Powell River

Let’s talk about Powell River, British Columbia—a coastal gem that’s got a lot more going for it than just pretty ocean views. Tucked away on the northern Sunshine Coast, this town of roughly 14,000 folks offers a unique blend of rugged beauty and small-town charm that’s hard to find elsewhere in BC. For mortgage brokers and borrowers, it’s a spot worth paying attention to, especially if you’re working with alternative financing like we do at Tekamar Mortgage Fund. We’re all about lending where others won’t, and Powell River fits right into our sweet spot with a maximum loan-to-value (LTV) of 65%.

What makes Powell River stand out? For starters, it’s not your typical sleepy coastal village. This place has history—like the iconic Powell River Mill, once a major player in the pulp and paper world, shaping the town’s identity for over a century. Today, the economy leans on health care and retail, but there’s a lingering grit from its industrial roots that gives the area character. From a real estate perspective, this means a diverse buyer pool—retirees drawn to the mild Zone 8a climate, outdoor enthusiasts itching for trails like the Sunshine Coast Trail, and families seeking affordable single-detached homes, which make up over 70% of the housing stock. For brokers, that diversity can translate into creative deal structures; for borrowers, it means your property might appeal to more than one kind of buyer if resale comes into play.

Now, let’s get practical. Powell River’s housing market isn’t as volatile as the big cities, but it’s not without quirks. With a median age of 53 and a hefty chunk of seniors (over 30%), there’s a strong retirement vibe here. That can be a double-edged sword—great for equity lending to folks with solid home value but trickier if income qualification is tight. At Tekamar, we focus on equity over income, so we’re often a good fit for these scenarios. We’ll look at a deal up to 65% LTV, ensuring there’s a clear exit strategy, whether it’s a future refinance or a sale. Brokers, if you’ve got a client in this boat, give us a call to see if it makes sense; borrowers, if the banks are saying no, we might just say yes.

Another thing to chew on: Powell River’s lifestyle appeal boosts its resale potential. Oceanfront access, a warm climate for BC standards, and endless outdoor rec options make it a draw for vacation homes or retirement nests. But here’s an insider tip—smaller markets like this can take longer to sell if things go south. That’s why we’re cautious with LTVs, sticking to 65% max to protect our investors (all friends and family, by the way). We’ve been at this for over 20 years, and we don’t mess around with principal.

So, whether you’re a broker scouting for a lender who gets small-town dynamics or a borrower needing a non-traditional mortgage for a Powell River property, we’re here to talk. Tekamar’s tagline isn’t just catchy—“We’ll lend where other MICs won’t”—it’s our mission. Powell River isn’t Vancouver, and that’s exactly why we’re interested. Got a deal? Let’s make it work.