The New York Times Looked At This New Brunswick Home
New Brunswickers like to brag about the relatively reasonable housing prices in the picture province, particularly compared to the ever expanding real estate bubble in cities like Toronto and Vancouver. But what happens when the New York Times pays a visit?
Turns out they like it, or at least this gorgeous home for sale near the old-money enclave of St. Andrews.
The Times‘ “House hunting in…” feature focused on the property. It’s a large home with all the features you would expect comes with a price of just under CDN $2 million, or a bargain at US $1.54 million. Located in Chamcook, the three-level, four-bedroom home sits on almost five acres just a few minutes from downtown St. Andrews.
According to the paper, vacation or retirement home buyers in the area are mainly from western Canada, the United States, England and Germany. St. Andrews-based real estate agent Leona Golding, a broker and the owner of the Fundy Bay Real Estate Group who is offering the home, says there has been an uptick in buyers from the west coasts of the United States and Canada.
“I think they’re taking advantage of the high market on the West Coast,” she said, by selling their homes there and buying more for their money in the St. Andrews area, she told the Times.
While the profile of the property focuses on the lovely community of St. Andrews and all the various attributes of the luxury home (automatic ‘wood waiter’ for the fireplace!), it does caution potential buyers about New Brunswick’s onerous taxation on second homes, particularly paying nearly double property tax on second homes or owned by non-resident properties.
Karl Deering, another St. Andrews’ real estate agent, says that activity is picking up in the local area, telling the Times that sellers “certainly have a lot more strength than they would have had a year ago.”
Of course, prices tend to be more stable in swanky St. Andrews than nearby communities. “It’s a little more affluent,” Mr. Deering said. “It’s a market that holds its own.”