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Tuesday, March 24, 2015

Cottage real estate market in Ontario warms up for 2015

A piece of paradise in Ontario cottage country
Toronto --  Families who are researching a vacation property purchase this year should put the Spring Cottage Life Show on their list of events to attend. It all happens March 27-29, 2015 at The International Centre, Mississauga, ON.

There are bargains in cottage country, but you have to know where to look to find a piece of paradise.  This one-stop shopping event will provide an opportunity to speak to more than 100 realtors and developers representing thousands of recreational and waterfront properties.

Canadian bank economists’ analysis for 2015 is positive in that it suggests the existing employment rate of under 7% reflects health in the labour market as retirees exit the work force.

This also means a shift in existing baby boomer real estate holdings in urban centres as they downsize to more manageable condos in city centres, or move out of the city to areas that offer full services, but in a smaller community.  Cottage country may, for some, be considered as a new year-round housing and recreation option.


Cottage shopping without leaving the city
The Scotiabank Cottage Real Estate Centre is where cottagers-to-be can meet with realtors from all over Ontario’s cottage country. With thousands of listings being shown, it’s the only opportunity of the year to comparison-shop and dream a little without leaving the city. Our realtors have an intimate knowledge of their regions, making them a valuable source of advice for cottage buyers.

Creative Financing
The experts from Scotiabank will be on hand to answer questions about cottage financing, lines of credit and how to make it all work. If the property being considered is a diamond in the rough, there are some creative financing options to assist in renovating or building the ideal cottage.

According to Rob Serediuk, a sales representative with Chestnut Park Real Estate Brokerage, Limited and the host of What’s For Sale? on Cottage Life television, two groups of buyers are driving the majority of recreational sales in Canada. “Families with younger children who have built up equity in their primary residence,” says Serediuk, “are using that money to purchase their first cottage. The second group of buyers are recent retirees who are purchasing with a plan to use as their future primary residence.”

Serediuk highlights these trends in the recreational real estate market as the 2015 buying season kicks off this month:

    I want to rent it when I am not using it.  On What’s For Sale? season 2, at least half           of Serediuk’s buyers purchased with the intention to rent when they are not using          it for themselves. It’s a great way to offset costs.

   Bigger is not always better. Maintaining a cottage can be a lot of work. Today’s savvy    buyer is looking for a well-designed cottage. Family and entertaining space is the         priority making an open-concept main level, outdoor decks, and screened-in rooms            high on wish lists, while size of bedrooms and square footage take a lower          priority.

    Will you drive another 45 minutes to get what you want?  The further you are     willing to drive from a major urban center, the more bang you will get for your dollar. As buyers become more educated on value they are starting to expand their drive             time to get the perfect cottage on the perfect lot.

On the Cottage Life Main Stage, Rob Serediuk offers a lively interactive quiz show format about searching for the perfect cottage. Also on the Main Stage:

  • Realtor Chris Winney of Royal LePage ProAlliance Realty Brokerage shares her tips for defining value in a cottage search
  • Lawyer Peter Lillico talks taxes and gives advice on reducing the capital gains tax burden
  • Scottish design duo Colin & Justin dish about their recent cottage purchase and subsequent reno, which was captured for season two of Colin & Justin’s Cabin Pressure on Cottage Life television, and is also featured in their design column in Cottage Life magazine.
Created for cottagers, by cottagers, The Spring Cottage Life Show is the only show of its kind, with more than 550 exhibitors, plus exciting and informative feature areas and seminars. Since 1994, this event has been a sure sign of spring, as cottagers (and cottagers-to-be) get ready to kick off another season at the lake.

For the latest additions, online tickets, event times, and more info about The Spring Cottage Life Show, visit cottagelife.com/shows.

SPRING COTTAGE LIFE SHOW

2015 Show Dates and NEW TIMES                               

Friday, March 27      10am – 8pm
Saturday, March 28  9am – 7pm
Sunday, March 29    10am – 5pm

Admission
Adults:                                   $18
Youth (13-17):                       $9
Children 12 and under:       Free!
Weekend pass:                     $26

Box Office Only Specials
Seniors (65+): $13 on Friday, March 27
Save $4 after 4pm on Adult tickets on Friday & Saturday: Regular price $18 – special $14
  • Online tickets are available at www.cottagelife.com/shows
  • See the ad in Cottage Life magazine’s Spring issue for a discount coupon.
  • Parking for more than 5,000 cars is FREE at The International Centre.

The International Centre                                                              
6900 Airport Rd. at Derry Rd.                                                       
Enter at Halls 1, 2, and 5                                                                
Mississauga, Ontario

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