When to Start Thinking About Buying and Building a Cottage - Royal Homes When to Start Thinking About Buying and Building a Cottage - Royal Homes
My Favourites (0)
My Favourites (0)

Tips & Articles

When to Start Thinking About Buying and Building a Cottage

Some view cottages as something to aim for during their retirement years. It is often possible to realize such a dream well before then. However, there are some important things to consider before buying and building a cottage. Think about all of the following factors before making your decision.

When to Start Thinking About Buying and Building a Cottage


What are your current financial commitments? Do you already have a mortgage? Can you take on a second one? People in the market for a cottage are often at a stage in life where they no longer have a home mortgage or other major monthly expenses. They could also have a regular income that still allows such a step. If you are in such a position, a cottage is a very real possibility and this is a great time to think about taking the next step.

Market Conditions

What is the status of the real estate market? Have property values gone up recently and does the current market suggest prices will remain high? In cases such as these, you might want to wait a little while.

That said, you also still have the option of shopping around until you find a lot that suits both your wallet and your structural needs. Location remains the top priority. You can change your mind about the appearance of your cottage, but you cannot change the location once you have committed to it.

Know the Costs

It is important to know all of the costs that come with cottage ownership. In addition to taxes, insurance, and utilities, remember to factor in possible expenses you don’t have in the city, such as docking fees and ploughing costs. As you likely know from your current home, having a comprehensive budget always helps to ensure smooth sailing.

How Much Use Will the Cottage Have?

If you opt for a cottage unsuitable for use all year, you only really have it available for five to six months annually. Is this enough to justify the costs of operation, maintenance, and taxes? This is one drawback of buying an older structure from the days before winterization became common.

If your cottage is suitable for use throughout the year, you still need to consider this question. It would be better to rent out an empty cottage rather than let it sit unattended. That income is taxable, but there are some applicable write-offs and the money would help with other expenses.

Buy or Build?

You will need to buy land. However, you have a choice: do you wish to buy a lot that already comes with a cottage or do you wish to build your own?

An advantage to already having a pre-existing cottage is the ability to quickly rent it out to help with the costs of your mortgage and utilities. On the downside, older cottages often require a lot of maintenance. While some changes are possible, you are also stuck with a design that doesn’t necessarily match what you might prefer. Fixer uppers may seem like a great bargain at first, but they can also end up costing a great deal of money in the long run.

Royal Homes knows that cottages are an important investment and we are here to help our clients make the right choices. We have an entire line of cottage designs available to help you choose one that best suits your desires. Contact us today to learn more about how we can help to make your cottage dreams a reality.

Image: elenathewise

This house rocks. It's awesome. I'm excited. Thanks for all your assistance. The girls think it's great. Everything's just the way I imagined it. Wow!Stephanie
Email Us
  • FAQ

    Where can I get a price list or How come your website doesn’t show pricing?

    Prices vary geographically, depending on where you are building. With the amount of options available, price lists run into thousands of options. Prices change with the options you choose. The best way to get an idea on pricing would be to contact our Design Centre nearest to where you are building.

    Why should I buy from you over a conventional or "Stick-Builder"?

    The advantages of prefab include building in a climate controlled environment, using environmentally friendly products which reduces waste and a CSA monitored quality controlled program. There is less time start to finish, with less disruption to neighborhood. We also sell at a firm price.

    Do your homes include a foundation?

    Yes our homes include full foundation and basement.

    How long does it take to build a Royal Home?

    It takes less than two weeks to build a home in our factory, but the process from start to finish is very dependent on the timing of obtaining a building permit. For most of our clients the process from start to delivery is twelve to sixteen weeks with move in eight to twelve weeks thereafter.

    What size homes do you build?

    As a custom builder we can build any size home but generally the average size range is between 1300 and 3500 sq feet.

    Do you build garages?

    Yes. Garages are built on site after the home is delivered.

    Are the homes energy efficient?

    Building a prefab home in a factory assures the highest attention to sealing the building envelope and ensures that the cold stays out.

    Since your homes are so energy efficient and air tight, how do you get fresh air?

    All our homes have HRV heat recovery ventilator air exchanger to remove stale air, and introduce fresh air.

    Where can I put a prefab home?

    Anywhere in Ontario you like.

    Can I really customize my prefab home?

    Yes, we use state of the art custom design software, today no two homes are built alike.

    Do you finish the basement?

    Yes. We can customize your basement to the finishes you desire.

    Are Royal Homes built to code?

    All Royal Homes are individually designed to meet all provincial and municipal building codes for your specific lot location.

    Do you build stick-built or conventional homes as well?

    We are a custom home builder first and use prefabricated components wherever we can, because it is a better way to build. If you have a remote site or custom home design with large open spaces we would look at what makes most sense for that design and location. This could include prebuilt panels or partially site built specific rooms.

    What makes the building process environmentally friendly?

    Waste in the factory is separated and recycled, reducing the impact on landfills. This has less disruption in terms of noise and time at job site. Building prefab allows for higher energy efficient homes and reduced heating costs.

    How is your home delivered?

    Our home is delivered by way of custom designed hydraulic flatbed trailers and precisely craned onto the foundation.

    Can you make changes or custom design?

    Yes, clients are given preliminary plans to review and changes are welcome and easily accommodated.