Perks of Investing in Waterfront Property
What makes waterfront properties in high demand? Perhaps the relaxed lifestyle, paired with the regenerative and calming effects of nature at your doorstep. Or maybe because waterfront property investment makes good economic sense. No matter the reason, Thompson Landing on Royal is ready to welcome you home to Kamloops’ premier waterfront living.
According to the Association of Interior Realtors, the housing market in Kamloops and District showed just 128 condo/apartment listings in February of 2023. The current inventory for condos and apartments remains limited, making Thompson Landing on Royal a rare find in today's market, especially with its direct access to the Thompson River.
A waterfront condo property possesses considerable value, yet some buyers assume this type of investment is out of their price range. With Thompson Landing on Royal currently under construction, homeowners can take advantage of pre-sale pricing. In this case, buyers have additional time to prepare for future payments, leaving less uncertainty for budget planning.
REALTOR® and Managing Broker Brendan Shaw of Brendan Shaw Real Estate (BSRE) shared that a monthly mortgage payment may benefit buyers compared to a monthly rent payment, which continues to be on the rise due to the current low vacancy rental rates in Kamloops.
“Based on the latest report released by Canada Mortgage and Housing Corporation, we can expect vacancy rates below 1% in some sectors of B.C.,” noted Shaw. “We’ve confirmed this by surveying a couple of property managers in
Kamloops who state their portfolios are experiencing 1% vacancy or less. This means more demand than supply, making homeownership, in some cases, more affordable than renting.”
Although, rental prices depend on factors like demand, location, amenities, and the age of the property; a development like Thompson Landing on Royal ticks three primary real estate boxes: value, location, and lifestyle. These factors, over time, are most likely to increase in value under the right conditions, especially as Kamloops continues to grow.
The development’s nearby amenities are projected to also grow based on the framework of the North Shore Neighbourhood Plan. Future homeowners can expect an increase in businesses and recreational opportunities that resonate with the continued growth of the community, making the lifestyle of the neighbourhood, even more desirable.
The financial opportunity of homeownership during the pre-sale phase at Thompson Landing on Royal will be the most affordable time to purchase. This luxury waterfront property is on track to be a sound long-term investment!
For inquiries and pricing contact
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