Top Destinations for Canadians Looking for a Second Home
Canada has many amazing places of interest, such as the largest coniferous forests in North America, as well as the untouched tundra and Polar Regions in the north. However, when it comes to vacation destinations, nothing says relaxation more than sunny weather, beautiful tropical beaches, and turquoise waters. Escaping the cold weather and spending your vacation in a place like this will help you recharge and feel reinvigorated.
But what if that two-week vacation could be more than that? Can you imagine having your own home away from home, a place where you can go whenever you want, and where you can spend as much time as you want, relaxing and having fun? Apparently, many Canadians are thinking along the same lines, because their home buying destinations are all about finding that perfect second home on the most stunning golden beach. And who can blame them? Everyone has dreamed of a tropical paradise where they can enjoy balmy temperatures all year round and simply relax.
Whether they are looking for houses or condos, finding the perfect vacation home isn’t the only reason Canadians are searching for properties abroad though. Finding the perfect place for retirement or for an ambitious investment are equally sound intentions. However, no matter the reasons behind their decision, warm weather seems to be a must.
To discover Canadians’ preferred locations for their second home, real estate portal Point2 Homes analyzed their Google searches, using keywords regarding homes for sale abroad, in countries located in the Americas. The results prove that Canadians have some great home buying destinations on their wish list.
#1 Mexico – 18,780 monthly searches from Canada
Coming in at number one is, perhaps unsurprisingly, Mexico. Famed for its rich history and culture, its splendid beaches and cheerful festivals, Mexico is the number one choice for Canadians who are looking for a second home.
Puerto Vallarta is the most looked-up destination in the country, followed by Playa del Carmen, and Cabo San Lucas comes in third.
Real estate in Mexico is much more affordable than in Canada, with the average home selling price here (approx. 52,325 CAD) being more than 11 times less than it is in Canada (where the MLS® Home Price Index Benchmark Price is at around 602,000 CAD). This means investing in real estate here is not only great for your well-being, but for your pocket as well.
#2 United States – 11,300 monthly searches from Canada
Maybe proximity plays a big role, or maybe it is all about the great variety the US offers in terms of climate, locations, and entertainment options – no matter the reason, it is well-known Canada’s southern neighbor attracts millions of Canadian tourists every year, not to mention a lot of prospective home buyers.
In terms of housing affordability, the US has another advantage: it is more accessible than Canada. The median home selling price in the U.S. (312,482 CAD) is roughly half the Canadian one (602,100 CAD).
With the highest number of searches and the most sales activity concentrated in sunny Florida, California and Texas, it becomes obvious Canadians wish to escape their signature cold weather to enjoy spending time on a beach, in the sun.
And the weather is not the only advantage: the homes for sale in Florida are simply stunning, offering amenities like calm pools and lush gardens, with California and Texas real estate not far behind.
#3 Costa Rica – 9,770 monthly searches from Canada
This tropical oasis in Central America could be any Canadian’s dream. Its pristine beaches, majestic volcanoes, and unbelievably beautiful waterfalls offer endless possibilities of exploration for any type of vacationer, from the most adventurous to the most laid-back.
Although the country fell one place compared to three years ago when Point2 Homes launched the report, Costa Rica is still among Canadians’ favorites when it comes to ideal destinations for a second home. Spots like touristy Tamarindo and Jacó, as well as the beautiful Playas del Coco, Santa Teresa, Dominical, and Manuel Antonio are the most looked-up destinations for Canadians.
The median price of a home in Canada will buy luxurious houses and extravagant condos in any of the amazing Costa Rican beach towns, allowing those interested in owning property here to enjoy their own piece of heaven. And with a country motto like ‘Pura Vida’, meaning ‘Pure Life’, there is little doubt Costa Rica will truly become a second home for anyone thinking about buying a property here.
No matter what destination they choose in the end, Canadians looking for a second home know what they want: sunny weather, golden beaches, and lovely, turquoise waters. Whether they decide to invest in an amazing Florida house, or a spacious condo in Tamarindo, the cold will be a thing of the past.