| Now may be the best time to buy the cottage you | | | | permission before they can be constructed or |
| always dreamed of considering that the cottage real | | | | modified. You need to be sure the legality of the |
| estate industry was not spared by the economic | | | | existing structures or that changes can be made in the |
| downturn. The cottage country real estate market is | | | | future and this can be achieved with a clause in the |
| now more balanced after years of the demand | | | | purchase agreement. |
| surpassing the supply. Time-share and new condo | | | | Before concluding your purchase, you should research |
| developments are offering generous incentives to | | | | the road access to and from your cottage. Aspects |
| possible buyers while the prices of resale cottages are | | | | such as who is in charge of the upkeep of the |
| falling as seen in the Collingwood real estate market. | | | | roadway, whether the road access is public or private |
| Securing the help of an area specialist should be your | | | | and if it is open year round should be determined. The |
| first order of business. Just make sure you choose a | | | | access may be along a private right of way in some |
| real estate agent with a in depth working knowledge | | | | instances. |
| of recreational properties. An agent working in an area | | | | The sewage and water systems are another element |
| surrounded by cottages and lakes does not inevitably | | | | to consider. In many cases, water is drawn from wells |
| have involvement selling cottage real estate. | | | | or from lakes and rivers. It is crucial to have your |
| Experience selling in the recreational real estate market | | | | water tested by the local health authorities to make |
| should be your determining factor when choosing an | | | | sure that is safe to absorb. You may need to install a |
| area specialist. | | | | mechanical purifier in order to receive potable water. |
| Zoning is a very crucial aspect to evaluate. You may | | | | Waste disposal is usually provided with a septic tank |
| be prevented in some cases from changing your | | | | and these are tightly regulated by the Environmental |
| cottage into a year round residence by municipalities | | | | Protection Act. In many of older cottages, the septic |
| having adopted a season using zoning. The same is | | | | system may be a crude improvisation. If you are |
| true for additions and added constructions. Be sure | | | | planning to build an addition on the cottage, you may |
| you ask your agent about the zoning by-laws in the | | | | need to change the septic system as it will most likely |
| area that appeals to you. While the zoning by-laws are | | | | no longer be adequate. |
| passed by the municipalities, day-to-day concerns are | | | | Financing of the property should be your final |
| dealt with by the cottage associations. | | | | consideration. You will require financial assistance, if like |
| If you are in the market for a waterfront cottage, be | | | | most purchasers, you cannot afford to pay cash for |
| aware that you may not be able to modify the beach | | | | the property. You will be asked to put down a |
| or shoreline on your future cottage. Adding fill or | | | | minimum down payment of 20% although the quantity |
| changing the slope of the land may be prevented from | | | | of financing available will change with each financial |
| the authorities, as is the case for Collingwood cottages. | | | | institution. The financing options available for |
| Any structures that impact the shoreline such as | | | | recreational properties should be evaluated with a local |
| boathouses, docks, retaining walls, etc require | | | | mortgage broken with knowledge of this market. |