Demand for vacation properties in the Muskoka District has skyrocketed over the past few years, and for good reason. Also known as ‘cottage country’, the region is located just a few hours drive from Toronto and is renowned for its stunning lakes and natural scenery.
There are many reasons more people are opting to buy instead of rent here. If you’re considering buying a Muskoka cottage or second home, these are some benefits of investing in your own vacation property in cottage country.
Affordable Muskoka Cottage Country Vacations
Let’s face it—vacations can be wildly expensive.
The cost of hotel rooms and vacation rentals alone can be extremely costly, not to mention all the money you spend on eating out and excursions. When you add in plane tickets and car rentals, you could be looking at thousands of dollars.
When you own your own vacation property, you can enjoy a relaxing holiday with family and friends without having to pay many of those costs.
Additional Income From Your Second Muskoka Home
One of the great things about owning a Muskoka vacation property is that you can rent it out when you’re not using it to make extra income. There is no shortage of people looking for holiday rentals in Muskoka during the summertime.
Plus, since the pandemic, more people have been booking cottages in the area year-round. The rental fees you earn can help cover your mortgage and utility bills, and even turn you a profit.
Health Benefits of Spending Time by the Water
The multitude of lakes in Ontario’s cottage country are not just beautiful to look at, they can also be good for your health and well-being.
A study by researchers at the University of Exeter indicates that spending time next to the water can reduce stress and boost the mood. In addition, people who spend time next to the water are more likely to engage in physical activity such as swimming, paddling, or hiking. This can reduce the risk of heart disease and diabetes.
Property Appreciation for Ontario Cottage Country Homes
When you buy a Muskoka holiday home in a popular location like Ontario’s cottage country, there is a very good chance that the property will increase in value over time.
For example, property sales and home prices for both waterfront and non-waterfront properties in Muskoka were at record-breaking highs in 2021. It all depends on the market, but you could see an excellent return on investment if you decide to sell down the road.
Muskoka Retirement Property
Many people who buy a Muskoka second home in Northern Ontario decide to move there permanently after retirement. When there is no longer a need to live in a city, you may prefer the relaxed pace of life in the ‘lake country’.
Depending on how early you buy a vacation home, you could have the place entirely paid off by the time you retire. At the very least, you will have more equity when you do decide to retire, and that can help with your retirement plans.
Leaving Your Muskoka Cottage as a Legacy for Your Family
A cottage can be a wonderful legacy to pass on to your family. After all, you will probably spend many happy vacations there creating memories with your children and possibly your grandchildren.
What better gift to give them than a place where they can continue the tradition?
If you don’t decide to keep your second home for the long-term, you can sell the property and pass the proceeds along to your children.
Are you interested in learning more about vacation properties in Haliburton County and Muskoka? Please contact RE/MAX Professionals North online or call 705-788-1444 today!
Posted by Leah Ambler on
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