13 Apr Snowbirds in the Canadian Mediterranean
Our Snowbird owners left last week migrating back home after spending the first quarter of the year in the relative tropics of Vancouver Island. These are generally people who love the idea of living here, but have roots at home that cannot be severed… their homes, family and friends are what they return to every year. But they still find it a hoot to send home photos of themselves golfing and relaxing on their decks when its -28 back at home.
Most of our owners are not from the “rich and famous” crowd. They worked hard to get where they are and deserve some rewards at this stage in their lives. They didn’t get where they are by making foolish decisions and squandering what they’ve earned either. They know value when they see it and they use safe, secure investments to shelter what they’ve accumulated. Unfortunately “safe and secure” generally means a meagre return. They also see other benefits to wintering on Vancouver Island, as opposed to “going south”. The biggest one is our medical system combined with their present and future health issues. After a certain age, “pre-existing conditions” are pretty well guaranteed (and not covered).
Real estate has been a solid investment for them. Their home is worth more than they paid for it and when they look back they can say the same for other homes they owned and sold in the past. The market in Parksville isn’t based on a resource or manufacturing and doesn’t have the ups and downs they bring to an area. The attraction in Parksville is the temperate climate and extraordinary natural beauty of the area. As a result, real estate keeps increasing in value.
Fractional real estate has been the perfect solution our owners. They spend three quarters of the year at home and use their “Quarter Share” at Sunrise Ridge to escape the worst of the winter. When they add up the cost of maintaining their ownership, it costs them less than $70/day to stay in a 3 bedroom waterfront residence like this one. Could they simply rent something like this for less? Since we’re fantasizing why not take it to the extreme. There are still people who believe there are house sitting opportunities on the island that puts you in a multi-million dollar waterfront home owned by a wealthy family who will pay you a couple of thousand dollars a month to look after their home (well…. one of their homes). Or maybe you’ll win the lottery and can buy your own waterfront villa!! People who harbour these fantasies are usually just giving themselves a reason to stay home.
There are still a few Snowbird Quarters (and a couple of Eighth Shares – 6 weeks) available at Sunrise Ridge Waterfront Resort. They are priced similar to what most people pay for a new car. That’s right, no more than a new car. It could be anything from an economy car to a luxury vehicle, but if you can afford a new car, you can afford ownership here. And it probably costs less to maintain your ownership here than the car!
If you can picture yourselves relaxing here next year, now is the time to do something about it. If you have any questions, give me a call…..
Fractional Sales Manager