It seems to be harder every year to find an afforable waterfront property less thean 3 hours from Toronto. In the Muskoka area good cottages seem to start around $600,000 to $700,000 which is out of reach for most people. As we get a little further north to the Parry Sound region prices come down a little. From time to time you can find a fixer upper for under $400,000 but usually the lot it sits on is less then perfect.
We just listed this cottage on Whalley Lake just outside Magnetawan which is reasonably priced and move in ready.
Here's the write-up as it appears on the MLS;
This comfortable 5 bedroom cottage on Whalley Lake sits on over 1 1/2 acres and offers great privacy. The main floor features large Muskoka room, kitchen, 2 bedrooms, 3 piece bath and a bright, open living / dining area overlooking the lake. The lower level has 3 more bedrooms, bathroom and family room with walk out. There's both deep water at the dock and shallow entry at the private sandy beach. 4 Season Cottage or Home for sale, 261 West Whalley Lake Road, Magnetawan, Ontario