Are cottages a good investment?
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.
Related Story A real estate agent’s 4 tips for buying a cottage sight unseen
Related Story 4 reasons to consider buying a cottage this fall