The Cottage Ownership Guide
How to Buy, Sell, Rent, Share, Hand Down & Retire to your Waterfront GetawayBook - 2006
A second home is a complex investment and this guide has comprehensive, practical and easy-to-understand advice on all aspects, from finding and financing the perfect cottage, to selling it or handing it off to the next generation.
How to find -- and finance -- the dream waterfront retreat
The demand for waterfront getaways has never been stronger. Whether as a first-time buyer or a long-time owner moving to a different stage of life, The Cottage Ownership Guide will help readers make the most of their investment. It's packed with solid, easy-to-understand advice that will smooth the financial aspects of ownership -- from finding and buying the perfect cottage to selling it or handing it down to the next generation. Hundreds of expert tips (and cautions), sample documents, and comprehensive checklists will help minimize unhappy surprises and maximize enjoyment of the cottage.
Author Douglas Hunter has done the homework, identifying potential problems and offering tried-and-true solutions:
- How to choose the right lake or river
- Finding the perfect property to match lifestyle
- Acquiring the right real estate agent
- How to inspect a vacation property
- Cottage surveys
- Financing the purchase
- Co-ownership arrangements, including fractional ownership and time shares
- Strategies for minimizing taxation in the U.S. and Canada
- Trouble-free rentals
- Boosting market appeal when trading up or selling
- How to structure a cottage inheritance to reduce taxes -- and family disputes
- Retiring or relocating full time to the cottage.
Hunter, who writes about a variety of topics, provides a guide to buying and owning a cottage. He focuses on waterfront properties for personal use and does not discuss condos, ski chalets, or using the cottage as an investment property. The area covered includes Canada and the US and particular issues concerning purchasing, owning, selling, sharing, renting, retiring to, and bequeathing a cottage. He uses advice from owners and industry professionals to describe how to choose an area, search for a property, test the location, survey and inspect it, build on land, finance, and relocate. Distributed by Firefly Books. Annotation ©2007 Book News, Inc., Portland, OR (booknews.com)