A four bedroom on five acres outside of Vancouver
$2.54 MILLION (3.499 MILLION CANADIAN DOLLARS)
This four-bedroom, three-bathroom home sits on nearly five hilltop acres in Halfmoon Bay, a coastal village in the Sunshine Coast region of British Columbia, just west of Vancouver. The 4,300 square foot home, completed in 2020, overlooks the Salish Sea and various islands in the Strait of Georgia.
Sellers William and Shirley Van Esch said while preparing the top of the hill for construction they discovered “a place where the rock was dipping down, and we thought, hey, wouldn’t that make a nice wine cellar,” Mr. Van Esch said. They gave this instruction to their architect, along with a request for a kitchen on the top floor, an elevator to the wine cellar and a guest house connected to the main house by a covered passage.
They also preserved a small natural pond on the property, by building a ramp there that leads to one of the entrances to the house. “Every spring we have this cacophony of frogs – we love it,” Mr Van Esch said.
The main entrance is a single blue door on the ground floor of the guesthouse, where there is also a two-car garage. Stairs lead to the window-lined breezeway, with views of the water on one side and the woods on the other. The breezeway connects to the upper floor of the main house.
The open living room in the main house has peaked fir ceilings with skylights, as well as fir poles, burnished concrete floors, a freestanding fireplace, and large windows overlooking the ocean. The kitchen has a nine-foot island and countertops made of Dekton, a very durable material that requires minimal maintenance. The glass doors of the living room open onto a large terrace.
A retractable staircase in the kitchen leads to a loft space, which sellers refer to as the “separate room”. It has a comfortable window seat overlooking the water.
Off the living room, the master bedroom has a bespoke platform bed and a private terrace. “When we wake up in the morning, without even looking up, we can see across the Salish Sea to Vancouver Island,” Van Esch said.
A dressing room behind the bed is accessible by corridors on each side. The adjoining bathroom has a tub, shower, and laundry station with a sink and a two-sided medicine cabinet hanging above.
The ground floor of the main house, accessible from the outside via the ramp over the pond, features a covered porch, office, family room with another freestanding fireplace, and a second bedroom and bathroom. bath.
The wine cellar has a wooden bar made from a piece of cedar found on the property, Mr. Van Esch said. The guest house, above the garage, has an open living space with a kitchenette and a mezzanine bedroom with a bathtub. The suite has its own entrance and can be locked from the main house and used as a short-term rental, said Gina Stockwell, senior vice president of sales for Sotheby’s International Realty Canada, which owns the listing.
Rural Halfmoon Bay is on the southern end of British Columbia’s Sunshine Coast, next to Secret Cove, which has a marina and resort, Stockwell said. This property is less than a 20-minute drive from Sechelt Municipality, which has supermarkets, restaurants and a hospital. The Sunshine Coast is accessible exclusively by ferry or seaplane. The ferry terminal at the southern tip of the coast, at Langdale, is about a 50-minute drive from this property; the ferry ride to Horseshoe Bay in Vancouver takes 40 minutes. Seaplanes from Vancouver land in Sechelt.
Market overview
The Sunshine Coast, nestled in the southwest corner of mainland British Columbia, stretches 110 miles from Howe Sound to Desolation Sound. The region includes the traditional territories of the Squamish, Sechelt, Sliammon and Klahoose Nations and has a population of approximately 50,000.
The region’s mountains, lakes, coastline and coves make it a paradise for those seeking outdoor recreation. “It used to be Vancouver’s best-kept secret,” said Aliese MacKenzie, commercial agent at Re/Max City Realty. “About five years ago, we saw a real increase in the number of foreign buyers. This is when prices started to skyrocket.
The pandemic has further boosted the area’s appeal, as Vancouver residents “who were stuck in condos have fled to larger properties and the possibility of having a home office,” said Sue Scott, business advisor at Engel & Völkers Vancouver.
The median selling price of a detached house in the Sunshine Coast region was just over C$1 million ($726,000) in the first half of this year, a 22% increase from compared to the same period last year, according to a market report from Re/Max. Canada. That price — which makes the Sunshine Coast one of Metro Vancouver’s most affordable areas — typically buys a 1,500-square-foot ocean-view home in a more built-up location, like Sechelt said. Mrs Stockwell.
Since the start of 2022, prices have stabilized in the area despite “the downward trend in the Greater Vancouver housing market,” according to the report. This is partly due to a steady rise in interest rates this year, which is cooling the market. According to Re/Max Canada.
Proximity to the ferry in Langdale dictates prices, making the nearby town of Gibsons the “most elite area”, Ms MacKenzie said.
The area is currently facing a housing crisis, with a shortage of rental housing preventing business owners from finding enough workers. “A lot of companies are struggling and if they can afford it, they buy housing to house their employees,” she said.
Inventory in the Sunshine Coast region, while still relatively low at 277 active listings, soared 73% from last September to September, according to data from the Real Estate Board of Greater Vancouver.
Who buys on the Sunshine Coast
Foreign buyers represent a very small share of the market in the region, agents said, as the majority of buyers come from Vancouver.
Most foreign buyers come from the United States, they said. Ms MacKenzie said the area is also attracting Chinese buyers looking for business investment.
Purchasing principles
The Canadian government plans to institute a two-year ban on home purchases by foreign nationals in January. The ban is part of an effort to relieve pressure on house prices from foreign investors, according to the government’s finance department. Temporary workers and international students are exempt from the ban.
Currently, foreign buyers in most areas of British Columbia must pay an additional 20% tax on home purchases. However, purchases on the Sunshine Coast are exempt from this tax, officers said.
“I’ve had buyers from California come to buy here specifically because there’s no foreign buyer tax,” Ms. Scott said.
Buyers and sellers hire their own lawyer or notary to handle the transaction. Since the majority of Sunshine Coast properties are not connected to a municipal sewer, purchases require a septic system inspection, Ms MacKenzie said.
Websites
Languages and Currency
English French; Canadian dollar (1 Canadian dollar = $0.73)
Taxes and fees
All purchases are subject to real estate transfer tax. Graduated rate starts at 1% of fair market value up to C$200,000 ($145,000) and increases to 3% on any portion of the value over C$2 million ($1.45 million) . A 2% surcharge is due on any portion over C$3 million ($2.18 million).
The annual property taxes on this house are 6,301 Canadian ($4,575), if it is classified as a secondary residence; the rate is lower if it’s a primary residence, Ms. Stockwell said.
Contact
Gina Stockwell, Sotheby’s International Realty Canada, 604-989-8235, sothebysrealty.ca/en
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