The decision has been made, you’re going to buy a cottage. You dream of a precious retreat, where you can disconnect from city life and reconnect with your family and friends. This is the place where life long memories will be made, a place to be treasured for generations. With all these emotions running high it’s hard not to act impulsively, so The Parker Team has put together a list of things to consider when you go searching for your perfect Muskoka spot.
- Consider your budget. Not just how much you want to, or can afford to, spend on a cottage, but also things like what you’ll want to spend to make it your own, any repairs that will need to be done, toys that you’ll want to purchase (think boats, canoes, kayaks, ATV’s, snowmobiles). Consider speaking with your bank or a local mortgage broker before beginning your search.
- Is it going to be year round or seasonal? A year round cottage tends to be a bit more pricey than a seasonal cottage, but also has benefits not often seen in a seasonal cottage such as a furnace and a year round water source. Seasonal cottages tend to be more basic, and financially may have a smaller impact on your day-to-day budget.
- Where will the cottage be located? How far will you consider commuting from home? How close to the nearest town / hospital would you like to be? What type of vehicle will you need to get to it? Have you considered boat access? Do you want to be close to friends or family?
- Who will use the cottage? Do you have young children? Aging parents? Do you or your family have any physical limitations? Is this part of a longer term plan? Will you retire to the cottage? When you are out looking at potential cottages consider things such as: the slope of the land, the number of stairs to the waterfront, if you want a bungalow or two story, and how many bedrooms will you need.
- Consider the use of the waterfront. Do you intend to use it for swimming? For young children? Is your primary use going to be boating? How deep is the water? Is it weedy? Hard packed sand? Is the fishing good? What exposure does the waterfront have? Do you want morning sun?
- Is the shore road allowance owned? How will this impact your decision?
- Do you want the cottage for the spring? If so consider making your purchase in the fall.
- Interested in Building? Read our Blog on Buying Vacant Land.
As you begin your cottage search, speak with The Parker Team. We are happy to show you what Lake of Bays and Muskoka has to offer, and help you determine what it is that will suit your needs and wants. Call us today at 705-349-005.
