Thinking of Buying a Cottage

Royal LePage has released its 2016 Recreational Housing Report, an annual report that compiles information from a cross-Canada survey of real estate advisors who specialize in recreational property sales.
The report found that Generation X buyers of cottages, cabins and chalets across Canada outnumber Baby Boomers by almost two to one. The survey found that 65% of advisors polled indicated that potential purchasers were considering their retirement needs in deciding to buy a recreational property, while a significant number of respondents (88 per cent) said that potential purchasers identified desired lifestyle and vacationing as their main purpose. 
Across the country, roughly two-thirds (67 per cent) of those polled said they have seen increases in sales over the past 12 months, and over half (53 per cent) expect sales activity in 2016 to exceed 2015 levels.
In Ontario, slight increases over last year were reported in both price and sales volumes across the recreational property communities studied, with inventory levels slightly down in most markets. Looking ahead, Ontario's recreational property markets are expected to be active for the remainder of 2016.
To read the full report, click here!