This Beautiful 2 Bedroom Three Storey Home Is Located In The Lovely Sheldon Creek Community Of Burlington. Step Up Into The Open Concept Main Floor With Spacious Kitchen Equipped With Brand New S/S Appliances And Breakfast Bar. Move Through The Living And Dining Spaces To Your Second Floor Balcony, Perfect For A Bbq And Your Morning Coffee. Upstairs You Will Find The Main Bedroom, A Spacious 4 Piece Bath, 1 Additional Bedroom And Convenient Access To Bedroom Level Laundry. Brand New Carpets Throughout. The Fully Finished Lower Level Family Room Boasts A Sliding Door Walkout To A Covered Deck, And An Easy To Maintain Landscaped Backyard That Adds Additional Living Space To This Well Designed Home. Don’t Miss Out, Book Your Showing Today!
Welcome To The Coveted Riverhouse! Nestled Between The Humber River And The Famous Old Mill Hotel & Spa, This Sunny 2 Bed/2 Bath Condo Is Merely Steps To The Subway And The Shops Along Bloor! Open Plan Living Features A Gourmet Kitchen Complete With Miele Appliances & Stone Clad Island And Counter Tops, Gas Fireplace, Hardwoods Throughout, And Floor To Ceiling Windows To Capture The Breathtaking Se Panorama. 5-Star Living At It’s Best! Not To Be Missed!
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If you’re considering buying a cottage in Canada and have been watching the market, you already know this market segment has seen a surge in competition between buyers over the last decade. In recent years, cabins and cottages have been in high demand, as interest in renting out personal properties for extra income has become more accessible through various online platforms.
While purchasing a cottage as a recreational property or even as a year-round home can be an excellent investment in both the short and long term, there are some important factors to consider during your hunt for the perfect getaway home. Below we break down five important factors to consider when purchasing a recreational property
5 Factors to Consider When Buying a Cottage
Year-Round Maintenance Requirements
Before purchasing your getaway home, it is crucial to have a thorough evaluation to ensure the home is weather-proofed for the summer and winter months. When considering year-round maintenance, key considerations include checking out the age of the roof, doors and windows. You’ll also want to confirm the level of insulation, including under the floors.
Cottage roofs typically undergo a lot of strain in the winter months as snow, ice and other debris accumulate over time. In addition, the age of the doors and windows is important because you don’t want to have any cracks or openings where animals or the elements can enter the cottage. If you aren’t planning on visiting your cottage to complete regular maintenance during the winter, having the roof, doors and windows in good condition can save you money and work come springtime.
In addition to the actual structural requirements, it is essential to familiarize yourself with the local by-laws for winter snow removal. Some regions have rules that state a pathway must always be cleared during the winter months. After reading up on the local by-laws, it might be worth the investment to find someone to check in on your cottage and clear away any snow, ice, or debris in your offseason should you live a far distance away.
Piggybacking on the year-round maintenance requirements is being aware of the type of plumbing the cottage has – or even if it has plumbing at all! When looking at cottages for sale, make a list of important amenities, such as having indoor plumbing. Many cottages don’t have indoor plumbing, equipped only with an outhouse. In addition, many properties in recreational markets run on a septic system which requires a different amount of maintenance, care and attention year-round.
Ease of Access
A cottage can be a great investment; however, location does play a significant role in whether it may generate rental income, as well as the times of year you visit your vacation home. A property that is only accessible by water will probably just be used as a summer home – and in this case, you’ll need to consider the price of purchasing a boat when buying a cottage located on an island.
Some properties in very rural areas may be accessible by car but might not have winter access as many backcountry roads are not maintained in the winter months.
Also, location when it comes to distance from amenities is important to consider. Many cottages are in very rural parts of the country, meaning the drive to a grocery store or gas station could be significant.
Before investing in a secondary residence, ease of access and location regarding other amenities are key factors to consider.
Rental Potential and Rules Surrounding Renting
Cottage homes can be an excellent investment if you also choose to use them to produce rental income. When purchasing a cottage as a rental property, key amenities are the number of bedrooms and bathrooms, ease of access, and location.
Suppose the idea of renting is your main driving force behind buying a recreational property. In that case, it is strongly advised that you review the rules and regulations regarding renting out seasonal property and learn your way around the different web platforms available for renting, such as Airbnb.
Taxes and Capital Gains
A cottage is known as a personal-use property, which means there are different tax implications. If the property is used solely as personal recreational property, there are other tax rules than if you decide to rent out your cottage. In addition, upon sale of the cottage, you will be responsible for paying taxes on any capital gain of the property.
Before making any significant financial decision and purchasing a property, it is essential to consider both your financial situation and your needs and wants in the property. Reaching out to a professional for advice is always a wise first step!
Courtesy of REMAX.ca
Fantastic Opportunity, Original Brick Bungalow Owned By The Same Family For Over 50 Years. One Of The Largest Lots On The Street – 27 X 120 Lot With Rare Private 5 Car Driveway & Addition Well Maintained Single Car Garage Still Leaving Plenty Of Room For A Pool Size Generous Backyard. High Demand Upper Bloor West Village Location Steps From Schools, Transit & All That Bloor West Has To Offer. Excellent Property To Renovate Or Invest In, Great Neighbourhood!
Spectacular Lot & Location! Nestled On A Coveted And Very Private Cul-De-Sac. Pie-Shaped Lot With Lovely Gardens. Fabulous Family Layout. Recently Renovated Throughout With Quality Workmanship And Finishes. Quartz Counters In Newer Modern Kitchen, With Upgraded Appliances, Renovated Baths, Fully Renovated Basement. Double Privacy Driveway With Double Garage,. Mudroom With Side-Door Access! It;S A Must See! Vacant Possession.
80 John St
Square Footage: 600-699
Move-In Ready Generous 4 Bedroom Family Sized Home In A Amazing Location! Tons Of Natural Light All Through-Out.Open Concept Layout.Beautiful Private Backyard Suited For Family Bbqs And Entertaining.Excellent Schools, Close To All Hwys, Transit, Directly Across The Street From Centennial Park Which Hosts The Etobicoke Olympium Pools, Community Centre, Double Surface Ice Rinks,Ski/Snowboard Hill, Golf Courses, Batting Cages, Go Karts, Volleyball Courts, Soccer / Baseball Fields.
Turn-Key Family Home Or Development Opportunity With Desirable Lot Situated On A Quiet Friendly Street In The Neighbourhood Of Cooksville.Featuring Walk-Out Separate Entrance Basement. Generous Fenced Private Backyard. Spacious Rooms All Throughout With Considerable Natural Light In Every Room.Amiable Kitchen With Walk-Out To Deck.Minutes To The Go Transit, Highways, Hospital, Parks, Shopping, And Port Credit.
Beautifully Maintained Executive Family Home In Charming Inglewood. Spacious Principal Rooms, Updated Kitchen With Breakfast Bar, Stainless Steel Appliances. Main Floor Primary Bedroom Complete With 5 Piece Ensure And Walk-In Closet. Finished Lower Level Boasts Gas Fireplace And Sauna. Private Garden Oasis With Inground Pool, Entertainment-Sized Deck And Cabana.