A new report from realtor Royal LePage says members of socalled Generation X are buying twice as many cottages as baby boomers.The report says retirement planning and vacationing are among the reasons most often cited by those looking to purchase recreational properties.
Royal LePage says the typical cottage buyer is a couple with children, most likely in the Generation X demographic, which the report defines as those between the ages of 36 and 51.
The report defines baby boomers as those between 52 and 70.
Its findings are based on a national survey of Royal LePage recreational real estate experts.
The report says foreign buyers – predominantly from the United States – make up 10 per cent or less of Canada’s recreational property market.