Hunting for a slice of Canadian paradise

Dreaming of sitting on the deck of a cottage, soaking in the view and then going for a swim? Despite soaring costs of premium waterfront properties, bargains can still be found nearby.

Prices may be skyrocketing as affluent baby boomers look for second homes to escape their busy lifestyles, but prospective buyers on a limited budget can still own a slice of Canadian paradise, two of the country's top real estate companies say.

"It's important for people to be patient if they're looking for that ideal property," said Elton Ash, regional director for Re/Max. "The property will be there for you. You just have to take the time to find it."

Before buying a cottage, Mr. Soper recommends vacationing in the area to get a feel for it. "This is an investment that people will live with for many years," he said. Still, he says the demand for waterfront recreational properties is not slowing.

"It's a convergence of buyers all looking for the same very limited property," Mr. Soper said. "We have boomers looking for that property or upgrade. We have young families with disposal incomes looking for recreational property. And you even have retirees looking for the property.

"It's a lot of different buyer classes all converging on a very small number of listings."

---