Like many realtors working Canada91裸聊视频檚 recreational markets, David Jurek says he91裸聊视频檚 seen properties move unusually quickly since the start of COVID-19.
The RE/MAX real estate agent in 100 Mile House, B.C. recently listed a $140,000 home in an off-the-grid region where he91裸聊视频檚 had difficulty in the past: 91裸聊视频淭he last and only sale that we had there took about three years to sell,91裸聊视频� Jurek says. 91裸聊视频淚 listed this property thinking, 91裸聊视频榦kay, well, this year maybe we91裸聊视频檒l get more action.91裸聊视频�91裸聊视频�
But shortly after listing, Jurek started receiving daily inquiries on the house. Before long, he had three offers on it.
91裸聊视频淪ome of the stuff that normally would sit, that wasn91裸聊视频檛 as choice of a property necessarily in the past is now selling very quickly,91裸聊视频� Jurek says.
He attributes the quick heat-up in the B.C. recreational property market to COVID-19 lockdown orders, part of a growing trend in which Canadians are looking to vacation property in search of space, an alternative place from which to work remotely or a driveable vacation destination while travel is not an option.
91裸聊视频淧eople who maybe weren91裸聊视频檛 in the second home and recreational market [before] are now saying, 91裸聊视频楬ey, we need to do that. If we can make it happen let91裸聊视频檚 make it happen,91裸聊视频�91裸聊视频� Jurek says.
He91裸聊视频檚 seen month-over-month sales increase by an estimated 30 per cent in his region since the start of the pandemic. And while demand has risen across the market, he says prices have yet to climb to match, so those looking to buy should explore their options quickly.
The same has occurred in the greater Vancouver region, home to the Sunshine Coast and Whistler, according to Colette Gerber, realtor at Sutton West Coast Realty and chair of the Real Estate Board of Greater Vancouver. 91裸聊视频淟ast month we saw a 21 per cent increase in sales,91裸聊视频� Gerber says. 91裸聊视频淪o, yes, it looks like vacation homes are now becoming a hot commodity.91裸聊视频�
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The Muskoka region and other parts of Ontario91裸聊视频檚 cottage country have seen similar upticks in demand, according to David Reid, sales representative at Enjoy Muskoka Realty in Gravenhurst, Ontario, and former president of the Ontario Real Estate Association. 91裸聊视频淥ne of the big drivers really is high speed internet,91裸聊视频� he says. 91裸聊视频淵ou91裸聊视频檝e got such great quality internet now and the paradigms have changed.91裸聊视频�
Not every cottage comes with strong cell or web service, of course, and for many this is a non-starter. Those unfamiliar with the area in which they91裸聊视频檙e shopping should look for a realtor who knows the region well, all three agents suggest.
While this rule typically goes without saying, it91裸聊视频檚 especially important when searching for lakefront, rural, and two- or three-season properties, which come with their own quirks. In B.C., for example, it91裸聊视频檚 important to understand the underground system from which a property sources its water, Gerber says. 91裸聊视频淵ou need local knowledge to know what the ramifications are, how to deal with a well, how to deal with septic fields,91裸聊视频� she says.
And in lake country, buyers should understand the permitting rules and nuances of the specific piece of water they91裸聊视频檙e looking at. A good realtor with hyper-local knowledge can help with this.
91裸聊视频淲e do have a lot of waterfront, but it can be very different from one lake to the next,91裸聊视频� Jurek says of 100 Mile House. 91裸聊视频淎re you wanting to buy that second property and be able to waterski or are you just wanting to be able to fish? What lake you back on to [determines] what you can expect that you can do there.91裸聊视频�
Recreational properties also come with their own specific maintenance requirements. While year-round homes have owners91裸聊视频� constant attention, summer spots need an extra set of eyes (and hands, in the event of snowfall) during colder months.
Reid suggests finding a helpful neighbour or enlisting the services of a local road maintenance or cottage sitter program, like Muskoka Cottage Sitters, which typically comes with fees of a few hundred dollars per month but offers owners peace of mind and protection from accidents.
In addition to maintenance fees, prospective buyers should budget for repairs and winter-proofing expenses 91裸聊视频� such as replacing windows, adding insulation, and updating utilities 91裸聊视频� which can run in the thousands depending on what a home needs. Ensuring that a house is protected from winter weather will 91裸聊视频渒eep insurance happy,91裸聊视频� Jurek says. 91裸聊视频淚f you don91裸聊视频檛 follow the proper procedures and you have a problem, you don91裸聊视频檛 want to be denied the claim.91裸聊视频�
While the costs of owning vacation property go far beyond a home91裸聊视频檚 sale price, first-time buyers shouldn91裸聊视频檛 be intimidated. Go into the process with eyes wide open, do your research, spend a few days in the area, and ask your realtor as many questions as possible. The more you know about a home, the better.
91裸聊视频淭he best way to find a vacation home is start driving,91裸聊视频� Gerber says. 91裸聊视频淕o to these areas. Look around.91裸聊视频�
Audrey Carleton, The Canadian Press
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