COUNTRY STRONG

from Unique Homes Spring 2023

by UniqueHomes2023

Considering Ocala?

By Camilla McLaughlin

Country roads are still calling people home. The most recent wave of new rural residents was spurred by the pandemic—seeking more space, privacy, and, in some cases, a total change of lifestyle. Today, the appeal of life away from bustling city streets continues to beckon with bucolic visions of leafy lanes, acres sprawled along a valley floor, rows of vines studded with fruit, or a sundrenched villa.

Dreaming Of Montana

“The Bozeman luxury country market has received tremendous attention in recent years. The pandemic caused people to expedite their dreams of a Montana property,” shares Kristen Hoell, managing broker of Berkshire Hathaway HomeServices Montana Properties. “People who relocated seem to embrace the area. We have not seen a sell-off of those properties, but rather a continuation of buyers relocating to Montana.” After a pause last fall and some price adjustments from extreme highs, she says buyers have started to return. “I see pricing leveling for 2023. I do not think it will drop further. I think this will prove a unique buying opportunity.” Here, properties are nestled into the foothills. Most average 20 to 40 acres, offering privacy and 360-degree views. Prices might be “far lower” than most resort towns, but, Hoell says, “buyers looking for a home with elevated finishes and a private, idyllic setting would still expect to pay $5 million to $10 million depending largely on land acreage.” Big Sky, Montana’s famed resort, is only a short drive up the canyon.

Generational Luxury In Italy

In Italy, Marcus Benussi, who serves as managing partner at Berkshire Hathaway HomeServices MAGGI Properties Agency, says, “Buyer preferences for country homes or homes that have enough space—either balconies, terraces or locations in green areas—is a trend that hasn’t slowed down at all. It’s still growing, still positive.” Interest comes not only from Americans visiting, but also Europeans. “German, British and French buyers are purchasing a lot here in Italy. According to our forecasts, this will remain in place for at least the next five to six years,” he observes.

No matter the region, properties such as villas, ranches and vineyards are usually held by their owners—often families— for many years, even decades. In Italy, it could possibly be hundreds of years. But demographic shifts in Italy are enhancing the potential to acquire these unique generational properties.

Legacies In Vail

In the Vail Valley, Michael Slevin, president of Berkshire Hathaway HomeServices Colorado Properties, says, “Even after the COVID rush, there is still high interest” in country homes. These are legacy properties that create generations of memories. When the right property comes to market, it generates a very high level of interest.” Only a handful of luxury ranches trade each year, so buyers understand it might be years before the next best option comes to market. Location remains critical, which in Vail and Beaver Creek translates into proximity to the ski resorts. “Owners want to be able to access the mountains and resort lifestyle and not have too far to get away from it all back at their ranch,” Slevin explains. Here, as all over the West, water is always desired and sometimes a critical factor, as is the ability to accommodate horses. Also, access to national forest and BLM lands regularly appear on wish lists.

Vineyard Heaven

Owners in the picturesque Santa Ynez Valley—45 minutes from Santa Barbara and 2 hours from Los Angeles—often have one foot anchored in their traditional lifestyle while the other rests in a new, exciting, relatively nearby place, shares Joe Ramos, of Berkshire Hathaway HomeServices California Properties. “I expect 2023 to be similar to 2022. Our local market is characterized by limited supply and seemingly constant demand,” he says, citing multiple incentives, including growing recognition of the valley as a world-class wine region.

Beyond the main towns of Santa Ynez, Solvang, and Los Olivos, parcels range from an acre to 20-acre ranches to huge spreads, often 100-plus acres. “Larger acreage provides the country lifestyle buyers flocking to this area desire. They covet the open spaces, privacy, beauty and entitlements, like horses, farm animals, vineyards, and orchards that come with the land,” shares Ramos. Prime considerations should be proximity to town, usable land, water, privacy, views, and infrastructure. Also, there is growing interest in the potential of living off the grid.

Equestrian Escapades In The Balearics

Few places evoke visions of sunny idylls more than Majorca. Unlike typical countryside settings, this island offers a unique array of attributes. “As Majorca is a beautiful island and the land is limited, it is always a privilege to be an owner of a ‘finca,’ as we call country properties here in Spain. It is an opportunity to have everything you need: nice country property, sea, mountains, culture, city, international schools, shops, sports possibilities, et cetera,” shares

Jorge Forteza with Berkshire Hathaway HomeServices Nova Mallorca, Spain.

Majorca is one of the Balearic Islands, an archipelago off the Spanish mainland that also includes Menorca, Ibiza, and Formentera. Here, equestrian opportunities enhance the attraction for native buyers and those from Germany, Scandinavia, France, and Britain. “In the Balearic Islands, we love horses. The climate is mild, and we have sunny weather throughout the year, so it is perfect to practice equestrian sports.” Some keep their horses on their fincas, while others board at one of the many equestrian clubs.

Potential buyers of rustic/country properties should be “aware of current standards to build or rebuild, of the land classification, and restrictions. And all nonEU members also need special Spanish military permission to buy country land in the Balearics,” he explains.

Cozy In The Cotswolds

In the United Kingdom, demand for country homes comes primarily from domestic buyers, according to Martin Bikhit, owner of Berkshire Hathaway HomeServices London Kay & Co and Berkshire Hathaway HomeServices Marler & Marler. “The growth (in demand) was massively accelerated during the height of the pandemic and immediately after. That is now slowing, and we’re sort of returning to a more normalized market in terms of country home sales, whereas London, central London in particular, does seem to have had a resurgence.”

Rural locations where global buyers gravitate include areas of the Cotswolds, which is often considered the Hamptons of the United Kingdom. Large estates in St. George’s Hill, Surrey, are popular as well. Overall, the country home market is very diverse, with a combination of new builds as well as homes dating back to the 17th century.

Learning The Country Way

Buying a country property can be complicated depending on the type of property and location. For example, Italy has a “fantastic taxation system for high-net-worth individuals,” according to Benussi. But navigating the options can be complicated. Additionally, only about 30% of properties are listed with a broker, so having a well-connected agent who works with high valued properties is essential. Benussi emphasizes there are numerous advantages and opportunities for buyers seeking high-end properties. And the range of properties from castles to vineyards to agricultural and historical estates is equally extensive.

“I’d encourage any international buyer looking to buy a country home to engage an agent who specializes in luxury country homes to ensure that they don’t miss— that they avoid—any potential pitfalls,” says Bikhit.

“It’s important to understand the full scope of the day-to-day operations and what it entails before diving into a working property. Whether it’s a working farm; vineyard; winery; tasting room; or raising horses, cattle and other farm animals, it’s often a 24/7 job, not to mention the overall maintenance of the property,” shares Ramos.

Lastly, he says, “Don’t try to reinvent the wheel. What you’re acquiring likely took decades to get where it is today, and it’s crucial to rely on key people and companies to help you excel and ‘teach you the ropes’ in your new venture.”

178-180 Scraggy Neck Road, Cataumet, MA

This one-of-a-kind trophy estate offers the finest resort-style living on a private peninsula of 17.5 acres. The property has a substantial deep-water dock, multiple sandy beaches, a 9,553-squarefoot main residence designed by award-winning architect Doreve Nicholaeff, and a 3,363-squarefoot, 3-bedroom guesthouse. Other amenities include a tennis court, indoor and outdoor pools, a gym, sauna, steam shower, and locker room. An entertainer’s dream, the chef’s kitchen is open to the main living area and has double-height ceilings, a built-in banquette overlooking the harbor, top-of-the-line appliances, and a butler’s pantry. Panoramic views abound, including in the stunning primary suite, and at the top-floor observatory/lounge with wet bar. Located in Cataumet, one can take a boat across the harbor to the Chart Room or enjoy day trips to Martha’s Vineyard or Provincetown. Just a 1-hour drive from Boston or Providence. $13,950,000