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Media Advisory: BMO Hosts Media Panel on the State of Cottage Country in Ontario

- Recent statistics show that buyers and sellers are back in the market following a pullback during the recession - median sale prices have risen 4 per cent from a year ago; buyers are spending more time shopping around

- Ontario market consists of 13 separate regions, with waterfront property ranging from $180,000 to more than $1,000,000

- Former Georgian Triangle Real Estate Board President joins BMO experts to discuss the recreation property market and the financial ins and outs of cottage ownership

TORONTO, ONTARIO--(Marketwire - June 21, 2011) - With the official start of summer, dreams of cottage ownership are renewed in the minds of many Ontarians. But with 13 main cottage markets in Ontario to choose from, buyers are faced with a number of variables, including the ideal lifestyle, location plus the property's price and value.

BMO and Royal LePage will provide an outlook on the factors affecting the recreational property market in Ontario, including Canada's aging population and how to navigate tax and succession issues.

Panellists will discuss the following topics:

  • Economic trends, including inventory and average prices
  • Trends in buyer expectation, including intended use and in-demand features
  • What prospective buyers should know about planning and managing the financial aspects of cottage life
  • The tax implications of owning a second property and how to plan for succession
  • Additional insights and commentary
What:BMO Bank of Montreal and Royal LePage Discuss the State of Cottage Country in Ontario
Who:Rick Crouch, Broker with Royal LePage and Former President of Georgian Triangle Real Estate Board
Cameron Mitchell, Mortgage Specialist and Recreational Property Expert, BMO Bank of Montreal
James Wong, Director, Succession Planning, BMO Harris Private Banking
When:Thursday, June 23, 2011, at 10:30 – 11:30 a.m.
Media Dial-in:Toll free 1-866-696-5910 or 416-641-2144
Passcode:8154332
For further information:
To confirm your attendance or if you have any questions,
please contact:
Rachael McKay
(416) 867-3996
rachael.mckay@bmo.com