Lakeshore

2005/06/19 Originally published in the Vernon Morning Star.

As our thoughts turn to summer fun, it is difficult not to dream of becoming a lakeshore owner. We in Vernon, are most fortunate to have two extraordinary lakes to choose from.

Kalamalka (meaning the Lake of Many Colours) has a world class beauty and is closest to the city. Historically, this lake has fetched the highest prices.

Okanagan Lake is the larger and more developed of the two lakes. Ownership on this lake gives you the bonus of being able to boat on a 90 mile long lake right from your dock. This lake touches three cities, Vernon, Kelowna and Penticton and picturesque points in between, like Okanagan Centre, Fintry and Summerland.

Finding a building lot on either lake is much more challenging. I think it is safe to say that the day has arrived for buyers to buy up older lakeshore homes and then remove the houses to create places for their new home sites.

With this increase in lakeshore property values, property taxes have risen as well. So, these are rapidly becoming properties for only wealthy people. I guess it was just a matter of time.

So, where is it going from here? We are almost at the end of the supply of developable lakeshore land. This pushes prices upward as the laws of supply and demand will always apply.

Jane Field works with RE/MAX Vernon. Jane has over 30 years experience in the Real Estate business. To suggest topics for future articles or to ask Jane questions, email her or call 503-3755.

RE/MAX Vernon | 250.503.3755 | Toll free 1.888.503.3755 | 5603 - 27 ST | Vernon | BC | V1T 8Z5 | Canada

Okanagan Lakeshore Owner Rights 2005-07-03 2005/07/03 Originally published in the Vernon Morning Star.The lakeshore boundary of a lakeshore lot is generally to the normal high water mark. This is a natural boundary. Any land that is between the high water and the lake itself is called the foreshore.... [Read More]