Time to Buy A Recreational Property?

(December 18, 2013 , posted in Buying)

Have you ever thought of owning a recreational property? .. kids jumping off the dock, parents unwinding with food and wine, a sky filled with stars you can actually see and could never count.. close enough to home that it’s easy to get away but a sanctuary where you feel a million miles away from the hustle and bustle of city life.. a time to recoup.. a place to relax.. a property to retreat from the world..
In B.C. there are many incredible opportunities – from the Sunshine Coast to the Gulf Islands to the Okanagan.. the time to buy into a recreational piece of land, a seaside cottage or a lakeside cabin has nearly never been better.

“It’s been a soft five years for recreational property markets, with improvement slow, but consistent,” says Gurinder Sandhu, Executive Vice President, Regional Director, RE/MAX Ontario-Atlantic Canada. “Given the steady momentum of today’s market, there are indications that 2013 could emerge as the turning point. Excellent value exists in cottage/resort communities from coast to coast at present, and purchasers are starting to hone in on that fact—but the window of greatest opportunity is likely drawing to a close.”
The following chart shows how prices have come down over the past five years from left to right – the far right column being 2013.

recreational property stats for BC 2013

Having lived in the Okanagan and also having been fortunate enough to travel the Islands and just returning from a week on the Sunshine Coast visiting with friends and family, parents of friends who are retiring and family friends just enjoying a getaway so close home but such a fabulous escape, I can honestly say that B.C. is ripe with recreational property opportunities and I have a ton of information to share with anyone who may be interested. EMAIL ME if you would like to know more.