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Westcoater
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# Posted: 3 Mar 2017 05:26pm
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I have 3 lots to sell on an island complete with recent survey and water licence . The island has a total of 21 lots around 1 to .87 ha each in area . There are no improvements done to any of the lots ,basically raw land . The land is boat access only with each lot having to have a private dock on saltwater .
Question What improvements if any would make the lots sell? They have been on the market for over 5 years .[/quote]
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littlesalmon4
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# Posted: 3 Mar 2017 08:22pm - Edited by: littlesalmon4
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Where are they and how much?
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bldginsp
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# Posted: 3 Mar 2017 08:31pm
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Many people want the basic infrastructure in place when they buy, so all they have to do is build a house/cabin. Developers will cut a pad for a house, put in a driveway, and septic and well, electrical if available.
On an island like that I bet you would have trouble putting in a standard septic system, if at all possible. Usually islands like that are big rocks with little/no soil. Have you checked to see if it is possible? Are composting toilets allowed?
Water may be difficult too. Even if you could get a drill rig out there you would just hit salt on a 20ha island. One possibility is that you could build a rainwater collection system for all three lots to share. Depending on rainfall in the area, a 200 square ft roof collect enough water to keep a 2500 gallon water tank full.
Have you built a dock? Perhaps a single dock for the three to share.
Water, septic and access are what will attract buyers.
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Nate R
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# Posted: 3 Mar 2017 09:13pm
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5 years? To me, that says the price is too high.
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Wendigolake
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# Posted: 3 Mar 2017 10:01pm
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Where my cottage is, water access only cottages take a long time to sell. People these days seem more interested buying cottages that they can drive right up too. There have been some real nice cottages on our lake that have been real slow to sell because people don't want to have to take their boat up to the cottage.
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Westcoater
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# Posted: 4 Mar 2017 12:00am
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The lots are 20 miles from Port Alberni BC ion Cheeyah Islandand have been listed for $190,000
There is water to the lot licenced to 250 gals/day
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Jebediah
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# Posted: 4 Mar 2017 06:48am - Edited by: Jebediah
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Most people in that area already have waterfront homes....I would rather live on a floating house in that area. Another factor is the rainfall and a dock system for the ocean would cost a fortune. Not to mention the storms that would really hamper traveling back and forth. You would need a fairly large boat in those waters. 190,000 goes a very long way in the interior for lake front. I've seen ocean lots out there, 100' cliffs down to the water, not sure if this applies to your lots. Best of luck and if you're not using use a real estate agent use one they know people.
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Littlecooner
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# Posted: 4 Mar 2017 07:35pm - Edited by: Littlecooner
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I did snoop around the internet to see where your property is located. Generic thoughts, it takes a special person to purchase one on these lots on an island. the cost of construction can "go through the roof" for the improvements because you only have boat access. Your island looks very well protected and I would think in a great spot. I see those other developed properties for sale.
OK, what to do? I would think, pick the best of the three lots and pay the price to develop a boat dock, pier on the lot. This way, you or a listing agent has access to "show" the lot to potential buyers. I live a long way away, on a lake and the better realtors put people in boats and show property from the water, which is the only way to show your island property. I would also suggest (this happens here) that you clear the underbrush away from this lot with the dock in place. 40+ years of dealing in this type of making a living has proven to me that most people do not have the ability to envision what a property would look like after it is developed. The can not see the house in place, can not see the boat slip in place, etc. I am a designer of property as part of the chosen profession and it has amazed me that people can not see what to do with a property. This is what I would do if I needed to move these lots or a least one of them.
Ok, lets get bold, just build one of those small A frames there and a boat slip and put it on the market. no imagination needed, Mr. can not see buyer. Here it is, ready to move in and take possession.
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Westcoater
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# Posted: 5 Mar 2017 05:16pm
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I have a cabin on the island with a dock so showing the properties is no problem ,so I have just lowered the price and will list myself
https://nanaimo.craigslist.ca/reo/6031008450.html
I have been in business in the area for many years and will be able to assist a buyer with the improvements.
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