It seems to be a North American tradition to pack up the family and head out of the city for the weekend. Most of us dream of owning a cottage and having our little piece of heaven with clean air, trees and beautiful surroundings but without some initial legwork, the fantasy can become a nightmare.
The first question you should ask yourself is: can you afford to buy a second home?. Head to your bank to learn more about the various financing options such as a second mortgage or the increase of your existing one. Beware that you will be asked to have the income needed to make the payments.
Your next step will be to choose an area you will enjoy and can afford to buy. Many people choose a location based on the drive time from their house but other aspects should also be taken into account. Is short distance to a lake or ski hill important to you? In Ontario Blue Mountain real estate offers residents both quick access to the beach as well as very good skiing thus putting Blue Mountain cottages in high demand for both a winter and summer destination. Do you desire a heavily wooded lot with no neighbors close by?
You will need to consider the number of bedrooms, the structure and the condition of the house and its electrical and plumbing but you will also need to determine where your water sources from and whether your cottage is adapted for winter use. Find out if the road to your cabin will be opened year round by the municipality. Evaluate the condition and position of the sewage system, particularly a septic tank or tile bed. Look into the bylaws in terms of water sole access, hunter access and others crossing your land. Lastly you should find out if you will be able to modernize or add to the cabin.
You may want to determine the services that are close of your future cottage. Services such as grocery stores, ambulance and fire department, internet, cell phone and telephone access as well as a marina close by may be crucial to you and should be considered.
The decision to purchase a cottage is nerve-wracking and exhilarating. But, it should not be taken carelessly. Doing your research before you buy will ensure that you get the perfect cottage for you. Ask lots of questions, everything should be clear to you. Working with an experienced real estate professional will give you an advantage in locating and selecting the perfect cottage for your family.Before long, you too will be taking advantage of the nature from the patio of your new cottage.
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