Prince Edward Island Real Estate Explained!
Prince Edward Island is a small island located 13 km off the east coast of Canada. It is connected to the mainland by the Confederation Bridge as well as ferry and air. While Prince Edward Island is the smallest province in Canada it isn't small on scenery or lifestyle, and the Prince Edward Island waterfront real estate market is strong. Prince Edward Island, the Emerald Isle, is a great place to retire, holiday, or even use as a summer retreat from the hustle and bustle of big city life. Prince Edward Island waterfront real estate is plentiful due to the long jagged coastline and bays and inlets of the island. There is always something new just around the corner and PEI properties and PEI homes are readily available, always beautiful and well-kept, as well as being very affordable. Many visitors to Prince Edward Island, and there are upwards of a million in the summer, choose to enter the Prince Edward Island real estate market and buy a PEI property or PEI home of their own using it for their own vacation as well as netting a return on investment by renting it to other vacationers when not using it themselves. Many PEI realtors and Prince Edward Island real estate agents will manage your PEI property when you are away.
Prince Edward Island real estate affords anyone interested in becoming a Prince Edward Island real estate investor a secure financial instrument upon which to base a wealth-building plan. Prince Edward Island real estate, while perhaps not providing the potential for the large returns to be had in some urban areas, such as the recent "crazy" upturns in portions of the Toronto market, is much easier to break into with much lower cash requirements as well as not being subject to the potential risk and downside of a real estate market that over inflates and then falls. The Prince Edward Island real estate market at present still has many great deals on offer that will allow everyone from the family seeking their first PEI home to the savvy real estate investor looking for a Prince Edward Island commercial or multi-family rental investment.
Wally Ross and the Century21 Northumberland Realty team are your first choice when looking for a PEI realtor who can help you enter the Prince Edward Island real estate market. There are some restrictions on out of province ownership of Prince Edward Island waterfront real estate but these are not difficult to comply with and still allow for a considerable purchase of PEI property or the purchase of a PEI home.
The Prince Edward Island real estate market is generally though to divide into two distinct categories. There is the local market which includes PEI home owners, islanders generally who live and work here with their families year-round, buying a PEI home or other PEI property for their own use. Then there is a very strong summer Prince Edward Island real estate market which is made up of visitors and summer residents who come to PEI and buy PEI property looking to have a base for a different kind of lifestyle than that found in the bigger Canadian cities. More and more those wishing to be summer residents of Prince Edward Island buy into some of the excellent Prince Edward Island real estate developments such as Sunset Dunes, Granville on the Water and Sunbury Cove. These Prince Edward Island real estate developments offer serviced lots as well as turnkey PEI homes built to specification.
There is actually a third type of market which skews between these two. This is the retiree market. People from other parts of Canada are coming to Prince Edward Island and buying into the Prince Edward Island real estate market, often purchasing in the towns and cities especially buying into Summerside real estate. These people find that they can purchase a PEI home for a fraction of the price they sell their home in other parts of the country and use the released equity to finance part of their retirement.
Whatever your Prince Edward Island real estate needs you can rely on Wally Ross to search the MLS catalog of Prince Edward Island real estate listings to find just the right PEI property to suit your needs. Wally Ross and the Century21 Northumberland Realty team provide the services you are looking for when you choose a PEI real estate agent.
Call Wally Ross today for a brighter future tomorrow, living the PEI lifestyle, and enjoying the financial security of homeownership in the Prince Edward Island real estate market.
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48 BAYVIEW DR
Luxury 3 storey Cedar Pan-abode Log home (4941 sq. ft) located at Seawood Estates in Stanley Bridge. Used as a high end weekly summer rental, huge wrap around deck on 3 sides of home, heated pool with walk around deck, plus a separate hot tub area with roof. Can accommodate up to 18 people easily or 2 separate groups, as bottom floor has separate entrance, doors on stairway can be locked. This 5 bedroom waterfront property is over looking the beautiful Hope River Bay, with white sand dunes and Gulf of St. Lawrence off in the distance. Could be used as a year round property for one family on main two floors, with a two bedroom bungalow size apartment on ground floor. Has 2 furnaces, 2 full kitchens, 2 living rooms, 3 full bathrooms - one on each floor. Great get away for business groups, use it personally, then treat your staff and/or clients for a holiday as well. Ten minutes from Cavendish Beach, 30 minutes to the Cities, golfing, boating, shopping, boardwalks, trails and more. $387,000
93 BLEECKER ST
This typical country style farm house has it all, privacy, almost 15 acres of land, barns and a spring feed stream. The home has seen many renovations since 2007, including both bathrooms redone, exterior walls stripped, insulated and gyproc installed. This could be a seasonal summer hide away or a year round property, also good spot to run your own business. Would make an excellent dog bordering kennel or horse bordering property. The horse barn was renovated in 2005, there`s 220 power and water in barns. Also a good property to do your own vegetable growing business with a spring feed water source. Property also has a 6` drilled well (120` deep) with submersible pump, that was installed in 1994. Only 5 minutes away from the Stanley Bridge and Cavendish area. Property owner has a shared (55%) driveway agreement with another home owner (45%) half way up hill. Vendor will supply $5000 worth of gravel for driveway, on the successful closing date. $179,900
663 LOWER DARNLEY RD
Beautiful 3 bedroom cottage, all finished inside with wood, nice kitchen and Island with snack counter. Short walk to one of the nicest beaches on the north side of PEI. Has been used in the past as a rental property, so it could pay for itself. Comes fully furnished, with appliances and hand made crafted pine bedroom sets. Open concept for kitchen, dining and living room area, great for entertaining. Nice views inside and out, from front deck distant views of the Gulf of St. Lawrence, off back deck distant views of the Darnley basin. Front deck (east side) of cottage you can watch the sun rise and from back deck watch the sun set. Patio doors leading onto back deck, which is full length of cottage, lots of room for family get together`s and summer fun. Front and back decks ($13,000) were both built new last year. New well drilled in 2013, plus new pump installed, also has outdoor shower. Currently off-island owner, seller would rent it back for the month of July. $124,900