Toronto homebuyers looking to buy a cottage during COVID-19

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“Space is the new luxury,” says Max Hahne, registered broker at Engel & Völkers Collingwood Muskoka.

It turns out that no matter how beautiful a house or a condo in the city, during a pandemic, you are always in the city. And the restrictions COVID-19 imposed on residents of Toronto have caused many home buyers to start looking north and the cottages.

RELATED: What Home Buyers Look Like in a COVID-19 Market

“During the third week of March, we have always seen the same number of inquiries, but we have seen an increase in the number of physical visits since Easter,” Hahne said on the phone. He says much of the interest he sees comes from Toronto home buyers looking to leave town definitively to find a rural, recreational home. He also notes that Engel & Völkers follows strict guidelines to be able to show a house during this period, including signed health and travel declaration forms, offering masks and gloves and ensuring that all parties involved maintain a appropriate physical distance.

COVID-19 has changed the way people perceive both their life and their life situation. For example, Hahne says he has a lot of potential buyers who, directly because of COVID-19, have realized that they don’t need to be in the office every day to be successful in their work, or even those who simply decided to retire earlier than before the pandemic.

Most importantly, buyers are interested in space.

One of Max Hahne’s current active listings, a $ 1.79 breakout just outside Collingwood

“Most of the properties I present are in the range of $ 2 million to $ 3 million, and almost all of them are over a larger area. I get a lot of phone calls, people are literally sitting in front of a property and calling us to ask for more details. “

Hahne thinks that at least some of the reasons are that so many people are stuck at home and they decide to spend a lot of time looking at the real estate. Taking a four hour drive to get a feel for a property north of the city doesn’t suddenly seem like a huge effort when there’s not much else you are allowed to do that day -the.

“Our Muskoka lines are resonating right now,” says Hahne. Above all, it is important to note, this is very rich clientele reaching out. The kind of people, says Hahne, who had to cancel their vacation in Europe and are now looking to rent or buy a cottage where they can spend the summer with their families. The chalets sought by these buyers are in the order of $ 5 million and can easily be rented for $ 100,000 or more per month.

In other words, not everyone is looking to Collingwood and Muskoka to buy a new home right now. But for those looking to the countryside, space is not the limit.



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