Thu. Aug 18th, 2022

VANCOUVER –

A multi-million dollar property with a unique design is billed as a “perfect fit” for young families.

A listing with Sotheby’s International Realty suggests that “the castle” in BC’s Okanagan would be a great escape for parents and their children “who longed to balance their busy lives with a home that talks about skipping rocks.”

Real estate agent Cheryl Soleway wrote that she could also imagine an artist, musician or writer taking over the 3,200-square-foot home on an eight-acre plot in Cherryville.

Cherryville is a non-incorporated rural area not too far from the village of Lumby and about 50 miles east of the nearest town of Vernon.

“Private retreat” with three bedrooms and six bathrooms can also appeal to buyers who “are looking for adventures not found in the regular commercial resorts,” Soleway wrote in the listing.

With a asking price of $ 3,450,000, the castle on Sugar Lake Road in the Monashee Mountains is not for everyone.

But for those not intimidated by the question, the luxury property includes 1,300 feet of shoreline along the Shuswap River and Cherry Creek. It is located at the foot of the mountain range.

And it’s not your average Canadian luxury property.

Although “modernized”, the list says its current owners “carefully examined” 15th-century castles, drawing inspiration from the high ceilings, arched doorways and more.

Their research inspired the decade-old palace drawbridge and koi-filled moat.

The home also has a spread roof terrace, “not so secret” door to a private garden next to the master suite and outdoor kitchen in a gazebo. The property also includes its own island.

In addition to what Soleway describes as the “main castle,” the property also includes a caretaker’s cottage and a room that could be a rented suite.

It’s fun to dream about, but as a quick reality check, CTV News investigated what the mortgage can be on a property like this, assuming the prospective buyer has at least the minimum down payment, which is 20 percent in Canada for properties, which costs $ 1 million or more.

Provided the person agrees to pay the request, they must put $ 690,000 on the castle. That would leave the $ 2,760,000 mortgage.

On a five-year fixed-rate mortgage with an interest rate of 1.94 percent, which was the lowest available on RateHub.com’s mortgage calculator on Friday, they would seek to pay around $ 11,600 each month.

It does not include the $ 81,500 land transfer fee. On top of that, there would be property taxes, even if the property is only valued by BC Assess at $ 925,000.

All photos from Sotheby’s International Realty

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