The price of waterfront homes in the Valley increased 70 per cent between 2020 and 2021 of Maclean’s, and each week here online, recent buyers divulge what they had to do to acquire the cottages of their dreams: pool family money, send relatives for viewings, hop on the first flight to Atlantic Canada post-bubble, or buy sight unseen, sometimes from thousands of kilometres away.
Looking back, I’m glad we put in a strong offer right away because we didn’t cross the finish line by a huge margin. There were eight other bidders, including two that came in at $245,000. If this cottage had been on the market five years ago, it probably would have gone for $130,000, and people would have bid under asking, but that doesn’t happen anymore.
The value of cottages out here will just keep rising. I moved from Halifax to the valley before high school, and tourism is booming here like never before. It’s the stark opposite of what we’ve seen for the last 50 years, when people would leave the Maritimes for bigger cities. The old saying went, “Head off down the road to make your living.” Now people are cashing in their $1.5-million homes in Ontario to build or buy in Nova Scotia for a fraction of the price—and pocketing the leftovers.
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