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Autumn is the Ideal Season to Shop for a Waterfront Cottage in the Kawarthas

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Autumn is the Ideal Season to Shop for a Waterfront Cottage in the Kawarthas

Date: 10/22/2014

The cottage market starts to stir in the early spring as the last, stubborn vestiges of snow finally give way, and it begins to feel as though the best weather on offer is ahead of us. Buyer interest in waterfront properties peaks in spring through early summer (April, May, and June). Waterfront real estate shoppers are keen to buy in the spring to ensure they take possession of their new cottage in time to enjoy it for the whole summer. There are also lots of recreational properties to choose from at this point of the year. Indeed, inventory is at its height. Market interest in waterfront properties begins to wane in the autumn as prime recreational season draws to a close and next summer seems like a distant promise.

The cottage market comes to a virtual standstill in the dead of winter when the bitter cold feels unrelenting. In a northern climate like the Kawarthas, winter puts a damper on cottage property showings and the season marks the bottom of the market demand cycle. Prospective buyers can often access properties by road and arrange showings.

Nonetheless, buyers are typically hesitant to commit to a cottage purchase in the winter when the cottage property is under wraps or shrouded in snow and ice. Every point within the market demand cycle has an upside and a downside when it comes to buying a cottage. Perhaps you’re wondering about the advantages and the disadvantages of shopping for a waterfront cottage in the Kawarthas in October and November.

“Well, autumn is a great time to start thinking ahead,” says Gail McCormack, broker and owner of Kawartha Waterfront Realty. “The market is a little quieter, and your chances of landing a good deal are better now than in the spring,” she adds. Competition from other buyers has thinned out and “the price can be right.” “It’s the time of year when you get people out looking for bargains.”

Sellers are also motivated to part with their recreational properties in the autumn. “They’ve held onto the cottage to enjoy it over the summer and by selling it now they can avoid shouldering winter operating and maintenance expenses,” says McCormack.

A seller who accepts an offer and closes the deal in the autumn can pass on the property’s winter operating expenses and heating costs to the buyer. Although winter operating costs can be considerable, you’ll also be able to enjoy the cottage over the cold-weather months if you tap into the market in the autumn. In fact, people are spending more of the winter at the cottage. There are also lots of outdoor activities in the Kawarthas that will lure you to bundle up and have fun in the cold. In October or November, you won’t be touring a property at the height of recreational getaway season. But you can still come away with a good idea of what the cottage and the surrounding landscape will look like in July and August. A thick blanket of snow doesn’t conceal the waterfront, which is inevitable by January. In autumn, you can still get an accurate read on the property’s ground cover and landscape. It’s still possible to stand at the end of the dock and look at the bottom of the lake. And for the most part, you can tell what swimming off the property will be like in July.

Nonetheless, buying a cottage off-season has its challenges. You don’t have a chance to obtain a first-hand picture of how others make use of the lake during prime season. And it is more difficult to get a sense of the character of the lake. You will have to do more research at this time of the year to find answers to the following questions:

  • How much boat traffic is there on the lake?
  • What kinds of boats and water toys do people use on this lake?
  • Is there a party house in proximity to the cottage I would like to buy?
  • How gregarious are my would-be neighbours?
  • Do my potential neighbours enjoy noisy pursuits such as bombing around the lake on jet skis?
  • How much sunlight does the deck get in the summer?
  • Is the waterfront choked with algae and weeds in the summer?
  • What is the water temperature like in July and August?
  • What are water levels like in the summer?

The best way to answer these questions is to visit the property in the height of summer, preferably late in the afternoon on a Saturday when revelers begin to stir. But you don’t have this opportunity if you’re getting ready to table an offer in October. As many have shuttered their cottages and hauled in their docks, boats, and high-performance water toys, they have also removed the clues that help you form an idea of how they live at the cottage. There isn’t a stack of beer boxes stored against a cottage wall or a large grouping of chairs on the dock – a couple of the tell-tale signs the neighbours like to party. That’s why you need to be a tenacious researcher when you buy off-season. You have to ask more questions and look at lots of photos.

Perhaps your real estate representative can put you in touch with people who cottage in the same neck of the woods – they could help you answer these questions. Also, the seller will probably have photos to show you of the cottage in the summer. You could also contact the lake association or the road association that represents the cottage community. Although they may not be able to answer your questions directly, they could likely put you in touch with someone who can. There are other groups to consider – such as the Kawartha Lake Stewards Association; they may know of someone who monitors water quality in your prospective part of the lake. Remember, you aren’t just buying a cottage - you are buying into the lifestyle and recreational way of life of people with cottages in proximity. Nonetheless, savvy buyers who do their homework and are comfortable proceeding with an offer can negotiate a great deal.

Photo courtesy of Rick Harris No Alterations Made - Creative Commons

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