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Eager to Buy a Cottage Investment Property in Manitoba

Lisa Adams Real Estate Buying

Have you been dreaming about a owning a cottage/cabin?  Most people have especially if you are from Manitoba, the province of 100,000 lakes, that’s right you heard me, 100,000 lakes. Look no further I am here to help. Whatever real estate myths you have heard about owning a second property, you only need 5% down, which is fantastic news.  You must pay the gross amount and you need to pay land transfer 1 time only fee. Enough about the boring stuff lets get into how to acquire a piece of paradise.

                             Top 5 List for Getting Started to Buy your Dream Cottage

  1. Know where you want to buy? Do your research about the area . Get acquainted with what the area has to offer.  If you are interested in the Clear Lake area you have Wasagaming that is right in Riding Mountain National Park. Onanole which is town on the outskirts of RMNP, Ditch Lake, town of Erickson and Minnedosa Beach. If you are interested in going further west this is  the Yellowhead Region which is Sandy Lake, Shoal Lake and Rossman Lake and everything in between. Like I said we have a ton of Lakes.
  2. Have your wish list but have reasonable expectations – nothing that money can’t fix . Water front is getting harder and harder to buy so you may need to buy something just for the location and maybe having to do reno’s …. I know it sounds painful but No Pain No Gain.
  3. Finding a Local Expert – Please, Please I can’t stress it enough to find someone who knows the area and has The Hustle.  Start building a good relationship with a realtor the loyalty will pay off in the long run.
  4. Building or Moving an Existing Building Please check with your RM for any information concerning the this process. There is also the regulations on holding tanks/septic fields, wells, or other sewer water systems. You may not be able to put on 2 residents on the same property. Each Rm have their own rules so please make a friend with  the local building inspector .
  5. Investigate the Lake  Is it spring fed, does it have good fishing, swimming or boating. Are there trails throughout the area for hiking, ski-dooing, and whatever other outdoor activities you enjoy doing.

12 Best Lakes in Manitoba | PlanetWare