News Articles

Created: 2009-11-03 11:45:49
You may be a seasoned cottager, one who bought 15-20 years ago. You bought a cottage to buy valuable time with your family or just to retreat to nature, peace and quiet. The years pass by very quickly…the children may now be in another part of the country or just not able to get to the cottage, you may be thinking it’s time to move on to the next chapter. That cottage that you bought just keeps giving. Have you ever considered what the cottage can do for you now you have retired? If your cottage is paid off it may be worth up to half a million dollars but if it is only worth $250,000; it’s an asset that could free up a lot of monthly money.

Based on a $250,000 sale (invested @ 6%) your income (off the principal) is $15,000/year
Monthly money you were spending:
Taxes, Insurance and Maintenance = $5,000/year
Total = $20,000
*The cottage you purchased, and if sold, could add $20,000/year to your annual income.

Maybe it’s time to call the waterfront specialists to advise you of the value of your cottage. Most area cottages sold from $250K-$350K in the 2009 season, we still have many registered buyers. Those folks will have the same pleasure you have had; all those years of wonderful memories and an investment that when it comes time to sell just keeps giving!

Call us for a fall sale or to have an evaluation or get registered as a spring listing with Lake District Realty…..The Waterfront Company™.