There’s nothing quite like escaping to your own cabin, lakefront cottage, or secluded getaway in Manitoba. But before you jump into buying a recreational property, it’s important to understand what goes into it.
1. Financing Can Be Different
Recreational properties often don’t qualify for the same mortgage terms as your primary home. Depending on accessibility, utilities, and year-round use, lenders may require larger down payments or shorter amortization periods.
2. Access and Seasonal Use
Consider whether the property is accessible year-round. Some cabin roads aren’t maintained in winter, which can affect not just your use but also your insurance and resale value.
3. Utilities and Services
Check how the property handles water, sewage, and power. Is there a well or cistern? Septic or holding tank? Off-grid systems are common but require maintenance and additional costs.
4. Insurance and Taxes
Insurance rates can vary widely for seasonal or remote properties. Make sure you understand the coverage you’ll need, including for things like fire protection and rental use.
5. Long-Term Vision
Think about how you’ll use the property — as a family retreat, rental investment, or future retirement spot. Each use comes with different considerations for zoning, maintenance, and return on investment.
Buying a recreational property is about more than just the dream — it’s about making a smart, informed purchase. With the right Realtor® experienced in rural and recreational real estate, you can find that perfect balance between lifestyle and value. Reach out if you want to chat about your Dream Escape!
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