Think life at the cottage is nothing but hanging out on the dock, relaxing and spending time with family and friends? Well, it mostly is! However, if you are thinking of buying a cottage in Muskoka, it’s important to know that it can be a little more complicated than purchasing a residential property. In order to give you a bit of an overview of some key considerations, here are four of the top four cottage conundrums you may encounter:
Hidden Challenges
There are a few hidden challenges when it comes to cottage ownership that first-time cottage owners may not be aware of. Septic systems, for example, are something you’ll need to check before you sign the dotted line. If there isn’t a septic system in place, or the current one is pretty old, you’ll have to spring for a replacement, which can be quite costly.
Property disputes are another challenge that may arise. It’s not uncommon for boathouses, docks and even cottages or bunkies to be built outside of your property line. Before you purchase, it’s important to understand exactly what you own. To find out more about how to avoid property disputes, as well as the other hidden challenges you may come across, you can check out this link.
Keeping It Safe in The Off-Season
If you don’t intend to winterize your cottage and use it year-round, it’s important to have a plan for keeping it safe during the off-season. Unfortunately, cottage break-ins are not uncommon in the Muskoka region, so you’ll want to take steps to deter potential thieves, if possible. Having a neighbour check on your property or paying to have your driveway cleared the in the winter can help prevent your cottage from being the target of a break-in. You’ll also want to make sure you’ve considered things like snow build-up on your roof, and how to deter critters from moving in. For more tips on keeping your cottage safe in winter, check out our blog here.
Estate Planning and the Family Cottage
It’s often the case that cottages are used and enjoyed by the entire family. It’s also often the case that cottage owners would like to keep the cottage in the family. If you’ve just purchased (or inherited) a cottage, it’s important to think about your estate planning and how your cottage fits in your will. Check out our blog article discussing estate planning and your cottage to learn more about how you can ensure your cottage is enjoyed by generations to come.
Real Estate Lawyer Reality
Septic systems, property disputes, municipal bylaws, environmental protections – buying a cottage can be complicated. It’s important to protect yourself and know exactly what you are getting into before you sign that purchase agreement. The reality is, working with a real estate lawyer who is familiar with the area and the nuances of cottage ownership will help make the purchasing processes a lot less stressful.
At Ares Law, we specialize in real estate law in Bracebridge, Parry Sound, Huntsville, Gravenhurst and the larger Muskoka region. We love helping clients realize their dream of owning a piece of paradise in Muskoka and we want to ensure you avoid encountering common cottage conundrums. If you’re looking to purchase in this area, call us today at (705) 645–8743 to learn how we can help.
