The acreage market in the Kamloops area has been interesting one this year! Kamloops has always been a working town with a different feel from our interior of BC cousins like Vernon, Kelowna, and Armstrong. There always seem to be buyer interest in small to large acreages around Kamloops. The trouble with acreages are two properties are never very similar so it is hard to gauge true market value before an actual sale happens and typically in this segment of the market sales don't happen as frequently as other segments of the market.
Land values are high around Kamloops with 2 acres of land selling for North of 200k fairly easily. This usually doesn't include the cost of putting in a good well, or septic system. With acreages location is key, proximity to the city, sun exposure, wind exposure, water quality/quantity, etc, all play a major role in determining just how easy to sell a certain parcel of land will go for.
I want to focus this article on one particular area, Red Lake. Red Lake is located a short distance from Kamloops along a winding dirt road that is maintained year round. The population in this area is about 400 people with mostly outdoor enthusiasts looking for relatively inexpensive 5-10 acre plots of land. How inexpensive? Probably about $50,000 or less can get you 5 acres of land. There is one new house in this area that gives a potential buyer an even better deal however. A nice post and beam home with a walkout basement that has about 2600 sq feet of living space has about 5 acres of nice land that is very much for free if you buy the house that is on the land. It is a great deal if you are one of those outdoorsy types and if you can view the details of this property here.
If you are thinking about looking at all of the options that Kamloops has for sale feel free to contact me for a no obligation chat about the current state of the market and what options are out there for your particular needs.