Key Findings from the 2018 RE/MAX Recreational Property Omnibus Survey
1. One-quarter (24 per cent) of Canadians would consider buying a recreational property in the future.
2. Canadians cite the following reasons to own or want to own a recreational property:
- It is where I can go and relax and spend time with friends and family = 58 per cent
- It is a getaway home = 46%
- I can do activities I can’t do at my permanent residence (hiking, fishing, etc.) = 46%
- It is an investment property = 33%
- It is a retirement home = 19%
- Other = 4%
3. Canadians identify the following sources of down payment when considering their current recreational property or their next purchase of a recreational property:
- Savings = 54%
- Loan = 20%
- Home equity = 20%
- Inheritance = 11%
- Other = 4%
- I don’t know = 11%
- I prefer not to answer = 3%
4. More than two-thirds (68 per cent) of Canadians who own or are considering owning a recreation property are willing to travel up to two hours, with 31 per cent saying they would travel two hours. Slightly less (28 per cent) are willing to travel three or more hours.
5. Canadians identify the following features as important when considering their current recreational property or their next purchase of a recreational property:
- Affordable purchase price = 64%
- Waterfront access = 55%
- Reasonable maintenance costs = 53%
- Proximity to town = 43%
- Reasonable distance from primary residence = 37%
- Relative seclusion = 33%
- Land access = 30%
- Proximity to sports/recreation = 25%
- Accessible medical facilities = 24%
- Nearby neighbouring properties = 15%
- Island property = 12 per cent
- Other = 1%
- None, don’t mind which features my recreational property has = <1%
- Don’t know/prefer not to answer = 3%
6. Canadians 55 and older (vs <55), who own or would consider owning a recreational property are significantly more likely to say waterfront access, reasonable maintenance costs, proximity to a town, reasonable distance from primary residence and accessible medical facilities are import
David Gharat
website: www.housecondopro.com
website: www.condostobuy.ca
website: www.dyghomes.com
website: www.housereport.ca
