Should You Renovate Your Cottage or Sell As Is?

Should You Renovate Your Cottage or Sell As Is?

Recently on our blog, we covered strategic renovations that can improve your Toronto home sale. While cottages share many similarities with homes, there are several key distinctions pertaining to real estate. 

Where to Start When Selling Your Cottage 

Like selling a home, selling your cottage requires working with an experienced Realtor®. That being said, not all real estate professionals will have the same knowledge of cottages and the specialized markets they're bought and sold in. Therefore, you'll want to be diligent in finding the best possible professional for your sale.

From a real estate perspective, cottages in Ontario are highly unique. Not only do cottage properties differ greatly from traditional homes, but the market trends they follow can change at a hyper-local level based on the region or municipality.

In order to maximize your chances of a successful sale, you will want to work with a Realtor® who has tangible experience selling cottages in your area. 

Cottage Evaluations at a Glance

Determining whether or not your cottage may benefit from pre-market renovations begins with an in-depth evaluation of the property. 

During the evaluation stage, your Realtor® will consider the cottage itself, the surrounding property, and up-to-date buyer trends in the area. They’ll also factor in any laws or regulations that could restrict your ability to make modifications to the property. 

For instance, riparian rights, which determine a cottage owner’s ability to make additions or changes to the waterfront - such as building a dock, can vary dramatically depending on local laws. If you install an illegal dock thinking it will attract higher offers from buyers, you could waste upfront capital and even find yourself in hot water. 

Want to know what your cottage or vacation home is worth in today’s market? You can receive an in-depth market valuation for your cottage at the click of a mouse. Visit our home evaluations page to find out how

Looking to sell your current cottage and buy a larger or newer one? Check out these blog posts. 

When Renovate or Upgrade Your Cottage 

When it comes to purchasing a cottage, most potential buyers are thinking about next season. In their mind, they are already making plans to host friends, get out on the lake, and simply enjoy their private oasis. 

With this in mind, today's buyers are looking for a property that can meet their needs right away. And, for a number of buyers, this comes down to the size and age of the property. If your cottage is relatively new, has ample square footage, and can compete with other turn-key properties on the market, it could be worth making some strategic upgrades before selling.

Your Realtor® can help you determine the best path forward. If it will be worthwhile to make a few upgrades to the property, they can connect you to trusted local contractors to ensure the process goes smoothly. 

When to Sell Your Cottage As Is

Once again, determining which pre-listing renovations could help you sell your cottage for more money comes down to what buyers are looking for. In some cases, buyers will purchase smaller properties with the intention of tearing them down and building a bigger cottage in their place. 

For example, if your cottage is a modest-sized bungalow sitting on a spacious lot, there’s a strong chance that buyers will be interested in purchasing the property and tearing it down. If the most attractive element of your cottage is the land around it, making renovations before you sell could be an unnecessary use of your time and money. 

Key Takeaways

At the end of the day, every cottage is unique. Across Ontario, real estate trends pertaining to cottage properties can change at a hyper-local level. Like any property sale, it’s important to work with a knowledgeable expert who will help you achieve the best possible results. In this case, a Realtor® with specific experience selling vacation properties like cottages. 

Your Realtor® will perform an in-depth evaluation of your property to determine the most optimal path toward a profitable sale. Once your cottage is listed on the market, they’ll ensure you attract high-quality offers from distinguished buyers. When you begin receiving offers on your cottage, their unique negotiation skills will help you close on a top-dollar offer. 

Want to sell your cottage for top dollar on the market? As Realtors® with decades of experience working in Simcoe County, the GTA, and other cottage communities across the province, we can help! Give us a call at 416-985-1486 today!


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