Are You Looking for a Real Estate Project for 2020? Buy a Chalet in the Mont-Tremblant Region
There is no doubt that Canadian real estate is hot right now. Just think about all the foreign investors buying up condos and homes in the nation’s largest cities. But investing in a cottage is sometimes overlooked as an interesting real estate project. While cottages may not appreciate as much as condos, they can present an interesting source of revenue if you rent them. Whether on the short-term, long-term or seasonally, renting your cottage can allow you to purchase and enjoy a second home. However, like any real estate investment, buying a property is about location, location, location. Read on and discover why buying a chalet in the Mont-Tremblant region is a smart move.
Buying a cottage: location is key
When buying a cottage, whether for your enjoyment or to rent for profit, there are certain things to consider. Aside from the logistics and numbers, location is definitely key. While cottage real estate does not necessarily appreciate as much as condos or homes in cities, you should still consider its resale value. Or just as importantly, its rental potential. Buying a cottage close to a mountain like Mont-Tremblant offers a wealth of attractions and amenities. Cottages in the Mont-Tremblant region, such as those at Kanata Tremblant, are close to everything one would need. Sports, dining, entertainment and shopping are all easily accessible. And cottage owners and renters will still be able to escape the city and enjoy the peace and quiet of nature. Furthermore, Mont-Tremblant’s proximity to Montréal, Ottawa and Toronto make it a prime destination for Canadians. It is not surprising that celebrities such as Michael Douglas and Catherine Zeta-Jones, Mario Lemieux, Mitsou, and Jacques Villeneuve have invested in the area.
If you are interested in investing in a ski cottage, you must ensure you are buying close to a “healthy mountain.” What does that mean? Well, with today’s shifting climate, one or more bad ski seasons can have serious impacts. As such, you should choose a cottage close to a mountain that invests in its infrastructure. The more money a resort is willing to invest in its infrastructure, the more property values will rise. The Alterra Mountain Company, which owns the Mont-Tremblant ski resort, announced that it would invest $14 million to update the resort for the 2019–2020 season. This substantial investment will not only fuel ski hill improvements but will also serve to update the indoor Aquaclub. As long as the area attracts tourists and offers a dynamic experience, prices and rents will continue to rise. These investments are sure to impact real estate prices both on and around the resort. According to an article in the Montreal Gazette, the Mont-Tremblant area saw a 23% increase in the number of transactions from 2017 to 2018, with 2019 trending even higher.
Renting in Mont-Tremblant: a great way to make your dream of owning a cottage come true
Did buying a cottage in the Laurentians seem like an unattainable dream? Well, renting your cottage could just make that dream come true. More and more cottage owners are transforming their pied-à-terre into rental properties, while still enjoying it from time to time. Whether for short- or long-term periods, renting your cottage may be just the extra revenue you need. Many investors have seen the potential of buying real estate in the Mont-Tremblant area. They rent out the cottages year-round, but still keep a few weeks for themselves and their families. The beauty of buying in the Mont-Tremblant region is that it attracts vacationers throughout the year. And the popularity of the area just keeps on growing. As such, potential renters should be easy to come by. Furthermore, destinations like Kanata Tremblant allow owners to use rental platforms such as Airbnb to maximize the revenue potential of their investment. And they even offer property management services, so you do not have to worry about maintenance, cleaning and so forth.
If you are looking for a real estate project for 2020, investing in a cottage in the Mont-Tremblant area offers great potential.