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3 tips for finding the perfect cottage

Purchasing a cottage requires a certain level of preparation, similar to acquiring a new home.

“Think about the activities you would like to do at the cottage, the distance you are willing to travel and your budget. Then, search for the perfect home away from home,” suggests Martin Desfossés, real estate coach at DuProprio.

1. Your needs

First, determine how you plan to use the cottage. Your needs will guide your choice and facilitate your search. 

  • Does it need to be accessible year-round?
  • Will you be practicing winter sports, summer sports, water sports?
  • Will you be inviting several visitors at once?
  • Are you looking for a large property? Wooded or cleared?

2. The ideal location

Generally, people who are seeking a second home want to enjoy nature. 

  • What is the maximum distance you are willing to travel?

The asking price will be strongly influenced by the services nearby. For example, if you want to be near a waterway or a resort, you can expect to pay more.

“Usually, demand is higher when the cottage is located within 200 kilometres of a big city. A cottage in a remote area will generally be less expensive,” adds Martin Desfossés. 

3. Expenses to plan

A cottage involves expenses similar to a main residence.

  • Is the project realistic?

Calculate the home insurance, municipal and school taxes, hot water and heating costs you would have to pay. Don’t forget the notary’s fees and the transfer fees when finalizing the purchase. Finally, expect occasional expenses to maintain the property. 

Financing plan

Know that lenders have a different approach when financing a second home. The mortgage for your cottage could have more restrictions than the one for your main residence.

Talk to your financial advisor about the best way to proceed.