Recreational Property Update
In a Leger survey of Canadians, about 65 per cent of millennials (born between 1982 and 2002) expressed interest in purchasing a cottage within the next 10 years. However, many millennials feel that high real estate prices in the city in which they live will negatively impact their ability to purchase a recreational property in addition to owning a primary residence.
To overcome the gap between demand and affordability, some Canadian millennials are prepared to turn to unique financing methods to help purchase a recreational property. About 44 per cent of millennials indicated they would purchase a property with a family member, while 39 per cent indicated they would consider purchasing a property and renting it out.
Of the Buyers I've worked with this year, approx. 45 per cent were baby boomers, 45 per cent were generation x, and 10 per cent were millennials. Approx. 75 per cent of Buyers are coming from Manitoba, 15 per cent are from Kenora, 5 per cent are from western Canada, and 5 per cent are from the U.S. or abroad. I believe one driver which continues to keep the recreational market in Kenora strong is affordable housing prices in Manitoba.
Touchstone Island, Shoal Lake JO176 - CLICK HERE
I had the good fortune of meeting Myra Smith in the 1990s when her family and our family had cottages in Minaki.
Myra has been painting for many years, her works have been sold in Winnipeg at The Forks as well as Fort Whyte. She has had her art published in local magazines. Her works include paddles with cottages painted on them as well as loons, fish or other wildlife. She also paints on ceramic or slate trivets and coasters. She has painted cottage signs that are unique and original.
Prices are as follows...painted paddle $175.00 (includes the paddle), coasters 4 / $50.00 with burlap bag, trivets $25.00 with burlap bag. Cottage signs, approximately 2 feet by 3 feet, $375.00, ready to hang. Taxes are included.
Proofs of work are available. The artwork is original and a lovely keepsake for your cottage. Email firstname.lastname@example.org for more information.