Cottage buyers often face surprises when trying to finance their purchase. Suddenly challenges that did not affect your home purchase rise to the surface.
- no municipal water and sewage
- seasonal (or no) road access
- structure not built to code
- property encroachments
- waterfront valuation concerns
Furthermore, your financing of a second property should definitely take into consideration optimizing the tax consequences.
Arrange a call with us to map out your cottage financing strategy.
Mortgage brokering provided by Paul Fettes, broker to Verico Reliance Mortgages FSRA 10357