Things to Consider When Buying a Cottage for Summer

With summer in full swing, the cottage real estate market is red hot.

While searching for the perfect cottage sounds like a dream, primarily those sold by Lake of Bays realtors specializing in prime Canadian cottage country.

But buying a cottage shouldn’t be a spur-of-the-moment decision made without research, and there are some considerations one should make when selecting a property.

Here are some essential things to consider before offering a cottage.

Winterized

Especially if you’re from a region such as Canada, you are likely familiar with how frigid the winter months can be. You need to consider plumbing, electrical, insulation, and windows when winterizing a cottage, so you should be aware of your options before making a purchase. A properly winterized cottage will increase its value and provide you with the option of using it or renting it out all year.

Insurance Costs

Due to the potential for long periods of vacant occupancy, cottages may incur greater insurance expenses due to a lack of vacancy to upkeep or make timely repairs). Additionally, the likelihood of weather-related problems is generally higher.

For instance, you have a greater danger of hurricanes and flooding in coastal places. Island cottages are less desirable to insurers since they are more difficult to access. Additionally, you will unquestionably need to upgrade your insurance if you plan to rent it out.

Maintenance Fees

Cottage upkeep is typically different from full-time residential property care. There are various elements involved, and since you won’t be there constantly, you could need someone to come in and maintain the property, whether it’s mowing lawns, raking leaves, tending to gardens, etc. Before making a purchase, research potential costs and take them into account.

Accessibility

The peaceful, secluded setting apart from the rush of daily life is one of the best things about cottages. However, access problems are common in rural areas. Is the cottage accessible by road, or must you travel there by means such as a boat? Will the roads be cleared of snow during winter? Before making a purchase, make sure you know the answers to questions such as these.

Surroundings

Lakefront or Forest views? When purchasing in the summer, keep in mind the winter and vice versa. Consider accessibility for persons with restricted mobility, such as the elderly and people with disabilities. Some folks may find it challenging to get to the lake if there are numerous stairs leading there. Similarly, it will be difficult for certain individuals to get there if there is a long or difficult walk from where you park the car to the actual cottage.

Amenities

If you intend to spend an abundance of time at the cottage or plan to rent it out, you should be aware of nearby conveniences like restaurants, grocery stores, the closest fire station, hospitals, and so forth. If you’re searching for something remote, it’s acceptable, but these factors can affect your insurance rates and the possibility that you’ll be able to rent it out. To ensure the safety of you and your guests, do some neighbourhood research to become familiar with the distances to the things you might require.