Looking for a Toronto weekend getaway place? A little cottage by a lake where you can wile away your free time? You are not alone. Cottage country has become big business of late in the GTA fuelled mainly by the skyrocketing urban market and the unaffordable cost of owning property in the city. However, given the popularity of lakeside living, the prices of country places have also started to rise, and where you might have been able to find a great place for under $200K in the recent past, such deals are becoming fewer and much farther between – and those with attractive price tags are usually little more than shacks requiring extensive work to be viable.
If you want to find a good place and a good price, then knowing your cottage country and what you want are key. Do you want to be beside a lake? How rural do you want it? How many bedrooms? What state of completion? What is your budget? Will you use it as a short-term rental? How much land do you want? All of these are crucial questions that need answering. They will determine the location of where you will buy, the price point you can afford and the type of property your agent needs to find for you.
Finding a good realtor who is familiar with the cottage country real estate market is crucial to getting what you want. A good agent will be able to direct you to those gems that might not be most visible, but have the right elements for what you want/need. Next, securing financing is in order. Your financial institution will be able to walk you through the process of securing a loan for your cottage property. Just be aware that it might be a little tougher than it would be if you were buying in the city.
Once you have your questions answered, you’ve found your realtor and secured your financing, it is time to hit the market! And, the minute you find your place and sign on the dotted line, you will become part of an exclusive but growing club of people opting for the comforts of the country over the city for their property purchase
If you want to find a good place and a good price, then knowing your cottage country and what you want are key. Do you want to be beside a lake? How rural do you want it? How many bedrooms? What state of completion? What is your budget? Will you use it as a short-term rental? How much land do you want? All of these are crucial questions that need answering. They will determine the location of where you will buy, the price point you can afford and the type of property your agent needs to find for you.
Finding a good realtor who is familiar with the cottage country real estate market is crucial to getting what you want. A good agent will be able to direct you to those gems that might not be most visible, but have the right elements for what you want/need. Next, securing financing is in order. Your financial institution will be able to walk you through the process of securing a loan for your cottage property. Just be aware that it might be a little tougher than it would be if you were buying in the city.
Once you have your questions answered, you’ve found your realtor and secured your financing, it is time to hit the market! And, the minute you find your place and sign on the dotted line, you will become part of an exclusive but growing club of people opting for the comforts of the country over the city for their property purchase
