RE/MAX released their annual Recreational Property Report for 2017, and here are 3 interesting facts:
- 43% of Canadians would consider buying a cottage or some type of recreational property in the next 10 years.
- 28% of Canadians with children under the age of 18 would consider selling their primary residence in order to help finance the dream recreational property.
- 56% of Canadians spend time at a cottage to find peace and quiet.
There is also a trend for people to consider fractional ownership, by buying the recreational property with a friend, a family member or by renting out on websites like AirBnB.
A large number of recreational property buyers are young families with children and retirees, who are selling their homes and in turn buying cottages.
But they’re not the only group expressing interest in recreational property ownership. A Leger’s survey of Canadians, showed that 65% of millennials are planning to buy a cottage, cabin or ski chalet in the next 10 years. Some of them would consider this as an investment vehicle too.
Featured recreational property locations in Ontario are:
- Thunder Bay
- Manitoulin Island & The French River
- Lake Huron
- Georgian Bay
- Lake Simcoe & Area
- Muskoka & Haliburton
- Peterborough & The Kawarthas
- Rideau Lakes Region
See the full 2017 RE/MAX Recreational Property Report.