Young Canadians are increasingly turning to recreational properties as a strategic entry point into the country's expensive housing market, according to a new Leger survey for Re/Max Canada.
Nearly half (45%) of prospective buyers say they plan to purchase a cottage or cabin as their first step toward homeownership. Among those aged 18 to 34, 54% view recreational properties as a key part of their long-term financial plan, compared with just 30% of those 35 and older.
"Recreational properties are no longer viewed solely as discretionary purchases, but instead as a foothold into homeownership with long-term value potential," said Don Kottick, president of Re/Max Canada.
Six in 10 buyers seek recently renovated properties that can be used year-round. However, 28% of current owners plan to sell due to return-to-office mandates, and 14% of non-owners cite in-office requirements as a reason not to buy. Two in five respondents said they would struggle to afford maintenance if they inherited a recreational property.