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Georgian Bay is a township in the province of Ontario, Canada. If you're knowledgeable about Northern Michigan—Georgian Bay cottage real estate will sound familiar to you. If not, you're in for a treat.
"COTTAGE COUNTRY" AND UNESCO'S "GEORGIAN BAY LITTORAL BIOSPHERE RESERVE"
Georgian Bay Township is located in the district of Muskoka near the southern portion of a region made up of 30,000 islands at the Severn River basin. The area offers lakes, rivers, coastline, and navigable locks, and is considered so important by UNESCO that it's actually been designated a Biosphere Reserve because of its ecological diversity and importance.
Not only is its environment considered unique to the region, and a big summer vacationer's draw, the area is also famous for its real estate. Georgian Bay has become so well-known for its rental cabins—or cottages, as they're called there, where people come to enjoy the water and woodland paradise of the most famous townships of Ontario's "cottage country."
It's hard to find fault with Georgian Bay cottage real estate, especially now that larger cottages are being built which is driving up prices. But keep in mind that the area is like Northern Michigan as far as its independence on the manufacturing economy.
Worldwide, news often focuses on the auto industry's troubles in the "Motor City," of Detroit, and how that affects real estate (and all sectors of the economy) in Michigan. But Ontario is the second largest motor assembler in North America. Over 1 million people are employed in the manufacturing industry, and for the ten years prior to 2003 Ontario led all of North America in growth in manufacturing jobs. So, Ontario with its lakes and woodlands, wildlife and natural beauty is not just similar to northern Michigan in appearance, it faces many of the same economic issues.
Georgian Bay cottage real estate may still be the market for you, but be sure that you're investing or buying a piece of property that fits its purpose. If you want a summer cottage, there are deals everywhere. If you want rent to vacationers, however, you will be subject to changes in the economy. But Georgian Bay is still a highly desirable area that swells with vacationers every summer. The area attracts many visitors each year, but, make sure you know what's going on in Ontario's economy overall before you buy.
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