Home News On British Columbia’s Coast for $2.5 Million: House Hunting in Canada

On British Columbia’s Coast for $2.5 Million: House Hunting in Canada

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this 4 Bedroom, 3 Bath Home Located on nearly 5 acres of hilltop land in Half Moon Bay, a coastal village in the Sunshine Coast region of British Columbia, just west of Vancouver. Completed in 2020, his 4,300-square-foot home overlooks the Salish Sea and various islands in the Strait of Georgia.

The sellers, William and Shirley Van Esch, said while preparing the top of the hill for construction, “I found a place where the rock is subducting, and this is a nice wine. I thought I might become a seller,” he said. Said. They gave their instructions to the architect, requesting a kitchen on the top floor, an elevator to the wine cellar, and a guest house connected to the main house by a corridor.

They also preserved a small natural pond on the property and built a ramp over it leading to one of the house’s entrances. “Every spring we hear frogs croaking, and we love it,” Van Esch said.

The main entrance is a single blue door on the ground floor of the guesthouse, which also has a garage for two cars. A staircase leads to a window-lined breezeway with views of the water on one side and the forest on the other. A connecting corridor leads to the upper floors of the main building.

The main house’s open living area features a fir pointed ceiling with skylight, fir pillars, polished concrete floors, a freestanding fireplace, and large windows facing the ocean. The kitchen features a 9-foot tall island and counters made of Dekton, a highly durable material that requires minimal maintenance. Glass doors from the living area lead to a large deck.

A pull-down staircase in the kitchen leads to a loft space that the seller calls the “Away Room.” There is a cozy window seat overlooking the water.

Off the living area, the primary bedroom suite has a custom platform bed and private deck. “When you wake up in the morning, you can see straight across the Salish Sea to Vancouver Island without even lifting your head,” Van Esch said.

A walk-in closet behind the bed is accessed from hallways on either side. The ensuite bathroom has a deep soaking tub, shower, wash station with trough sink and a two-sided medicine cabinet suspended above.

The ground floor of the main house, accessed externally via a ramp over the pond, includes a covered front porch, office, family room with separate fireplace, second bedroom and bath.

Van Esch said the wine cellar has a wooden bar made from chunks of cedar found on the property. The guesthouse above the garage has an open living area with kitchenette and a loft bedroom with a bath. The suites have private entrances and can be locked from the main building and used as short-term rentals, said Gina Stockwell, senior vice president of sales for publicly traded Sotheby’s International Realty Canada.

Rural Half Moon Bay is on the southern tip of British Columbia’s Sunshine Coast, adjacent to Secret Cove, a marina and resort, Stockwell said. The facility is within a 20-minute drive of He Sechelt municipality with its supermarkets, restaurants and hospital. The Sunshine Coast can only be accessed by ferry or seaplane.of Ferry Terminal Langdale, at the southern end of the coast, is approximately a 50-minute drive from the property. Vancouver’s Horseshoe Bay is a 40-minute ferry ride. A seaplane from Vancouver landing at Sechelt.

The Sunshine Coast is located in the southwest corner of mainland British Columbia and stretches for 110 miles from Howe Sound to Desolation Sound. The region includes the traditional territories of Squamish, Sechelt, Thriamon and Klafuth, with a population of approximately 50,000.

The mountains, lakes, coastlines and coves of the region are a paradise for those seeking outdoor recreation. Re/Max City Realty sales her agent, Aliese MacKenzie, said: “About five years ago, we saw an increase in foreign buyers. That’s when prices started to skyrocket.”

Sue Scott, sales advisor at Engel & Volkers Vancouver, said the pandemic has made the area even more desirability as “Vancouver residents who were stranded in condos fled to larger properties and the ability to have home offices.” I raised it.

The median selling price for single-family homes in the Sunshine Coast area was just over C$1 million ($726,000) in the first six months of this year, up 22% from the same period last year. market report From Remax Canada. According to Stockwell, the Sunshine Coast has become one of the most affordable neighborhoods in the Vancouver metropolitan area.

Prices have flattened in the region since early 2022, according to the report, despite a “downtrend in the Greater Vancouver housing market.” This is partly due to the steady rise in interest rates this year, which has cooled the market. Single-family home sales in the Greater Vancouver area were down across the board through June this year, but not as much as in outer areas like the Sunshine Coast (down 25%), but more like East Vancouver (down 40%). In your international pocket.Remax Canada.

The nearby town of Gibsons is the most “elite area,” Mackenzie said, because Langdale’s proximity to ferries drives prices.

The area is currently facing a housing crisis and a shortage of rental properties, making it difficult for business owners to find enough workers. “Many businesses are struggling and are buying housing to house their employees if they have the means,” she said.

Inventories in the Sunshine Coast area, while still relatively low at 277 active listings, increased 73% from September last year to September this year, according to Greater Vancouver Real Estate Commission data.

Foreign buyers make up a very small share of the market in the region, according to the agent, as the majority of buyers are from Vancouver.

Most foreign buyers are from the United States, they said. Mackenzie said the region is also attracting buyers from China looking for business investment.

The Canadian government plans to ban foreigners from buying homes for two years starting in January. The ban is part of an effort to ease pressure on home prices from foreign investors. According to the government’s finance departmentTemporary employees and international students are not eligible.

Foreign buyers in most areas of British Columbia are currently required to pay an additional fee. 20% tax about buying a house. However, Sunshine Coast purchases are exempt from that tax, the agent said.

“Buyers from California came here to buy, especially since there is no foreign buyer tax,” Scott said.

Buyers and sellers hire their own attorneys or notaries to process the transaction. Since most Sunshine Coast properties are not connected to municipal sewers, purchases require an inspection of the purification system, Mackenzie said.

English French; Canadian Dollar (1 Canadian Dollar = $0.73)

All purchases are subject to property transfer tax. The tiered rate starts at 1% of the fair market value up to CAD 200,000 ($145,000) and increases to 3% for any portion of the value above CAD 2 million ($1.45 million). Any portion over 3 million Canadian dollars ($2.18 million) is subject to an additional 2% surcharge.

The annual property tax for this home, if classified as a second home, is $6,301 CAD ($4,575). Stockwell says the rates are lower if it’s your primary residence.

Gina Stockwell Sotheby’s International Realty Canada604-989-8235, sothebysrealty.ca/en

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