Senior Wealth Advisor and Senior Portfolio Manager Maili Wong was recently interviewed by The Globe and Mail to share her insights on the evolving landscape of recreational real estate in Canada. With prices softening in many regions, more families are asking whether this may be an opportune moment to consider a second home.
Maili highlights that beyond the allure of a getaway property, thoughtful planning is essential – particularly around cash‑flow impact, carrying costs, tax considerations, and long‑term estate implications.
From the article:
“There’s the personal enjoyment and fulfilment piece, and the emotional side, but there’s also the financial side to consider,” says Maili Wong, senior wealth advisor and senior portfolio manager with the Wong Group at Wellington-Altus Private Wealth Inc. in Vancouver.
She points to financial considerations beyond the property price: taxes, insurance, maintenance and another mortgage, if necessary – all of which can affect a family’s budget significantly.
“As advisors, we’re making sure clients understand and don’t underestimate how recreational property can affect their cash flow and flexibility,” she says, including their ability to travel, pay for major expenses, such as a new vehicle, or pitch in to pay for a child’s university or a down payment on their first home.
To read the full article and gain access to Maili Wong’s insights, click here.
If you have any questions about how this relates to you or your investment portfolio and financial plan, please give us a call at 778 655 2410 or email us at thewonggroup@wellington-altus.ca
Sincerely,
Maili Wong, CFA, CFP®, FEA
Senior Wealth Advisor, Senior Portfolio Manager
Wellington-Altus Private Wealth Inc.
Advising Representative
Wellington-Altus USA Inc.
Maili Wong is a senior portfolio manager and senior wealth advisor at The Wong Group at Wellington-Altus Private Wealth and the Amazon best-selling author of ‘Smart Risk.’ She has over two decades of experience in the finance industry and was named Canadian Advisor of the Year for a third time in 2025 by Wealth Professional Magazine.
