I’m on vacation this week, renting a cottage just north of Bayfield. Yeah, life is good. Living a simple life on Lake Huron, thoughts turn to buying a cottage and living like this more often.
A recent survey found that 47% of the population said that buying a recreation property is about lifestyle. Even in the face of tighter lending requirements, rising interest rates, and the HST, Canadians are confident in purchasing recreation properties as they say they improve the quality of life.
43% said a cottage was a good investment, down from 64% in 2009.
25% said they planned to rent out their cottage for part of the year, up from 13% in 2009.
15% said they would purchase a recreation property with family or friends.