tag:blogger.com,1999:blog-6510899576631908185.post4183156952315341089..comments2017-12-26T01:12:09.472-05:00Comments on A Canadian's Trading Diary: Cottage OwnershipWiser Miserhttp://www.blogger.com/profile/04232571512740681312noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6510899576631908185.post-51287789610382486812007-08-01T18:39:00.000-04:002007-08-01T18:39:00.000-04:00Thanks fourpillars.Yes, the book also covers part ...Thanks fourpillars.<BR/><BR/>Yes, the book also covers part ownership.<BR/><BR/>After reading the book and contemplating the idea of owning a cottage, I've come to the realization that it's not everything it's cracked up to be as you have to worry about additional maintenance, insurance, taxes, security costs amongst others plus heading to the cottage on the weekend leaves no time to get things done around the house.<BR/><BR/>That being said, it would be nice to acquire a piece of waterfront property when I'm closer to retirement and slowly build a nice little dream home to settle into.Wiser Miserhttps://www.blogger.com/profile/04232571512740681312noreply@blogger.comtag:blogger.com,1999:blog-6510899576631908185.post-72601950977190365972007-07-29T13:21:00.000-04:002007-07-29T13:21:00.000-04:00Very interesting post.My suggestion for any would-...Very interesting post.<BR/><BR/>My suggestion for any would-be cottage owners is to consider renting unless they have lots of time to use the cottage.<BR/>My parents own a cottage in northern Ontario and they pay about $7000/yr for it (no mortgage). They were teachers when they worked so they were able to use it a lot during their working years. Also - it was only a one hour drive from our house so it was pretty accessible for frequent visits.<BR/>If you work a normal job and only get 3-4 weeks of holiday and the potential cottage is several hours drive then you really have to ask yourself how much you will be using it and figure out if renting isn't a better option.<BR/>Another option which I'm sure is in the book is buy part ownership of a cottage. A friend of mine did this and it works great - it's run by some company and you buy 1/10 of the cottage and share all the expenses. This is also a good option for someone who is working full time.<BR/><BR/>MikeAnonymousnoreply@blogger.com