23 May 2011

Survey: 89 percent of Canadians say a vacation home is a worthwhile purchase

Some people purchase big ticket items that they later regret, but according to a new poll, recreational properties aren't one of them.

According to a new poll conducted by Royal LePage Real Estate Services, an overwhelming number of Canadians are pleased with their vacation home purchase. Overall, the survey found that 89 percent of people who currently own a vacation property said it was a good long-term investment. Broken down by province, 87 percent of Ontarians indicated as such.

"Canadians' confidence in recreational property values is mirroring what we have been seeing in Canada's urban centres," said Phil Soper, president and CEO of Royal LePage. "Canada's traditionally buoyant recreational property market appears to have found its groove once more."

The survey also analyzed what the average cost was for recreational homes from province to province. A standard waterfront, land-access property in Ontario can run between $150,000 and $750,000.

Recreational homes can get cluttered just as easily as regular homes. Toronto storage is something vacationers may want to consider to make their stay more enjoyable.  

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