Has the pandemic been leading you to daydream of living outside the big city? Maybe having a nice place on the lake and a decent sized property?
You're not the only one.
Ray Ferris is a broker at Erie's Edge Real Estate, and tells Newstalk1010 that COVID-19 has led to people re-evaluating their priorities.
"A lot of buyers are looking to get out of the city and create new memories and celebrate milestones at a cottage with family and friends," Ferris says. "There's a lack of inventory right now — properties are selling really quickly because of the volume of buyers, and most of our buyers... are coming from the Hamilton area, Burlington, Oakville, Mississauga, and Toronto."
The reason for that — COVID-19 has led to a large number of people being able to work from home.
"Since COVID, we're seeing a lot of people have the ability to live in Cottage Country and work from their cottage," Ferris says. "The number one question that I'm asked today by prospective buyers when they come out here and look at real estate is 'How reliable is the internet service?'"
Ferris says prices are slowly starting to spike, as more people purchase homes outside the city.