This book is designed to help first-time buyers and long-time owners make the most of a cottage investment. Douglas Hunter provides expert advice on all aspects of ownership of a second home, from finding and buying the perfect cottage to selling it or handing it down to the next generation. The hundreds of tips and cautions, sample documents and comprehensive checklists lead to maximum enjoyment of a cottage and minimal unhappy surprises. The book is jam-packed with solid information and easy-to understand advice, including: How to choose the right location; Finding the perfect property to match a lifestyle; Finding 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 to minimize taxation in the U.S. and Canada; Trouble-free rentals and using a rental agent; 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. This all-in-one resource also identifies potential problems and offers effective solutions to common challenges.
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