Find Your Second Home in Victoria, British Columbia
When it comes to second home destinations, it doesn’t come as a surprise that location is the most important factor in buyer decision making. And as a National Association of REALTORS® report from earlier this year reveals, waterfront homes overtake fifty-one percent of the share for most coveted vacation properties (broken down into 33% preferring beachfront and 21% going lakefront). In the Pacific Northwest, vacation home buyers have typically turned north to the San Juan Islands (in popular destinations such as Friday and Roche Harbor) to satisfy their needs, but now savvy buyers are heading even further north, to unique destinations such as Victoria, British Columbia. In this second home spotlight, I take a tour and explore the relative value of Urban Masterpiece, a fabulous waterfront oasis awaiting its next residents.
This bespoke contemporary oceanfront home was masterfully created from steel and concrete under the guidance of Victoria’s premier architect, Peter de Hoog. It offers the discerning buyer unmatched quality and the opportunity to make their own rules in an exceptional vacation home.
With a prominent perch upon Gonzales Bay, Urban Masterpiece is only ten minutes from Victoria’s downtown core, where residents and visitors alike enjoy festivals and events, restaurants and cafes, wine and spirits, renown attractions, and more. Its easy access to a bevy of urban amenities is one of the reasons it stands apart from other vacation home destinations along the West Coast.
As Dean Jones, President & CEO, Realogics Sotheby’s International Realty says, “while destinations such as the San Juan Islands and Gonzales Bay both afford a supreme waterfront lifestyle, only the latter is graced by seamless access to an established city with a full suite of amenities. Victoria feels like it’s a world apart from the Seattle area, yet is actually quite convenient to access via Kenmore Air float plane service or the Victoria Clipper via fast ferry. It’s a slice of Europe right here at home.”
Glynis MacLeod, the listing agent with Sotheby’s International Realty, says that when the home was built in 2009, construction costs averaged $850 (CAN) per square foot (or $650 USD), but the rapid rise in construction costs puts replacement well above $1,200 CAN per square foot ($920 USD) today.
Though waterfront residences on San Juan Island averaged just under $1M in median sales price for the first half of 2018, looking further south to Lake Washington in areas with comparable amenities to Urban Masterpiece, prices easily exceed $2,000 USD per square foot. Moving even further down the coast, Shen Schulz, a broker based in Malibu, says “if this home were located on the oceanfront in Malibu, it would easy exceed $10 million USD in value.”
A Victoria icon in the making, this home affords the finest quality finishes, stellar craftsmanship, refined finishes and a one-of-a-kind waterfront locale. Together with the lock-and-leave lifestyle it provides, this property truly encapsulates all one requires for a second home lifestyle.