# Home Purchase in NFLD



## newfoundlander61 (Feb 6, 2011)

I am wanting to go back to my birth place if NFLD. With the booming oil industry is it even possible for me to do this. My currentbhome in Kingston is paid off and would sell for around $280,000 of course after real estate fees etc that would be even lower. I could use $30,000 cash to top it backup. My goal is to live just about anywhere on the island except for the far north f the province. My ideal home would be one level, 2 bedrooms; 1 full bathroom; single attached car garage and thats about it. Also a home that is move in ready with no work to be done. Land taxes no more than $2,200 per year. Is living in NFLD with my purchase budget and wants possible? Any info, comments or advice is welcome. If I contact an agent there of course they will say no problem, thats their job. Anyway thanks for taking the time to read this dream of mine.


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## Just a Guy (Mar 27, 2012)

From what I've seen, the rock is one of the cheaper places to buy in canada...it has increased a lot over the years, but it still seems cheaper to me.


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## Xoron (Jun 22, 2010)

If you aren't concerned exactly where you want to live, then you should be fine. 

St. John's is probably out of the question, but there are MANY small communities that have houses in that range. Even the larger places (Clarenville, Gander, Grand Falls, Deer Lake, Corner Booke) will have options. Just browse around on Remax.ca for something in your range.


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## newfoundlander61 (Feb 6, 2011)

Thanks for the input, will do some online research.


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## 1980z28 (Mar 4, 2010)

I purchase land and built a house and garage there

I came to ontario in 78 at 18 years old

I am 54 now and will retire there in two years,about 20 minutes from st johns

You can get a real estate agent from there to help you with a purchase

On the Avalon peninsula it is more of a cost to live

You can go for a holiday and have a look around


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## 1980z28 (Mar 4, 2010)

newfoundlander61 said:


> Thanks for the input, will do some online research.


You can also check on Kijiji


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## Xoron (Jun 22, 2010)

newfoundlander61 said:


> Thanks for the input, will do some online research.


And there are plenty of communities withing 1 hour drive of St. John's which should have what you're looking for. And really, if you're going to be retiring in NL, you want to be somewhere close to either St. John's or another large town with adequate health care resources.


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## FrugalTrader (Oct 13, 2008)

Also, if you want to travel during your retirement, St. John's has the main airport in NL.


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## banjopete (Feb 4, 2014)

I'm not so sure the oil boom is still running strong. I'd say keep the dream and start watching the housing market where you want to buy this way you can get a feel for what's happening there. The next few years might be a great time to be looking for a house move. Having your money tied to your current house isn't ideal given that your home sale could be affected by the same forces in your dream market. I suspect there will be a surplus of listing starting to pop up as Alberta slows it's crazy project rates.


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## 1980z28 (Mar 4, 2010)

banjopete said:


> I'm not so sure the oil boom is still running strong. I'd say keep the dream and start watching the housing market where you want to buy this way you can get a feel for what's happening there. The next few years might be a great time to be looking for a house move. Having your money tied to your current house isn't ideal given that your home sale could be affected by the same forces in your dream market. I suspect there will be a surplus of listing starting to pop up as Alberta slows it's crazy project rates.


IMHO

I do think that a lot of newfoundlanders will return to NL over the next few years to retire,my example is what is driving part of the housing market,back in the 60`s,, 70`s and 80`s NL had a negative POP growth, we all left to look for work in Ontario and Alberta,now that we are close to retirement,a great percentage will return Home with some cash

My example is that I purchased 126 acres 5 years ago,have built a home there,to retire


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## banjopete (Feb 4, 2014)

1980z28, that's an angle I didn't consider. I do wonder if an environment that would support long term price increases like strong employment either locally or abroad could exist solely on the homesick retiree phenomenon if we assume oil based incomes stagnate or fall off? It's all speculation of course like much of this is but it will be interesting to hear the local stories as we go forward this year.

I'm jealous of the acreage, 126 acres is just enough to not have neighbour problems...


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## 1980z28 (Mar 4, 2010)

banjopete said:


> 1980z28, that's an angle I didn't consider. I do wonder if an environment that would support long term price increases like strong employment either locally or abroad could exist solely on the homesick retiree phenomenon if we assume oil based incomes stagnate or fall off? It's all speculation of course like much of this is but it will be interesting to hear the local stories as we go forward this year.
> 
> I'm jealous of the acreage, 126 acres is just enough to not have neighbour problems...


POP of NL and LAB is just over 500k
Mining is a large part as is oil if all projects where short term than it would be an issue for residents,but that would only impact the Avalon 
peninsula as the rest of the Island seem to be growing and the pop is on the increase

The 126 acres is on the coast with 1500 ft of shoreline
I have worked as a mechanic for the last 37 years,so when building for retirement I built a large two story garage
My own septic and well,twoo 1000 ft driveways and 9 hydro poles
75 acres is trees for firewood also will grow root crops,hunt and fish,all to keep busy


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## Just a Guy (Mar 27, 2012)

Then winter comes and you wonder why you didn't snowbird to Florida...


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## 1980z28 (Mar 4, 2010)

Just a Guy said:


> Then winter comes and you wonder why you didn't snowbird to Florida...


I run 7 to 10k plus every day,not to bad for a young man of 54,nice only working 3 days a week being semi retired,2 more years fully retired

I love winter,very much do not like humidity and high temps also hate crime,nice to leave doors open at night,also to know all your neighbors is nice,not like living in a large city where you lock your doors and do not know your neighbors 

Check the mean temp for NL,not as bad as you think


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## marina628 (Dec 14, 2010)

We have property about 1 hour from Gander in a small town ,it is on the Ocean and we are in process of renovating it now as I have a wheelchair and we needed to make things easy for me.If you don't have to work and can live 'anywhere' you can get a nice home for about $100,000.Gone are the days you could pick one up for $25,000 or so.


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## gibor365 (Apr 1, 2011)

marina628 said:


> We have property about 1 hour from Gander in a small town ,it is on the Ocean and we are in process of renovating it now as I have a wheelchair and we needed to make things easy for me.If you don't have to work and can live 'anywhere' you can get a nice home for about $100,000.Gone are the days you could pick one up for $25,000 or so.


I talked with one family during our Cuba vacation ...they live in some small town about 1 hour from Sackville... they said that in their town you can buy very nice house in 25-60K range on the cliff and view of Bay of Fundy.... I was very surprised that such prices still exist in Canada


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## 1980z28 (Mar 4, 2010)

marina628 said:


> We have property about 1 hour from Gander in a small town ,it is on the Ocean and we are in process of renovating it now as I have a wheelchair and we needed to make things easy for me.If you don't have to work and can live 'anywhere' you can get a nice home for about $100,000.Gone are the days you could pick one up for $25,000 or so.


You will love it

A friend of mine purchased a home outside of conerbrook for 34k also spent a 100k to get what he wanted,nice


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## CharlesF.Donahue (Jan 7, 2015)

There are lots of real estate sites where you can get an idea about prizes of properties in Newfoundland and after that you can choose a better area that suit you.


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