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Buying A Second Home In Muskoka While Owning Property In Toronto
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Buying A Second Home In Muskoka While Owning Property In Toronto
A Toronto owner who buys a cottage in Muskoka needs approval from a lender, a tax position the Canada Revenue Agency will accept, and, if the cottage will be rented, a licence from the township. Each of these treats a second property differently from a principal home, and each applies at a different stage of the purchase. Prices are lower than they were 4 years ago, with the median waterfront price in Muskoka at about $950,000 in May 2026, rough…
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