If you’re hesitant to buy a cottage due to concerns about upkeep, it’s essential to weigh your options between a newly built cottage and an existing one. Here’s some valuable information to help you make an informed decision.
Newly Built Cottages Need Less Upfront Maintenance
If your budget allows, a newly built cottage might alleviate your worries about maintenance costs. An existing cottage may require immediate repairs and upgrades.
Many builders offer Tarion warranties on new cottages that cover significant expenses, providing further peace of mind. The Tarion warranty protects new home buyers in Ontario by ensuring that builders adhere to the warranty coverage mandated by law. It’s primarily managed by the builder, who must register with Tarion. Coverage includes construction defects, protection against unauthorized substitutions, delayed closing warranty, and deposit protection. It does not cover personal items, minor cosmetic issues, or damages caused by the owner. Not every home is covered; only those built by registered builders are eligible.
Existing Cottages Can Still Have Great Perks
Buyers often seek assurances and protections to safeguard their investment when purchasing property, especially a cozy retreat like a cottage. While many might assume that only newly constructed properties come with warranties, it’s lesser known that some existing cottages can offer great perks with a TARION Warranty in Ontario. Not every home is covered; only those built by registered builders are eligible. The warranty is transferable to new owners. Homeowners should register their agreement with Tarion to ensure coverage and understand their rights and responsibilities under the warranty. For more details, you can visit the Tarion website.
Should You Buy New or Existing?
While less upfront maintenance is a significant advantage of new construction, existing cottages offer unique benefits that new builds can’t always match:
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Character and Charm: Existing cottages often have distinctive character and charm that are difficult to replicate in new builds. The quirks and features of older homes can make them feel more homely and inviting.
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Established Landscaping: Older cottages usually have more mature landscaping and a well-established sense of community. It can make the surroundings feel more inviting and complete, unlike the often barren look of new construction.
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Immediate Availability: Unlike new constructions, which may require you to wait for completion, existing cottages are typically move-in ready. It means you can start enjoying your new retreat without delay.
Ultimately, the decision comes down to what’s most important to you. A new build might be the way to go if you prioritize less maintenance and modern amenities. However, if charm, character, and established surroundings are higher on your list, an existing cottage could be the perfect fit.
Bottom Line
Whether you choose a newly built or an existing cottage, you can ease your concerns about maintenance with a cottage warranty. To weigh your options and determine your top priorities, contact us today. We’ll help you navigate the process and make the best choice for your cottage dreams. By working together, we can ensure that your investment provides you with the comfort and enjoyment you seek while also aligning with your maintenance expectations.
