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The Cottage Ownership Guide: How to Buy, Sell, Rent, Share, Hand Down and Retire to Your Waterfront Getaway [Hardcover]

Douglas Hunter
5.0 out of 5 stars  See all reviews (2 customer reviews)

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Book Description

May 6 2006

How to find -- and finance -- the dream waterfront retreat

The demand for waterfront getaways has never been stronger. Whether as a first-time buyer or a long-time owner moving to a different stage of life, The Cottage Ownership Guide will help readers make the most of their investment. It's packed with solid, easy-to-understand advice that will smooth the financial aspects of ownership -- from finding and buying the perfect cottage to selling it or handing it down to the next generation. Hundreds of expert tips (and cautions), sample documents, and comprehensive checklists will help minimize unhappy surprises and maximize enjoyment of the cottage.

Author Douglas Hunter has done the homework, identifying potential problems and offering tried-and-true solutions:

  • How to choose the right lake or river
  • Finding the perfect property to match lifestyle
  • Acquiring the right real estate agent
  • How to inspect a vacation property
  • Cottage surveys
  • Financing the purchase
  • Co-ownership arrangements, including fractional ownership and time shares
  • Strategies for minimizing taxation in the U.S. and Canada
  • Trouble-free rentals
  • Boosting market appeal when trading up or selling
  • How to structure a cottage inheritance to reduce taxes -- and family disputes
  • Retiring or relocating full time to the cottage.


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Product Description

Review

This book provides a good dash of practical information to balance the emotional appeal of falling in love with cottage life.

Valuable for everyone fasced with the problem of owning a second home. [Hunter] covers the basics of those things you can do yourself...to those you should seek professional help with... A good how-to book provides answers to problems you haven't even thought of, and [The Cottage Ownership Guide does] exactly that. (Linda Turk Chronicle-Journal (Thunder Bay) 2008)

This one-of-a-kind book reveals virtually everything a vacation cottage buyer needs to know before making a purchase offer. It is a well-designed that is easy reading.... On my scale of one to 10, this outstanding book rates a solid 10. (Robert Bruss Florida Today 2007)

The author's goal is simple -- to help the reader ask the right questions and to help balance the emotional appeal with solid information... comprehensive... It is clear that a great deal of research has gone into this publication. (Judith Ruan Muskoka Magazine 2006)

While the tips and advice in this guide are simple enough for a first-time buyer to understand, Hunter brings up questions and issues that even a veteran cottage owner should mull over. (Janine E. Kusza Physician's Money Digest 2006)

This book will help you make the most of your investment...A must-have for cottage owners or potential cottage owners.

An easy-to-read textbook with case studies, sidebar tips and bulleted lists... Hunter examines the checklists lakefront buyers should consider when purchasing a cottage. (Cathy McNally The Muskokan 2006)

The conversational style of the book offers practical advice with a sense of humor while still offering information based on extensive research.

Falling in love with a property can lead to impulse buying. Consider [t]his book a look-before-you-leap guide. (Lisa Doll Bruno Melville Newsday 2006)

This book is a must-have for cottage owners or anyone who dreams of buying a cottage. The basic buying tips are helpful, but the best part of this book is that it addresses a key question for baby boomers: Is retirement at the cottage really possible? ... Add this to your fall cottage book list. If you've ever wanted to own a waterfront cottage, here's your chance to do it right... A 'must' for any homeowner who dreams of owning a cottage get-away. Expert tips, sample documents and comprehensive checklists... help make [the] dream a reality.

About the Author

Douglas Hunter has written widely on business, sports, and outdoor pursuits for publications ranging from Cottage Life magazine to The Globe and Mail. He is the author of thirteen books, including The Bubble and the Bear: How Nortel Burst the Canadian Dream, which won the National Business Book Award. Hunter lives on Georgian Bay near Port McNicoll in the heart of Ontario's cottage country.


Inside This Book (Learn More)
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Vacation homes have been with us for as long as humankind has needed a vacation. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Most helpful customer reviews
5.0 out of 5 stars brand new April 7 2013
By Linds
Format:Paperback|Amazon Verified Purchase
good, even though written for American owners - translatable into Canadian estate law, I believe - good tips and lots of information
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5.0 out of 5 stars Great purchase !!! Jun 20 2012
By emg
Format:Hardcover|Amazon Verified Purchase
This is a very thorough book on the subject with many great ideas and examples. It has been very helpful !!!
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Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com: 4.0 out of 5 stars  4 reviews
1 of 1 people found the following review helpful
5.0 out of 5 stars Great Reference Nov 19 2007
By Rabid Reader - Published on Amazon.com
Format:Hardcover|Amazon Verified Purchase
If you own a summer cottage in Canada, you should probably have this book on the shelf. If you are Canadian, it is a great resource. If you are American, it may be slightly less helpful, but still very, very valuable.
It's put out by the Cottage Life people, and nobody knows cottages better. I've gotten some excellent tips from this book & given it as a gift to another cottager. (My first copy was a gift from another cottager to me!)
4.0 out of 5 stars A Very Good Book, But No Mention of Beach Cottages April 9 2013
By Darkseas - Published on Amazon.com
Format:Paperback
This review is based on the 2006 hardcover edition. I'm not sure what changes, if any, are in the 2009 paperback edition sold here.

I found this book fascinating, as I knew almost nothing about the cottages Mr. Hunter is writing about. Beach houses in much of the United States are also called cottages, and that's what I was looking for in the book. There's nothing about cottages at the beach, so the book was only helpful to me in a general way.

As another reviewer states, there's a lot about buying and selling lake and river cottages. Some of this isn't very different than buying a regular house, but there is a lot that's specific to vacation homes, particularly ones that are off the beaten path. You can extrapolate from this to remote beach cottages as well. If your beach is on the beaten path, the material is interesting, but not very helpful.

While there is a chapter on renting your cottage, the author mostly assumes that you'll use the cottage yourself. While the renting information is a good general overview, it could really use a lot more detail. For example, there is less than a page on taxes and rental properties in the U.S. If you're staring Schedule E in the face, this book won't help much.

The material in the 2006 edition, and probably in the 2009 edition, could use some updating. For example, when talking about buying the cottage, the author suggests drawing circles on a map to check distances as the crow flies, and then trying to figure out the actual driving distance and time by measuring the roads on a map and then actually driving that. A sidebar tip suggests you look at Mapquest to get the actual distance and an approximate travel time. Of course now most map programs follow Google maps and will give you an actual travel time taking current traffic into account. No need to do all the work on an actual map.

But give the author credit -- you rarely see a discussion on travel time to your vacation home, and it will make a difference, particularly if you're traveling with children or pets. There are a number of topics throughout the book that I haven't seen discussed elsewhere or done as well -- for example whether your adult children will want to use the cottage with or without you as much as you might think.

Overall, this book was very useful to me. I've read most of what's available on vacation homes, and I don't know of anything out there that I prefer to this book. I hope the author will update it and consider adding a discussion of beach properties also. They fit pretty well with the points he is trying to make. Until then, this book is certainly worth your time.
1 of 2 people found the following review helpful
2.0 out of 5 stars Not that good! Feb 15 2008
By E. Vincent - Published on Amazon.com
Format:Hardcover
Most of the book was about how to buy a cottage which is similar to buying a house: Use a good lawyer,get a loan or mortgage, etc. This book would be useful for someone who has not purchased a house before. I wish I could get a refund!
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