Pauline Aunger, a Royal LePage broker based in the Rideau Lakes area, advises anyone who wants to buy a holiday home to do their homework first. Photo by Ashley Fraser / Postmedia
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Officers who want to dip their toes in the water of the countryside cottages might not have the boat if they believe in an organization’s 2022 forecast.
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Royal LePage predicts that house prices in Canada’s leisure areas will increase by 13 percent in 2022, with real estate demand exceeding the number available for sale. The rise in prices would not be as sharp as it was in 2021 – the agency said real estate grew by 26.6 per cent compared to 2020 – but it is clear that people are still hungry for holiday homes. Pauline Aunger, a veteran Royal LePage agent in the Rideau Lakes area of southern Ottawa, says it’s about this time of year when people call to ask about cottage properties. Pandemic-minded thinking, with long-distance job opportunities growing in traditional office-based industries, continues to fuel demand for cottages or capitals near waterfronts.
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“People still want to escape, but they think they use it all year round so they can work from their seaside property,” Aunger said on Saturday. “If you have good wi-fi, you can work anywhere.” They are also looking forward to retirement, when seaside properties could become their main homes, Aunger said. Rideau Lakes are popular with Ottawa residents because of their proximity, but they compete beyond eastern Ontario. Aunger sees more Toronto residents looking for more affordable beachfront properties and looking at Rideau Lakes. According to the analysis of Royal LePage, the prices for leisure houses in Rideau lakes increased by 25.6 percent in 2021 compared to 2020, with an average price of $ 609,000. Coastal properties in the area will cost $ 614,000 on average in 2021, an increase of 17 percent from 2020.
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While the pandemic has pushed buyers into the leisure property market, it has also persuaded property owners to keep the land instead of selling it and using the money for travel, Aunger said. As a result, fewer properties are being marketed, increasing demand and resale prices. However, the lure of sunset on pristine lakes and swimming in the backyard piers could wash away the serious questions that prospective cottage owners need to consider before getting rid of money for a seaside property. “You’re going to do some homework,” Aunger said. What are the off-road conditions and who owns the roads? What is the water source for the property? Will a heated water line be required for any winter use?
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Is the garbage collected or should you take it to a landfill? How far is the landfill? In addition, prospective buyers should check how many bars are displayed on their cell phones in the property. And don’t forget to ask about wi-fi. “It’s important to have a broker who understands the waterfront,” Aunger said. Aunger says it looks like prices for recreational properties near lakes will continue to rise because supply is extremely limited. “You build a new subdivision outside of Ottawa every day. “God just made so many lakes and we do not create new lakes,” said Aunger. “What we have is what we have.” [email protected] twitter.com/JonathanWilling
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