The Blue Mountains is a town in Grey County, southwestern Ontario, Canada, located where the Beaver River flows into Nottawasaga Bay It is named for the Blue Mountains, and hence the economy of the town is centered around tourism, particularly on the Blue Mountain ski resort and the private Craigleith and Alpine Ski Clubs Read more about The Blue Mountains real estate.
A Blue Mountains investment property is a wise decision that will provide years of part-time accommodation for your family and a steady income when you’re not there. People from all over choose to buy in the Blue Mountains because of the lifestyle and quality of life in Ontario’s four season recreation capital.
It’s very important to know in advance how the property will be used in order to make the right choices. For example, the Georgian Triangle area has few properties that are zoned for short-term and nightly rentals. They include, Craigleith Shores, Village at Blue, and Mountain Springs Lodge. If you’re looking for something larger than a condo, like a single family home or townhouse, rental options are restricted to 30+ days. A suite may provide you with the seasonal income you desire while still being able to live in the property full-time. Short term rentals are allowed in other municipalities, for example Meaford and Grey Highlands, and we can help you find the properties that fit your investment profile.
It’s not Toronto: The real estate market in Collingwood/Blue Mountain is really different from how it is here in Toronto. If you’re buying a home in Toronto, you have to put up with inconvenient showing restrictions, multiple offers, over-asking prices and bidding wars, and more restrictions (although, with the increasing popularity in the area from people in Toronto, bidding wars are increasing); all in all, it isn’t easy to be a buyer right now in Toronto, but in Collingwood/Blue Mountain, it’s different. You have more options and a little more time to make a decision. It’s a nice mix in-between buyer and seller market, so you have a little more flexibility when it comes to buying.
Know what you’re buying. When you’re buying a recreational, second property, you need to consider that not all of the properties are hooked up to the municipal sewer system; septic tanks and wells are common, and that’s different than buying a property in the city. You need to make sure that you get water tests done and have septic tanks inspections arranged. If not, you could be dealing with some else’s, uh, problems, quite literally. And because of the way some homes are built, a lot of the homes also have sub-pumps and/or sewage ejectors, which also require proper inspection. It pays to ensure that you have a professional have a good look at these things, that you may not consider in the city, before you buy a home.
The investment market is hot. Purchasing a second home in Collingwood/Blue Mountain is a great investment. Because it’s so beautiful here, and so close, the short-term rental market is hot, and you can make a lot of money. With a couple weekend rentals a month, you can make back your monthly investment and more, however, this is where you’ll really want to work with someone that knows the area. While there are a lot of great investment properties, Blue Mountain has some pretty strict rental laws that could cost you. Some places simply don’t allow rentals at all, even for freehold properties, and going against that cost you a fine of up to $3500 a night, so you need to know what you’re buying, and more specifically, where exactly you’re buying it.