Things to Look Out For When Purchasing A Cottage

With spring around the corner and the warm weather, many people may be interested in purchasing cottages. When buying a cottage or vacation property outside of town, there are several things to look out for and usually requires more due diligence than purchasing a home in the city.

Home Inspection

One of the reasons why a cottage or vacation property should be inspected is because they are often occasional residences and therefore may not be as properly maintained as they should be. Making an offer conditional on a satisfactory professional home inspection is a great way to ensure the home is sound and safe.

Water and The Well

It is important to find out if the water is drinkable. This can be confirmed by asking the seller for a potability certificate from the local health authority. It is also important to find out if the well, pump and related equipment have performed adequately during the seller's occupancy.

Septic System

Inspecting the septic system is a good idea as it can cost up to $20,000 in order for it to be replaced.

You want to know whether:

*The system was installed properly with all of the necessary permits

*The system has been adequately maintained and is working properly

*The seller agrees to pump out the tank at their expense before closing

*There are no work orders on file with the Ministry of the Environment or the local municipality.

*The buyer should arrange for their own separate inspection of the system itself.

Road Allowances

Many people have found out that either all or part of their cottage was built on land that they do not own only after they have purchased the property. Even if their cottage is next to the water, it does not mean that they own the land up to the lake. This means that the owners cannot build anything on that piece of land and they cannot stop others from using it.

Access to the Cottage

Buyers must find out if they have year round access to the cottage by a city road. If it is a private right of way over a neighbour's land, buyers must understand the terms of this agreement to ensure it is a year round access.

Reference: Mark Weisleder, A Toronto-Based Real Estate Lawyer