Americans Are Coming to Muskoka — And Lake of Bays Is Ready for Them
There's a shift happening north of the 45th parallel.
The Toronto Star reported this week what many in cottage country have been sensing for some time: Americans are looking at Muskoka — seriously looking. (Read the full article here.) Not just for summer rentals or weekend getaways, but for property. A place to plant a flag outside the noise of what's happening south of the border.
It's not hard to understand why.
Muskoka has been called the Hamptons of the North, the Malibu of the North, and the Como of the New World. The New York Times has written about it. Hollywood has lived in it for decades. And the Canadian dollar currently offers American buyers meaningful purchasing power that makes the math even more compelling.
At the same time, a property just came to market in the heart of Lake of Bays that deserves a closer look — from buyers on both sides of the border.
3711 Brunel Road, Baysville — Nearly 9 Acres in Lake of Bays, Muskoka
This is not a waterfront listing. Let's say that upfront.
But for the right buyer — someone who wants deep privacy, genuine space, and the feeling of being truly away — it may actually be a better fit than a crowded shoreline lot.
Set on 8.82 acres of Muskoka forest in the Township of Lake of Bays, 3711 Brunel Road is a five-bedroom, three-bathroom year-round home with a detached two-car garage and two lakes on its doorstep. Tooke Lake sits directly across the road. Lower Schufelt Lake lies behind the property. Neither is deeded waterfront — but the natural presence of water on both sides creates a setting that is genuinely uncommon even by Muskoka standards.
The home offers 3,275 square feet of year-round liveable space. It's accessible in every season. It's 20 minutes from Huntsville and a 2.5-hour drive from Toronto.
Asking price: $975,000 CAD | MLS® X13118662
What American Buyers Need to Know
If you're a US citizen eyeing this property, here are the key facts.
The federal foreign buyer ban does not apply here. Canada's Prohibition on the Purchase of Residential Property by Non-Canadians Act restricts purchases within Census Metropolitan Areas and Census Agglomerations — urban and suburban centres with populations above defined thresholds. Lake of Bays is rural Muskoka. It falls outside those boundaries entirely. An American buyer can purchase this property.
Ontario's Non-Resident Speculation Tax does apply. At 25%, this is a significant cost to factor in — approximately $243,750 on a $975,000 purchase. This is a real number and any responsible agent will tell you so upfront. That said, the current USD/CAD exchange rate softens the blow considerably for buyers holding US dollars.
Financing is available. Major Canadian banks including RBC, TD, and Scotiabank offer mortgage products for American buyers, though expect a higher down payment threshold — typically around 35% for non-residents without Canadian credit history.
The timing is real. The federal ban expires January 1, 2027. When it lifts, foreign demand for Canadian residential property — particularly in lifestyle markets like Muskoka — is expected to increase. Buyers who move in 2026 enter ahead of that wave.
This post is informational only and does not constitute legal or tax advice. American buyers should consult a qualified Canadian real estate lawyer and cross-border tax advisor before purchasing.
Why Lake of Bays?
Lake of Bays is Muskoka without the traffic. It sits in the northeastern corner of the district — quieter than the Big Three lakes corridor, more insular, and deeply loyal to its own character. The village of Baysville has a general store, a marina, a pub, and one of the best sunsets in the region. Huntsville — with full grocery, medical, dining, and amenities — is 20 minutes north.
For buyers who've priced themselves out of Rosseau or Joseph, or simply don't want the boat parade of peak summer, Lake of Bays is where serious cottage country buyers have been quietly landing for years.
Book a Private Showing
Properties with this much land, this much privacy, and two lakes in the frame don't show up often in Muskoka. If you're in Ontario or calling from the US, reach out directly.
Bill Jackson | Sales Representative, CLHMS, GUILD™
Lake Country Real Estate Team | EXP Realty Brokerage
📞 705-242-5764
📧 bill@lcre.team
📅 Book a 15-minute call
Bill Jackson is a Sales Representative registered with EXP Realty Brokerage. The CLHMS designation and GUILD™ Recognition were awarded by the Institute for Luxury Home Marketing in March 2026. Market data referenced is sourced from publicly available reports. This post does not constitute legal or tax advice. Buyers are encouraged to conduct independent due diligence.
