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Are you thinking of buying a cottage in Muskoka or Almaguin Highlands this year?
Here’s a guide to get you started. I’ve include three different areas;
1 – South Muskoka (includes Gravenhurst, Bracebridge, Muskoka Lakes)
2 – North Muskoka (includes Huntsville/Lake of Bays)
3 – Almaguin Highlands
1 – South Muskoka
Use the chart below to help determine what you can afford. If you are looking at a “medium” size lake with a “mid-range” cottage you can expect to spend $425,000 to $550,000, see highlight below in yellow.
The graph below displays the unit sales by price range and the cumulative percentage of sales for each price catagory. Note: 42% of cottages sold in South Muskoka are under the price of $500,000 and 74% of sales are under $1,000,000.
2 – North Muskoka
Now lets take a look at Huntsville/Lake of Bays. You will notice that the cottage pricing in my opinion is slightly less. A “mid-range” cottage on a “medium” size lake costing from $400,000 to $500,000.
Looking below at the unit sales by price range, 48% of the cottages sold in this region are under $500,000.
3 – Almaguin Highlands
In Almaguin Highlands you will find the most bang-for-the-buck, but you must be willing to drive a bit further north. A “mid-range” cottage on a “medium” size lake will run you $350,000 to $450,000. A fairly substantial difference than South and North Muskoka.
In Almaguin Highlands you will find that half the sales are under $300,000.
The tables are designed to provide an overview of the price ranges found in certain general types of cottages and lake sizes. With the uniqueness of each waterfront property and the endless variations, the best advice and information will always be provided by a local real estate agent.
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