With same sex orientation and unions being more widely recognized and accepted, LGBT buyers have burst into the real estate market. Finding a Realtor© who understands your lifestyle and needs is important. A LGBT Realtor© can be more in-tune with your needs, style, and budgetary requirements.

Toronto has many ‘gay friendly’ neighbourhoods outside of the Church Wellesley village but unfortunately not all Realtors© know of them. As a rule, in my experience, I’ve found most people generally accepting but some neighbourhoods are more accepting then others with services and shopping geared towards the LGBT community.

In my opinion, the most gay friendly neighbourhood outside of Church Wellesley village & downtown core is Riverdale / Leslieville. This neighbourhood sits just east of the Don Valley Parkway and south of The Danforth. Queen Street East is dotted with gay owned cafe’s, galleries, restaurants, & boutiques. It wasn’t long ago that this part of Toronto was tired and run down. It’s no longer this way. The appeal for Gays and Lesbians is it’s close proximity to the downtown core, Church Wellesley village, shopping, and recreation. Home prices in Riverdale range anywhere from approximately $350K for a fixer upper to approximately $900K or more for a larger home in prime Riverdale. The neighbourhood has a high concentration of gay and lesbian white collar professional couples who are ‘house proud’. There are also ultra chic lofts at Carlaw & Dundas that offer larger spaces and the advantages of condo loving without living downtown.

The Beach also offers some excellent choices for Gay and lesbians. Homes range from condos along the Boardwalk to large homes in the Glen Manor area. Queen street east is a shoppers and diner’s mecca. Quaint cafes and restaurants line the street with plenty of patios. A wide range of retail is available. The Beach tends to appeal to Lesbian and Gay couples who have a more laid back down to earth lifestyle but are still active. The boardwalk provide a large area for recreation, and running. Real Estate prices in The Beach tend to be higher around the $500K mark and up. It’s not uncommon to see Million dollar and up properties offered for sale in The Beach.

Cabbagetown, which is considered to be located downtown Toronto, sits east of Parliament Street & south of Bloor has always had an appeal to Gay and Lesbian home owners. It’s tree lined streets and quaint yet spacious Victorian town homes offer curb appeal, potential and a strong community feel. Cabbagetown is within walking distance to Church Wellesley Village, restaurants, transit, entertainment and more. It offers downtown living without the noise of living directly in the core. Having a house this close to the downtown core does have it’s price though. It is not uncommon to see homes for sale in this neighbourhood for approximately $700K and up. Particularly in the North end.

Church Wellesley village is considered Toronto’s primary gay village. Restaurants and shopping are king in this neighbourhood not to mention social venues & services geared towards Toronto’s LGBT community. At one time it was difficult to own property in this neighbourhood due to the limited selection and the abundance of rentals. In the last 10 – 15 years the neighbourhood has seen growth and gentrification with numerous new condo developments being erected. For active singles and couples this is a prime location with relative stability in real estate prices. A 1 bedroom condo can be purchased in this neighbourhood for approximately $270K and up.

Other ‘gay friendly’ neighbourhoods include:
-Queen West
-The Annex
-Yorkville
-Kensington Market
-The Distillery District
-St. Lawrence Market area
-Corktown
-Yonge & Eglinton / St. Clair
-Dufferin & Davenport
-Parts of Mississauga

If you have any questions about any of these neighbourhoods I would be happy to answer them for you.

Recently I tackled what will probably be the most difficult staging of my real estate career.  The smaller home, situated on a large lot in a desirable neighbourhood, was quite frankly a disaster when I first laid eyes on it.  Clutter ran rampant.  Dated wall paper adorned the walls. The pungent odour of cat urine assaulted my nose.  The walls, windows, and floors looked dingy.  I thought to myself, “What have I gotten myself into?  Where do I start?”

When consulting with the executors of the estate it was evident that they were overwhelmed by the state of the house and were not quite sure where to start.  Many of the homes like this one in the neighbourhood were being torn down and new monster homes put in their place due to the large lots sizes.  This posed the question of whether to completely empty it out and leave ‘as is’ or stage the home.  Ultimately we decided to stage the home but with a limited budget using the existing furniture in the home.  By doing so I wanted to appeal to the widest margin of buyers possible: Builders and people willing to move in and live.  If we left the home as it was the amount of persons interested in the home would be significantly reduced to builders.  Builders only make up a small percentage of prospective buyers.  If we didn’t do cosmetic changes, people not interested in remodelling would have difficulty visualizing themselves in the home, not to mention be turned off by the odour and grime.

When prospective buyers view a home many psychological factors come into play.  Something as subtle as a marked up wall can turn buyers off.  Clutter distracts from the architectural features of the home.  A piece of missing trim or loose door hardware can raise doubts about how the home has been maintained.  I’ve had buyers in this situation who raise the question, “What else has not been properly maintained and what problems are there that we can’t see?”   Bad odour is a big turn off.  Most people want to get away from unpleasant odours and as a result, when viewing a home with bad odours, buyers will often speed through and not take note of the features.  Quite often when recalling the property they’ll remember the home as the one that smelled bad.   Smell is also one of the biggest triggers of memories.  This is why many Realtors will bake cookies before an open house.  It triggers good memories and smells great.

Back to the subject house.  The first thing I wanted to do was go through the home and label all the furnishings and accessories we could use for staging.  Once this was done I arranged for the family to gather as many people as possible and order a dumpster.  Anything that the family did not want and was not salvageable for local charities was to be disposed of.   In one day we filled a large dumpster.  By cleaning out the home it created room to carry out the necessary improvements to get the home ready for sale.

Next up it was a thorough cleaning.  This entailed washing walls, spot removal, window cleaning, dusting cobwebs out of the corners and off the ceilings, thoroughly scrubbing down the bathrooms and kitchen, and polishing the furniture.  Already the home was smelling better and looking bigger.  All the clutter and odour were distracting from the great features that the home had to offer.  We also had the broadloom professionally steam cleaned.  Although this didn’t get rid of the cat urine odour completely it helped immensely.  The areas causing the odour were treated afterwards with an enzymatic spray that breaks down the urine on a molecular level to get rid of the smell.  Simple Solution

Once the cleaning was completed, wall paper was stripped and required painting completed.  We also decided to paint the vanity, walls and replace the dated floor covering and accessories in one of the bathrooms.  Surprisingly it cost less then $200 to bring the 1960’s powder room into the 21st century & look like a million bucks.   The window treatments in the bedrooms where also updated with simple white cotton shears to give the rooms a bright airy feel.

Furniture was then moved from one bedroom to another.  The difference was night and day.  One of the most common mistakes people make is placing too much furniture in their bedrooms.   This often makes a room appear smaller than it really is and distracts the viewer.  We followed suit with the rest of the rooms.  Organizing, repositioning furniture, & placing accessories.

As a result of our labour we had a home that appealed to the largest array of buyers and were able to offer it for sale at a higher price.  Here’s a recap of things to do when staging.

1. De-clutter.
2. Clean thoroughly.  Light fixtures, walls, ceilings, windows, and the obvious things like kitchens(this includes de-greasing and cabinets) and bathrooms.
3. Touch up paint and repaint if necessary.
4. Consider stripping outdated wall paper.
5. Reposition furniture to improve flow and openness.
6. Get rid of offensive odours.
7. Consider renting furniture to update a room’s look.
8. Place accessories but not too many that they distracts from the room and house itself.
9. Consider doing minor cosmetic updates to bathrooms and kitchens.  They’re more affordable then you think.
10. Use nice bedding and make use of pillows and throws to create an inviting look. Good, fluffy towels in the bathroom help create an image of luxury and comfort.

If you are interested in viewing this property or selling your home please contact me.

[Show as slideshow]

Wood-burning
Wood-burning fireplaces are great for those who love the majesty of an open fire, the smell of burning wood, and the sound of crackling logs.   However, you may not know that older wood-burning fireplaces are not very energy efficient and can actually pollute the environment.  The good news is that there are newer, safer, and more advanced wood-burning fireplaces available.  Look for models that are certified by the U.S. Environmental Protection Agency (EPA)*, as they emit 90% less smoke than traditional wood-burning fireplaces and distribute heat better in your home.

Electric
Electric fireplaces are the perfect way to set the mood, and temperature, at the flick of a switch.  They are safe, convenient, low-maintenance, and cost little to install.  Although electric fireplaces probably won’t add to the value of your home like other types might, they are great for small spaces and don’t require a chimney or outdoor venting.  Most models also come with the option of having the decorative fire turned on while the heating element is off: a great feature if all you’re looking for is a little ambiance.

Gas
Gas fireplaces are popular options because they are clean burning, efficient, and don’t even require a chimney.  Although they may not offer the same flame sensation as real wood-burning fireplaces, gas is more energy efficient and you won’t need to worry about cleaning up woodchips or ashes.  They also distribute heat better and provide a constant supply of fuel, even if the power fails.  Look for models that have an Annual Fuel Utilization Efficiency (AFUE) rating; the higher the rating, the higher the efficiency.

Other Options
If you already own a fairly old or outdated fireplace, there are still options available.  Electric and gas models, for example, are easy to upgrade or replace entirely if you’re looking to make your fireplace more energy efficient.  Similarly, you can purchase inserts for traditional wood-burning fireplaces that cause less harm to the environment and improve heating efficiency.  And if you want to experience an open fire a little closer to nature, consider buying an outdoor fireplace.  Outdoor fireplaces come in many shapes and sizes; just make sure to check your local municipality’s by-laws for safety regulations.

*Note: The standards set by the U.S. Environmental Protection Agency are also applicable in Canada.

Source: Royal LePage Estate Realty: Brokerage
Updated March 2008

The conveyance of real property results in the payment of certain expenses by the parties involved. Set forth below is brief summary of theses expenses, that are incurred when transactions are handled properly and professionally, viewed both from the position of the Buyer and from the position of the Seller. Buyers should budget approximately 2-3% of the purchase price for closing costs.

Provincial Land Transfer Tax

This is paid by the Buyer at the date of the final closing to the Minister of Finance pursuant to the Land Transfer Tax Act. The tax is based on the purchase price and the current rates became effective on June 1st,1989.

The rates are as follows for a single family residence:

$0 – $55,000 .5% (0.5% of $55,000 is $275)
$55,001 – $250,000 1% less $275
$250,001 – $400,000 1.5% less $1,525
$400,001 and up 2.0% less $3,525

Example: To calculate the land transfer tax on a purchase price of $275,000, multiply the purchase price by 1.5% and deduct $1,525 ($4,125 – $1,525 = $2,600)

FIRST-TIME Buyers of both new and re-sale homes are eligible for a rebate of the provincial land transfer tax of up to $2,000.
The Ministry of Finance has indicated that, until the legislation regarding this rebate is passed, first time buyers can submit their applications for the refund and they will be processed once the legislation has passed.

Toronto Land Transfer Tax

This is paid by the Buyer at the date of the final closing to the City of Toronto. The tax is based on the purchase price and the current rates became effective on February 1, 2008.

Residential:
· 0.5% of the amount of the purchase price up to and including $55,000
· 1% of the amount of the purchase price between $55,000 and $400,000
· 2% of the amount of the purchase price above $400,000
FIRST-TIME home buyers of new AND re-sale homes will receive a rebate of the Toronto land transfer tax of up to $3,725 (this equals a 100% rebate on homes purchased for up to $400,000) for purchases of more than $400,000.

Disbursements – Purchase

In addition to the payment of Land Transfer Tax, Buyers are responsible to pay for certain disbursements incurred by their lawyer in respect of various certificates, searches and registrations. Examples of such approximate disbursements are as follows:

i) Registration of Deed $ 70.50
ii) Registration of Mortgage $ 70.50
iii) Disbursements (including search costs & office costs) $400.00

For a typical purchase (including one mortgage), a Buyer should budget about $550.00 for disbursements. There will also be further costs for adjustments, land transfer taxes and legal fees.

Title Insurance

Title insurance insures against past problems that could affect your ownership in the future. A low, one-time premium covers you for loss or damage up to the policy amount and all legal costs you would have to pay to defend your title. Once the policy is issued, a covered title problem is not your concern, it becomes the responsibility of the Title Insurance Company. No survey is required by your lending institution if you have title insurance.

Houses up to six units up to $750,000  – $135.00
Houses up to six units over $750,000 – $135.00 + .99/$1000 over $750,000
Condominiums up to $750,000 – $100.00
Condominiums over $750,000 – $100.00 +.99/$1000 over $750,000

Disbursements – Sale

The Seller in a real estate transaction is not required to pay any Land Transfer Tax. However, the Seller’s responsible to pay for certain disbursements incurred by their lawyer such as:

Registration of a Discharge of Mortgage – $ 70.50
Disbursements (including transaction levy and office costs) – $200.00

Legal Fees – Normal

Approximation of average legal fees on a residential real estate transaction is as follows:

Purchase – $650 to $750 for purchase price up to $750,000
Sale – $550 to $650 for sale price up to $750,000

Adjustments on Closing Between Seller and Buyer

On closing there will be adjustments to the sale price between the Seller and the Buyer which will appear on a Statement of Adjustments as credits in favor of the Seller or the Buyer. If the Seller is relying on receiving or if the Buyer is relying on paying a fixed amount on closing, it is unpleasant if these adjustments come as a total surprise to your client.

For example, if taxes for the calendar year are $4,000.00, the deal closes June 30th and the Seller has paid the taxes for the entire calendar year, there will a credit on closing to the Seller of $2000.00. In other words, the Seller receives $2000.00 more and the Buyer pays $2000.00 more.

Also, if there is a fuel tank at the property, the Seller usually fills the tank on closing and sells a full tank to the Buyer. If the adjustment were approximately 52 cents per litre for 909 litres, the Seller would receive $450.00 more and the Buyer pay $450.00 more on closing.

Survey

Most financial mortgage institutions now require a Buyer to produce a recent survey for the real property being purchased showing the boundaries of the lands and the location of the dwelling thereon. The term “recent” varies from lending institution to lending institution but as a loose rule a survey 10-15 years old will probably still be acceptable to a lender if accompanied by a Declaration of the Seller saying it is still accurate. If the Buyer requires a survey for the lender and the Seller does not have one, it is the responsibility and the expense of the Buyer not the Seller to have a new one prepared by an Ontario Land Surveyor.

Title insurance will take care of the problems incurred in the absence of a survey or an up to date survey! It is highly recommended that title insurance be obtained in the absence of a survey.z

Mortgage Insurance

In the event that the amount of your first Mortgage on your purchase transaction exceeds 80% of the purchase price, it will be necessary for you to purchase, for the protection of the Lender, mortgage loan insurance. This mortgage loan insurance premium that is paid is to protect the lender in the event that the mortgage is not paid. This is not to be confused with life, disability, or job loss insurance.

The mortgage insurance is normally purchased through CMHC (Canada Mortgage and Housing Corporation) or GEMI (GE Capital Mortgage Insurance Canada.) The cost of the insurance premium is paid by the Buyer. The amount of the mortgage insurance premium is calculated using a loan/value ratio, and may be added to the mortgage amount. The premiums are as follows:
a) 75% to 80%                1. %
b) 80% to 85%                1.75%
c) 85% to 90%                2.00%
d) 90% to 95%                2.75%-2.90%
e) 95% to 100%              3.40%

Other high ratio financing costs include an application/appraisal of $165 and there is 8% provincial sales tax on the mortgage insurance premium to be paid by the borrower as set forth above. While the mortgage insurance premium can be added into the amount of the Mortgage, the provincial sale tax on the premium is payable immediately at the time of the advance of the mortgage funds.

Building Inspection Fees or Home Inspection Fees

It is generally recommended that when purchasing a resale home or new construction that a building inspection be carried out on the structure, either prior to making an offer on the property or at the time you have entered into the Agreement of Purchase and Sale. The fee for a normal building inspection can range from $250.00 to $500.00.

Home Staging Fees

A home staging consultation can run between $150.00 and $350.00. Additional costs are dependent upon the amount of staging done and upon who is responsible for completing the work.

NOTE: Royal LePage Estate Realty does not take any responsibility for the accuracy of the costs listed above. The costs are to give you an idea of the approximate expense range. As a professional realtor, it is incumbent upon you to verify any costs that you will be using in your representation to buyers and sellers so as not to misrepresent. Also use an approximate range of value instead of one fixed amount. As mentioned previously, Buyers should budget 2-3% of the purchase price for closing costs.

1. Increase Ventilation

Proper ventilation reduces the concentrations of indoor air pollutants and provides healthier air quality in your home.  Start by making the most of exhaust fans or opening windows when showering, cooking, or using the dishwasher in order to let moisture escape your home quicker.  If you have a garage, install an exhaust fan to the outdoors to prevent car fumes from entering your home.  Make use of ceiling fans that draw up and distribute cool air from the floor on warmer days, and circulate warm air that collects near the ceiling on colder days.

2. Use Water Softners to Combat Hard Water

While safe and suitable for drinking, hard water, or water containing high levels of calcium and magnesium, can still have its setbacks. Harder water creates mineral build-up that can clog pipes and appliances and leave a soapy film on bathtubs and shower tiles.  It can also be tough on your hair and skin, and deteriorate the quality of your laundered clothing.

Try using a hard water conditioner that traps minerals during the wash to soften your laundry and eliminate build-up on your dishes.  In the bathroom, use an easy-to-install soft water filter on your showerhead to help prevent dry skin and reduce soap scum build-up.  For a more complete solution, consider installing a water softener system in your home.  This will not only benefit your skin, laundry, and dishes, it will also help eliminate mineral deposits in pipes, fixtures, and appliances.

3. Balance Humidity

If the air in your home is too dry or stuffy, it can irritate your skin and cause respiratory problems.  On the other hand, too much moisture in the air can cause mildew, dust mites, and other conditions that can trigger allergies.  That’s why balancing humidity is important.  Humidity is normally measured by the amount of moisture in the air using a hygrometer.  As a rule of thumb, the recommended humidity in your home should be between 30 – 50%*.

If the air in your home is too moist, a dehumidifier will help prevent a damp environment and protect walls, floors, and furniture from water damage.  If the air in your home is too dry, a humidifier will add moisture and relieve dry skin and many allergy and asthma problems.  It will also reduce cracked paint and plaster occurrences, as well as prevent wood floors from warping.

*Canada Mortgage and Housing Corporation.

1. Check your furnace filter regularly and clean or change as needed.  A clogged air filter reduces the efficiency of your furnace which equates to higher heating costs.

2. Inspect the air intakes and exhaust vents of your furnace to make sure no unwanted creatures have taken up residence in them.

3. Have your furnace motor and burner serviced by a qualified HVAC contractor.  Some of the tasks they may perform are: Carbon Monoxide testing, check operation of safety controls and thermostat, service and inspect  the burners, inspect the ignition system and service as required, inspect and service the fan blower & motor, check the gas line to the furnace.

4. Ensure that your cold air return ducts are open and free of obstructions.

5. Make sure that the space around your furnace is not obstructed by boxes, furniture, and objects.  Maintaining airflow around your furnace is important and also helps prevent safety hazards.

6. Clean your humidfier and replace any parts that no longer operate due to water residue.

The Canadian Mortgage and Housing Corporations website has further tips on seasonal maintenance of your home and it’s mechanical systems.  CMHC home maintenance schedule.

Currently, 30 per cent of single, never-before married women own their own home, while 45 per cent of divorced or separated women and 64 per cent of widowed women are homeowners, according to the Royal LePage Female Buyers Report.

When current female homeowners and renters who intend to purchase in the next three years were asked, “When searching for your home, which type of home would you be looking for?” 25 per cent said that they are looking for a “fixer-upper” and plan to do the work themselves, while only nine per cent will hire a contractor.

“The notable upswing in real estate activity among females is not surprising given that women are earning higher salaries than ever before,” said Lisa da Rocha, vice president, marketing, Royal LePage Real Estate Services. “Single women now play a significant role in the housing market. Eager to experience the pride of ownership and exercise their independence, we are seeing growing numbers of women buying their first home on their own, trading-up homes as they progress professionally and taking on home renovations,” added da Rocha. “Today’s woman is much more financially astute than her counterpart a decade ago, and is well versed in real estate as a solid long-term investment.”

Additional Poll Findings:

- Among those who own and rent and intend to purchase a home/condo in the next three years, men and women both rank equally (81%) taking out a mortgage from a bank, however, nine per cent of men said they would rely on their family to pay for their entire home, in comparison to only three per cent of women.

- Of women who own, who don’t intend to purchase in the next three years, when asked, “Which one of the following motivations most influenced your decision to purchase your home?” the top three responses included: it makes more sense than renting (36%), want to put my money into a good investment (22%) and pride of ownership (13%).

- Among women who are intending to purchase in the next three years, when asked, “Which methods will you use to educate yourself about home purchasing?” the top three responses cited were speaking with a real estate agent (83%), speaking with friends and relatives (78%) and using real estate and financial websites (64%).

- Edge the gardens, clean out debris
- Pull the weeds and rake the leaves
- Prune the plants and wooly shrubs
- Plant some urns by the entrance and flowers to the beds
- Tidy the garage of winter trappings
- Dispose of rusty broken garden décor
- Put out a fresh welcome mat and oil the front door
- Paint the windowsills, mailbox, and anything else that is looking tired
- Place clear light bulbs in exterior fixtures, and ensure burned out bulbs are replaced
- Reseal the driveway
- Hide the garbage cans
- Sweep the step
- Fix the saggy gutters

Who says cleaning has to hurt? Get the kids involved! Borrow or buy a power washer and have fun cleaning siding, windows, sills, railings, decking and patio furniture.

A qualified home inspector should be hired before purchasing a home, but there are areas that consumers can examine on their own. This will shorten your list of potential homes and reduce the likelihood that a home inspector will reject it as unsafe or unsuitable. Here are some considerations and common problem areas to look for when touring an open house:

General Upkeep

Much can be surmised from the general state of the home. Is the home clean? Are lawns left uncut? Are the walls chipped and in need of paint? If smaller chores have been ignored it may be an indication of a broader disregard for home maintenance.

Water Leaks

Check ceilings and drywall for stains, bulges and other signs of water damage. Water that works its way inside via a leaky roof or a cracked foundation can rot wood, create mildew and mold, destroy possessions and can be expensive to repair.

Does it Work?

Test lights, faucets, the heater, air conditioning, major appliances (that are to be included with the home) – even flush the toilets to ensure everything is working as it should.

Floors

As you walk across the floors be aware of spongy (soft or springy) sections. Excessive squeaking and uneven, bumpy floors may also be indicative of expensive forthcoming repairs.

Doors & Windows

Check that doors and windows fit snugly in their jambs and operate smoothly. Look for flaked paint and loose caulking. If the wood around windows and doors is not protected from moisture, it can rot away. Feel for drafts in these areas too.

Poor Drainage

On a wet day walk around the yard and look for areas where water collects. This can be an especially bad sign if there are soggy areas near the home’s foundation.

Grout & Caulking

If the grout and caulking around bathroom and kitchen tiles is loose and crumbly, there is a good chance that water is finding its way into the wall or under the floor.

Structural

Although this is definitely an area where you want the services of a qualified home inspector, you can get an idea about possible structural problems if you see deep cracks in the foundations or loose mortar and bricks.

Miscellaneous Concerns

Naturally, one the most important factors will be determining if the house suits your family’s needs. If you do not want to replace all of your furniture, make sure it will fit into the rooms of the new house. This is difficult to do by eye, so be sure to bring a measuring tape. Also, take note of storage space. If you are moving from a home with large closets and a shed, make sure your new house is able to store an equivalent amount of belongings.

DREAM ALIVE AS SUMMER ARRIVES

Recreational properties still considered a safe long-term investment and provide the ultimate Canadian family ‘staycation’ poll shows

source: Royal LePage Website Article

TORONTO, June 18, 2009 – Despite the economic downturn, many Canadians are still dreaming of owning a recreational property, both as a long-term investment and to enjoy with family and friends.  Canadians are willing to make sacrifices to own a cottage, and more want to use their cottage, cabin or chalet year-round as a recreational property and, for some, as their primary residence, according to the 2009 Royal LePage Recreational Property Report released today.

The 2009 Royal LePage Recreational Property Report comprises a nationwide survey of Canadian attitudes towards recreational property* ownership, coupled with a market analysis of recreational property prices, trends and activity in selected leisure markets across the country.

“The survey showed the dream of owning a get-away property on the water to escape the pressures of city life and to relax with family and friends, is still alive and well across the country,” said Phil Soper, President and Chief Executive of Royal LePage Real Estate Services. “Beyond the obvious lifestyle benefits however, our research demonstrates Canadians see recreational property as a smart and safe long term investment.”

The survey found that 64 per cent of Canadians view cottage ownership as a sound investment. To pursue their dream of buying a recreational property, 55 per cent of Canadians would be willing to make compromises with regards to their financial or lifestyle choices, such as purchasing a property with family and friends, renting out their cottage, making a cottage their primary residence, buying a fixer-upper, or moving into a smaller principal home in the city.

Added Soper, “An interesting trend is emerging that we believe is a direct response to the increasing size and congestion of our cities, accelerated by the recession.  More and more Canadians have a desire to escape the urban jungle and use their recreational properties year-round.  To save money, a majority told us that if they owned a cottage, they would be happy to call it their new vacation destination. It appears that many view owning a recreational property as the ultimate, no-hassle ‘staycation’ and one that presents an opportunity to invest while they enjoy.”

“While Canadians build their own personal equity through cottage ownership, they also contribute to the economy of the small leisure communities they vacation in by shopping at the local stores and through activities such as boating and golfing,” continued Soper.

Following a reduction in sales in the latter half of 2008 and over the winter, the recreational market is now showing signs of renewed interest and increased activity.  Consumer concern about the recession and increasing inventories have eased demand and helped alleviate the chronic supply shortage that has characterized the recreational real estate market in recent years.  Improved affordability is keeping many markets busy.  So far this year the busiest areas have been those offering more modestly priced or entry-level properties, such as the Kawarthas in Ontario.

Given their choice, 68 per cent of Canadians would purchase a recreational property on a lake, far and away the most popular choice.  According to the 2009 survey, 89 per cent of Canadians think a cottage or cabin is a great place for family to gather, and 86 per cent think it is a great way to get out of the city for recreation and relaxation.

Canadians believe that the three most important features of a recreational property are peace and quiet (58 per cent), access to utilities*** (50 per cent) and four-season use (39 per cent).  These factors are consistently rated among the top three across all regions. Other highly rated features include access to boating and fishing (23 per cent), proximity to amenities (18 per cent), ecologically friendly or “green” sites (17 per cent) and year-round activities (16 per cent). Rounding out the top 10 features Canadians desire were sunset vistas, docks, and deep water, at 16 per cent, 15 per cent and 9 per cent respectively.

ADDITIONAL POLL FINDINGS BY REGION

Atlantic Canada
The Canadian dream of owning a cottage is alive and well in Atlantic Canada, where 91 per cent of residents think the cottage is a great place for family to gather, and 88 per cent consider a cottage or “cabin” a great way to get out of the city. Eighty four per cent would choose to buy a cottage on a lake, and cottage ownership would make 57 per cent of Atlantic Canadians less likely to vacation elsewhere.

Consistent with the national average, 63 per cent of Atlantic Canadians believe a cottage, chalet or cabin is a good long term investment, 49 per cent believe owning a recreational property provides a good financial return on investment.  Seventeen per cent would purchase a fixer upper, 13 per cent would make a cottage their primary residence, and 10 per cent would rent out their cottage or property during the year.

Atlantic Canadians rank peace and quiet (56 per cent), access to utilities (55 per cent) and four-season use (41 per cent) as the three most important features for a cottage or property. Twenty-eight per cent ranked proximity to amenities as a top priority, the highest score in the country.  Year-round activities, access to boating and fishing, and having a dock are also important.

Québec
Québec buyers are mainly looking for quality of life, but return on investment also weighs significantly in their decisions. The majority (86 per cent) consider cottages to be a great way to get out of the city and 73 per cent would choose to buy a cottage on a lake.  Slightly more than half (51 per cent) believe that owning a recreational property makes them unlikely to take vacations elsewhere.

More than half of Québecers are willing to make financial or lifestyle compromises to own a recreational property, including purchasing with family and friends (18 per cent), making a cottage their primary residence (15 per cent), and renting out their cottage (12 per cent). Fifty-five per cent believe a cottage is a good long-term investment.

The three most important features ranked by recreational property buyers in Québec are quiet areas (69 per cent), four-season use (48 per cent), and utilities (36 per cent). Québec buyers also ranked as the most eco-friendly.  Thirty-one per cent are looking for green features, which is the highest among all other provinces.

Ontario
Ontario residents continue to love the cottage for quiet summer retreats by the lake with family and friends, but they are also trending toward more all-season and year-round use. Nine out of ten Ontarians agree that a cottage is a great place for family to gather, and 89 per cent cherish their cottage as a great way to escape the pressures of city life.  Two-thirds would choose to buy a cottage on a lake, and owning a cottage would make 54 per cent of Ontarians content to take their vacation at the cottage this year.

More than two-thirds of Ontarians (68 per cent) think a cottage is a good investment. More than half are willing to make financial or lifestyle changes to own a recreational property, including making a cottage their primary residence (17 per cent), renting out their cottage (15 per cent) and purchasing with family and friends (13 per cent). Along with Albertans, Ontarians are more willing than other Canadians to drive as far as necessary to enjoy cottage life. Seven per cent of Ontarians say they are most likely to purchase a mobile home, the highest among all provinces.

The Prairies
More so than in any other region, 96 per cent of Canadians living in Manitoba and Saskatchewan feel that a cottage is a great place for family to gather. Seventy-three per cent believe recreational property is a good long-term investment.

Fifty per cent said a cottage on a lake would be their first choice, but a remarkable 22 per cent said that they would choose to buy a timeshare, which is more than five times the national average. Fourteen per cent said they would be willing to rent out a cottage or property during the year in order to make cottage ownership possible.

For Prairie dwellers, the three most important features of a cottage or recreational property are access to utilities (65 per cent, the highest in the country), quiet (48 per cent) and four-season use (45 per cent).   Sunset vistas (26 per cent), boating and fishing (24 per cent) and eco-friendly sites (19 per cent) also rank high.

Alberta
In Alberta, 69 per cent of residents agree that a cottage is a good long-term investment. At 62 per cent, Albertans are among the most willing in the country to make changes to their finances or lifestyle in order to own a cottage. One in five Albertans would purchase a fixer upper, the highest score in the country, and 15 per cent would purchase a property with friends or family members.

For Albertans, the three most important features of a cottage or recreational property are access to utilities (60 per cent), peace and quiet (51 per cent) and four-season use (33 per cent). Access to boating and fishing (28 per cent) and proximity to amenities (22 per cent) also ranked high for Albertans. Sixty per cent said a cottage on a lake would be their first choice, but 11 per cent would choose a resort condominium and another 11 per cent would choose a property in the woods, both significantly higher than the national average.

British Columbia
In British Columbia, 59 per cent of residents agree that a cottage is a good long-term investment, 43 per cent believe a recreational property provides a good financial return on investment.  Sixty-three per cent said they would be most likely to purchase a cottage on a lake.

Along with Albertans, British Columbians, at 62 per cent, are the most willing Canadians to make financial or lifestyle changes in order to buy a recreational property.  One in five (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.

Like other Canadians, 87 per cent of BC residents think a cottage is a great place for family to gather, and they ranked peace and quiet (56 per cent), access to utilities (48 per cent) and four-season use (37 per cent) as the three most important features for a cottage or property.  One in five (20 per cent) ranked an eco-friendly site as a priority, second highest after Québec. Year-round activities, proximity to amenities and access to boating and fishing also rank high.

Methodology

The following top-line summary presents the results for the 2009 Recreational Property Study conducted for Royal LePage Residential Real Estate Services. The survey portion of the Royal LePage Recreational Property Study was conducted online by Pollara from May 14 to May 19, 2009 among a randomly selected sample of 1,000 adult Canadians.  An unweighted probability sample of this size with a 100% response rate would have an estimated margin of error of +/- 3.1 %, 19 times out of 20. The data was statistically weighted to ensure the sample’s regional and age/gender composition reflects the actual Canadian population according to the most recent Census data.

*Standard cottage or recreational property – three bedrooms, 1,000 square feet on a 100 foot lot.
** Royal LePage, averages are based on the examination of select recreational areas in each province.
***Utilities include electricity, sewage and plumbing.

About Royal LePage
Royal LePage is Canada’s leading provider of franchise services to residential real estate brokerages, with a network of over 13,000 brokers and sales representatives in 600 locations across Canada.  Royal LePage is managed by Brookfield Real Estate Services, and is part of a brand family that includes Royal LePage, Johnston and Daniel, and La Capitale Real Estate Network.  An affiliated company, Brookfield Real Estate Services Fund, is a TSX listed income trust, trading under the symbol “BRE.UN.”

For more information visit www.royallepage.ca.