1. A cottage for every personality
A mountainside chalet is ideal for skiers; hunters might prefer a cabin in the woods; those who like their creature comforts might go for something more upmarket.
There’s a cottage for everyone. Whether you’re buying one for yourself, your family or as a place to share with friends, make sure that your choice reflects your needs and your personality. There’s no point in compromising on such a major purchase. Your enjoyment is the most important consideration – after all, since it’s supposed to be a place for relaxation and recreation, you might as well make sure that you’ll feel comfortable there for a long time!
If your cottage needs renovations to make it more to your liking, check current regulations.
2. Make sure the area has no surprises for you
Before buying a second home, become thoroughly familiar with the region and learn all about its hidden treasures.
Begin by determining whether the cottage is within easy reach of the various businesses you would use. How far is the nearest grocery store? Is there an SAQ nearby that can keep you replenished with lakeside cocktail fixings? How about a hardware store for your basement repairs, or a replacement for the garden hose your son shredded?
Spend a lot of time perusing maps for beautiful landscapes, spas, ski resorts, walking trails, country restaurants, farm-based cheese dairies, charming vineyards and friendly microbreweries. Take the time to explore the countryside as widely as possible to make the most of everything the region has to offer.
3. Keep a calculator handy
In addition to the cost of buying the cottage of your dreams, don’t forget that there may well be other significant expenses.
So do the math! Appraisal, surveying, insurance, legal fees and moving expenses – it can all add up quickly. Almost all the expenses involved in buying your principal residence will apply. And for a second home, don’t forget that annual maintenance expenses will be approximately 2% of the acquisition cost.
4. The land is as important as the cottage itself
Before buying, be as methodical as a home inspector.
A site analysis is extremely important: don’t skip this step if you want to avoid future problems and expenses. For example:
- ask yourself whether the cottage is in an area that might be subject to landslides or flooding;
- make sure you ask for the certificate of location and do all the inspections required to ensure that the septic tank is in good condition;
- and last, but certainly not least, check the water supply and water quality – there’s nothing worse than smelly and foul-tasting water!
5. Enjoy the lake, but do it right!
Don’t forget to check out all the regulations applicable to the lake.
Municipalities enact guidelines that protect the environment and regulate noise levels in everyone’s best interests! Some people enjoy their personal watercraft, but it can be a headache for others; if you’re keen on motorized water sports, you should find out whether there are any restrictions.
You should also check whether fishing is allowed, and if so, under what conditions.
The devil is in the details! Cottages are different from other homes because they need ongoing careful attention. When you look into our cottage or secondary residence insurance, ask your broker about all the above considerations to make sure that you have all the protection you need.