Low supply, high demand in the region’s chalet market: expert

The Fall Cottage Show takes place November 11-13 at the Mississauga International Center, where guests can learn about cottage lifestyle and market trends.

The Fall Cottage Life Show takes place November 11-13 at the Mississauga International Center, and it’s your chance to learn more about the cottage market and lifestyle trends.

Michelle Kelly, editor of Cottage Life magazine and host of the Cottage Life podcast will be on the show with Terry Rees of the Ontario Federation of Cottagers Associations (FOCA) to discuss cottage rentals.

The Cottage Life team will also be on hand to offer advice and answer questions on a number of cottage related topics.

“The cottage market has been so hot and so desirable for a long time,” Kelly said. “The pandemic has boosted people who wanted to get out of town and into cottage country. Working from home has also made a difference as people have more opportunities to be away from their desks. All of this means that the cottage market over the past few years has been tough with very few listings and high demand.

Over the past few months, high interest rates and inflation have impacted the cottage market.

“People are very careful with their money and may not be looking to buy a second property,” Kelly explained. “But there is always demand and there are more buyers than properties.”

To counter these costs, Kelly says there has been an increase in the number of cottage buyers looking to rent or even make their cottage their permanent home.

“There’s been a melding of a few different trends and although cabins have become more expensive overall, there are more ways to afford them,” she said. “Renting has become very popular. Many people buy them now to rent them later. There is a very strong rental market. There has also been a move towards buying a cottage to live in and renting it out in town, as affordability in cities has become a challenge. This puts pressure on the cottage market and the desire to get out of town increases.

Rental has become a popular market for would-be cottage buyers as a “worry-free” way for those who want the cottage experience without a long-term commitment, Kelly says, especially with the boom in mobile apps. lease.

“It’s reinforced by the fact that you can go to cottagelife.com, and through our partnership with Vrbo, you can access thousands of listings across the country,” she explained. “It’s really easy to do and because of that, more people are more interested in renting. Renting has become easier and it has become more common in our culture to stay in someone else’s house.

Knowing the strong connection between cabin owners and their property and surroundings, Kelly doesn’t see the market slowing down, even with affordability issues.

“Despite what’s happening in the market at any given time, the cottage is a desirable way of life, especially in Canada,” Kelly said. “Ontario’s cottage country is spectacularly beautiful and that certainly won’t change.

“The desire to be there will remain and the majority of people looking for a chalet want this lifestyle. They want to go back to the same cabin with their family and see their kids jump off the dock and teach them how to water ski. market and the economy, it is the real nut of the chalet. I don’t see it going away and I think it will stay strong regardless of the economic situation,” she added.

In fact, Kelly thinks the cottage market will only get stronger as people make a long-term commitment to making their dreams a reality.

“I meet people all the time who are saving up and planning to have their cabin,” she said. “They buy one and it’s the culmination of their lifelong dreams. People take it very seriously and I don’t see it going away.

In May, RE/MAX predicted that the average cost of cottages would increase by 20% for the rest of the year.

“It’s different in every region and it really depends on where in the province you’re going price-wise,” says Kelly. “Overall, there are fewer ads, but we don’t see as many people finding an available ad and jumping on it because they’re afraid there won’t be another one. is always my advice, don’t just buy something because it’s available, consider a cabin a longer term investment and something you’ll have forever and remember. time and find something you like.

The Fall Cottage Life Show will run concurrently with the Seasons Christmas Show, giving guests access to both shows for the price of one admission. Tickets are available now at shows.cottagelife.com.

About Jermaine Chase

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