How To Buy A Cottage Without Any Problems

Now may be the perfect time to buy the cottage you always dreamed of considering that the cottage real estate market was not spared by the economic downturn. The cottage country real estate market is now more balanced after years of the demand exceeding the supply. Time-share and new condo developments are offering generous incentives to potential buyers while the prices of resale properties are falling as seen in the Collingwood real estate market.

Securing the help of an area professional should be your first order of business. Just be sure you choose a real estate agent with a thorough working knowledge of recreational properties. An agent working in a region surrounded by cottages and lakes does not inevitably have experience selling cottage real estate. Experience selling in the recreational real estate market should be your determining factor when choosing an area specialist.

Zoning is a very important aspect to evaluate. You may be prevented in some cases from turning your cottage into a year round retreat by municipalities having adopted a season using zoning. The same is true for expansions and added constructions. Be sure you question your agent about the zoning by-laws in the community that appeals to you. The cottage associations handle the daily concerns while the zoning by-laws are established by the municipalities.

If you are looking for a waterfront cottage, be aware that you may not be able to modify the beach or shoreline on your future cottage. Adding fill or changing the slope of the property may be prevented from the authorities, as is the case for Collingwood cottages. You will also require permission to modify or construct structures such as docks, boathouses, retaining walls, etc that affect the shoreline. It would be wise to add a clause to your purchase agreement that warrant the legality of current structures or to make sure that modifications can be made in the future.

The road passage to and from your cottage is another area that should be investigated before finalizing a purchase. You should clarify if the road access is public or private, whether it is open year round, and who is in charge of the upkeep of the roadway. The access may be on a private right of way in some cases.

The sewage and water structures are another thing to consider. In most cases, water is drawn from wells or from lakes and rivers. It is important to have your water evaluated by the local health authorities to make sure that is safe to absorb. You may find out that the only way to obtain potable water would be with the installation of a mechanical purifier. Waste disposal is generally provided with a septic system and these are strictly regulated by the Environmental Protection Act. The septic system may be a crude device in many older cabins. You will need to update the system for a more adequate one if you plan on constructing an addition on the cottage.

A final consideration would be the financing of the cottage. You will require financial assistance, if like most buyers, you cannot afford to pay cash for the cottage. The quantity of financing available will vary but in most cases, financial institutions will require a minimum down payment of 20%. The financing options available for recreational properties should be evaluated with a local mortgage broken with knowledge of this market.


Stefan Hyross writes on topics that include Collingwood real estate and neighbouring regions. For more information about the Collingwood area, related real estate articles or to browse through Collingwood cottages, please feel free to go to the website.