Recreational Property Report

Victoria Day Weekend

The upcoming Victoria Day Weekend in Canada, often referred to as the May 24th Weekend, even when it doesn’t fall exactly on the 24th, is the official start of cottage season.

This is the weekend when many cottagers begin their summer season, the launch of what becomes their weekly pilgrimages to the camp. For some, this will be the first time they have seen their cottage in months.

It’s a busy weekend for many cottage folk, there are water pumps to connect, window shutters to remove, wharves to put in the lake, boats to service and beds and bedding to air out in preparation.

Recreational Property Report

It’s also the time of year when Royal LePage releases it’s annual Recreational Property Report.

The online survey was completed with a sample of 1,000 Canadians who currently own a recreational property or are looking to purchase a recreational property within the next five years. In addition to a survey, the report includes information on current property prices for a 3 bedroom 1000 square foot cottage on a standard 100 foot waterfront lot with land access.

Cottage Property Prices Less In The East

The property prices show that the Maritime Provinces and Newfoundland offer the lowest prices for a cottage compared to the rest of Canada where real estate prices are much higher. For example, $110,000 in New Brunswick compared to $500,000 in Muskoka.

The recreational property survey portion of the report reflects some interesting trends in cottage purchases, such as friends or family pooling their resources to buy a property together, people purchasing cottage property as an investment and whether or not purchasers and current cottage owners have considered renting their cottage as a way to offset purchase and maintenance costs.

Not surprisingly, prospective purchasers appear to be more open to the idea of renting their cottage to offset costs than do current owners.

What caught my eye were some of the pictures of “cottages” shown in the report. Many of them appear to be closer to homes than my idea of a cottage.

These are not your Grandaddys camp tucked away in the brush, blackflies and gnarly conifer trees on the rocky shore of Lake Buckwash.

These are more appropriately called summer homes, many of them coming close to the grand tradition of country estate properties, with large homes, attached garages, landscaped lawns etc.

If you are considering purchasing a cottage or already own one, this is an interesting report to read. You can find it here: Recreational Property Report.

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