VERNON VISTAS
Welcome to Turtle Mountain
Vernon as a whole is quickly becoming the destination preference in the Okanagan, says a sales and marketing veteran.
“It is up to 20 per cent less expensive than Kelowna, has only one-quarter of Kelowna’s population, has large city amenities including the Jubilee Hospital, and boasts three lakes and the famous SilverStar resort,” says Paul Betts, president of GAP Marketing, who worked in Calgary’s housing sector for many years.
In addition, the British Columbia government has recently announced that the speculation tax imposed on non-permanent residents in various parts of the province has been expanded to include Kelowna and West Kelowna. This tax is $5 for every $1,000 of value (0.5 per cent of the property value) and will quadruple for foreign investors in 2019. For Canadian citizens and permanent residents who don’t live in B.C., the tax will double next year to 1 per cent of the property value. A $400,000 home owned by an Albertan, for example, will require an extra $4,000 in taxes annually from 2019 on, unless it is rented out for half of the year. Figures from the City of Vernon show the city is expected to grow as much as 1 per cent in the next three years with more and more business and employment opportunities. Turtle Mountain is a masterplanned community in the heart of Vernon and is situated in the closest proximity to the city centre and has permanent residents, says Betts, who has a four-year involvement with Everton Ridge Homes. “Two-thirds of the residents of the area have relocated from outside the Vernon area. Of the six most recent purchasers, three are from Alberta relocating on a fulltime basis, two are from the Lower Mainland and the other is relocating within Vernon,” he adds.
Most Turtle Mountain residents are retired, although working professionals and families are being attracted in increasing numbers, says Betts, adding that Adventure Bay and SilverStar would be more seasonal or part-time residents and Predator Ridge is lifestyle-oriented with a mix of permanent and seasonal residents.
“Each area has its own attractions, and the buyers we see are location-driven first and foremost,” Betts says.