Buyers Drawn To Rural Homes Located In The East Coast

Rendering to what some local real estate agents said, more potential home buyers are being drawn from Canada’s large cities to huge mansions and other enormous buildings located in the rural East Coast area. A five bedroom house that was built in the 1830s was recently sold off in a deal in St. Andrews, New Brunswick by RE/MAX realtor, Mark Gauley. The house was listed for less than $350,000, due to the listing, the value of the property was increased. The invasion of more buyers from the U.S. was a surprise, a change that was impelled by the rise of the Canadian dollar.

Mark exclaimed; “We are getting some more Americans sniffing around and buying properties. Some of it, I would say is [the] Trump effect, believe it or not.” A Mounce Mansion located in rural Noval Scotia, which is more than a century, with a price tag of just $435,000 was listed recently. However, in just that short period, the Facebook post of the property has already been shared more than 36,000 times.

It is important to take note of the asking price, considering that the listing is a 3-storey building, classed with seven bedrooms, a built-in library, 2 living room, an eat-in kitchen and a sunroom, all in the 7,000-square-foot-buidling. Taking note of the current figures from TREB, the mansion is $2,300 less than the benchmark selling price of a condo unit in Toronto.

Quite a fair number of buyers have found interest in Prince Edward Island, with Steven Malayny of Royal LePage County Estates mentioned the ongoing influx of Ontario and Prairies residents, who are looking for a more peaceful environment. Most of them are thinking of changing their lifestyle in their latter-age as they retire and look for a more conducive area to settle in.