They are buying for $4.6 million on the shores of Brome Lake

Hundreds of properties in Quebec change hands every day, most of them without us knowing the exact details. That was before we became interested… Here are the latest transactions that caught our attention.

A large residence on the shores of Brome Lake in the Eastern Townships just traded for just over $4.6 million.

Located at 8 Rue Gaboury in Lac-Brome, this multi-story home features five bedrooms, five bathrooms, a detached two-story workshop, a three-car garage and 11 parking spaces.

Real Estate - Lac Brome

Saguy Elbaz Team, Sotheby’s International Realty Quebec

This residence, built in 1970 and subsequently renovated several times, offers a living space of 693 m2 on a plot of 4765 m2, of which 71 meters wide are on the waterfront. In addition to all the equipment, the sale of this property also included a personal watercraft.

Its owners, an entrepreneurial couple of Guylaine Choinière and Denis Favreau, bought this property 20 years ago, in June 2003. The price paid at that time was $630,000.

Real Estate - Lac Brome

Saguy Elbaz Team, Sotheby’s International Realty Quebec

20 years later, last September, her real estate agent advertised the same property for almost eight times as much, $4,950,000. The sale ultimately closed for $4,608,780, or $341,220, or 6.9% below the expected price.

At last appraisal, this property was assigned a value of $2,656,600, or $522,200, or 24.5% compared to the previous assessment of $2,134,400. In 2023, municipal taxes were $15,708.

Added to the purchase price for the buyer is a transfer tax payable to the City of Lac-Brome in the amount of $125,356.

In collaboration with Philippe Langlois.

Excerpted from the Journal’s weekly real estate column. If you hear of an interesting transaction, do not hesitate to share it at [email protected].