To Buy or Not to Buy – That Is The Question
There’s a new trend among Canadian Millennials that might come as a surprise to some but makes complete sense in an era focused on greener lifestyles and a return to more sustainable living. The trend is this: Canadian Millennials are finding their way out of urban areas and looking more intently at buying recreational land, particularly in remote areas like Alberta and bare land for sale in Rockyview. With new lifestyle focuses like modular or tiny houses, recreational vehicle living, or other types of housing that does not require as much of a significant income or down payment, such recreational land use is a trend that seems here to stay – particularly during downturned markets due to COVID-19.
Some of the movement toward recreational land has to do with rising home prices in larger, more urban, and densely populated areas. For example, according to this article in Western Investor, declining residential resale prices in Calgary will “stabilize” by the end of 2019 and then rise slowly in 2020 and 2021, as predicted by the federal housing agency. When the global pandemic is not affecting economies to such an extent, these rising prices might change, but it seems we might be riding that wave for some time. Meanwhile, land auctions in Alberta offer Millennials the opportunity to look for rural, extensive land tracks that provide the area and space to practice sustainable living or multiple families modular housing for less (or shared) costs. It’s a new way of living that is taking over and you’d almost need to experience it to understand the upside.
This article from the New York Times shows how some Millennials are putting a lot of thought into where they want to invest in land, particularly as it relates to surrounding natural resources. Such resources make farms and ranches for sale in Alberta prime locations for forward-thinking buyers, particularly those focused on decreased resources in the coming years due to climate change. According to the article, Millennials have studied maps and researched areas that will be less likely to be affected by climate change devastation, or that have more supply of natural resources than what is offered in more urban, densely populated locations.
Whether this involves buying undeveloped land or auction properties offering extensive tracts for a discounted price, some are approaching the concept from the mindset of a survivalist. This might involve looking for a fertile area to grow their own food, land that is on high ground, or land-based resources to make their own electricity, including solar power. Many Canadian Millennials are also looking into the concept of shared space, allowing multiple individuals or families to live off of acreage and share the work involved to keep it operational as a farm, ranch, or similar property.
At Hansen Land Brokers, we have more than 30 years’ experience helping to match the perfect acreage in Alberta with landowners wishing to enjoy the beauty and splendor of Western Canada. Contact us today for information about auction properties or recreational land for sale in the province. We’d love to share our expertise to match with the exact property you are looking for!