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Anonymous
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# Posted: 24 Jul 2012 11:11am
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I was thinking to buy a cottage around the Midland area, Georgian bay.
Where do you think the market is headed? I'm look at a cheaper place around 150k.
I'd hate to lose too much on market decline but properties stay vacant there a long time.
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exsailor
Member
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# Posted: 24 Jul 2012 11:49am
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I have not built a cabin as yet, but from what I have seen on this site $150,000 would bankroll at least 3 or 4 new cabins to completion. I am planning on 50k for land and cabin, 40 for the land 10 for the cabin. Yes, I want as much land and as secluded as I can get. With repurposing and second hand sources it will probably be much less. Depending on land prices and how much land you want 50k is probably a high number. Sounds like you have found a second vacation retreat in prime real estate in an established community. For an estimate look at home sells in the area for a history to see if they have stabilized. Recreational property sells are generally considered a luxury market and may behave differently than conventional housing. A realtor should have or be able to locate the historical data. Maybe closure data is recorded in the county court house, just a thought. In the end a cabin has different meanings for most of us. What you are looking for depends on your definition.
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Anonymous
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# Posted: 24 Jul 2012 12:06pm
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In Ontario they are strict about building codes, you can bank role a 10 sq m cabin for nothing but who want to live in that?
It not cheaper to build your own house in Ontario.
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Just
Member
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# Posted: 24 Jul 2012 02:22pm
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A good rule of thumb in ont . is pay no more than 25% more of the current ontario assement notice. as far as the future ,,i'm betting people will still cottage in 20 years ...?????? GOOD LUCK
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jimmyu
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# Posted: 29 Jul 2012 03:51pm
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What do think of the area around there for cottages? Tiny or Christian Island?
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Just
Member
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# Posted: 29 Jul 2012 10:24pm
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I'd stick with the mainland because of that being a 4 season area what with all the sking .broader market if you ever want to sell.. but i'm no expert..
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