Is it time to find that vacation home you’ve been dreaming of? The fall and winter can be a great time to start planning ahead. When buying a cottage for you and your family to enjoy, there are a few factors you’ll want to keep in mind to ensure the perfect fit!

Just as you would when buying a house, consider making a homebuyers checklist of everything you are looking for in a cottage so you can prioritize the essentials.

1. Privacy

How secluded do you want to be? Are you looking for a community of other cottagers, or would you prefer a quiet space to hide away? While more remote areas will provide the best privacy, you’ll also want to consider how close you are to shopping, dining options, and entertainment.

2. Accessibility

How accessible is the cottage you’re considering? Not just for you, but are emergency services able to reach you easily?  You may also want to keep in mind how accessible it is in the winter. Ask about road plowing and winter maintenance if you plan to purchase a winterized cottage.

3. Waterfront accessibility

For many people, one of the joys of owning a cottage is being right on the water, while others are happy to be close enough to walk over for a swim. You’ll pay a premium for the waterfront, so if you are content being within walking distance to the lake, maybe consider properties that are a bit further back.

If you decide to be right on the water, look into whether you will own the shoreline, as it may limit what you can build in the way of docks or boathouses.

4. Size of the lake

What type of water activities do you enjoy? Smaller lakes may not allow for motorized boats, jet skis, or water skiing, but they can be quieter and better for swimming.

5. Travel Time

How far away do you want to be from home? Travel time can be a significant consideration, especially during weekend cottage traffic. If you are only up on weekends, you may want to aim to be a bit closer to your home in the city. If you are up long stretches of the summer, more distance can help you get a more affordable property.

6. Amenities

Scope the area to see what types of shops, restaurants and entertainment are nearby. What amenities are important to you? Are you looking to dine out, shop, or hit the movie theatre while up at the cottage, or will you spend all your time relaxing at the lake? This is especially important to consider if you plan on renting your property when you’re not there.   

7. Winterization

Even if you don’t plan to visit your cottage in the winter, a fully winterized vacation home can be a huge plus if you plan on renting it out when you’re not there. It can be costly to do this later, so if it’s a concern, make a winterized property a priority when shopping.

8. Water Source & septic system

What type of water system is the property on? Some cottages in small towns are on city water, but others will draw their water from wells or the lake. If it’s a well, you’ll want to test it regularly to ensure it is safe for drinking.

Look into the septic system to ensure it’s been adequately maintained and in good working order. Ask for copies of inspections or approval reports, and be sure to add this to your pre-purchase inspection.

9. Landscape and environment

Are you looking for a lakefront, beachfront, small town, or wilderness? Consider the activities that are most important to you and your family. Are you looking to boat, fish, swim, hike or explore?

10. Internet

If you plan on working part-time at your cottage or renting it when you’re not there, how strong the internet connection is can impact your plans. Ask around to see if spotty Wi-Fi is in your future.

Costs to consider when buying a cottage

• Insurance costs

Insurance costs for vacation homes can be higher because they sit unoccupied for long periods. And if you’ll be renting out your property, you’ll need to top up your liability insurance.

• Maintenance costs

Two homes mean double the maintenance. Depending on how often you visit, you may need to hire someone to do the little jobs, such as mowing the lawn or watering the garden.

• Hydro prices

Depending on how far out of town you are, the delivery price for hydro can be much higher than in the city. Ask for an approximate hydro bill to factor it into your monthly costs.

5 Questions to ask Before Buying a Cottage

1. What will you use the property for – strictly vacation to escape the city, or will you spend long stretches where you’ll need to work and shop?

2. How often will you visit, and how long will you stay each time?

3. Will your cottage be an investment property?

4. What is your long-term vision for your cottage– do you plan on selling one day, or will this be the perfect place to retire?

5. How much use will the property get?

Buying a cottage can provide your family with incredible summer memories! If you plan to rent it out, a second home can also be an additional source of income. When choosing which area and cottage is the right fit for you, consider renting one in the area first. It’s a great way to see if you like the lake, town, and amenities.

If you need help choosing the right property for you, we’re just a call away!