COTTAGE BUYING TOP 10 TIPS
Top 10 Tips
Embarking upon the cottage buying process can be daunting. Identifying and narrowing down options are important first steps as is aligning with a reputable real estate agent who knows the recreational area. There are many things to consider, outlined here are tips to keep top-of-mind.
- Define your recreational needs (e.g. water sports or no sports, rustic or wired cottage, year round or seasonal)
- Determine if the prospective cottage and/or area will satisfy those needs (e.g. big or small lake, rocky vs. sandy shoreline, phone line accessibility)
- To really understand the area, vacation there
- Educate yourself on the various water systems (e.g. septic tanks, wells, and holding tanks)
- Find out what covenants/fees apply (e.g. road access, snow removal etc.)
- What is the proximity to amenities (e.g. hospitals, grocery store, marina facilities)?
- Are you a north shore or south shore person? Do you want a sunrise or a sunset?
- Hire a professional home inspector (e.g. is the cottage's foundation solid, can you build on it?)
- Determine what the local bylaws are with respect to building and permits
- Spring/summer is a good time to buy because you can see the quality of the shoreline/water, however you will likely pay top dollar. If you buy in the fall, you are likely to get a better price