By the time he fills up the SUV with the power boat in tow, Chris Webb figures he will spend up to $200 on gas this weekend to visit the Muskoka cottage with his wife and two children.
"That's a lot of disposable income, especially when you have to pay other costs such as daycare, so gas prices are a real concern, especially once you start doing this every weekend," the Markham resident says. "If they keep going up, you really have to start looking at alternatives."
According to a poll released yesterday by Royal LePage, almost one in five cottage owners say they would consider selling their properties if gas prices continue to rise.
"Reason, and a need to mind the bank account is likely to outweigh passion this summer," says Royal LePage.
According to the real estate firm, 19 per cent of respondents to a poll taken this month said they would consider selling their recreational home because of gas prices, up significantly by seven percentage points from last year.
Meanwhile, a third of respondents said rising fuel prices had already crimped their cottaging plans by reducing the number of trips they planned to take this summer.More...