The Garage Sale Luxury Auction House announced the sale of Nautica Vista, a private luxury lakeside mansion located in the exclusive Sheerwater development in Kelowna, B.C. Nine bidders competed during a live auction to own the property.
Nautica Vista is one of the Okanagan’s most spectacular homes. On Tuesday June 25 it was sold by unreserved auction for $4.7 million making it one of the highest selling homes in the history of the Okanagan real estate market.
The home boasts an incredible 6,400 square feet with 5 bedrooms and 5.5 bathrooms. Features include an elegant kitchen with luxury commercial grade appliances, in floor heat throughout, an air cooking space, luxury spa and infinity pool, yoga studio, hot tub, 1,200 bottle wine cave and over 5000 square feet of deck and outdoor living space.
What would it cost to own this home? Well if you can come up with the 5% down payment required up front, that’s $235,000. If you acquire a mortgage with a 5 year fixed rate at today’s best rates and amortize it over the standard 25 years, your payments will be an astonishing $22,639 per month! In order to qualify for a mortgage of this size you will need to earn a salary of approximately $775,000 per year…do you qualify?
