Alan Steel writes about Nova Scotia. His article is pretty much accurate. Interesting angle and certainly paint a great picture of our province.

“The language is English. The land mass is slightly smaller than Ireland. Although it’s not an island there’s 4,600 miles of stunning coastline. There are 85 golf courses, and Bill Clinton flies in to play a round. Within an hours drive of where I’m staying there are 40 golf courses. Amazingly, the area is on the same latitude as Bordeaux and Northern Italy.” and “So, if you’d like to invest in a second home in one of the safest places in the world, where property prices are cheap on an international scale, and where Baby Boomers from the US, Canada, and Europe are increasingly likely to drive up property prices for the next 20 years, have a look at Lunenburg County, Nova Scotia. “
Nova had it so good

By Alan Steel

I wonder what the rich people are doing today?

It’s eleven o’clock in the morning. It’s sunny and warm enough to sit on the huge shaded deck in T-shirt and shorts. There’s a nice breeze drifting up from the sea two hundred yards away. Too early, unfortunately, to enjoy a chilled local wine at a mere three pounds a bottle [$8.82CAD - $7.58USD - €6.21EUR]

You probably know I think houses are overpriced in the UK and elsewhere as everybody wants to invest in property instead of stockmarkets. The herd is still buying up homes in the Med. Florida is also a favourite despite the likely worsening weather patterns. And in Malibu California the property market is so overheated it costs over one million pounds for an ocean front mobile home! [$2 millionCAD - $1.8millionUSD - €1.4millionEUR]

But hey – I’ve stumbled on a secret haven where property prices are cheap by any standards. And I reckon they’ll increase substantially for the next 20 years as record numbers of post-war Baby Boomers look for holiday or retirement homes by the sea.

So where is this? Let’s see if you can guess. Summer temperatures regularly hit the low 80’s. The climate is dry. Winter brings snow. Petrol is only 45p a litre. [$1.30CAD - $1.11USD - €.91EUR] The legal system is based on UK law. Buying property is open to non-residents. And, like Scotland once contracts are exchanged, the deal is done.

The language is English. The land mass is slightly smaller than Ireland. Although it’s not an island there’s 4,600 miles of stunning coastline. There are 85 golf courses, and Bill Clinton flies in to play a round. Within an hours drive of where I’m staying there are 40 golf courses. Amazingly, the area is on the same latitude as Bordeaux and Northern Italy.

The cost of living is well below that of the UK, with world-class steaks, fish suppers, and the best Italian sausages you can eat. There are only one million residents in this vast area. Half of them live in the capital, which boasts one of the finest natural harbours in the world. And they enjoy Highland Games and Celtic music festivals.
It’s a five-hour cheap flight from Glasgow and an hour and half from New York. Liverpool on the Mersey is only an hour’s drive away.

If you’re tempted to buy a home here you’re in good company. Famous part-time residents attracted by the craggy coastline and quaint fishing villages include Paul Simon, Jack Nicholson, Billy Joel and Roger Moore. Got it yet? Let me give you one more clue – it’s the second sunniest state or province in North America. It’s Nova Scotia, Canada, with its strong Scottish ties.

So what will a second home set you back? There’s a huge range from as little as £25,000 [$11,930CAD - $10,260USD - €8,400EUR]for a three-bed house on several acres to huge ocean front estates at £1,000,000 plus. [$2 millionCAD - $1.8millionUSD - €1.4millionEUR]

I’m based in Lunenburg County, south west of Halifax. Within around one hour’s drive of the airport, there are lots of homes, mainly oceanfront, at ridiculous prices. How about a big four-bedroom colonial style property overlooking Lunenburg’s bay for £95,000? [$45,360CAD - $39,000USD - €31,940EUR]

The jewel in the crown is the village of Chester, already known as the retirement capital of Canada thanks to its stunning waterfront, yacht club, theatre and golf course. Prices are higher here, but building restrictions mean that demand should continue to outstrip supply. But you can still find good deals. For example, you can snap up two side-by-side homes overlooking the sea with six bedrooms and room for a tennis court for £300,000. [$626,200CAD - $540,200USD - €440,000EUR]

Buying costs are very reasonable. There’s a 1% purchase tax [ed - in some areas], and all the other costs, typically are below £1,000, even for a home costing about £250,000. Non-residents selling property would pay UK capital gains tax thanks to a double tax agreement. Steve Lumb a Chester based estate agent confirms it is possible to obtain mortgages from a Canadian bank although it will make absolutely certain that you can afford the repayments. Canadian variable interest mortgages are at a 3.8% interest rate. Five year fixed rates are below 5%. You may of course prefer to borrow from a UK lender.

So, if you’d like to invest in a second home in one of the safest places in the world, where property prices are cheap on an international scale, and where Baby Boomers from the US, Canada, and Europe are increasingly likely to drive up property prices for the next 20 years, have a look at Lunenburg County, Nova Scotia.

Courtesy of the Daily Record, 19 July 2005.

© 2004 Alan Steel Asset Management. all rights reserved.

About the author:

Alan Steel – Chairman
Alan was an actuarial student in 1969 with Scottish Widows so he understands the industry algebra. He became an IFA in 1973 – formed Alan Steel Asset Management in 1975. He has survived 3 stock market crashes.

A non-profit community organization will be given a $5.5-million provincial loan to purchase the land, buildings and eight wharfs that have stood since being built early last century.

…”I guess the first thank you goes to the community, who really understood the importance of our controlling the future and developing it as a working waterfront, not turning it into a residential, tourist or museum activity,” he said as fishing vessels and boats laden with tourists passed by.

…Mayor Laurence Mawhinney praised the province and said he hopes the purchase will allow the area to resurrect a fishing industry that has struggled for years as stocks dwindle and companies downsize.
Nova Scotia to buy waterfront properties in historic Lunenburg

ALISON AULD

LUNENBURG, N.S. (CP) – The community of Lunenburg reclaimed some of its most treasured waterfront buildings in a $5.5-million deal it hopes will breath new life into its seafaring heritage.

As the fabled Bluenose II schooner sailed past, Premier John Hamm announced Wednesday that the province would purchase 22 buildings that have come to symbolize this picturesque seaside town.

Hamm said the province had to intervene and buy the string of red buildings to prevent them from falling into the hands of questionable developers.

“What we wanted to achieve was to give the community the ability to control their waterfront,” he said on a shoreline boardwalk that links the buildings that served the fishing industry for decades.

“Imagine if we didn’t do it and all this became lost.”

A non-profit community organization will be given a $5.5-million provincial loan to purchase the land, buildings and eight wharfs that have stood since being built early last century.

Jim Eisenhauser, who leads the group charged with deciding which businesses can set up in the properties, said the purchase ensures Lunenburg will have more control over its future.

“I guess the first thank you goes to the community, who really understood the importance of our controlling the future and developing it as a working waterfront, not turning it into a residential, tourist or museum activity,” he said as fishing vessels and boats laden with tourists passed by.

Eisenhauer said he expects the aging buildings will be resold to ship builders, ship operators, fishing companies, possibly a sailing academy, and other ventures tied to the sea – something that was key to winning community support.

There has been concern in the 250-year-old fishing village about what would become of the property since Clearwater Seafood announced in late 2003 it would sell them.

Residents were concerned the company would sell to a developer who would turn the buildings into high-priced condominiums, creating very few jobs for the community and steering it away from its traditions on the sea.

“Lunenburg is a fishing village and if you take the boats out, it don’t leave much,” Russell Eisenhauer, 42, said on a break from his work repairing a sewer line as crews began removing For Sale signs on the nearby buildings.

“This is a lot off people’s chests because they didn’t know what was going to happen with the buildings. We’d like to see the fishing get back going again.”

The buildings, which once adorned the Canadian $100 bill, helped establish Lunenburg as one of the world’s few UN heritage sites. The waterfront area includes a sail loft, dory shop, machine shop, brokerage and retail outlets, an iron forge and building spaces used by vessel owners.

Mayor Laurence Mawhinney praised the province and said he hopes the purchase will allow the area to resurrect a fishing industry that has struggled for years as stocks dwindle and companies downsize.

“I think we can really make a living from it for the next century – I’m delighted,” he said.

Colin MacDonald of Clearwater said there were three other bidders vying for the properties, adding that one offered to pay $600,000 more than the asking price of about $9 million.

But MacDonald said he wanted to put the real estate back in the hands of the town and the association, which hopes to pay back the provincial loan by reselling and leasing the properties.

Ferry firm aims for spring start
Public gets peek at Shelburne-to-Boston proposal

HALIFAX HERALD August 18, 2005
By BRIAN MEDEL Yarmouth Bureau

SHELBURNE – Ferry proponents have set a target of next spring for a new service between Shelburne and Boston.

Two Shores Atlantic LLC executives Gene Hartigan and new CEO Guy Conrad of Boston outlined the proposed service at a public meeting here Tuesday.

Mr. Conrad said they’d like to begin their service next May but won’t know for a while if that is a reasonable target.

“Will you see the first ship coming in May 1? Probably not but that’s what we’re aiming for,” he said.

“This is not an easy thing to do,” said Mr. Hartigan.

“If it was, everybody would be doing it” he said.

“It is our goal that we will have a ship targeted within the next couple of months,” he said.

They’re using the firm of Hornblower Marine Services Inc. of Indiana to find them a vessel.

“Being an hour closer (than Yarmouth) to Halifax is an asset,” said Mr. Conrad about Shelburne as a port.

He spoke of using a conventional vessel and not a fast ferry. The fuel consumption is much greater in a fast craft.

A typical big ferry cruising at 33 kilometres per hour would take about 16 hours to cross to Shelburne from Boston, he said.

A Boston departure at 5 p.m. would put the ship into Shelburne the following morning where it would remain all day before sailing again at about 8 p.m. for a noon arrival back in Boston.

The autoport, in north Boston, is a likely docking area, said the Two Shores Atlantic executives.

Shelburne Mayor P.G. Comeau is expected to be in Halifax through to Friday with Two Shores Atlantic officials to talk with Premier John Hamm, Tourism Minister Rodney MacDonald, ACOA and provincial economic development officials.

Two Shores Atlantic has a group of investors waiting but the public may be invited to buy into the company.

“We’ll make that happen if there is interest,” said Mr. Hartigan.

In Shelburne, the local port authority will have to make financing arrangements to build a terminal and docking facilities to the north of the existing town wharf.

“We have selected an area well north (of the wharf) . . . up to lands we are expropriating from the CNR,” said Mr. Comeau.

The town owns a water lot of about 305 metres around the perimeter of the wharf and plans to infill the water lot and create another 1.8 hectares for berths, marshalling and holding areas and a terminal site.

The town has also purchased additional land from the Irving group and is now negotiating for more land, as the mayor said, with CN Rail. The port authority is composed of the mayor and three of six town councillors and recently approved a consultant’s report citing the need for a $10 million to $12 million expansion of the port, including docking and terminal.

Town council is expected to approve the report’s recommendations, said Mr. Comeau.

The authority would likely seek $2 million to $3 million in government assistance for port upgrades in 2006, starting with $500,000 of its own money.

Nova Scotia ferry won’t sail this year
After ship’s owners reject bid, Hub group hopes for May launch
By Keith Reed, Globe Staff  |  July 27, 2005

Nova Scotia’s a no-go from Boston, at least for this year.

Several months of negotiations to bring the Scotia Prince ferry to Boston for trips to Nova Scotia ended this week, with the ship’s owners rejecting a proposal from a Boston investor group, Shores Atlantic LLC. Its failure to lease a ship ends hope for a maiden voyage from Boston in 2005 — a trip that until yesterday Shores Atlantic had said was still on track for August.
With no boat, however,……………
Full article can be found here.

http://www.boston.com/business/articles/2005/07/27/nova_scotia_ferry_wont_sail_this_year/

Boston Globe

Nova Scotia ferry won’t sail this year
After ship’s owners reject bid, Hub group hopes for May launch
By Keith Reed, Globe Staff  |  July 27, 2005

Nova Scotia’s a no-go from Boston, at least for this year.

Several months of negotiations to bring the Scotia Prince ferry to Boston for trips to Nova Scotia ended this week, with the ship’s owners rejecting a proposal from a Boston investor group, Shores Atlantic LLC. Its failure to lease a ship ends hope for a maiden voyage from Boston in 2005 — a trip that until yesterday Shores Atlantic had said was still on track for August.
With no boat, however, the company says its only option is to regroup and look for another vessel, in hopes of starting the service in May.

”Even though we’re disappointed, no one’s interest has waned. It was very ambitious to try to start it this year, anyway,” said Eugene Hartigan, a Shores Atlantic partner. ”We’ll find a ship and be able to put a crew together and be ready.”
But beyond securing a ship, Shores Atlantic had other hurdles.

The company first talked publicly about its plans in June, when Hartigan said cruises could start in July and run through October. The ship would have departed from Boston every Monday, Wednesday, and Friday for the 14-hour voyage to Shelburne, Nova Scotia, returning on Tuesdays and Saturdays, with roundtrip fares of between $100 and $200 per person.
But those plans were thwarted by a slew of important arrangements that needed to be made in a short time. Shores Atlantic needed a crew, docks for loading and unloading passengers and their cars, and security plans that could win the approval of US and Canadian customs officials.

Shelburne Mayor P.G. Comeau had set a July 1 deadline for Shores Atlantic to get its go-head to sail, because the Canadian town needed time to get ready for an August launch.

Comeau said he had been willing to commit a portion of a $400,000 city development fund to construction of a ramp to allow cars to drive onto the ship. He did not return several calls seeking comment yesterday.

It was mid-July before Shores Atlantic reached an agreement to use the Boston Autoport in Charlestown for boarding, but that was scuttled when the US Customs & Border Protection Service said the facility did not have an adequate place to conduct interrogations or detain people entering the country, if necessary.

Shores Atlantic later settled on using the Massachusetts Port Authority’s Black Falcon cruise terminal in South Boston, but that meant cars were no longer part of the plan.

The Scotia Prince can carry 185 cars.

The ship, a 1,000-passenger vessel with showrooms, restaurants, and a casino, sailed from Portland, Maine, to Yarmouth, Nova Scotia, until last year. Scotia Prince Cruises operated those trips, but canceled its 2005 season in April during a dispute with Portland’s city government over the condition of its docks.

That left the Scotia Prince available, and Shores Atlantic contacted International Shipping Partners, a Miami cruise ship broker that manages the Scotia Prince on behalf of its owners, which is listed on International Shipping’s website as Scotia Prince Cruises Limited.

That company could not be reached for comment; Charmaine Morris, a manager at International Shipping, declined to comment. Hartigan said Shores Atlantic never had direct contact with the Scotia Prince’s owners and hasn’t been given any explanation of why they rejected his company’s offer.

He said he and his partners will spend the next 10 months looking for a ship to lease for a May 2006 launch, and taking care of details like the security plan that will be needed to use the autoport.

”I was surprised, but that’s business,” Hartigan said. ”The window’s closed, and now it’s time to look for a new ship.”
Keith Reed can be reached at reed@globe.com.
© Copyright 2005 Globe Newspaper Company.

A recent article in American Chronicle about places to live around the world.
New Places To Live and Retire Around The World
Phillip Townsend

author’s web site

view author’s other articles

By Phillip Townsend
July 23, 2005

The advent of fast Internet communication and inexpensive air travel makes it easier to turn any far-flung paradise into a permanent home. Which places in the world have the most to offer? The perfect place to live or retire, of course depends on your idea of perfection.

I’m taking a different approach for this article. Instead of giving an overview of the better-known and increasingly-popular expatriate destinations around the world (Mexico, Costa Rica, Belize, Panama, Nicaragua, Ecuador, France, Spain, Portugal, Italy, etc.), I’ve decided to introduce you to the below 7 locales you probably don’t know much about. All offer affordability and abundant recreational and cultural opportunities.

Nova Scotia

Just east of Maine, in the North Atlantic, Nova Scotia’s pristine coast is slowly becoming a sought-after affordable getaway. Only two hours from New York or Boston, it feels a world away. A pleasingly crowd-free province on Canada’s Atlantic Coast, little-known Nova Scotia could just be the perfect full- or part-time retreat. Halifax, the capital, has been luring tourists for years. Waterfront cafes, European architecture, and spectacular seafood keep them coming back. Nova Scotia’s Cape Breton Island boasts the some of the best scenery in the world, from the picturesque highlands to the picturesque Bras d’Or Lake (pronounced “bra door”), with the Atlantic Ocean as a backdrop. In the winter months, the Gulf Stream keeps the climate milder than most northern U.S. states, with the area more rain showers than snow storms. Picture the American East Coast a century ago, and you get a feel for what Nova Scotia is like. Almost an island, it is best known for its stunning coastline, sleepy seaside towns and friendly people. The province’s natural beauty, cheap real estate and low cost of living make it well worth a look: oceanfront lots start at $10,000, three-bedroom homes on acreage from $50,000. A lobster dinner with a bottle of good local wine set you back no more than a twenty spot. Scenes of the Hollywood blockbuster Titanic were shot in Nova Scotia, and celebrities including Jack Nicholson, Demi Moore and Billy Joel maintain summer homes here…

complete article can be found here
http://www.americanchronicle.com/articles/viewArticle.asp?articleID=1336

The author has also written a book about retiring in Nova Scotia. It can be purchased and downloaded here.
http://www.thegloballife.net/

[Phillip Townsend, an international consultant, has assisted individual, corporate and government clients with travel, relocation and business matters. A former Money magazine correspondent, he most recently authored the e-Book “Passport to Canada: The Complete Guide to Living and Retiring in Nova Scotia” and special reports on Cuba and the Caribbean. Currently, he edits “The Global Life” newsletter, a bimonthly covering international living, retirement, travel and offshore financial affairs.]

Comments
Tim Harris
mailto:tim.harris@tradewindsrealty.com

Kiplinger.com has published an article about purchasing in Nova Scotia. The author refers to Nova Scotia being like New England 50 years ago. More than one of my clients has remarked that they feel the Village of Chester is like Nantucket 50 years ago, and they should know because that is where they come from to escape the ferry waits, line-ups in stores and all the tourists that crowd everything.

The full Kiplinger article can be found at.
http://www.kiplinger.com/personalfinance/magazine/archives/2005/08/abroad.html
Kiplinger.com
August 2005

At Home Abroad
by Pat Mertz Esswein

One alternative for buyers who don’t mind mixing a little adventure with their pleasure trips is buying abroad. With smart shopping, the price can be very right, but the real payoff will be in savoring a slice of the good life in another culture. We scoured three continents for desirable locales that are both affordable and accessible and settled on three: Nova Scotia, Honduras and the Etruscan region of Italy. Then we found part-time expats who are living their dream.

Nova Scotia: New England revisited

John and Jenice Benton of Tempe, Ariz., intended to buy a second home in New England to escape desert summers. In 1997, they spent part of a vacation fruitlessly scouting out places in Vermont, where they found properties too scarce and high-priced. On a whim, they headed to the historic Nova Scotian fishing village of Lunenburg, near Halifax. While strolling one evening, they passed a real estate office with its door open. The next day, the couple went back and asked to visit some of the homes for sale. They bought the second one they saw — an exquisitely restored two-story Cape Cod built in 1840 — for $92,000 (all prices in this story are in U.S. dollars). It’s in the village, within walking distance of its harbors.

Nova Scotia has since become a family affair for the Bentons. Eldest daughter Katie and her husband, Hal Cohen, from Baton Rouge, La., purchased a second home for themselves and five-month-old son Julius. The couple split the $81,000 purchase price, and the $81,000 it cost to renovate the house, with her parents, and they share ownership.

Parts of Nova Scotia have seen appreciation similar to that in the U.S. Properties in Lunenburg, for example, have appreciated more than 70% since the Bentons bought their home nearly eight years ago. But the province continues to attract Americans looking for a location that’s more affordable and less congested than New England and elsewhere on the East Coast. “Nova Scotia feels like New England 50 years ago — unbelievably wholesome, with a slower pace,” says John, 57, a real estate developer with family roots in New England. The province has 4,600 miles of coastline, hundreds of lakes and rivers, 60 golf courses, and a rich Celtic and Acadian heritage.

But Nova Scotia’s greatest asset may be its people, uniformly described as friendly and kind. John Benton says his neighbor, a purser for the scallop fleet, often leaves a bag of the day’s catch in the Bentons’ refrigerator with a note to “cook them tonight.”

Where to look. Buyers have already discovered Nova Scotia’s …. see full article at

http://www.kiplinger.com/personalfinance/magazine/archives/2005/08/abroad.html

………………………………………………………………………………..

Tim Harris, Broker, Tradewinds Realty

comments

mailto:tim.harris@tradewindsrealty.com