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Why buy a cottage versus renting one. That is the debate that has been mulled over by millions. Invest and hope for gain or simply go out and enjoy what nature has to offer without the worry of ownership.
With a desire to be in a specific area because of region, family or friends then you will no doubt consider buying versus renting. A cottage today in desirable areas run anywhere from a few hundred thousand into seven figures. You really need to take your time and decide what your budget is and the minimum you want in a cottage.
If you enjoy traveling and experiencing different areas then it is a no
brainer to rent unless you have deep pockets. The cost of renting a cottage
or cottages for even four weeks per year can mean only the taxes are covered
for the owner, one of the main reasons people rent out their vacation properties.
Things to consider before purchasing your Vacation Property.
1. Cost and budget constraints
2. Are you prepared for the chores around the property (lawn, painting,
etc)?
3. How many bedrooms, bathrooms or specialty rooms do you need?
4. What amenities do you want, (air conditioned, heated, insulated, etc)?
5. Do you want a beach, diving board or platform, docks, hot tub, etc?
6. Do you want a boat (size, motor, etc)
7. How close do you want to be to your neighbours?
8. Can your cell phone be reached in the area?
9. Can the property be rented out if you decide to do that.
Why ownership of a Vacation Property is good
1. Pride of ownership in an asset that grows in value.
2. A vacation property handed down generation to generation
3. Available anytime you wish.
4. An entertainment platform for invited family, friends and associates.
5. If needed it can be rented out to help offset the annual costs.
There are numerous more questions you can ask yourself before you make
a decision to buy versus renting. Things to further consider is that
you should be prepared to spend at least two percent of the properties
value annually on repairs and upkeep. You should have ten percent of
the value of the vacation property available for immediate use in case
of unforeseen disasters.
The Trent Severn Waterway resources: TTSW.ca: TTSW MAP - KM from any lock to any Lock - Details for all Locks - How Lock #21 works.
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Cottages for Rent, today, many cottage owners are renting out their private cottages to offset excessive taxes and levies. If you're looking for a cottage to buy in a specific area what better way to get to know the area, rent first.
Cottages for Sale, as markets for real estate change so does ownership of cottages properties. Take a close look there are still bargains to be had.
Resorts, if a structured vacation in the outdoors is your goal then there is no better place then to visit a resort or cottage resort. Many cater to families and have multiple outdoor activities for the kids every day.
Inns/B&Bs, you're more into traveling around and don't want to waste time finding lodging and restaurants then an Inn or a Bed and Breakfast fill the bill.
Houseboats, once you've experienced this kind of vacation if you're like most you're hooked. No traffic yet you have full mobility to visit towns and villages for shopping, dining or simply sightseeing or golfing at lakeside clubs.
Camping, is economical, comfortable and social allowing you the ability to visit large areas of a country or region while making new friends along the way.
RV Parks, recreational vehicle campers are a great bunch to get to know. Friendly and outgoing you'll find a new experience at every stop.
Marinas, it's always wise to scout out marinas if you plan to travel with your boat in tow or on the water so you can quickly arrange help if you require it.
Dining, what's a vacation without dining, well on today's budget at least one fine meal, do your research on the Internet and sit back and relax once started.