Living in Kingston, Frontenac, Lennox & Addington, and Gananoque means being surrounded by lakes, rivers, and canals. Around here, cottage life isn’t a fantasy—it’s part of the culture. Whether it’s a rustic cabin, a small three-season retreat, or something year-round, people love the idea of having their own spot by the water.

But the big question we hear all the time is: “Can I actually afford a cottage right now?”

During the height of the pandemic, the answer changed quickly. Cottages across Canada turned into hot commodities almost overnight. Prices jumped because demand was unlike anything we’d seen. Properties that used to be weekend getaways suddenly became full-time homes for people who were cleared to work remotely.

Families packed up condos in bigger cities and moved to areas like Muskoka, the Kawarthas, and Haliburton to buy cottages, chalets, and cabins. And yes—many of those buyers asked the same question you might be asking now: Why not live here all year long?

Now that offices are reopening and many employers are calling people back on-site, things are shifting again. Everyone—buyers, sellers, and industry experts—is watching to see what this means for those who traded urban living for lake life. At the same time, even with the broader real estate market slowing due to higher interest rates, prices across the country remain elevated. Inflation doesn’t cool quickly.

So where does that leave cottage buyers?

Cottage Prices Across Canada (Stats Provided)

Here’s a snapshot of cottage markets across the country, based on the data you provided:

Whistler, BC
• Average Residential Price: $1.87 million
• Annualized Change: +31.78%
• 2022 Price Forecast: 0%

Canmore, Alberta
• Average Residential Price: $877,678
• Annualized Change: +14.92%
• 2022 Price Forecast: +5%

Southern Georgian Bay, Ontario
• Average Residential Price: $1.1 million
• Annualized Change: +30.05%
• 2022 Price Forecast: 9%

Muskoka, Ontario
• Average Residential Price: $969,324
• Annualized Change: +11.22%
• 2022 Price Forecast: 18%

Rideau Lakes, Ontario
• Average Residential Price: $582,000
• Annualized Change: +23.04%
• 2022 Price Forecast: 8%

Summerside, Prince Edward Island
• Average Residential Price: $300,000
• Annualized Change: +20%
• 2022 Price Forecast: 5.5%

Across these recreational markets, despite rising interest rates and limited supply, average prices could still increase by as much as 20% for the rest of 2022.

According to Christopher Alexander, President of RE/MAX Canada:

“The level of activity we’re seeing in recreational markets across the country is a direct reflection of the stability and quality of life that these regions provide… Many recreational properties, whether as a primary or secondary residence, afford buyers the best of both worlds, compelling Canadians to settle in these areas for the long term. This is putting upward pressure on these markets.”

Will the Cottage Boom Slow Down?

That’s the big question heading into 2023. Rising mortgage rates and a softer economic outlook could change buying patterns for a while.

As Lisa Hannam, Executive Editor of MoneySense, explained to Cottage Life Magazine:

“We are currently in a seller’s market, so it does seem a little bleak if you’re trying to get into it… We have sellers who are holding on to the 2020 and 2021 prices, and then you have the buyers who are thinking about 2023, 2024 prices. So, you’re probably going to negotiate a lot more than you expected.”

In other words, cottage country has shifted from a frenzy into more of a chess match—buyers and sellers figuring out where they meet.

Are Cottages Still an Affordable Option?

Before the pandemic, cottages across Ontario, BC, and the Maritimes were often seen as the more accessible way to get into the market—or to add a second property for weekends and holidays. But with people moving in full-time, competition increased and prices rose quickly.

Now we’re seeing the first price softening in some parts of the Canadian market after nearly two years of nonstop growth. Whether those cooling trends will reach cottage country is still uncertain.

But here in southeastern Ontario—Kingston, L&A, Frontenac, Gananoque—we continue to see demand from buyers looking for cottage-style living without the Muskoka price tags.

So while national prices remain elevated, exploring local options can still be worthwhile. And if nothing else, you can still throw the kids in the car and enjoy a classic cottage-country weekend in places like the Kawarthas—no purchase required.

The Canadian government has recently taken aim at house-flipping in hopes of cooling housing prices. By introducing an anti-flipping tax, Ottawa hopes to slow rapid resale activity and create more room in the market for everyday buyers. Still, under the right conditions, flipping can be a smart investment strategy and a way to build wealth. The key is knowing how to approach it thoughtfully—and with a solid plan.

Here are some helpful things to consider if you’re thinking about getting into the world of house-flipping.

A Beginner’s Guide to Flipping a House

Run the Numbers Carefully

Flipping isn’t just about buying low and selling high. There are many financial pieces to account for beyond the purchase price. Renovation costs, materials, labour, carrying costs (mortgage, utilities, taxes, and insurance), closing costs, and selling expenses all need to fit comfortably within your budget.

Ask yourself:

• Does the home require major renovations?

• Is the scope realistic for your skill level and timeline?

• Do you have a financial buffer if something unexpected comes up?

You’ll also want to understand the tax implications. In Canada, selling a flipped property is treated as business income—not capital gains—and the principal residence exemption doesn’t apply. GST/HST may also come into play. It’s worth talking with an accountant so you’re clear on how your profits will be taxed.

Choose the Right Location

Location still matters—maybe more than ever. Look for areas where renovated homes are in demand and supply is limited. Access to schools, parks, transportation, and everyday amenities plays a major role in buyer appeal.

A “great deal” in a location buyers avoid can quickly become a costly lesson. A solid neighbourhood, even if the purchase price is higher, will typically offer more reliable resale potential.

Manage Your Timeline

Time is money with flipping. The longer a project takes, the more you’ll spend on carrying costs. Before committing, consider whether the renovation timeline is realistic. If the scope looks overwhelming or could drag on, it may be wise to walk away and wait for a better opportunity.

Work with Reliable Professionals

The right contractor team can make or break a flip. Quality work, completed on schedule, directly impacts your bottom line. Ask for references, view previous projects, and make sure everything is in writing. Cutting corners on labour often ends up costing more than it saves.

Permits Matter

If you’re making structural changes, additions, or altering major systems (like plumbing or electrical), permits are typically required. Build time into your schedule for approvals. Working without permits can lead to expensive fixes, delays, or required removals—and buyers today are very savvy about checking.

Know Who You’re Renovating For

Before swinging a hammer, think about who your future buyer will be. Young families? Investors? Retirees? This helps determine things like layout decisions, finishes, and pricing strategy.

Different buyers value different features. For example, a family might prioritize yard space and school zones, while downsizers might focus on one-level living and low maintenance.

Understand the Tax Rules

When you sell, the profit from a flip is typically taxed as business income and must be reported to the CRA. If you repeatedly buy and sell homes, even without major renovations, CRA may still consider it business activity. Understanding how this works ahead of time can prevent surprises.

If you’re considering a flip or wondering whether a property has real potential, we’re always happy to walk through the numbers, help evaluate neighbourhoods, and connect you with reliable contractors and local experts.
We're local REALTORS® in Kingston and area, and we work regularly with investors—from first-time flippers to seasoned renovators.

We participate in an amazing REMAX initiative and would love to tell you about it. REMAX real estate professionals believe in giving back to the communities in which they live and work, with a charitable focus on strengthening the foundation of this country’s great neighbourhoods. REMAX does this by lending support to valuable local initiatives, organizations and programs that make a profound difference in the care and quality of life for Canadian citizens, such as Children’s Miracle Network (CMN). Since REMAX and CMN first partnered in 1992, Canadian REMAX agents have donated more than $89 million to their local children’s hospitals through the Miracle Home or Commercial Miracle Property program. CMN raises funds and awareness for 12 Children’s Hospitals in Canada, and donations stay local to fund critical treatments and healthcare services, pediatric equipment and research.

Meet 11-Year-Old Evelyn

Evelyn is active, outgoing, and loves to dance and do cartwheels. But in Grade 2, her life took an abrupt turn in a direction that she and her family could not have imagined. Evelyn developed a fever and sore jaw which both a walk-in clinic and emergency room physician attributed to a virus. A week later, the pain and fever were back, and one side of her face was sore and swollen. After more physician visits, a blood test was ordered. That night, Evelyn’s mother got a call from the lab telling her to immediately take Evelyn to BC Children’s Hospital. Within hours, the family received unfathomable news – Evelyn had acute lymphoblastic leukemia (ALL). If not treated quickly, this type of leukemia could be fatal. Evelyn started chemotherapy the very next day and was treated at BC Children’s Hospital. In the beginning, Evelyn received her ALL treatment every two weeks, for four days at a time. She completed her treatment in the fall of 2021 and is now back at school, seeing her friends, performing again, and full of life. Her form of cancer is very curable if the patient receives the right care and at the right time. Thanks to BC Children’s Hospital, Evelyn quickly got what she needed and is thriving. This incredible story is just one from the thousands of children across Canada who stand strong in the face of illness and disease every day. They’re stories of hope, resilience, and love. But they also show how great the need is, across children’s hospitals from coast to coast. By choosing a RE/MAX Agent who participates in the Miracle Home or Commercial Miracle Property program, you are helping to give kids their childhoods back. By choosing a RE/MAX agent that is part of the Miracle Home or Commercial Miracle Property program, you are helping children’s hospitals deliver care, with nearly three million in-person and virtual visits taking place in 2021 alone.

The Miracle Home and Commercial Miracle Property Program

The Miracle Home and Commercial Miracle Property program is and exclusive program to REMAX agents, where participating agents donate on behalf of their clients after each property sale or lease. In 2021, REMAX affiliates across Canada have donated more than $5.4 million to Canadian children’s hospitals. When you buy or sell a property with a REMAX agent participating in the Miracle Home program, which we do, you can help make miracles happen. Once your property sells, we will donate to your local CMN member hospital on your behalf. You can feel good knowing that when you choose to buy or sell with us you are also choosing to help make a difference in a child’s life. Thank you for choosing REMAX. By positively changing the health of children, we will change the health of Canada.