AS much as the baby-boom generation was a breed of workaholics, their kids have a passion for enjoying leisure time.
And they aren't afraid to spend money to achieve that laid-back lifestyle.
Generation X is big into second homes as a way of escaping and hanging out.
Loosely defined as those born from the mid-1960s to the early 1980s, genXers are replacing their parents as a major force in recreation housing markets across Canada.
For the Xers, it's all about lifestyle, says a recent Recreational Property Report by Re/Max.
There has been a decided demographic shift, says the report highlighting sales, prices, trends and developments in 50 markets in Canada. Overall, the Re/Max report shows demand for recreation properties has nearly doubled from a year ago.
As far as the boomers' kids go, the report shows that 74 per cent of markets surveyed this year had a definite trend of this well-educated, financially sharp consumer group scooping up affordably-priced properties, whether a waterfront cottage, a chalet in the mountains or a resort condominium.
A year ago, a similar survey found this happening in just 40 per cent of the centres surveyed.
Many in this generation have families and have created a lifestyle around family that involves sharing more time with them.
"In the past, recreational properties were more of an investment," says Jessica Stoner, broker/owner of ReMax Alpine Realty in Canmore, Alta. "Now, it's lifestyle driven. A lot of generation X has kids and it's important to spend time with them, to do things with them--and a recreational property gives them that opportunity."
The level of activity by the genXers has to do with their mindset, says Elton Ash, regional executive vice-president of Re/Max Western Canada.
"More important than the investment aspect is the commitment to lifestyle," he says.
"It's more than simple transaction. Owning a recreational property underscores their dedication to family and balance."
There is much to consider when buying a recreation property, says purchaser David Cannell:
* Price is important, but ensure what you are considering buying fits your lifestyle.
* If you have pets, make sure regulations will allow them. Many condos don't.
* If you are thinking about renting your property out, again make sure it can be done.
* Think about distance. Do you want to drive four or five hours to and from the property for a weekend?
-- Canwest News Service
