Most of us have some knowledge and/or experience in real estate prior to considering a recreational property. And therefore, some previous experience working with a Realtor to buy or sell a property. One of the things that we have learned over the years, is that it is imperative that you find a knowledgable real estate professional when it comes to buying or selling your recreational property.
The Parry Sound district is a very diverse and dynamic area in Ontario and offers exceptional opportunities for cottage and recreational ownership. There are however, many nuances to buying in cottage country which a professional Realtor from the area will know. For example, when buying a piece of property, are you purchasing the property right down to and including the waterfront, or is there a shore road allowance owned by the township? If you are buying a property that has a shared driveway, is there deeded access or have the current owners been using the driveway, based on a handshake agreement made during the 1970’s? Or perhaps, you are selling your property and other properties on your lake have sold for various prices; so where does your property value sit? Can your property value be based on your current MPAC assessment or not? You are considering selling your property and know that some improvements need to be made; what are the improvements that will be the most valuable in the case of listing your property? So many things to consider! Working with a Realtor who knows the area and is able to work with you to realize your needs and wants is key!
Be sure to ask your Realtor some important questions such as:
- How long have you worked in the area?
- What is your professional background?
- What does your support team look like?
- How many listings/sales have you had in this area?
- What makes you the ideal person for the job?
- What is your commission rate?