I came across a few books lately that I think might both be helpful additions to the cottage bookshelf, especially for new or newer owners of cottages, but actually they would probably be a welcome addition to any cottager’s books.
The first is The Cottage Ownership Guide: How to Buy, Sell, Rent, Share, Hand Down and Retire to Your Waterfront Getaway written by Douglas Hunter.
This book is a great resource for both owners and those considering cottage ownership. It’s loaded with lots of easy to understand tips to help you make the most of your investment, which is what a cottage is, even if we don’t always think of it that way.
This book will help you find and buy the perfect cottage, as well as sell it, (which of course you will never do) or hand it down to your children.
Here are a few of the things covered in The Cottage Ownership Guide:
How to choose the right lake or river
Finding the perfect property to match lifestyle
How to inspect a vacation property
Financing the purchase
Strategies for minimizing taxation in the U.S. and Canada
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.
This is only a partial list, there is quite a bit more, well worth the purchase of this book.
The Cottage Ownership Guide has recieved lots of positive reviews, besides mine, so don’t feel you have to take my word for it. You can read the reviews at the link.
The issue of handing a cottage down has come to the fore of late as one generation of cottager’s reaches the age when they realize that they might not be around forever, and want to ensure that the cottage remains in the family. Not always an easy task, especially with tax implications, and family feuds etc.
How do you decide who to leave the place to? Makes me happy I was an only child….it made the decision easy for my father and mother. I have three children to consider, so the decision for me might turn out to be more difficult, shared ownership is not an option in my mind. More about this in another post….
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