Q&A

Are cottages a good investment?

By Kim PittawayKim Pittaway

22681_1315881073_CATHERINE_CARPENTER_View-of-house-overlooking-the-Harbour

Photo by Catherine Carpenter

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The Question

Are cottages a good investment?

The Answer

It depends. “A cottage property is a lifestyle investment,” says Smiths Falls realtor Pauline Aunger, and while many properties have increased in value, the recreational value should be considered first. Still, she says, “God isn’t making any more waterfront. We have people from Europe and the US who buy here, and that speaks volumes to the stability of the Canadian real estate market.”

“A cottage is a financial investment,” argues Chris Winney or Royal LePage ProAlliance Realty. And if you want to maximize the value of that investment? “Ideally, you want to buy a property that ninety-five per cent of other people would want to buy too”—paying particular attention to the things you can’t change, such as the shoreline, the lake, which way the lot faces, and travel time.

 

 


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mtokarczyk@roadrunner.com

greenjeep2005

Feb. 17, 2012

9:28 pm

I have to say a cottage is a great investment. I don't know how our parents did it, but they established a fantastic legacy, that their sons, and their grandchildren and beyond will always treasure!


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