Many home owners today in Kamloops are wondering whether they should sell or rent. Homes are on the market for a longer period of time. More homes listings are expiring and many homeowners are getting frustrated with the recent decline in Kamloops real estate prices. I have heard numerous times in the past few months “I am going to rent my home for a year and sell it at a later time”. This plan works in theory, but when you dig deeper the rate of return on capital makes keeping the property a poor investment depending on the numbers.
Capitalization rate is a measure of the ratio between the net operating income produced by an asset (real estate) and its capital cost (the original price paid to buy that real estate) or alternatively its current market value. I have found a capitalization rate calculator that indicates “Rent” or “Sell” once you input the numbers for your property. This calculator makes the decision very straight forward. Unless you are receiving around a 5.7% rate of return, holding on to a property and renting it is not beneficial to you according to this calculation.
For up to date Kamloops real estate information and listings click here.
Sun Peaks Village, Kamloops, B.C.
Sun Peaks is Canada’s second largest four season resort. Located 4.5 hours from Vancouver and 45 minutes north east of Kamloops. Sun Peaks is perfect for the whole family. There are a number of flights to Kamloops airport in the winter from Vancouver, Seattle and Calgary with shuttles from the airport to the mountain. There is 3,678 acres of diverse terrain, with 122 runs on three mountains. Sun Peaks has a small ski through village with numerous retailers, hotels and restaurants. Sun Peaks is known for it’s dry powder snow that is easy to ski. For people who don’t ski or snowboard, there are other activities to enjoy such as snowshoeing, dog sled rides, ice skating, snowmobile rides and snow tubing.
During the summer months there are many events and activities for the whole family. Mountain biking is very popular at Sun Peaks during the summer. Other summer activities include hiking, golfing, horseback riding, bungee trampoline, canoeing and kayaking, trail rides, tennis and swimming.
Sun Peaks visitors have a lot of choices when it comes to accommodations. From rental chalets and homes to hotel rooms, there is something for everyone. Real estate in Sun Peaks is very affordable in comparison to other ski resorts in British Columbia. Lots, apartments, townhouses and chalets are all available for every buyer on any budget. Many homes have ski-in, ski-out convenience. Large exclusive homes are located just outside the village with varying lot sizes.
Whitecroft is a small neighbourhood that sits at the foot of the mountain. Upper Louis Creek Road, Cahilty Crescent, Cahilty Place and McGillivaray Creek Road make up the small community of Whitecroft. Whitecroft is part of the area known as Heffley. Many people that are interested in Sun Peaks real estate, but choose to be out of the village area choose to look at real estate options in Whitecroft. The homes in this area are more affordable with more square footage in comparison to the homes in Sun Peaks. It is a five to ten minute drive from Whitecroft to the hills of Sun Peaks.
Sun Peaks is still a relatively small development in comparison to other resorts. This is why it is very popular with families. A lot of people are staying away from larger resort towns because of the large crowds and long waits for ski lifts, restaurants and other amenities.
Barnhartvale is a beautiful area perched above Dallas and the Thompson River Valley. Barnhartvale is 15 minutes south east of the Kamloops downtown core. The views from many Barnhartvale homes are amazing.
Properties & Real Estate
Barnhartvale mainly has a mix of single family homes, ranches, farms and acreages.
There are not any multi-family residential units in this area. The single family homes vary in size and style. The main road that runs through Barnhartvale is Barnhartvale Road. Pratt Road and Todd Road run through the western portion of Barnhartvale where more of the residential homes on smaller lots are located.
Barnhartvale Road is the main feeder road for most of the acreages, farms and riding stables in the Barnhartvale area. Real estate in this region varies a lot because of the terrain. Some areas of Barnhartvale sit in flat valleys and open fields, while other areas are up high on steep hills and sometimes cliffs. The view that many home owners have from their properties in Barnhartvale is priceless.
The main residential area of Barnhartvale runs along Todd Road. Most homes in the area are on lots ranging from 0.15 of an acre to over a half acre. There are a few small acreages scattered among the residential area of Barnhartvale. Click here for a map of the main residential region of Barnhartvale.
Most of the executive homes are located in the furthest West area of Barnhartvale on Uplands Court, Uplands Drive and Woodland Court. This area also has been a region that has seen some new homes come in with the last home being completed in 2015.
There is a region of Barnhartvale that has a number of modular, single level homes. Klahanie Drive, Freda Avenue and Shelly Drive are the three streets where you will find these homes. These homes sit on lots often a little smaller than a quarter acre, have beautiful views and nice yards. Due to their location the City of Kamloops does not allow owners to dig any foundations due to the type of ground they sit on. This is why there are predominantly modular homes in this region.
Todd Road has a few acreages that house properties with horses and animals. The nice thing about the Todd Road acreage properties is they are on city services such as water, sewer and garbage collection.
Pratt Road, Blundell Place and Erin Valley Crescent intersect with Todd Road. There are a number of small acreages along these streets that range in size but are often under 10 acres. There are a number of hobby farms and properties with large workshops in this area due to the property size. These homes benefit from some city services but all depends on their location along the route.
Homes that you find along Meadowland Crescent North and South are also larger residential parcels or small acreages. The nice thing about this area is the school and public transportation is within a couple minutes walk.
There is a small grocery store in Barnhartvale. The newest shopping is now located at the foot of Todd Road on Dallas Drive. There is a grocery store, liquor store (located in the Petro Gas Station), a Subway Restaurant and smaller retailers. Tumbleweeds Pub/Restaurant is also located in Dallas on Dallas Drive at Bogetti Road.
The next closest shopping is in Valleyview, a five to ten minute drive. It has a few stores such as Save-On Foods and Shoppers Drug Mart.
The larger box stores and major shopping areas are located approximately 12 to 20 minutes from Barnhartvale, in Southgate, Sahali and Aberdeen.
Barnhartvale is surrounded by nature and there are many trails for hiking and biking in the area. Due to the number of acreages and farms people also enjoy trail riding on horseback. There are not any recreation facilities in the area. The closest would be the Tournament Capital Centre in Sahali/Southgate at Thompson Rivers University or the YM/YWCA in Downtown Kamloops. There are many playgrounds in the Barnhartvale area and there is also tennis courts on Todd Road.
Barnhartvale is serviced by BC Transit buses on a regular schedule. Click here to view the BC Transit website.
Highway #1 is easily accessible to Barnhartvale as it runs parallel to Dallas Drive. From most residential areas of Barnhartvale the highway access is a five minute drive.
The Kamloops airport is approximately 30 to 35 minute drive from Barnhartvale or about 28 kilometers north west.
To view current listings for the Barnhartvale area clickhere.
To read more about other neighbourhoods click the link below: