With the high cost of real estate in Toronto pricing many first-time homebuyers out of the market, millennials are starting to look outside the city — way outside.
They’re not looking with the intention of buying a home, but rather buying a recreational property like a cottage, cabin or ski chalet.
A report released this week by RE/MAX and Leger said almost two-thirds of Canadian millennials would consider buying a recreational property in the next 10 years.
Adrienne Atkins, 29, falls into this group, having just recently bought a property in Grand Bend.
“It’s really unaffordable in the city, I wanted a bit more bang for my buck,” Atkins said. The Yonge and Eglinton resident doesn’t yet know if she’ll make Grand Bend her forever home, but said she would consider moving if she could find flexible work.
Full article here: https://www.cbc.ca/news/canada/toronto/home-ownership-cottages-popularity-1.4185793
Reprinted from cbc.ca