Should You Buy An Acreage Near Calgary Now, or Stay in the City?

Here's our honest advice: buy the acreage if your family's lifestyle fits it. If you want one, do it now, because right now the hardest part is finding the right acreage, not selling your city home. And if your weeks are packed with city commitments, stay put, or buy only very close to town.

I grew up on an acreage, and I'd love to get back to one. That's exactly why I'll tell you when it's the wrong move. After 19 years and more than 1,400 families, I've watched this decision go beautifully, and I've talked plenty of people out of it.

Why families want out

Most of the time it comes down to two things. They want space for the kids to roam, and they want more room between themselves and the neighbours.

Those are good reasons. Wanting space isn't the problem. Underestimating what comes with it is.

The two surprises nobody plans for

When families move out, the same two things catch them off guard every time.

Upkeep time. An acreage is a working property. Mowing, snow, trees, fences, outbuildings, water and septic. It doesn't stop, and it takes up your weekends.

Car time. Groceries, school, practices, appointments, work. It all means driving. A ten-minute errand in Glendale can turn into an hour-long round trip.

Neither of these is a reason not to go. They're reasons to go in with your eyes open.

Where the market is: the premium western arc

The acreage market around Calgary isn't one market. There's a premium arc, and then there's everything else.

The premium arc starts in the south, just north of Okotoks around Macleod Trail. It swings west through Priddis, up and around through Springbank, and over to Bearspaw. That's the hottest part of the acreage market.

The secondary market is acreages on the east side of town. They're worth a little less, but they're still very desirable. The premium product is that western arc.

Acreages are running against the overall market

The acreage market is doing the opposite of the broader market right now. Acreages in the premium arc that are priced right under $2,000,000 are selling like crazy.

For sellers, it's a much better market out there than in the city, especially compared with city homes in the $750,000 to $1,000,000 range.

If you're a buyer, that means competition. Good acreages don't sit around waiting for you to make up your mind.

Sell first or buy first? Do the hardest thing first

My rule is simple: do the hardest thing first.

Right now both sides are hard. Selling in the city takes work in this market, and finding the right acreage is competitive. In the end it's a personal decision, but if you want a premium acreage, the hardest thing today is probably finding it. Start there, and plan your city sale around it with a strategy that fits your finances.

Your due diligence checklist

If you didn't grow up on an acreage, there's a lot more to think about. The offer process involves far more due diligence than a city purchase. Before you commit, know the answers to these:

• Septic. Get it inspected. Is it a private septic system, or is the property on a community system?
• Water. Is it a private well or a water co-op? If it's a well, get it inspected and understand the water quantity and quality.
• Garbage and recycling. How does that county handle it? Some don't pick up at the end of your driveway.
• Internet. Is it hardwired, or will you need a satellite feed? If you work from home, this one can make or break the deal.
• Cell coverage. Check it on the property itself, not just in the area. Is the coverage great, or will you be in trouble?
• Your commute. Drive it at the times you'd actually drive it, before you buy.

What does it cost to run?

I won't give you a number, because there isn't an honest one. Running costs vary hugely from one acreage to the next. They depend on the size of the property, whether the water comes from a well or a co-op, and whether the sewage goes to a septic tank or a community system.

Don't assume. Ask how each property is serviced, and get the real costs for that specific acreage.

Who should stay in the city

We've talked a lot of clients out of buying acreages. The idea is wonderful, but once you break it down, it isn't always practical for the life they actually live.

Don't move to an acreage if:

• You aren't comfortable spending a lot of time in the car.
• You don't like planning your week in advance, including groceries and trips back into the city.
• You don't enjoy outdoor maintenance work.
• You want an easy lock-and-leave lifestyle, unless you're willing to pay people to do the work for you.

Acreage life rewards people who plan well and like working outside. If that isn't you, that's fine. Glendale, Wildwood and Signal Hill aren't settling.

What makes an acreage hold its value

Think about resale before you buy. The biggest value drivers are:

• How close it is to the city.
• The size of the home.
• How much land comes with it.

After that:

• City or mountain views can add significant value.
• Paved roads always help.
• Outbuildings add value, as long as they don't make the property too specialised.

That last point matters. A property set up only for horses doesn't appeal to most buyers. Buyers who aren't into horses see a lot of work to take that setup apart. These properties can take longer to sell, and they often sell for less. Buy the property you love, but know who your next buyer will be.

My honest advice

Acreage living can be absolutely amazing. I grew up with it, and I want it again.

But if your life keeps you in the city a lot, an acreage may not be for you unless you can find one really, really close to town. If you have a lot of kids with a lot of activities, think hard before you move miles and miles away from the rinks, fields and schools they rely on.

Do your due diligence. Know what your commute looks like. Know how much effort it takes to keep the place up every week. And make sure it fits your family's lifestyle, not just the picture in your head.

Do the right thing, the money comes later. That applies to where you live, too.

 

Thinking about selling in Calgary or on an acreage nearby? Call Ken at 403 207 1748 or email ken@krgroup.ca, and we'll give you our honest advice. Or visit krgroup.ca.