If you are going ahead with redoing a deck or framing in the carport, you know we talked about those two things, there's a chance you may need to re stucco or add some siding to because you're you have new exterior walls so or you've had to remove something you have to replace it. So thinking of something that's low maintenance often for fiber cement siding, I mean choose durable products as well. It'll help in In the long run, but you know think you can spice it up a bit and put in a nice feature rock or something and that goes a long way. Especially when you have all the same the wall of the same and but you have no windows or no feature sometimes having a few feet of a layer of of standout kind of like wainscotting in your bathroom, something like the bottom part rock or something else to give it some character. So those are the 10 tips I have for this summer's renovation projects. Curtis Pope 25:31 And join us again next week when we will talk real estate in order to unlock your real estate potential on the show real estate is maximized. Thanks for listening

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