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You are here: BC Recreational Properties still Popular

BC Recreational Properties still Popular

Recreational property a hit with British Columbians: survey
 

Vancouver SunJune 18, 2009Comments (10) 
A Recreational Property Report found that 62 per cent of British Columbians are willing to make financial or lifestyle changes in order to buy a recreational property.
Photograph by: Handout photo, Vancouver Sun files
Nearly 60 per cent of British Columbians believe a cottage is a good long-term investment, according to a national survey released Thursday.
While this Recreational Property Report concluded that 59 per cent of people in B.C. believe a cottage is a good long-term investment, Albertans and British Columbians, at 62 per cent, are also the most willing Canadians to make financial or lifestyle changes in order to buy a recreational property.
One in five British Columbians (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. Sixty-three per cent of British Columbians said they would be most likely to purchase a cottage on a lake, the survey concluded.
The survey found that, like other Canadians, 87 per cent of B.C. residents think a cottage is a great place for family to gather and 56 per cent ranked peace and quiet as an important feature. Forty-eight per cent cited access to utilities as important and 37 per cent cited four-season use as a priority.
One in five British Columbians ranked an eco-friendly site as a priority, while access to boating and fishing also ranked high.
According to the survey, B.C. — with average prices ranging from $530,000 to $880,000 — is the most expensive province to buy a standard waterfront, land access cottage with 1,000 square feet, three bedrooms and a 100-foot lot.
The survey of 1,000 adult Canadians was conducted online May 14 to 19. The estimated margin of error for such a sample is plus or minus 3.1 percentage points, 19 times out of 20.
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