Yukon houses sell for $5,000 in Faro

Sales are well underway in the Municipality of Faro, Yukon, where properties have been available since last year at prices as low as $ 5,000.

The condition of the sale however is to undertake renovations within the first three years of purchase.

It’s a facelift for the village of 400 inhabitants who found themselves 30 years ago practically abandoned after the closure of the mine.

Last year, the municipality finally obtained the titles of ownership of 170 homes so as to destroy the most damaged and sell the others. Some properties are multiplexes, others are single-family homes or land.

The general manager of Faro, Ian Dunlop, says that the difference can already be seen in the village.

They are no longer abandoned and forgotten housing. People are renovating them.

Ian Dunlop, Managing Director of Faro

More than half of the properties have been sold or are about to be sold, much more than expected, says the director who is eager to see if the village population has increased.

For those who like Tina Freake saw the village empty at the time, the current scene is encouraging. “I think a lot of people are attracted to Faro and would like to live here, but there is no rental housing available. I think it will be good for the community to see more housing on the market. ”

She and her husband bought a four-unit property for just under $ 10,000 and are currently doing one-to-one repairs to lease them.

Tina Freake says that the work is mainly aesthetic in addition to windows and roof to change. The resident believes that the significant cost of the work will yield in the future.

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