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Is Now a Good time to Buy a Cottage in Simcoe County?

Located just north of the GTA, Simcoe County is one of Ontario’s most scenic outdoor destinations. With countless kilometres of shoreline between both Lake Simcoe and Georgian Bay, year-round outdoor amenities, and the world’s largest freshwater beach, there are not many better places to buy a cottage than Simcoe County. 


If you’re interested in purchasing a cottage, buying during the fall season can help you be successful. As sellers look to offload their property before winter, buyers have a greater chance of finding a deal. Plus, as the market slows down, buying a cottage during the off-season can make the process feel more relaxed. 


If you enter the market this fall there are certain variables you’ll need to navigate as rising interest rates and other factors are sure to impact real estate in the coming months. Here’s everything you need to know about buying a cottage in Simcoe County this fall. 


Want to learn more about the historic and beautiful Simcoe County? Read our local guide to discover everything we love about the area. 

The Summer Market is Closing

The most popular time to buy a cottage property is often the summer months. As buyers dream about spending days at the lake before the fall, cottages can sell for top dollar during peak season. However, more often than not, there are several beautiful unsold properties still left on the market come September. This is particularly the case in 2022, as higher interest rates have cooled off the market. 


As the summer market closes, sellers may feel like their best opportunity to sell for a high price has passed. As a result, they’ll be even more motivated to negotiate with buyers. While the listing price may remain unchanged, it doesn’t hurt to make a low offer and see what happens. The more prime local properties that don’t move over the summer, the more likely sellers are to be flexible. 


With rising interest rates acquiring a loan for a vacation property may require special considerations. Learn more about the many options for mortgages on our blog. 


Don’t Stress the Season

Rather than purchasing a cottage and rushing to use it as much as possible before winter, buying in the fall gives you time to plan for the next season. You’ll be able to enjoy the anticipation and have time to nicely set up and prepare the property for spring. If there’s work that needs to be done or upgrades you wish to make, hiring local contractors can be faster and more affordable in the off-season. 

Market Uncertainties

Since the beginning of the year, rising interest rates have caused real estate to become more balanced. In these new market conditions, both buyers and sellers are taking a hit. Right now there is buyer uncertainty in the GTA and across Ontario. While property prices aren’t currently going up, new interest rates are still making things more expensive overall. 


As it’s been a long time since the GTA has seen these types of conditions, it is hard to predict where the market will head next. Interest rates could again increase, prices may go back up, or both. If you want to buy a cottage, the best way to avoid the risk of future market pitfalls is to begin the buying process today. 


Just like cottages, traditional real estate can also see seasonal shifts. Read these helpful blog posts before you navigate the market. 


Working With an Area Specialist

Just like a home, buying a cottage requires navigating a myriad of market variables. The best way to find a property that suits you is by working with a Realtor® who specializes in the area. Although it’s just 1.5 hours away from Toronto, real estate in Simcoe County is unique. Not only will an experienced Realtor® help you locate and assess cottages that match your specifications,  but their local market expertise can help you determine which properties are priced well and which ones don’t offer the best value. 


Looking for a Realtor® who can help you buy a cottage in Simcoe County? We can provide you with a smooth experience all the way through. Click here to send us an email. 
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