Tuesday, 11 December 2018
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This Old House - Do-it-Yourself

What to Consider When Purchasing a Cottage

Written by Posted On Thursday, 31 August 2017 14:16

Many individuals make the decision to buy a cottage. However, during the process, many individuals make mistakes when purchasing a cottage. There are so many options out there, buying the right one can seem difficult. Not only that, but trying to make the decision about whether or not purchasing a cottage at all is a good decision can be difficult. Here are some things to consider before purchasing your cottage.

 

Location

The first thing that you want to think about is where a good location would be for a cottage. You do not want to buy a cottage in a location that you nor your family ever visit. You want to ensure that your cottage is located somewhere peaceful that your family will enjoy visiting. Your cottage is typically going to be used as your get-away home or your vacation house. There is no point in spending the money on a cottage unless you know that you are going to enjoy the location of the home.

 

Affordability

The next thing that you want to consider is your finances. There is no point in going through the process of looking at available cottages for sale if you can’t afford to purchase one. There are many things that you are going to need to consider when making this decision. You should consider the costs of everyday living. Think about your budget. How much do you spend on food every week? How much do you spend on gas, maintenance for your vehicles, mortgage, repairs on your home, lawn care, etc? Then think about how much extra the cottage is going to cost you. If you purchase a cottage, you are typically going to have to take out a loan to buy it with. This means you will have another house payment to make every month. You are going to have to be able to afford to keep the place clean and maintained. Does your budget allow for this? If not, you may want to consider renting instead.

 

Is it a smart decision?

There are ways that you can purchase a cottage and not break the bank. You could consider renting a cottage out when you are not using it. This can help take some of the costs for keeping and maintaining the cottage off your back. However, if you and your family are never going to use the cottage, it may not be a smart buy. If you plan to use it often, like whenever you can, then it is probably going to end up saving you money rather than renting all the time. You want to make sure that you are not making a decision that you will regret later. Make sure that you discuss the decision with your loved ones and think about it carefully before making a purchase.

Listing Additional Info

  • State: New Hampshire
  • Address: ..
  • City: Alton Bay
  • Zipcode: 03810
  • SOLD: no
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