We Canadians are lucky to have an incredible amount of water; from the Pacific to the Atlantic, to the Great Lakes and the not-so-great lakes in between. Of course everyone wants a gorgeous waterfront property, but how many of us can afford to basically buy another home?
Unfortunately, the reality is that vacation home prices are not that far off. Waterfront properties are always desirable, and if outfitted with utilities and close to amenities, you're looking at an average budget of $400,000.
So what does the typical vacation home budget of $400,000 actually buy?
Galiano Island, BC
295-19680 Porlier Pass
List price: $475,000
THE 'CABIN': Busting the budget
isn’t difficult in BC but this secluded 1150 sq ft cabin with three
bedrooms and three bathrooms on 2.39 acres overlooking Spotlight Cove
also includes a fully equipped lower level guest suite with great rental
potential.
AGENT INFO: Shirlene Raines, Gulfport Realty
It’s no surprise that the most expensive recreational properties (sorry, blew the budget!) can be found in BC, where average waterfront retreats range from $350,000 to $1.5 million. On the positive side, waterfront cottages -- sorry, 'cabins' -- within close driving distance to Vancouver or Victoria are plentiful. Galiano Island, located less than an hour by ferry from the mainland, is one of the least developed of the Gulf Islands, as nearly half the island is a protected forest zone.
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Adolphustown, ON
11128 Loyalist Parkway
List Price: $399,900
THE COTTAGE: This 1200 sq
ft three bedroom, one bathroom period home with 600 ft of waterfront is
believed to be part of a 1700’s British barracks. A small window on
the upper level is characteristic of where a cannon might have been
stationed and the house sits on a peninsula with a fabulous vantage
point of the surrounding area.
AGENT INFO: Gail Forcht, Chestnut Park Real Estate Ltd.
As the Toronto real estate market softens, prices in Ontario cottage country are on the rise. Prince Edward County is steadily catching up to Simcoe and the Muskokas, offering the best of both worlds. The dunes and large stretch of beach at Sandbanks Provincial Park goes well with artisanal lunches at the region’s many wineries and local cafes.
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Goose River, PEI
45 Old Queens Road
List Price: $389,000
THE COTTAGE: This 1750 sq ft three bedroom, three bathroom home on a private 250 ft
oceanfront sandy beach has fantastic views and includes 4.6 wooded
acres.
LISTING AGENT: Gerald Thompson, Century 21
With average cottage prices topping out at $200,000, PEI is a great
choice for budget-conscious buyers. The vivid colours of bright green
hills and red beaches make this a magical, other-worldly destination,
although be prepared for unpredictable summer weather. Kings County,
located at the eastern tip of the island, might be the only area where
finding Anne of Green Gables memorabilia proves tricky. While retaining
its rustic charm, Kings County has also become a destination for
foodies – the Inn at Bay Fortune is where Michael
Smith, star of Food Network's Chef
at Home, became famous.
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By: Samantha Mastai of www.thehousefly.ca
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