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Nearly 60 per cent of British Columbians believe a cottage is a good long-term investment, according to a national survey released Thursday.
While Royal LePage`s Recreational Property Report concluded that 59 per cent of people in B.C. believe a cottage is a good long-term investment, Albertans and British Columbians, at 62 per cent, are also the most willing Canadians to make financial or lifestyle changes in order to buy a recreational property.
One in five British Columbians (22 per cent) would purchase with friends or family members, the highest rating in the country, 13 per cent would rent out during the year, and 11 per cent would move into a smaller, more affordable residence. Sixty-three per cent of British Columbians said they would be most likely to purchase a cottage on a lake, the survey concluded.
The survey found that, like other Canadians, 87 per cent of B.C. residents think a cottage is a great place for family to gather and 56 per cent ranked peace and quiet as an important feature. Forty-eight per cent cited access to utilities as important and 37 per cent cited four-season use as a priority.
One in five British Columbians ranked an eco-friendly site as a priority, while access to boating and fishing also ranked high.
According to the survey, B.C. — with average prices ranging from $530,000 to $880,000 — is the most expensive province to buy a standard waterfront, land access cottage with 1,000 square feet, three bedrooms and a 100-foot lot.
Read the full article here.
While Royal LePage`s Recreational Property Report concluded that 59 per cent of people in B.C. believe a cottage is a good long-term investment, Albertans and British Columbians, at 62 per cent, are also the most willing Canadians to make financial or lifestyle changes in order to buy a recreational property.
One in five British Columbians (22 per cent) would purchase with friends or family members, the highest rating in the country, 13 per cent would rent out during the year, and 11 per cent would move into a smaller, more affordable residence. Sixty-three per cent of British Columbians said they would be most likely to purchase a cottage on a lake, the survey concluded.
The survey found that, like other Canadians, 87 per cent of B.C. residents think a cottage is a great place for family to gather and 56 per cent ranked peace and quiet as an important feature. Forty-eight per cent cited access to utilities as important and 37 per cent cited four-season use as a priority.
One in five British Columbians ranked an eco-friendly site as a priority, while access to boating and fishing also ranked high.
According to the survey, B.C. — with average prices ranging from $530,000 to $880,000 — is the most expensive province to buy a standard waterfront, land access cottage with 1,000 square feet, three bedrooms and a 100-foot lot.
Read the full article here.