Courtesy: Regina Leader Post
Nearly half of potential recreational-property buyers on the Prairies are looking for proximity to amenities -- the highest in Canada, according to the 2010 Royal LePage recreational property survey.
The typical cottage-buyers in southern Saskatchewan are couples in their late 30s or early 40s with children, who want to enjoy the cottage experience, said the report released Thursday.
Close to half of recreational-property buyers on the Prairies are looking to buy in order to enhance their lifestyle, rather than in an attempt to enhance their long-term investment potential.
Though cottages used to be quite humble in the Regina region, people are increasingly building large four-season recreational homes.
"There are about 24 strictly recreational properties listed now," said Mike Duggleby of Royal LePage Regina Realty.
"Bargain hunters looking for an older property can find opportunities from the $150,000 to $200,000 price range.
"But on average, second or third row non-waterfront properties sell for $250,000."
Northern Saskatchewan is home to two popular recreational areas, Christopher Lake and Candle Lake, both located 40 kilometres from Prince Albert. For Christopher Lake, prices can range anywhere from $310,000 for non-waterfront, land-access properties to $600,000 for waterfront properties.
Prices at Candle Lake are slightly lower, with non-waterfront properties costing $247,000 and waterfront, land-access properties averaging $415,000.
Hal Jadeske at Royal LePage Saskatoon Real Estate, said demand for recreational property in the area is still strong, despite the high prices.
"Prices have doubled in the past few years, so buyers are viewing properties as a long-term investment with some nice side perks," Jadeske said.
With higher prices, families are beginning to invest more in shared properties.
"Shared investing really helps out with the mortgages," he added.