Comments on: Is a vacation property or cottage for you?

By: Luxury Vacation

Luxury Vacation — Tue, 21 Jul 2009 19:50:52 +0000

Good insightful information! This seems to agree with another article I read which says nowadays its better to rent a luxury vacation property than to buy.

By: Mitch

Mitch — Tue, 21 Jul 2009 18:23:15 +0000

Good article. I rent a cottage in the Muskoka region of Northern Ontario every year for 2 weeks. I could buy a place but financially I am way better off renting.
Between the mortgage, taxes, and up keep it doesn’t make sense (for me) to buy.

A really cheap place in the area starts at over $300,000 cdn and that is as fixer upper to say the least. Taxes are another few grand, to maintain the place you’re at anywhere to a few thousand if all goes well or much, much more after a disaster which do tend to occur more frequently in the ‘sticks’.

I’ve often wondered how so many people are able to afford a vacation property and why they choose to. For a few grand my family has all of the enjoyment and none of the hassle (except the traffic).

By: Florida Lake Property | Lake Houses and Properties

Florida Lake Property | Lake Houses and Properties — Tue, 21 Jul 2009 17:27:50 +0000

[...] Thicken My Wallet » Blog Archive » Is a vacation property or …Undoubtedly, some of you are spending your summer in a lake-side cottage, a golf-course resort or somewhere exotic. You may wonder to yourself, while you are lounging in the sun, what it would be like to purchase a 2nd home or … If you are a non-resident owning a vacation home (for example, a Canadian buying Florida property), some jurisdictions charge multiples of property tax to non-resident owners and waive any cap on property taxes (some jurisdictions have a freeze … read more… [...]

By: Michael James

Michael James — Tue, 21 Jul 2009 12:58:43 +0000

I’ve always thought that the economics of owning a cottage don’t make too much sense for most people. But the dream of spending time away from the rat race is compelling.