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| I heard from a guy in town that land in Ontario is really cheap. I guess you can't officially own the land but you can rent it for ever? Also how are the prices for cottages on lakes?
Seems like very few people live there so i'm guessing it can't be too expensive.
Any insight would be great.
Thanks
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Posts: 1767
Location: Lake Country, Wisconsin | the "renting it forever" doesn't sound right...a guy I know bought a cabin on Eagle Lake, to my knowledge he is the owner of the property...You can definetely get some great deals, however, I don't know how this translates currently seeing as our dollar has dipped below the Canadian dollar |
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Posts: 342
Location: Passaic, NJ - Upper French River, ON | There are places where you can purchase the remaining term of an existing long term (say 99 years) lease on Crown Land, purchase a Land Use Permit to build on Crown Land, or buy already privately held land.
The way the US dollar is, you might want to wait for some time. Prices are cheaper compared to most metro US areas because of supply and demand. It will cost a lot more next year to journey far into CA because of their higher gas prices and our weaker dollar.
That being said, I would sell my US home before I'd sell my little piece of CA musky heaven, and think about going there at least twice a day. |
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Posts: 906
Location: Warroad, Mn | Buying land in Canada isn't much different than buying in the states. All it takes is money. There may be some long term leases available, but most land is sold outright.
In general most of the land is deeded land and you own it as you would in the states. You pay taxes on it and have the right to sell it again.
Lake shore property on popular lakes is quite expenive and increasing in value just as it is in the states. Lake property values have increased ten-fold in the past ten years.
On lakes like the LOTWs the only land currently available are existing properties, and no new crown land is being offered for sale.
There are plenty of realtors in the Kenora area who would be happy to show you
properties. Here's a link to one of them and his listings which will give you a feel for property values in the Kenora (LOTWs) area. http://www.haroldwarkentin.com/Listings.aspx
There are parcels of hunting land in areas that seem to be quite reasonable, but in general you are buying a swamp.
Doug Johnson |
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Posts: 93
Location: Minneapolis, MN | Are there any restrictions for non-Canadian citizens purchasing property? Is occupancy limited per year or could a US citizen basically "move in" and live there? |
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Posts: 1767
Location: Lake Country, Wisconsin | I'm pretty sure you can "live" there but you are not considered a ctizen of Canada and available to some of those rights...A US citizen who owns a resort in Canada would conceivably be up there almost all of the year for example |
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Buying Land in Canada