Right Sizing Winter 2020 by rightsizingmedia

winter 2020/2021

Cool Towns for Winter Work + Play

DIRT, CHEAP

THE PRICE AND PERKS OF EMPTY BUILDING LOTS

SELL, RENT OR HOLD THE SNOWBIRD DILEMMA

rural retirement homes

New mortgage options

indie boutique hotels

Canadian Home Builders’ Association

NATIONAL

AWARDS for

HOUSING EXCELLENCE

community development - 2020

Just imagine coming home to the Lake… Every day! That’s the beauty of Lakestone. The Lakestone Masterplan is unparalleled in the Okanagan and is truly the hidden gem of Lake Country. No other community combines such a stunning landscape with a wealth of desirable amenities. You will love the privacy and breathtaking scenery Lakestone’s location offers, with the convenience of being just minutes away from downtown Kelowna and the Kelowna International Airport. A variety of home sites have been incorporated into the approved Masterplan including lakefront and lake view home sites with a wide selection of building options such as walk-up and walk-out homes. At Lakestone, a beautiful community is budding, while still maintaining over half of the site in its natural state. Enjoy 28.8 km of trails leading from the lake front to the summit, weaving through 250 acres of preserved natural open space. Homesites Starting from $225,000*

VISIT OUR Show Homes & Information Centre Open 12-4 pm Tues-Sun 9678 Benchland Dr., Lake Country, BC www.lakestoneliving.com Local 250.766.1213 Toll-Free 1.877.766.1213

EXCLUSIVELY MARKETED BY

*This is not an offering for sale. Prospective purchasers are entitled to receive the Developer’s Disclosure Statement and all amendments thereto prior to making an offer or purchase. Disclosure Statement and amendments may be obtained from Macdonald Communities Limited by emailing info@lakestoneliving.com. The Developer reserves the right to make changes without notice. Prices quoted are for new purchases only exclusive of GST, subject to availability at time of visit and/or to change without prior notice. Exclusively Marketed by The Property Source Group RE/MAX Kelowna. E.&O.E.

WHATâ&#x20AC;&#x2122;S INSIDE Winter 2020/2021

Right Sizing

Winter 2020/2021

Up Front 6 Publisherâ&#x20AC;&#x2122;s Letter

Departments

12 New condos: map and listings

Dispatches

16 Boutique hotels

Features

19 Mortgage options 31 Essay: silver linings

20 Small Business Thinks Big

46 Seniorsâ&#x20AC;&#x2122; residences

24 Getting the Dirt on Building Lots

48 The snowbird dilemma

34 12 Cool Towns for Winter Work + Play

50 Hidden jewel: Kimberley

Snowshoeing at Nancy Greene Lake in Castlegar, B.C. Photo: Destination BC/Steve Ogle

Winter 2020/2021 Right Sizing

Publisher, Founder Editor Head Designer Online Design Proofreader Digital Media Manager Video Production

Steve Dietrich Charlene Rooke Amélie Légaré John Magill Lisa Manfield Charity Robertson Chris Dietrich

Writers Catherine Dunwoody, Michelle Hopkins, Bob Keating, Gail Johnson,

e’re told by our readers and clients that these days, Right Sizing is more relevant than ever, and that we were ahead of our time when we launched this publication, almost three years ago. Due to people wanting to have more space and less interaction in crowded spaces, along with the many companies that have told their employees that they will be able to work permanently from home, smaller communities are seeing more people than ever moving to rural B.C., not only from Vancouver and Calgary, which is the trend we’re following, but also from other Canadian and international cities. Countless recent media stories back up this trend. Booming Canadian e-commerce company Shopify declared itself “digital by default,” with employees who can work from anywhere—the Vancouver Tech Journal reported that Shopify Retail’s head of marketing is based in Vernon, for instance. Deloitte has shut down four U.K. offices, asking 500 of its staff to work from home permanently. As the company says on its website, “What started during the pandemic, as a safety measure to keep employees from falling ill and spreading the virus, has been found to be productive indefinity. It may seem a step in the right direction when you factor in the travelling time, office expenses and related fatigues—a great example of meeting employee needs while satisfying company goals, efficiency and profitability.” Many residential developers that we are in contact with are reporting entire communities sold out, or are scrambling to onboard new phases. Waterfront properties, in particular, were extremely popular buys last summer. Predictions are that ski-town properties will be even hotter this winter. To speak to this trend, we feature a great story on ski towns with access to co-working space, for entrepreneurs and workers that want to live the dream this winter, but also be connected with local-minded business people (page 34). We’re also seeing a big trend in snowbirds from eastern Canada coming to B.C., as an alternative to the harsh winters in the rest of Canada, and many are contemplating whether to buy, sell, rent or keep a sun destination property south of the border (see page 48). This past summer, my wife and I had a wonderful exploratory road trip throughout B.C., gathering story ideas for the magazine, meeting with clients and quite frankly looking for smaller town options for ourselves. An eight-day trip from Vancouver to Salmon Arm, Cranbrook and back through Nelson and Osoyoos covered two dozen towns. We also did similar tours on Vancouver Island and the Sunshine Coast. I highly recommend exploring the province in this style. Outstanding scenic drives and vibrant communities with great restaurants, cafés, pubs and wineries (which we have highlighted in past issues). On page 16 we feature a few boutiquestyle local hotels that I also recommend. The options in our beautiful province are tremendous. Land values are still quite reasonable (see page 24). Entrepreneurial business opportunities are abundant (see page 20) and amenities and investment opportunities are everywhere in right-sized communities. Steve Dietrich Publisher

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Right Sizing magazine, established 2018. The magazine will be published four times per year by Publimedia Communications Inc., established 1996. All rights reserved. The opinions expressed in this publication do not necessarily reflect those of the publisher, or the staff. All editorial is deemed reliable, but not guaranteed. The publisher is not responsible for any liability associated with any editorial or products and services offered by any advertiser. Editorial submissions will be considered, please send them to the publisher. Copyright© 2021 Publimedia Communications Inc. Reproduction without permission is prohibited. The publisher and printer will not be responsible for any typographical errors, mistakes, misprints, spot colouring or any misinformation provided by advertisers. Website

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Cover Image Rossland, B.C. Photo: Destination BC/Steve Ogle

PRINTED IN CANADA Winter 2020/2021

NOW SELLING 1, 2 & 3 bedroom condos ranging from 634 to 1,182 SQ. FT.

DISCOVERY CENTRE & SHOWHOME 8242 200 St, Langley BC

604.371.1669

LATIMERVILLAGECONDOS.COM We recommend booking an appointment with our sales team in order to ensure social distancing.

Dimensions, sizes, specifications, layouts, and materials are approximate only and subject to change without notice. E.&O.E.

Open Daily 12 PM to 5 PM Closed Thursday & Friday

Port Alberni Mayor Opens Restaurant Young people continue to inject fresh energy and entrepreneurship into many smaller B.C. communities. Take Sharie Minions, for example: A successful realtor and mortgage broker, in 2018 she was elected mayor of Port Alberni at age 30, making her the youngest mayor in Vancouver Island’s history. She now adds restaurateur to her resumé. Together with her husband, Colin, this past summer she opened Brie & Barrel, a casual Italian spot specializing in handmade pasta and wine flights. facebook.com/brieandbarrel

Buy here 2019 average assessed value of Brie & Barrel in Port Alberni, with co-owner and Mayor Sharie Minions second from left. Photo: Candace Scott Photography

a single-family home in Port Alberni: $299,000 (up 8%).

Dispatches By Michael White

Construction Obstacles Get a Lift

You’ve found the perfect secluded location for your build. But there’s a problem: It’s perhaps too secluded—getting the materials there could prove a nightmare. That’s why homebuilders like small-dwelling specialists Hewing Haus are increasingly using helicopters to bypass difficult roads or barge ramps, since a standard helicopter can lift up to 2,000 pounds (about 900 kilograms) of lumber. Rental rates are around $2,000 and up per hour, but savings may be substantial compared to other shipping methods. hewinghaus.com Hewing Haus uses helicopters to transport construction materials. Photo: Hewing Haus

Food Hall Coming to Kamloops’ North Shore The Colours on Spirit Square, a mixed-use residential development on Kamloops’ North Shore being developed by APRA Investments, is soon to be home to a food hall modelled after those found in cities such as London, Tokyo and L.A. Jeff and Steve Mitton, the team behind local restaurants Mittz Kitchen and Twisted Olive, will manage the space, scheduled to open in Spring 2021. The hall will accommodate an anchor restaurant, two bars, 10 stalls and seating for more than 200 guests. thecolourskamloops.ca

Buy here 2019 average assessed value of a single-family Jeff Mitton (left), Steve Mitton (right), Food Hall. Photo: APRA Investments

Right Sizing

Winter 2020/2021

home in Kamloops: $461,000 (up 7%)

The $2.425-Million “Bargain” in Campbell River >> An asking price of $2.425 million may seem steep, but this recent listing in Campbell River—the most expensive in a town of about 35,000 people—still feels like a steal. (Compare it to mansion listings in Vancouver that can approach $40 million.) Built in 2016 by Crown Pacific Homes, this home at 2845 North Beach Drive is luxury through and through: 4,400 square feet of living space on half an acre of waterfront land, with boast-worthy features including a 40-foot dock, four bedrooms, a floor-to-ceiling gas fireplace and a 1,500-square-foot “man cave” with wet bar, mezzanine and more.

Buy here

2019 average assessed value of a single-family home in Campbell River: $442,000 (up 11%).

Improving Connectivity in Rural and Indigenous Communities The internet may feel like it’s everywhere, but many rural and Indigenous communities have yet to enjoy reliable access. The $5.6-million Whistler-to-Cache Creek project finally brings high-speed internet and other broadband services to the community of Lillooet, the Lil’wat Nation and the Ts’zil Learning Centre. The fibre-optic line was made possible thanks to grants and contributions from B.C. and federal government programs, as well as Shaw Communications. 2019 average assessed value of a single-family home in Cache Creek: $181,000 (up 11%).

Kitimat Booms Thanks to LNG Canada Project

Buy here

Despite a small population (just over 8,100 as of the last census), Kitimat continues to punch above its size in terms of employment opportunities. (The Globe and Mail has called it “Canada’s next boom town.”) That’s largely due to LNG Canada’s $17-billion liquefied natural gas (LNG) plant and export terminal, scheduled for completion in 2025. It’s expected to employ as many as 7,500 workers during the peak construction years of 2021 to 2024, and already employs about 1,600 people. lngcanada.ca

Buy here 2019 average assessed value of a single-family home in Kitimat: $332,000 (up 41%).

Kitimat aerial. Photo: Wikimedia Commons

Winter 2020/2021 Right Sizing

Building a Better Future Integrating unique building technologies, such as Timber Frame, Log Homes, and efficient wall Panel construction, the Discovery Dream Homes team has perfected the balance between sustainability and affordability. Whether your vision is mountain modern, contemporary craftsman, or a prairie ranch style, our dedication is reflected within the attention to detail on every project.

Re sid e nt i al Multiple award-winning Designs Not only are we know for our high level of service and attention to providing quality products, Discovery has been recognized by its peers in the industry as an innovative and imaginative designer. This is evident within the numerous awards received for the projects we have had the pleasure of being involved with over the years, and most importantly our client satisfaction. Raymond King President/CEO Discovery Dream Homes

Discovery Dream Homes.com

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The Colours, Kamloops From a shiny new recreation centre to regularly scheduled flights, Kamloops has all the amenities to attract people seeking a comfortable lifestyle and investment opportunities. New development: The Colours on Spirit Square is a mixed-use residential development in the heart of downtown, with two-level, twobedroom units and loft suites with rooftop patios, plus one- and twobedroom micro suites. Starting at $179,000. thecolourskamloops.ca

Wilden, Kelowna This hillside enclave in Kelowna’s north is its largest master-planned community. New development: Just a 10-minute drive from downtown Kelowna and 15 minutes to the airport, Wilden features not only builder-ready lots for custom homes but semi-detached townhomes in the Lost Creek Point neighbourhood, energy-efficient units with three bedrooms, in different designs and floor plans. Starting at $724,900. wilden.ca

Oasis Residences, Summerland Situated between Kelowna and Penticton and across the lake from Naramata, Summerland’s meandering country roads call out for long walks or runs, and in summer become bike rides bounded by orchards, vineyards, farms and roadside stands. New development: A twobedroom, two-bathroom-plus-den luxury home in Oasis on Okanagan Lake features a European-imported custom kitchen, spa-inspired bathroom, floor-to-ceiling windows and unobstructed 180-degree lake views. $1,149,900. liveoasis.ca

Kelowna’s Lower Mission neighbourhood is close to popular Gyro Beach and a short drive to downtown. New development: Green Square is a collection of family-friendly condos and townhomes with up to four bedrooms, located in the centre of Lower Mission. It’s close to recreation facilities, schools, parks, shopping, wineries and more. Starting at $349,000. greensquare.ca

Located 100 kilometres east of Vancouver, this community is hard to beat when it comes to its local economy, affordability and access to amenities. New development: Find modern and spacious three-storey, three-bedroomplus-den and three-bedroom-plus-income-suite options in Base 10. Chilliwack’s newest master-planned townhome community is ideal for families and first-time buyers. Starting price $470,000. base10living.com Right Sizing

Winter 2020/2021

Kelowna is one of Canada’s fastestgrowing cities and the hub of the Okanagan Valley. It’s an all-season playground due to its mild climate, sunshine and proximity to mountains and lakes. New development: 450 PARC in Kelowna South has 22 spacious high-end units within an entirely concrete structure with proximity to restaurants, shops and Okanagan Lake beaches; each unit has access to two different outdoor living spaces. From $1.28 to $2.78 million. 450parc.ca

Green Square Vert, Kelowna

Base 10, Chilliwack

450 PARC, Kelowna

The Residences at Bighorn Meadows, Radium Hot Springs People come for the famous hot springs, but stay for the collegial village atmosphere. On summer Fridays the town centre hosts a community market with local crafts, food and live entertainment. New development: This premier resort community, privately situated along The Springs Golf Course in the Village of Radium Hot Springs, can provide owners with rental income through an on-site management team. Priced from less than $400,000. bighornmeadows.ca

NEW CONDOS FOR LIVING, PLAYING AND INVESTING Whether youâ&#x20AC;&#x2122;re seeking an investment property or a lifestyle destination for your primary or secondary home, these new condo projects have everything going for them, from location to value to amenities. By Right Sizing Staff For direct links to all listings, go to rightsizingmedia.com/condos

Aspen Grove, Rossland Located in the beautiful Kootenay Rockies Region, Rossland offers year-round recreational living: from skiing and boarding at Red Mountain Resort in the winter to horseback riding and mountain biking in the summer. New development: Aspen Grove is a collection of 18 one-of-a-kind contemporary homes featuring one- and two-level, two- and three-bedroom condos, each with two-and-a-half baths. Spread over five buildings, they have generous interior and exterior spaces and are located next to a three-acre park. Priced between $700,000 and $800,000. aspengrove.ca

Winter 2020/2021

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Jumar, Squamish This young, vibrant and growing community is proud of its forestry roots yet embracing diversification. With major retail stores lining Highway 99, Squamish is a service centre for residents in Whistler and Pemberton. New development: This unique two-bedroom, two-bathroom unit is more than 1,000 square feet and modern throughout, with Caesarstone countertops, stainless steel appliances, porcelain flooring and a huge patio overlooking the Chief and Howe Sound. $648,000. jumarsquamish.ca

Sunrise Ridge, Parksville A growing community located on the eastern shores of Vancouver Island is known for large sandy beaches at Parksville Bay and Craig Bay. New development: The Residences at Sunrise Ridge waterfront resort, overlooking the sandy beaches and calming waters of the Strait of Georgia, offers open-concept modern townhomes with high ceilings and plenty of natural light, plus covered patios. Starting price $448,000. sunriseresortparksville.ca

Côte, Gibsons The heart of this Sunshine Coast community has been its scenic working harbour, but it’s transitioning from a fishing and forestry base to a more diverse economy with construction trades, business services, retail and tourism. New development: This limited collection of four contemporary, coastalinspired condos in the heart of Gibsons Landing (each with three bedrooms, only one suite per floor) provides a unique opportunity to moor your boat and walk a few steps to your home. From $950,000. cotegibsons.ca

Latimer Village, Langley The Westerly, Nanoose Bay This small seaside resort community, located between Nanaimo and Parksville on the Strait of Georgia, is popular for exploring tide pools, picnicking and swimming, biking, plus the trails of Moorecroft Regional Park. New development: Oceanfront living in the heart of the Fairwinds community is accessible through 39 concrete-construction condos in Schooner Cove with designer interiors, gourmet kitchens including breakfast bars and spacious covered balconies. Average price $850,000. thewesterly.ca

Map from Google Maps

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Winter 2020/2021

Young professionals love Langley for its affordability and an authentic small-town, rural vibe. Spend a day with your family berry picking, explore historic Fort Langley or enjoy wine tasting at local wineries. New development: Latimer Village condos located in the Willoughby neighbourhood consist of two- and three-bedroom bright, open concept units. Starting in the low $400,000s. latimervillage.ca

Travino Landing, Saanich Just north of Victoria, this mixed urban/rural community has 169 parks, four recreation centres, beaches and more than 100 kilometres of trails. New development: A two-bedroom, two-bathroom-plus-den suite on the southwest corner of the pet-friendly green-built community of Travino Royal Oak has nine-foot ceilings, a spacious gourmet kitchen surrounded by green space and expansive views. $829,000. travinoliving.com

PHOTO: KRISTAL BURGESS

Make your next move to the Shuswap! Active & awesome in Autumn Ridge This is not your average 55+ neighbourhood! The people living here are out golfing, hiking, kayaking, canoeing and not worrying about their front yards! There is however, a little backyard competition going on as to who can make the best outdoor gathering space to taste wine, hot toddies and craft beer. Choose to spread out — or downsize. Main floor living with or without full walkout basement; select from five creatively designed floorplans. The best part is Steve McLean from Shuswap Country Builders — a registered builder with over 25 years experience — is ready to help you build your new Shuswap home.

Adjusting to life in this down-to-earth, active community overlooking the shores of Shuswap Lake isn't hard. With the serenity of the outdoors just steps from your front door - what's not to love? The Shuswap Lake Estates family has been building community for over 50 years. You need only drive the scenic streets to see neighbours chatting together, or out enjoying a walk or a bike ride. Life here is about living a laid back lifestyle which is easy to do when the glory of the Shuswap is at your front and back door. Located in scenic Blind Bay, if offers homes for families and couples of all ages. The Highlands sits high above the bay and features panoramic views of Shuswap Lake, the golf course and the valley. The community offers premium, fully serviced lots on which to build your dream home. Fox Glen offers quiet living with mountain views. Head out your backyard to meander miles of walking and hiking trails throughout the peaceful and friendly communities. It’s no surprise then that this way of life is easy to get used to. After finding the ideal neighbourhood and property, we know you'll be ecstatic to call a place that offers peace in the outdoors home. Located 45 minutes east of Kamloops and Fully serviced properties start at $109,000. We looked all over BC for our new home and community. We accidently found this place — and it's been the best decision we ever made. - FRANK AND DONNA T.

2405 Centennial Dr, Blind Bay, BC, V0E 1H2 1.888.675.2523 EMAIL: sales@shuswaplakeestates.com www.shuswaplakeestates.com

Oak Bay Beach Hotel, Victoria

CHECKING IN TO CHECK IT OUT When youâ&#x20AC;&#x2122;re looking for a new community to call home, you want to spend time there first to get familiar with it, to see if it jibes with your lifestyle. Staying in singularly original, local hotels can provide a real feel for a place. By Gail Johnson

Today more than ever, independently owned hotels in smaller cities and B.C. towns are finding ways to cater to locals and tourists. That makes them a great place to stay when youâ&#x20AC;&#x2122;re thinking of moving and checking out potential new communities. Here are a few such accommodations that are hotspots for visitors and residents alike. Always check hotel websites for any pandemic-related closure dates and times, travel restrictions or advisories.

Right Sizing

Winter 2020/2021

Oak Bay Beach Hotel, Victoria You might not want to leave this luxury oceanfront boutique hotel, with its views of Juan de Fuca Strait and magnificent Mount Baker. Heated mineral pools look out to the Salish Sea, each room has a fireplace, galley kitchen, and floor-to-ceiling windows and in summer, seaside yoga classes take place on the terrace. FARO restaurant serves pizzas made in a Wood Stone pizza oven as well as seasonal share plates, creative cocktails, and local wines. There are suites for VIPs (Very Important Pets) and a B.C. Residents Rate. oakbaybeachhotel.com

Watermark Beach Resort, Osoyoos A stay at this resort right on Osoyoos Lake is more like being in a condo than a hotel: rooms (from studio to three-bedroom size, plus town homes, some pet-friendly) have fully equipped gourmet kitchens complete with china and stainless-steel cookware, plus a dining room and living room, private balcony, high-speed wireless, and more. Watermark offers extended stays and snowbird rentals, as well as preferred rates for golf, skiing, and wine-touring packages. After a full day exploring, you can relax in one of two hot tubs by the lakefront pool. Currently the restaurant is serving local farm-to-table fare Wednesday to Sunday, plus a Sunday brunch. watermarkbeachresort.com

The Kingfisher Oceanside Resort & Spa, Courtney

The Kingfisher Oceanside Resort & Spa, Courtenay Situated in an old-growth forest on Vancouver Island’s eastern coast with sweeping views of the Strait of Georgia, the resort is renowned for the Pacific Mist Spa Hydropath. The guided experience draws on the ancient healing properties of water, taking you through sandstone sculpted caves, from a mineral pool to a waterfall massage to a tidal bath, as wafts of aromatic steam soothe and restore. The Serenity Gardens are a place to stroll or sit amid streams and greenery and through January, the Winter Light Display makes the lush grounds sparkle. Locals love the Starfish Studio yoga program, with sessions by candles and firelight in cooler weather. There are two restaurants to choose from: AQUA Bistro & Wine Bar and Ocean7. kingfisherspa.com

Watermark Beach Resort, Osoyoos

Rockwater Secret Cove Resort, Sunshine Coast Halfmoon Bay is the home of this peaceful getaway, which has accommodations ranging from sumptuous tent-house suites (think glamping with rainforest shower, hydrotherapy tub with an ocean view, fireplace and a comfy king size bed) to refurbished 1950s log cabins to lodge suites with views of Malaspina Strait. Yoga, hiking, and biking are all offered, as is daily access to Thormanby Island, where you’ll find a long stretch of sandy beach. The all-day restaurant has a daily happy hour. rockwatersecretcoveresort.com

The Cove Lakeside Resort, West Kelowna The Regent Hotel, Revelstoke

The Regent Hotel, Revelstoke With roots dating back to the 1920s, when the hotspot tucked within the Selkirk and Monashee mountain ranges was an integral railway hub, this heritage hotel is one of the oldest family-owned and operated hotels in Canada. Modern rooms retain historic charm, and no two are alike. A fully equipped fitness centre, a hot tub and a steam room help you maintain your fitness routine while away from home, and breakfast is complimentary. Check out the B.C. wines and microbrews at the on-site 112 Restaurant. regenthotel.ca

You can live large here: rooms range from 700 to 2,400 square feet. Featuring five-piece chef-style kitchens with wine fridges along with living and dining areas, large balconies and high-end furnishings, these accommodations also have garden, mountain, or lake vistas. A package for B.C. residents comes with a complimentary view upgrade, so you can take in the scenery after a day of recharging with a deep-tissue massage at the spa, or in nice weather playing tennis, going out on a stand-up paddleboard on Okanagan Lake or hitting the lakeside putting green. While the onsite restaurant is temporarily closed, The Modest Butcher at nearby Mt. Boucherie Estate Winery is the new West Kelowna hotspot. covelakeside.com

Winter 2020/2021

Right Sizing

ENJOY 13 WORLD-CLASS GOLF COURSES ALL WITHIN AN HOUR DRIVE

Now Selling

New Townhomes Under $400K Privately situated along The Springs Golf Course in the Village of Radium Hot Springs, BC. This premier resort community has potential for owners to appreciate rental revenue from a professional onsite management team. All Play, No Work!

bighornmeadows.ca | info@bighornmeadows.ca | 1-888-766-9637 A Luxury Resorts West Development

ENJOY ENDLESS SANDY BEACHES RIGHT OUTSIDE YOUR DOOR

Now Selling! This Quietly Amazing Waterfront Resort Community is located on Resort Drive in Parksville, BC. Our onsite professionals offer 24 hour security and rental management services for a no-worry Vacation Home. Only 6 homes available...contact us today!

SunriseResortParksville.ca | info@SunriseResortParksville.ca | 866-812-3224 A Luxury Resorts West Development

Make a second home on the Sunshine Coast attainable with as little as five per cent down on a tailored mortgage.

JUST 5% DOWN ON A DREAM If you’re a vacation property or second-home buyer in the market for a property to enjoy year-round, or with potential for seasonal and short-term rentals, your financial needs may be quite specific—here’s what you need to know. By Tracey Rayson For many British Columbians, the dream of a lakeside, seaside or mountain home is more attainable than ever: especially if a yearround tenant suite, and/or the potential for seasonal and short-term rentals, are worked into the equation. We’ve uncovered mortgage solutions to fit your recreational-property or second-home lifestyle.

The Five Per Cent Rule Myette Raynes, broker and owner at North Vancouver’s The Mortgage Centre: Essential Mortgage Company (emcompany.ca), says not even the global pandemic has tempered the real estate market. “I’m doing mortgages for Canadians with vacation properties in the States who are now moving back home to B.C.,” says Raynes. “I used to do one [former U.S. homeowner mortgage] every couple of months and now I’m doing one a week.” Raynes says that people want an easy-drive getaway close to their primary residence, because it’s difficult to speculate if and when we will ever board planes again with our former ease.

Coming to Terms Here are a few keywords to understand financial products catering specifically to customers buying second properties gleaned from Sagen. •

•

Secondary home: New construction or a resale property, occupied by the owner or an immediate family member, that is winterized and lived in year-round. Vacation home: These properties need not be winterized, and since they are required to be open only for seasonal (summer) use, access roads need not be plowed in winter.

Note that investment, time-share and rental-pool properties are often not eligible for mortgage products catering to secondhome and residential property customers; check with your broker or lender for specifics.

Raynes herself, who lives in Squamish, has found the second-home financing market irresistible: she recently purchased a cabin at McNab Creek in Howe Sound, across from Gambier Island, through the Vacation/Secondary Homes program from mortgage insurer Sagen (formerly known as Genworth Canada). “Most people think if they buy a vacation home or a secondary home they have to put 20 per cent down, but Genworth allows qualifying homebuyers to put down as little as five per cent. So, with a price point of $300,000, for instance, you could be in your vacation home for $15,000 down.” The program categorizes homes into two types: Type A is for secondary homes, covering first and second mortgages, and Type B is for vacation homes, but first mortgages only. Type A mortgages can be up to 95 per cent loan-to-value (LTV), when the property value is less than or equal to $500,000, minus the required five per cent down. And property valued at greater than $500,000 but less than $1 million requires five per cent down on the first $500,000, with an additional 10 per cent down required on the balance of the home value. Type B mortgages offer 90 per cent LTV. Qualified homebuyers with a strong credit history can also acquire a single mortgage with five per cent down through The Lifestyle Advantage program, a similar product offering from mortgage insurer Canada Guaranty.

Income in the Equation The bonus, of course, is you can periodically rent out many vacation homes (always check with community or strata rules in a multifamily environment), with Airbnb or similar services, to help offset your bills, like property taxes and strata costs, or perhaps help meet your mortgage obligations; however, rental income cannot be used to qualify for most mortgage loans. Raynes is quick to point out that it’s rare for a lender to give a mortgage loan on a property that’s sole use is a short-term rental. “The lenders have yet to adopt the short-term rental income into their underwriting guidelines,” she says. “They may consider it as a business, therefore requiring [the income] to be reported on your income tax T1 general or in a corporation.” Winter 2020/2021

Right Sizing

Downtown Victoria storefronts. Photo: Destination BC/Tanya Goehring

Right Sizing

Winter 2020/2021

SMALL BUSINESS THINKS BIG While the pandemic continues to have worldwide repercussions, in B.C. the opportunity is ripe to acquire or start a business in one of the province’s smaller communities: here’s why. By Kate Robertson

With media and experts throwing around pandemicrelated terms like recession and economic crisis, the entrepreneurially minded see the upside in starting a small business now. “The smaller B.C. communities, in particular, embrace new businesses, especially if you’ve done your research and know the service or product is needed,” says Darrell Goertzen, a business advisor at the Port Alberni office of Venture Connect, one of six B.C. locations that help entrepreneurs and facilitate connections between business buyers and sellers. “You don’t need to spend on advertising to get noticed, you can be a big deal quickly and build a loyal following if you deliver good services.” You can also have a work-life balance in small communities that you will never achieve in a city. Today, more than ever, jobs are mobile and can often be done remotely, so you can live where you want, choosing affordability and lifestyle while finding work satisfaction.

Think Local An example of small businesses performing well during the pandemic are some non-restaurant food businesses, many of which are thriving as people look for local options and food transparency, plus all kinds of home-servicing businesses, from renovations to landscaping. “In some smaller B.C. communities, home services businesses are run off their feet and turning away work, as people spend time at home,” Goertzen says. Tourism and accommodation businesses have been hit hard in some communities, but there are also smaller communities that reported a good 2020 summer tourist season, as B.C. residents opted to tour their home province instead of crossing borders. To provide assistance when the pandemic hit,

Tourism Vancouver Island pivoted its entire organization to support the survival of the 3,000-plus tourism businesses in the region, through creating the Vancouver Island Coastal Tourism Resiliency Program. Today, the province-wide BC Tourism Resiliency Network is helping hospitality businesses adapt, by providing support in everything from financing, staffing and business transition to creating accessible industry training programs, like webinars on e-commerce and consumer trends. “We’ve seen businesses be successful at securing financial aid, partnering with other tourism operators to offer new tours and experiences, increase their digital readiness and marketing, connect peerto-peer with businesses in the same sector to discuss shared challenges and solutions, and more,” says Anthony Everett, President & CEO of Tourism Vancouver Island. “We are also aware of some tourism operators proceeding with opening a brand new business for the first time during the pandemic,” such as Bespoke Spirits House in Parksville, a craft distillery and tasting room that opened this past spring.

Space Race Leasing a retail space for your small business is a great way to jump in and get your feet wet without the commitment of buying a property. Smaller communities experience shortages of commercial real estate less often than big cities do, a boon when searching for suitable commercial or high-traffic retail locations. In communities like Kelowna, the pandemic has actually resulted in a surge of commercial real estate interest, dubbed the “suburb effect,” due to people wanting to leave the large, population-dense cities.

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“Kelowna has some incredible projects currently in the queue, which will give tenants more options and bring an elevated caliber of office real estate,” says Meghan O’Mara, vice-president of sales and leasing for HM Commercial Group. “There is a similar story with retail, as most of the new mixed-use projects have podium level retail space,” storefronts with builtin foot traffic from neighbourhood condo residents.

Pandemic pivots Although the pandemic is something completely different than we have seen in our lifetimes, the reality is that there are many business owners who have adapted their model or practices and are doing fine. “Even though some businesses are closing, there will always be someone else with a dream and a passion who will start up another time,” says Goertzen. “We see start-ups absorbing the lessons of the pandemic shutdown and focusing on more diverse business models and practices to ensure they will succeed.” Perhaps now is the right time, after all, to make your small business dream a reality.

Small-Town Small Business Tips Our experts offer the following insights to starting or acquiring a small business now. •

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TOP Home-servicing businesses have been booming during the pandemic. BOTTOM Smaller communities often embrace small businesses that understand the market.

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Secure an experienced commercial broker to guide you through the process of negotiating a commercial lease. Create a great website for your business, to connect you during times when customers are staying home and inside. Look for novel ways to deliver services and products, from mobile dog-grooming to pizza subscription services. Plan to pay more for good employees than has historically been the case, particularly in traditionally low-wage industries, because this demographic has been affected by government and immigration policies. Connect with small business resources like your local Chamber of Commerce, Community Futures and Venture Connect office; and register with your regional Tourism Association to access programs like the BC Tourism Resiliency Network.

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Green Emerald Estates is located in the most desirable area of Salmon Arm, BC

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GETTING THE DIRT ON BUILDING

Lakestone, Highlands South, Lake Okanagan. 24

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While an empty lot may initially seem to lack curb appeal, it can actually be an optimal starting point for building the home of your dreams. Here are some of the perks of building a home on an empty lot in your chosen B.C. town or small city. By Michael White

o a certain breed of aspiring homebuyer, no sight is as thrilling to the eye as an undeveloped patch of dirt, as ripe with possibility as a blank canvas is to a painter. An empty lot, on previously undeveloped land, is where a homebuyer arrives when “you want to build exactly what you want,” says Danny Mauro, a sales and design consultant for Discovery Dream Homes West. Karin Eger-Blenk, director of Blenk Development Corp. and marketing manager of Wilden Real Estate, says building a custom home has “always been popular. If you have the financial flexibility to create your home just as you envision it, completely adjusted to your needs, to your budget—of course, with the help of a home designer and your builder—it’s always the number one choice.”

The Cost of Perfection The custom home of your dreams is a unique creation, its every detail rendered to your exact specifications. Consequently, every one of those details—location, size, finishes, the number and type of contractors you need to employ, and much more—affects how much you can expect to spend. “There’s no cut-and-dry costing formula,” says Danny Mauro of Discovery Dream Homes West. “For instance, a bungalow has much larger costs for the foundation and roofing versus a two-storey, which doubles the space for the same relative costs. You would be looking at the high $200s per square foot for a modest plan; for higher-end builds, from the low $300s to as high as $500. And a build for the same house in Whistler will cost at least 50 per cent more than a project in Kamloops.” It may sound obvious, but the first step is to spare no detail when discussing your vision with contractors: most likely they’ve seen and done it all before, and can help keep your project well within budget. “The most important thing is to ask questions,” says Vanessa Graham of RE/MAX Kelowna. “Get comfortable with being able to speak freely [with your realtor and contractors], and work with them as a team rather than as separate entities.”

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The Builder Lots Here is what you’ll pay for a blank-canvas lot at popular developments around B.C.

As the cost of Lower Mainland real estate continues to rise, and recent global events entice longtime city dwellers to seek out more spacious surroundings, custom home-building in B.C.’s smaller communities is experiencing a surge of interest. While the cost of such a project can vary widely—based on factors like location, views, and proximity to waterfronts and city-based employment (see previous page)—a reasonable budget can net you a true dream home, with coveted features like a home office, outdoor living, plus more indoor entertaining and kids’ play space. If you’ve been contemplating following the trend, here are some important points to consider.

Place

Development

Price Range

Blind Bay

Shuswap Lake Estates

Starting at $119,000

Canmore, Alberta

The Courtyard

Starting at $514,000

Chilliwack

Elk Creek Estates

$699,900 to $740,000

Columbia Valley

Fairmont Hot Springs Estate

Starting at $55,000

Courtenay

Crown Isle

Starting at $315,000

Cowichan Lake

North Shore Estates

$169,000 to $229,000

Cranbrook

Legacy Lookout

Starting at $89,900

Fernie

Montane

Starting at $198,000

Golden

Granite Heights

Starting at $450,000

Hope

Sunshine Valley Grove

Starting at $109,900

Kamloops

Juniper West

Starting at $225,000

Kamloops

Tobiano

Starting at $199,000

Kelowna

Fawn Run

$400,000 to $650,000

Kelowna

Kirschner Mountain

Starting at $289,000

Kelowna

Tower Ranch

Starting at $269,900

Kelowna

Wilden

Starting at $234,900

Kent

Harrison Highlands

$618,000 to $698,900

Kimberley

Sullivan Landing

Starting at $60,000

Lake Country

Lakestone

Starting at $239,000

Lake Country

North Clifton Estates

$330,000 to $925,000

some of the most difficult places to build

Merritt

Bench

Starting at $104,000

a house in Canada—if not North America.”

Nanaimo

The Foothills

$329,900 to $659,900

Osoyoos

Reflection Point

Starting at $830,000

– Danny Mauro

Panorama

Panorama Mountain Resort

Starting at $174,900

Parksville

Wembley Crossing

Starting at $220,900

Pemberton

Sunstone

Starting at $309,000

Penticton

Sendero

Starting at $675,000

Penticton

The Ridge

Starting at $225,000

Revelstoke

Shelter Bay

$225,000 to $260,000

Rossland

Redstone Resort

$93,900 to $164,000

Salmon Arm

Green Emerald Estates

Starting at $249,000

Salmon Arm

Turtle Ridge

Starting at $135,000

Sicamous

Bayview Estates

$129,000 to $244,900

Sicamous

Parkview Estates

Starting at $110,000

Smithers

Ambleside Park

Starting at $125,500

Squamish

Holborn University Heights

Starting at $649,000

Summerland

Hunters Hill

Starting at $300,000

Sunshine Valley/Hope

Sunshine Valley Grove

Starting at $109,900

Vernon

Predator Ridge

Starting at $270,000

Victoria

Bear Mountain

$449,000 to $649,000

Windermere

Cooper Point Estates

Starting at $69,000

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Expect the Unexpected Although custom homes are a key part of his trade, Mauro admits that building from scratch is “not for the faint of heart.” For one thing, provincial building regulations demand diligence (and the guidance of a professional) to navigate. B.C.’s gorgeous landscapes are “arguably some of the most difficult places to build a house in Canada—if not North America,” because of seismic issues, flooding and fire considerations, Mauro says. “If you have a sloping lot that has the potential for water, rock or soil issues, you likely have to get [a geotechnical engineer] involved, and that’s $120 to $150 per hour.” Eger-Blenk recalls that when her father, Gerhard Blenk, began buying the Kelowna land that became Wilden’s masterplanned communities, he had to learn “the science of building on a hillside.”

B.C.’s gorgeous landscapes are “arguably

Fortunately, B.C. consumers have a wide range of building options to choose from, all of which boast certain advantages. Lots in master-planned communities are already fully serviced and designed to eliminate most construction obstacles, while an unserviced and/or rural lot offers the opportunity to build-in popular (and increasingly economical) off-grid options such as solar power. Gino Dal Ponte, a Kelowna-based realtor for RE/MAX, points out that building a custom home usually requires patience, during a period of a year or more, which can be rewarded in more ways than one. “Is it worth $150,000 to you to wait a year?” he asks. “When you buy a lot and build a home, you’re not subjected to any large [profit margins] or carrying costs; you’re really buying the home at barebones cost. You’re actually buying it at below-fair-market value, because once the home is built and it’s beautifully landscaped and furnished, it’s worth more money,” says Dal Ponte. This is a particular bonus for first-time buyers, who may have less to spend initially, and can accumulate greater equity throughout decades of ownership. A reputable realtor will help you demystify much of the process and can match you with other professionals. Being sure about your total budget is helpful for all involved. “With that information,” says Dal Ponte, “it’s quickly easy to ascertain whether we should be

“Our family’s Pan-Abode has stood the test of time, is still able to impress and is our most prized possession. We use it many weekends in the coldest of winters and we still get compliments on how cozy and comfortable our home is.” - J. PENDLETON

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showing you, say, a $275,000 lot or a $550,000 lot. We’ll usually introduce the client to two or three builders, and ask a series of questions to both the builder and the consumer. If you’ve never built before, you wouldn’t know about timelines and costing and budgeting. The more time we spend upfront, the easier it is for the consumer.”

Time is Money These days, a “wait and see” approach likely isn’t to your advantage. While properties in B.C.’s smaller communities remain very reasonably priced compared to the Lower Mainland, prices and building costs are consistently rising. Retirees and younger people alike are driving the trend, especially since the pandemic has freed many to work from home, meaning “home” can be just about anywhere. “People are flooding here in droves, wanting to... move to a quieter, cleaner place,” says Mauro, namechecking “Cumberland, Comox, Courtenay, Campbell River, Nanaimo—five years ago you could buy a lot in the low to mid-$200,000s. Now that same lot is in the $400,000s.” The trend is continuing across the island, as people (“especially younger families with money” says Mauro) cash out of Vancouver for towns with mountain biking at the doorstep, proximity to ski hills and other outdoor recreation.

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Like Mauro, Eger-Blenk is fielding an unprecedented number of inquiries, including from as far afield as Ontario and the U.S. “Consumers are aware that the possibility to build your own home close to a bigger city is becoming rare,” she says. Wilden, which is a short drive from downtown Kelowna, has sold out of lake-facing lots. “I never could have believed how quickly they went.”

“People are flooding to Vancouver Island in droves, wanting to move to a quieter, cleaner place,” says Danny Mauro. “Cumberland, Comox, Courtenay, Campbell River, Nanaimo—five years ago you could buy a lot in the low to mid-$200,000s. Now that same lot is in the $400,000s.”

The good news is, those seeking to escape the big city still have the opportunity to substantially upgrade their home and lifestyle, and perhaps even come out ahead financially. “It’s given people the opportunity to sell out of their market, capitalize on a pretty good profit on their home, come here and spend perhaps a half or two-thirds of that, and bank the rest,” says Dal Ponte.

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SILVER LININGS PLAYBOOK The pandemic offers unexpectedly rich opportunities to discover living, working and socializing closely at home. Here’s one seasoned traveller’s story of urban cocooning... and considering a permanent move to a quieter, small-town way of living. By Diane Selkirk

Take the time to enjoy your surroundings. Photo: Destination BC/Andrew Strain

There was a week in mid-April, when the cherry trees lining my street had reached peak blossom, when I realized that for the first time in years I’d paid careful attention to the arrival of spring. In the weeks that followed, I watched my neighbourhood gardens, noting how each flower that pushed up through the dirt brought us closer to summer. Experts have been telling us that one of the pandemic’s silver linings has been more time to slow down and, in my case, literally smell the roses. The gifts of the earth are even more remarkable to me because, until a couple of years ago, my family of three (plus our cat, Charlie) was meandering around the world on a sailboat. As we made our way from country to country, I had time to bake bread, do crafts, write long letters and read books. Because I’m a longtime travel writer, I’ve always been a master of working on the go, and on the spot—whatever spot I’m in. On this voyage, once I got over the guilt of not always feeling productive and busy, I relished having time each day simply to watch nature, chat with a grocery store clerk or cook a complex recipe.

WORK TO LIVE, NOT LIVE TO WORK This ability to live in a more measured and simplified way was one of the things I most wanted to bring home with us when we returned to Vancouver. One of the things I realized during our sailing trip was that being “too busy” is almost seen as a badge of honour in our culture. We embrace the kind of lifestyle where having to schedule a visit with a friend weeks or months in advance was “normal.” I didn’t want a life like this anymore. Reality kicked in though, and my days sped up. Our daughter moved away for school. I travelled a lot for work. My husband spent longer hours at the office. When we were free, our friends were busy. Life in the city had rapidly turned into the kind of existence where I didn’t feel like I could catch my breath. Even though our days were filled with good things—work, theatre, dinners, sports, meetings—they were just so full again. But as new empty-nesters, my husband and I eventually began thinking about escaping the city. We knew how wonderful a quieter Winter 2020/2021 Right Sizing

life can feel, and thought one might be possible somewhere like one of the Gulf Islands. We hoped that in a small community it would be easier to live more slowly and deliberately, while working from home and at a reasonable visiting and commuting distance, and we began looking into that kind of a lifestyle change.

Being “too busy” is almost seen as a badge of honour in our culture. We embrace the kind of lifestyle where having to schedule a visit with a friend weeks or months in advance was “normal.”

A FORCED BREAK Then March came. First, my husband joined me working from home. Then our daughter had to return from her school in Southern Africa. My travel stopped and our days began to stretch: it was as though a life without commuting, meetings, social events and other obligations was a few hours longer each day. Despite my fears for friends and family, and the worry I felt for the world, those new hours felt like a gift. There was time to start a garden, make jam, sew masks and write letters. Despite our little condo feeling like it was bursting at the seams with three people trying to work remotely (often in different time zones), we relished the opportunity to have bonus time together. We cooked leisurely dinners, went for long walks and bike rides and made regular use of our neighbourhood’s Little Libraries. I caught up on movies, books and sleep. As the restrictions started to open up, our life began to expand. Evening walks through our community began to include socially distanced visits with neighbours and the occasional take-out picnic. My

writer’s group began a physically distanced park meeting, where our catch-ups went well-beyond the work we were each doing and for the first time delved more deeply into how each of our lives was going. As the weeks return more and more to normalcy, I feel like the moment may come where I’ll want to hit the pause button and again slow things down. I like having time each day that belongs to me. Maybe we’ll put our plan to move to a smaller town back into high gear if and when our daughter goes back overseas to school. For now though, there’s still time left in each day to do nothing. When I call friends, more often than not, they still have time to chat. When I look ahead to the weekends, we have time to camp, or hike, or sail. Each day, as I walk through my neighbourhood, I’m still aware of the seasons. The leaves have turned russet and red as I write this. Some have fallen from the trees. The flowers from summer are gone and the cherry blossoms nothing more than a bittersweet memory: a reminder of the world before the pandemic, but also a message about all the beauty I miss when I live too quickly.

Sailing in Harmony Islands on the Sunshine Coast. Photo: Destination BC/Albert Normandin

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NOW IS THE TIME TO INVEST IN NORTHWEST BC If you're considering building your dream house, consider the Hazeltons. Nestled between Smithers and Terrace at the base of breathtaking mountain ranges, lives incredible potential for development and investment. The Hazeltons offer residential building incentives, a low cost of living, and access to a high quality of life. If you've considered building on your own piece of affordable land,Â now is the best time to build the home you've been dreaming of. Find out more at www.Hazelton.EcDev.org and www.NewHazelton.EcDev.org

Cool Towns for Winter Work + Play By Steve Threndyle

There are plenty of right-sized towns with co-working spaces, which serve as hubs where you can get productive and stay engaged in the local business communityâ&#x20AC;&#x201D;then hit the slopes all winter, plus have an active outdoor lifestyle year-round.

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Revelstoke Mountain Resort. Photo: Destination BC/Ryan Creary

Rodney Payne just might be the original digital nomad. Payne is the CEO of Destination Think, a branding firm which specializes in promoting tourism destinations around the world. He went into a Yaletown office in Vancouver during the early days of his agency, but high-speed internet and dependable mobile phone coverage has enabled Payne to live in Sun Valley, Idaho; Hood River, Oregon; and Pemberton over the years. Last December, Payne and his young family spent four weeks scouting out various B.C. mountain towns, hitting up Sun Peaks, Revelstoke, Rossland and Fernie. “Sure, we did a lot of snowboarding. But we were also looking at real estate and future educational opportunities for our daughter. We spent a week in each spot, staying at Airbnbs and making use of local co-working spaces to stay ahead of work.” The Mountain Co-Lab in downtown Revelstoke was particularly welcoming, and the Paynes liked the town so much, they ended up buying an “amazing” property just down the road from Revelstoke Mountain Resort. The Paynes are just one family proving that operating your own business within a short jaunt of one of B.C.’s world-famous mountain resorts is the very definition of living the dream. Grab a latté to go from a homey café in the morning, hit the slopes for a few hours of full-throttle cruising and then settle into your friendly co-working space for a few intensely productive hours before calling it another perfect day. Order some take-out, get nine hours of deep shut-eye and then do it all over again. The rapid rise of working from home and telecommuting, plus the ethos of start-up culture and the side-hustle, started changing B.C. work habits well before the global pandemic. As 2020 comes to a close, anecdotal evidence from realtors, economic development officers and school administrators indicates that growth is accelerating throughout the Sea to Sky, Vancouver Island, ThompsonOkanagan and Kootenay Rockies regions, where home prices are often still very affordable. (We’ve included the most recent BC Assessment values for your consideration.) With a La Niña winter (typically cooler with heavy snowfall, meaning deep powder days) predicted for 2021, that trend is likely to continue. But you’ll need support, especially if this is your first winter and you’re just trying to get established on the local business and recreation scene. Economic development officers and small-business incubators can assist in giving your great entrepreneurial ideas lift, while co-working space can provide security and high-speed connectivity, office machines and amenities plus professional meeting space and a network off which to bounce your ideas. In most cases, these offices and meeting rooms are stylish, hip (and often dog-friendly!) joints that you might not want to leave at the end of the day. “Hot desks” can often be rented hourly; refrigerators and lunch rooms with free coffee and tea; and special monthly networking sessions or educational seminars might be among the other perks. Co-working space pricing is a bit like gym memberships; day or hourly use will cost more, with monthly, yearly and multi-use memberships available. Many co-working spaces are accessible via smartphone key codes 24/7 for the ultimate in flexibility. Note that COVID-19 has affected access to some co-working establishments, especially those with so-called hot desk options. If you’re passing through town, check beforehand. Depending on their location, some co-working spaces can be quite small and day-use seats might be in short supply. Winter 2020/2021

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Whistler Most people come here to escape the workaday grind, to shred alpine bowls and quaff late-night cocktails. The permanent population of nearly 14,000 (which almost triples when seasonal residents and visitors are factored in) must cultivate serious side-hustles to pay the town’s rents. Whether you’re an entrepreneur or a visiting executive, Space Coworking (located in nearby Function Junction) will meet your needs. Whistler has a surprisingly robust startup culture, making Space the perfect hub if you’re considering a permanent move to the mountains. Its airy, open concept and industrial-meets-mountain aesthetic might just make you forget you’re in a resort town. Drive time to Whistler Village: 15 minutes. Assessed single-family home value: $2,033,000. workinspace.ca Whistler. Photo: Destination BC/Randy Lincks

Squamish Squamish has been a telecommuter mecca for the past three decades but increasingly, the town of around 20,000 people is home to designers, artisans, high-tech consultants and other professionals who are up for dawn patrol laps at nearby Diamond Head. The founders of Aligned Collective co-work space came together after noting overcrowded conditions at Squamish’s bustling cafes and restaurants, since taking a business call with the whoosh of a milk steamer in the background is not always professional. Located in Squamish’s downtown retail core, this is an open, clean, airy workspace with outstanding views of the Chief. Drive time to Whistler (Creekside): 45 minutes. Assessed single-family home value: $930,000. alignedcollective.ca

Aligned Collective.

Kamloops Located at the crossroads of three major highways (the Coquihalla, Trans-Canada and Yellowhead), this city of just under 100,000 has a thriving small-business scene, thanks to the efforts of Kamloops Innovation, a non-profit group that educates and encourages entrepreneurs, especially in technology. Its hot desks are currently closed during the pandemic, but dedicated office space for individuals and small teams starts at $350 a month. Drop-in rates are as low as $15 per day. Its expansive Blue Boardroom seats up to 60 for meetings and seminars. Drive time to Sun Peaks Resort: 55 minutes. Assessed single-family home value: $461,000. kamloopsinnovation.ca/coworking 36

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Kamloops Innovation.

Smithers Cosmopolitan by Nature

Photo: Grant Harder

Photos: Northern BC Tourism

In Smithers, youâ&#x20AC;&#x2122;ll find skiing, biking hiking, fishing, climbing and more world-class recreation options at your doorstep. After a day of work, our mountains, lakes and rivers will welcome you.

Alan Harris, Chief Administrative Officer

aharris@smiters.ca

WWW.SMITHERS.CA

Kelowna

Climber on ice climbing tower at Big White Ski Resort near Kelowna. Photo: Big White Ski Resort.

The OK Co-Lab is one of the oldest co-working spaces outside of Vancouver. It was formed in 2011, well before such spaces established themselves as go-to places for entrepreneurs and other solo freelance workers. With around 144,000 residents in the Central Okanagan and a major college and university close by, the OK Co-Lab is well equipped to handle the needs of budding entrepreneurs and start-up businesses and provides outstanding opportunities for mentorship from senior-level entrepreneurs who have recently moved to the Okanagan from elsewhere. Drive time to Big White Ski Resort: 55 minutes. Assessed single-family home value: $629,000. okcolab.com

Penticton Recognizing that moving to a smaller city and reinventing your business or career is a major transition, Cowork Penticton welcomes those from outside the region who might be â&#x20AC;&#x153;testing the watersâ&#x20AC;? short term before moving there full time. Office space and meeting rooms are one set of perks, but the real payoff is in connecting with other like-minded professionals establishing and growing their businesses. Penticton is a huge lifestyle draw: the city of around 33,000 offers not just winter skiing at Apex Resort but Okanagan and Skaha Lake boating plus bike and wine touring. Drive time to Apex Mountain Resort: 35 minutes. Assessed single-family home value: $469,000. coworkpenticton.com

Cowork Penticton.

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Move to the most sought-after location & residences in all of the Okanagan Valley 20 One-Level Private Executive Residences 1,300, 1,500, 1,700, & 2,200 sq.ft. Floor Plans All Residences Have 2 Oversized Outdoor Living Spaces Lake Views with Park & Mountain Vistas Quiet Concrete Construction Starting at $1.2M This is not an offering for sale. An offering for sale can only be made by way of a disclosure statement. The Developer reserves the right to make modifications and changes to floor plans, project design, specifications and features. Floor Plans and final suite sizes may vary. Apr 2020. E.&O.E.

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Revelstoke “Blazing internet speed” is something you won’t have to worry about if you set up your hot desk at the Mountain CoLab in Revelstoke. This 50-member co-working space boasts 1 gigabit fibre-optic download speeds, perfect for file-sharing large, complex documents. Doubtless attracted by the equally high-speed gondola and lifts at nearby Revelstoke Mountain Resort, professionals of all ages and from a broad cross-section of business expertise have discovered that your technological standards need not be compromised once you move to a smaller community, like this town that recent estimates peg at almost 15,000 residents. Drive time to Revelstoke Mountain Resort: 11 minutes. Assessed single-family home value: $509,000. mountaincolab.com

Golden Golden’s old courthouse has been converted into a co-working space with meeting rooms cleverly named the Judge’s Room and the Courtroom. Go-Lab, operated by the same group that runs the Mountain CoLab in Revelstoke, offers monthly memberships or punch-cards for five ($100) or 10 ($190) visits, plus daily drop-in options. Few towns in Western Canada are as scenic as Golden, with more than 8,000 residents, sitting at the apex of three mountain ranges: the Purcells, Rockies and Selkirks. Nearby Kicking Horse Mountain Resort is one of the true unsung gems of western Canadian skiing. Drive time to Kicking Horse Mountain Resort: 30 minutes. Assessed single-family home value: $353,000. go-lab.ca The old courthouse. Photo: GO-Lab.ca

Nelson This bucolic city of 10,000 in the west Kootenay was one of the first to recognize the economic value of restoring and converting heritage buildings into office space, so it’s no surprise that Jam Factory Coworking is located in a repurposed Jam Factory. Consistent with the Kootenays laid-back lifestyle vibe, a Jam Factory membership even includes free daily, guided mindfulness sessions in the downstairs meditation lounge. Of course, a few early-morning powder laps at nearby Whitewater Ski Area might assist with your business focus, too. Drive time to Whitewater Ski Area: 20 minutes. Assessed single-family home value: $471,000. jamfactory.ca Downhill skiing at Whitewater Ski Resort. Photo: Destination BC/Steve Ogle

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Winter 2020/2021

Work in beautiful Fernie, B.C.

Discover an incredible mountain lifestyle with a diversity of careers in the spectacular Canadian Rocky Mountains!

WorkInFernie.com

coworkingfernie.com

Cranbrook/Kimberley Dominated by pure Rocky Mountain majesty, these East Kootenay towns (with a combined population of almost 30,000 people, more than 20,000 of them in Cranbrook) bask in more than 2,000 hours of sunshine annually. Entrepreneurs in both towns can take advantage of the Ground Floor Coworking Space, a partnership between Community Futures of the East Kootenays and the Rocky Mountain Business Development Centre Society. Here’s one unique feature: Ground Floor offers a soundproof booth for taking those important business calls without getting side-eye from other workers. Drive time to Kimberley Alpine Resort: 34 minutes. Assessed single-family home value: $307,000. groundfloorcowork.ca

Kimberley Alpine Resort. Photo: Destination BC/Leigh and Spring McClurg

Fernie There are two co-working spaces in this picturesque town located in the Elk Mountain range: Fernie Common and 2nd Edition Coworking, a new space located in the Fernie Free Press building downtown. In winter, powder skiing is the big draw, while in summer months there’s world-class fly fishing, mountain biking and hiking. Fernie draws lifestyle refugees, seasonal workers and weekend warriors from across the provincial border in Alberta. The 2016 census reported that Fernie was the fastest-growing town in Canada, but don’t worry: with just more than 5,000 or so permanent residents—a population that almost doubles during ski season—there’s still plenty of room for growth. Drive time to Fernie Alpine Resort: 15 minutes. Assessed single-family home value: $553,000. coworkingfernie.com, ferniecommon.com

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Fat Biking on the Ridgemont Trail in Fernie. Photo: Destination BC/Dave Heath

TOWN OF PRINCETON, BC #DiscoverPrincetonBC The Bronze Sculpture Capital of Canada. Featuring 15 life-size bronze sculptures dotting the downtown core for you to explore along with the many amenities that make Princeton unique. Art galleries, a museum, library, restaurants, boutiques, and other shops and services will meet your need as you visit with us. For the adventurous, you can ride your ORV along the KVR to #ExplorePrincetonBC. Fish one of the many lakes within minutes of town, ski, golf, curl, hike, bike, skate, watch junior hockey and so much more in our year ‘round playground. Stop here once and you’ll learn why this is “Where Rivers And Friends Meet.” Princeton has a rich history as one of the oldest settlements in British Columbia having been established in 1860. Mining, ranching, and forestry all play a role in the fabric of the community along with First Nations peoples, a train robbing bandit, and Civil War General. Yes, there is a lot to learn about Princeton and we invite you to take some time to do that. Ideally located at the conﬂuence of the Tulameen and Similkameen Rivers and where two major highways intersect, Princeton is easy to get to and not far from any major centre. As the largest community in the Similkameen Valley, Princeton is the central hub for many diﬀerent services in the region. Maybe it is time for you to discover Princeton! Visit www.DiscoverPrinceton.ca

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Smithers This town of just over 5,000 (often called “Nelson North,” since its beauty and eclectic community draws a creative population) offers two uncut gems of B.C. skiing. Hudson Bay Mountain is the perfect family hill, with a colony of rustic cabins that speak to its down-home charm. North of town, the community-funded Hankin-Evelyn Ski Area has easy-to-access backcountry skiing and a restored fire lookout for overnight stays. The Community Futures Nadina office in nearby Houston provides business advice and loan support and a training room rental; the Smithers Co-Working Space offers desk and office rentals, free wireless internet, desk lockers and a boardroom. Drive time: to Hudson Bay Mountain, 30 minutes; to Hankin-Evelyn, 45 minutes. Assessed single-family home value: $315,000. coworkhere.ca

Hudson Bay Mountain Resort. Photo: Destination BC/Andrew Strain

Rossland No B.C. mountain town is steeped in ski history quite like Rossland: the town’s Red Mountain Racers ski team groomed national and Olympic team members including Nancy Greene Raine and Kerrin Lee-Gartner. Thanks to terrain expansion and improved services at Red Mountain Resort, Rossland and Trail’s well-priced housing and access to nearby airports in Castlegar and Spokane, the area is attractive to business start-ups. Community Futures of Greater Trail offers business development coaching, courses and financing options. Its South Kootenay Business Centre provides affordable short-term office space, boardrooms and wireless, plus presentation tech and business-grade fibre-optic internet in every suite. Drive time to Red Mountain: 15 minutes. Assessed singlefamily home value: $362,000. skbc.ca

Photo: Community Futures

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Fort St. John (Move up! you’ll love living here)

OPPORTUNITY

Low tax rates for business and attractive economic incentives for development mean Fort St. John is ‘Open for Business.’

304

Highest household income in BC, and ﬁfth in Canada

Sunny days per year (same as Kelowna)

31.4

$367,000

Median age

Average price of a single-family home in 2018

(11 years younger than BC’s median age)

Our natural resource industries create 2.27 million Canadian jobs.

Real people. Real jobs. Real life.

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If you are in favour of a strong economy, jobs, and clean energy – SPEAK UP!

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Oceana PARC Living gym.

THE RISE OF RURAL RETIREMENT The changing face of retirement living in small-town B.C. means you can start planning now, by settling into a smaller centre that meets your later-life needs—for about a third less than the big-city cost.

Luxe for Less

By Michelle Hopkins

Every day, 78-year-old Sylvia Lindaas laces up her runners and heads out for a brisk walk—not just once, but twice a day. When the gregarious grandmother was looking for a seniors’ residence, she wanted a modern, young and lively place to call home, in a community offering lots of outdoor activities. Four years ago, the spry senior left the big city behind to move to Kamloops. “I certainly don’t feel as if I’m in a seniors’ home,” Lindaas says, with a laugh in her voice, describing the Residence at Orchards Walk. “This building is uplifting, it’s fun, and I’m having a good time enjoying everything—especially my place.” She chose to move to a smaller B.C. city because, “It’s much better priced than the Lower Mainland and it’s a much newer residence.” Her contemporary, open-concept 670-square-foot apartment features a patio where she can safely entertain family and friends, overlooking lush gardens. A theatre, gym, salon, spa and restaurant are other perks of the residence.

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For lifestyle and financial reasons, moving to B.C.’s smaller towns is a growing trend amongst seniors. According to the 2019 CMHC Seniors’ Housing Report, the average rent in rural areas, such as the Kootenays or Vancouver Island, can be as much as 35 per cent less than in Greater Vancouver. That translates to an average of $3,632 a month for a one-bedroom package in the Lower Mainland, versus $2,760 a month on average for Vancouver Island or the Central Coast.

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Lina Saba, director of sales and marketing for Park Place Seniors Living, which owns and operates the Residence at Orchards Walk plus 29 others across B.C. and Alberta (as well as assisted living facilities), says Lindaas’ comments are echoed by many residents. “The appeal of small-town residences is its great lifestyle without the expensive price tag of the Lower Mainland.” Saba describes the Park Place lifestyle as one with “five-star resort-style amenities and services” that allows the 55-plus set to live rich and independent lives. For example, she says, “We host happy hours with a wine bar, talent nights similar to cruise ships, and in the restaurant, we offer à la carte dining with lots of options.” Landon Elliott, chief marketing officer for Golden Life Management Corporation, which owns and operates 16 seniors’ residences across the province (including in Cranbrook, Trail and Invermere), says today’s lively seniors’ residences defy all the sedate, blue-haired clichés. “We offer bike rides, lake trips, fundraising dances and food shows every six months, where we bring together residents from different villages to experience the cuisine from various chefs,” adds Elliott.

Quick Facts on Seniors’ Housing The CMHC’s 2019 B.C. Seniors’ Housing Report notes: • • •

324 new living spaces were added in 2019, 40% on Vancouver Island or on the Central Coast. In 2019, the average cost of independent seniors’ living space increased by 5.4% to $3,275. The vacancy rate in seniors’ living was 4.2% in 2019 (up from 3% the year prior).

At both Golden Life and Park Place Seniors Living residences, most rental suites come with an array of services, starting with menu-chosen or tailored meals by Red Seal trained chefs, as well as weekly cleaning services, activities, arts and culture programs, fitness centres, small theatres, computer rooms and much more.

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There’s a reason that B.C.’s small-town senior living communities are thriving. “Our seniors are active and looking to maintain a happy, healthy yet ‘lock-in-key’ lifestyle,” says Golden Life’s Elliott. “We call our residences senior lifestyle villages, as we see them as community hubs for entertainment and social gatherings, while providing access to the great outdoors.” Many of today’s baby boomers are searching for a place where they can make connections, away from the hustle and bustle of city living; for many, smaller towns fit the bill better than bigger, anonymous cities. PARC Retirement Living, which owns and operates five independent living residences across the province and has three more residences in development—in Coquitlam, Victoria and Kelowna—notes the same trend. “When many baby boomers are ready to retire, there is little chance that a sedate retirement community would make a suitable destination for them,” says Margaret Lucas, executive director of business development for PARC Retirement Living. “Our homes are a place you go to thrive and enjoy healthy lifestyles.” PARC residences not only offer restaurant-style dining with Red Seal chefs as well, they create unique opportunities to engage with others. “In Victoria, we will offer multi-generational interaction,” says Lucas. “We will have a licensed daycare on site and a music wellness centre.”

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In the end, one of the major reasons people choose to move to a shared housing community is social engagement. For Lindaas, the location, amenities and community all add up to the lifestyle of her choice. Her new home is modern, bright and a comfortable size and the friendships she has built are “priceless.” For those, like her, who value the charm that comes from living in a smaller city, the advantages and benefits of considering a newgeneration seniors’ residence are worth leaving the big city behind. For a comprehensive list of all senior residences in BC, go to RightSizingMedia.com/retirement

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For many Western Canadians, spending several weeks a year at a second home in the U.S. sunbelt is the highlight of a typical winter. Photo: Tim Correa

THE SNOWBIRD’S DILEMMA Keep, sell or change your business model? We look at the options confronting B.C. owners of sun properties in the U.S. By Catherine Dunwoody

Around this time last winter many B.C. residents were relaxing in the sunshine, possibly poolside with a nice frosty something-or-other in their hand. That’s the fortunate lifestyle many so-called snowbirds experience at their vacation homes in America’s sunbelt. A year later, still under global travel restrictions due to the pandemic, it’s a challenge for B.C. owners to spend time in their second homes in places like Arizona and California. At the same time, snowbirds from colder Canadian provinces such as Ontario or Manitoba are flocking to B.C., either to rent long-term or perhaps buy, making our provincial property market in areas like the Okanagan and Vancouver Island more robust than ever. So what does a snowbird do, with clipped wings? Do you sell your U.S. property and put the proceeds into lifestyle purchases, property or investments in Canada? Or do you keep the U.S. property and patiently ride out the pandemic recovery? We talked to two experts who offer solid advice at this unpredictable time. 48

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OPTION 1: SELL AND RE-INVEST Not being able to spend several weeks annually in your U.S. home is a dealbreaker for some. With land borders still closed between the U.S. and Canada, driving across is not an option and flying for some is still out of the question, health-wise. Listing your property, in what is presently a strong seller’s market, then taking those funds and investing them at home—in a Gulf Island cottage, perhaps, or building that sundeck you keep putting off at your primary residence—might be smart. David Sung, president of Nicola Wealth, envisions an owner of a $300,000 condo in Scottsdale that can’t currently be used. “They could sell it and invest it in a real estate investment trust; a well-structured pool could generate about six per cent income

per year, meaning $18,000 [annually]. So now instead of having a $300,000 condo that could potentially go up in value, they now have a basket of $300,000 real estate investments that also could go up in value, but generating $18,000 in income... you have $18,000 to go out and rent any place you want.”

OPTION 2: KEEP THE PROPERTY AND WAIT OUT THE RISK Riding out the pandemic and asking a trusted neighbour who lives in your U.S. community to keep an eye on your place, or hiring a property manager in your absence, may give you the peace of mind to keep your dream vacation home. Yet an investment property you’re not using ties up a chunk of your assets. Tricia Lehane, a realtor with Arizona Canadian Connection, RE/MAX Excalibur of Greater Phoenix/Scottsdale, has created educational workshops in every major Canadian city for years now, geared to those who are considering buying in America. She says, “I am also working on a campaign right now for Canadians who own homes there, who are not able to come down, to consider pulling out some of their money to Canada by refinancing it. RBC does it and it’s a very simple process.” That can allow you to access some of the capital tied up in your property now, without selling it, for other investment or recreational pursuits.

OPTION 3: KEEP THE PROPERTY AND RENT IT OUT

a long-distance landlord. Look into local restrictions regarding minimum and maximum rental stays as well. Sung gives another benefit to generating U.S. rental income. “For our clients who we help manage investments in the U.S., the cash flow generated from these investments is in U.S. dollars and used for the expense of keeping [the property] without the risk of currency conversion.” So: love it or leave it? Sung weighs in on this very personal decision, saying, “this pandemic creates a great opportunity to reassess your situation. Ask yourself if you are using the property enough? Do your investment dollars work? Is the capital you have in that property best left in that property and owning it, or would you be better taking that capital and redeploying it elsewhere?” Either way, your investment holds promise to help fund a right-sized future for you.

Covid-19 Health Insurance Are concerns around insurance holding you back from travel or your seasonal home? Not being insured fully in the U.S. should factor into your decision to visit. Though several Canadian providers have begun issuing travel insurance policies for south of the border, here’s what you need to know. • •

“The demand is going to stay strong for seasonal rentals. It’s a very positive way to go for Canadian owners,” says Lehane, referring to the 6,800 B.C. residents who own in Arizona. “With last summer’s fires in California, many people left their homes to rent here in Arizona,” she says of the U.S. domestic rental market. Ensuring you have a good rental agent should help with the anxiety around being

•

Experts suggest no less than $200,000 in travel-related health insurance. Some policies have a 21-day limit, while many snowbirds stay south for up to six months. All the major Canadian airlines are offering coverage with new bookings originating from Canada, but read the fine print first: there may be caps on coverage, length of stay and other limits.

Homes in Arizona had a strong rental season in summer 2020, despite the pandemic, due to displaced California residents who rented there. Photo: Tim Correa

Winter 2020/2021 Right Sizing

HIDDEN JEWEL: KIMBERLEY Adaptable as ever, the sun still shines on this Kootenay mountain town in the post-mining era. By Bob Keating

It was supposed to be the end of Kimberley, B.C. The mountain jewel, tucked in the Purcells with views across to the Canadian Rockies, was about to be left behind. In 2001, a Scottish band piped out the final shift from the “Sully” —the local nickname for the Sullivan Mine, the world’s largest underground lead-zinc mine—which gave Kimberley a reason to exist. Everyone expected Kimberley, a town so intrinsically built around mining it was named in 1896 after a famous diamond mine in South Africa, to roll up the sidewalks at the same time. Don McCormick and his wife Bev were just beginning to build a new house at the time. “We had a lot of people that suggested we were investing in a community that was essentially going to be a ghost town,” he chuckles now. But it didn’t. After floundering for a while at the beginning of this decade, Kimberley re-tooled to become one of the hottest destinations in southern B.C., both for tourists and new residents alike. The little ski hill above town was sold to private operators and was built into the truly international year-round Kimberley Alpine Resort, with an award-winning 18-hole golf course attached to it. World-class skiing, snowboarding, snowmobiling, fishing, whitewater rafting

View of The Steeples and the Rocky Mountain trench from Sunflower Hill outside of Kimberley, B.C. Photo: Destination BC/Kari Medig

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Winter 2020/2021

and kayaking are at the doorstep, and 1,977-acre Kimberley Nature Park, the largest incorporated urban nature park in Canada is groomed for cross-country skiing in winter and ideal for hiking and biking in the summer. Don McCormick’s housing gamble eventually paid off—as did his personal investment in the town, when he became mayor six years ago. “We are now one of the small communities in B.C. that has become a real magnet for people who want a high quality of life, but want access through the airport and Internet to the outside world,” says McCormick, who calls the 8,000-person town’s gigabit connectivity “almost unheard of.” McCormick says about a quarter of Kimberley’s residents are seniors, but the fastest-growing demographic is young families, flocking in mostly from Alberta, the Lower Mainland and other Kootenay towns. “All four schools we have are full, and the demand for housing is outstripping the supply we have,” says McCormick. Real estate agent Joanne Kitt says she’s never seen the market like it is today in Kimberley. She says the pandemic has resulted in buyers looking for more affordable living space in smaller communities, and this one fits the bill. Everything Kitt lists is selling, from quarter-million-dollar old miners’ homes that need some love to new builds that can sell for twice that much. “It’s crazy,” says Kitt. “I’ve never seen the number of people coming from the Lower Mainland in these numbers; there are a lot of families moving back.” And the old Sullivan Mine? It’s now known as SunMine, B.C.’s largest solar energy project—proving that the sun still shines on this adaptable little gem of a town.

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REALIGN Through this time of constant change, all of us are challenged to adapt to new realities. It also has become essential that we stay true to our values. In Wilden, we are putting more effort than ever into managing our ecological footprint. We are dedicated to growing this sanctuary that we call home mindfully, preserving its pristine beauty. We are also passionately engaged in research and progress towards sustainable home building and energy conservation. Buying in Wilden means investing in balance and lasting values. Visit Kelowna’s largest master-planned community and dive into all the possibilities. Currently selling: Single family lots and semi-detached townhomes, just a ten-minute drive from downtown Kelowna and the airport. Parade of Showhomes and Presentation Centre open daily from 1-5pm except Fridays · 1454 Rocky Point Drive · Kelowna Wilden Sales: 250.762.2906 · sales@wilden.ca · #WildenKelowna

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Articles inside

Hidden jewel: Kimberley

Seniors’ residences

Mortgage options

Dispatches

Publisher’s Letter

Boutique hotels

New condos: map and listings

Small Business Thinks Big

The snowbird dilemma