Royal LePage Summer 2009 Recreational Property Report

As one of Canada's leading authorities on cottage and recreational properties, Royal LePage have just released the summer 2009 edition of their Recreational Property Report.
Given the uncertainty of our economy, significant layoffs particularly in the auto sector and tighter lending conditions, this edition of the report was approached with a degree of caution, fearing that Canadians would be shying away from purchasing a secondary property. Surprisingly, many Canadians (64%) still maintain their belief that a cottage or other property purchased for recreational use is still a very good investment. Of these, 55% said they would be willing to make significant financial sacrifices in order to fulfil their desire of owning a summer cottage, ski chalet/condo or other form of recreational property.
The survey also found that 89% of Canadians think a cottage is a great place for family to gather, and 86% think a cottage is a great way to escape the city and today's hectic, stress-filled lifestyle. Having grown up enjoying the cottage lifestyle and now as a waterfront owner myself, I can attest to this belief. Is it costly to own and maintain a second property? To some degree it certainly is but so are a lot of life's other pleasures ie: my costs are less than some annual golf course dues etc. The cost of ownership seems to dissipate once you arrive at your particular getaway when those costs are weighed against the enjoyment such ownership delivers. That continues to be one of the main drivers that propels the ongoing sale of Collingwood area real estate. Seldom do my recreational buyers regret their purchase and find that they are not using the place and want to sell. Typically it's the other way around wherein after a year or so they are using the place so much, they are ready to move up to something larger.
If you are contemplating purchasing a recreational property in 2009, the Royal Lepage Recreational Property Report can be a big help in determining what and where is the best place for you to buy and the relative costs. For further information on local market conditions and or to ascertain where to find the best values in the Georgian Triangle, please do not hesitate to contact me.