If you live in Toronto, and you’ve never been to Collingwood and/or Blue Mountain Ontario, then you’re really missing out. It’s a beautiful part of Ontario, with scenic beaches, amazing hikes, ski hills, and just a fantastic overall place to get away from the city. It’s also the perfect place to buy a second property.
Why? Well, besides all of the positives mentioned above, it’s also really close to Toronto — you can get there in under 2 hours via the 400!
Or, you can take the more scenic drive via Airport Road, which passes through charming towns like Creemore and finishes off with a beautiful stretch of road along the Georgian Bay waterfront that leads you straight into Collingwood.
To find out more about buying a second property in the Collingwood and Blue Mountain area, I did some research and spoke with a few local real estate experts. Here’s what I found out.
Thinking about buying real estate in Collingwood, Ontario? Work with someone who knows the market. Call or text me at 647-239-7587 or send me an email at melissa@southetobicoke.com to get started.
It’s Not Toronto
The real estate market in the Collingwood and Blue Mountain area is really different from how it is here in Toronto and South Etobicoke.
As I know from firsthand experience, if you’re buying a home in Toronto, you end up having to put up with a lot of headaches. Between inconvenient showing restrictions, multiple offer scenarios, over-asking prices, and bidding wars, there are a lot of obstacles that get in the way of buying a home in Toronto. That being said, with word about Collingwood spreading quickly among Toronto residents, Collingwood’s sharp upturn in popularity has resulted in a fair few more bidding wars there too.
Looking for advice about buying a home in Toronto? I’ve got tips for that too!
- Moving to Toronto From a Smaller City? Here’s Why You’ll Love South Etobicoke
- Best Etobicoke Neighbourhoods to Build Your Custom Home
All in all, however, it isn’t easy to be a buyer right now in Toronto, but in Collingwood and Blue Mountain, it’s much different.
For instance, buyers have many more options when it comes to listings, and also tend to have a little more time to make their decisions too. Collingwood’s market has a nice balanced mix of both buyers and sellers, so you’ll find you have a little more flexibility when it comes to buying a home there.
Know What You’re Buying
Whenever you’re considering investing in a secondary home, recreational getaway, or income property in a more rural area, it’s important you have a full grasp on how your new home works, especially if you’re coming from a much more urban city like Toronto.
For example, not all of the properties in Collingwood are hooked up to the municipal sewer system; septic tanks and wells are common, and they work much differently than the homes you might be used to buying in the city.
Before you put down a single dollar on a new home, you need to make sure that you get water tests done and have septic tank inspections arranged. If not, you could end up dealing with some else’s, uh, business — quite literally. And, because of the way some homes are built in Collingwood, a lot of the homes also have sub-pumps and/or sewage ejectors, which also require proper inspection.
At the end of the day, it truly pays to get a local professional’s advice and guidance on the condition and functionality of these common Collingwood home systems. Things that you may not have even had to consider when buying a home in Toronto could end up costing you big time to fix in Collingwood.
Need more tips about real estate investing? Check out What to Know About Investment Properties in South Etobicoke.
The Investment Market Is Hot
Purchasing a second home in Collingwood or Blue Mountain is a great investment. Because the area is so beautiful year-round and it’s so close in proximity to Toronto, the short-term rental market is always hot, which means you can end up making a lot of money with services like Airbnb.
With a couple of weekend rentals a month, you can earn your monthly investment costs back and more! However, this is where you’ll really want to work with someone who knows the area.
While there are a lot of great investment properties, Blue Mountain has some pretty strict rental laws that could end up spoiling your passive income plans. Some places simply don’t allow rentals at all (even for freehold properties) and going against that cost you a fine of up to $3,500 per night. That’s why it’s crucial you know exactly what you’re buying, where you’re buying it, and more specifically, what the rental laws in that neighbourhood are like.
Go Local
As mentioned, the real estate market in Collingwood is very different from Toronto — and so are the homes. That means you definitely shouldn’t use an agent from the city because it’s very possible they could overlook an important part of your transaction.
Your best bet is to work with someone that knows the Collingwood real estate market inside and out to ensure you end up getting exactly what you want and avoid any potential for buyer’s remorse down the road. In the long run, it’ll literally pay for you to work with a locally informed agent.
★ Whether you’re based in Toronto, South Etobicoke, or even Collingwood, I can help you find the perfect home for your lifestyle — no matter what your future plans are. Learn more about my personal buying process, then consider booking a no-obligation buyer’s consultation with me.
Embrace The Acreage Life
These days, living on an acreage property seems to be everyone’s dream. The thought of living somewhere you can hang your hat, shoot some guns, ride a horse, and enjoy the peacefulness of not being able to see or hear your neighbour appeals to many. However, these type of properties bring their own set of problems that only an experienced Collingwood agent would truly understand.
If you want to buy an acreage property in the Collingwood area, your agent needs to understand how to read rural property lines and surveys, be familiar with local bylaws and environmental hazards, and much, much more. Even when it comes to building your new dream home on your new acreage, you may need to get town permits or commission reports, or there may be environmental impact issues to consider.
Whatever you have planned for your new property, remember that knowledge is power, and an informed agent should be able to inform you about all of the particular details you need to consider.
Are you thinking about buying real estate in Collingwood, Ontario? Don’t make the mistake of hiring someone with no experience in the Collingwood market. Call or text me at 647-239-7587 or send me an email at melissa@southetobicoke.com to get started.
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