“In a poll commissioned by the realtor group commissioned by research firm Leger of 1,538 Canadians between March 8 and April 11, more than one in five Canadians said they would consider downsizing their main residence in order to find the cash to fund a recreational property.
“The cottage and cabin lifestyle is very much in demand and Canadians are looking for alternative ways to finance their dream property,” ReMax spokesman Elton Ash said in a release.
Many are using the cottages themselves to help fund their payments. “There has been a significant increase in buyers who are planning to rent out their recreational properties part- or full-time,” ReMax said.
Across the country, two-thirds of respondents said they would rather spend a long weekend at the cottage or cabin than go on a big city getaway. And more than 40 per cent said they would likely give up going abroad for their summer annual vacation if it would mean they could afford to get into Canada’s recreational property market.”
Wayne’s Comment – Since the beginning of my work year Mid April I must say I’ve talked to more buyers from Edmonton and Calgary that are considering a full time move to the lake to either commute to work or just out right retire. The down turn simply may not come. The trajectory of the baby boomers may just create the demand our local market needs to by pass the slow down in the oil and energy sector.
I invite you to come out and look at our market today!