This article has the best three methods to find your dream cottage at a fair price. These are of course not the only ways to get into a waterfront, but are the methods we have observed to be the most effective in our years of real estate.
Look at Smaller Lakes
Smaller lakes are perfect for avid fishers and people looking for a quieter setting! Haliburton and Muskoka have lots of smaller lakes such as Salerno, Glamour, and Little Glamour, or Bruce, Pine, and Ottor. These lakes are great for all water activities with the bonus of having fewer people and being more affordable. Many properties feature shallow entry & sandy beaches, plus, deep waters are all still available and achievable at a much lower price in a true cottage setting.
Share the Property
As a second property you won’t be spending all your time at your cottage so consider going in with some friends or family and splitting the costs. Cottagelife.com offers a great article on sharing cottages with multiple owners, but essentially: communication is key.
Asking Price is not Necessarily Market Value
Pricing a cottage can be a difficult task because no two cottages are the same. Often the seller has a high emotional attachment to the cottage creating the idea that it is worth more than market value. Cottages are a discretionary purchase and can often be a discretionary sale where the seller does not have to sell and hence will price it at a premium. At the end of the day, if your research shows that market value is different from the asking price don’t hesitate to put in an offer at what you feel it should sell for. Often the seller knows what it is worth and is willing to negotiate.
Contact Team Cottage Country for All Your Real Estate Needs Today!
It is crucial to know what to look for and the factors to take into consideration when buying a cottage. If you are considering selling or buying a cottage or other type of property in the Muskoka or Haliburton areas, Chestnut Park’s Team Cottage Country is here. Our experience and expertise are built on in-depth knowledge of the areas. We help our clients get properties for a price that works for them while making sure we develop strong marketing plans to sell properties for top dollar. Contact us today to learn more and see how we can help you reach all your cottage real estate goals.