Buyer’s Guide: How to Truly Know What You Need Before You Buy a Home or Cottage

Do you really know what you want in your next home or cottage? Many buyers start the search with a simple list: “3 bedrooms, 2 baths, nice yard.” But once they begin viewing properties, things get complicated—especially if there are multiple decision-makers involved (spouse, kids, parents, or even extended family).

The truth? The most successful (and stress-free) moves happen when buyers take time before house hunting to think through their must-haves, nice-to-haves, and deal-breakers.

Let’s break it down.

 

1️⃣  Do You Have a Home to Sell First?

Before you jump into buying, consider:

  • Do you currently own a home?

  • Do you need to sell it first before buying? Most sellers won’t accept an offer conditional on the sale of your home unless it’s at least listed.

  • Mortgage Penalties: If you have a mortgage, check with your lender to see if breaking or porting it comes with fees.

💡 Tip: Selling first puts you in a stronger buying position.

 

2️⃣  Lifestyle & Location Questions That Matter

Location isn’t just about the view—it’s about daily living. Ask yourself:

  • Do you need school bus routes nearby?

  • Are hospitals or senior care facilities important?

  • How far are you willing to drive for groceries, work, or hockey practice?

  • Can you handle winter in this location—or will snow removal and icy roads be too much?

  • Will you hire out lawn care and plowing, or do it yourself?

💡 If you’re buying in Muskoka, remember: rural living can mean longer drives, seasonal roads, and higher maintenance.

 

3️⃣  The Home Itself: Space, Layout & Comfort

Think beyond square footage. Ask:

  • Do you need few to no stairs for mobility?

  • Is a level lot a priority for you, or are you comfortable with steep driveways and hills?

  • How many bedrooms and bathrooms are essential (vs. just nice)?

  • Do you need a secondary suite for family, guests, or rental income?

  • Is privacy important, or do you prefer a friendly neighbourhood feel?

  • Do you need a fenced yard for kids or pets, or is adding one later fine?

  • How much storage is realistic for your lifestyle (boats, ATVs, seasonal décor)?

 

4️⃣  Budget, Financing & Insurance

Your financial picture will shape your options:

  • Pre-Approval: Have you spoken to a lender yet? This sets your realistic price range.

  • Turnkey vs. Project: Do you want a move-in-ready home, or are you open to renovations?

  • Renovation Costs: Do you know the ballpark for major items, such as a septic replacement ($30K+), a kitchen renovation ($20K+), roof repairs ($15K+), and shingling or foundation repair (which can be $30K+)?

  • Permits & Timelines: Are you prepared for approval processes that may take weeks or months?

  • Insurance Questions: Can you even insure the property? If it’s located on a river, in a flood zone, or has older electrical components, coverage could be challenging.

💡 The earlier you know the numbers, the fewer surprises later.

 

5️⃣  Long-Term Thinking: Timeline & Resale

Buying isn’t just about today—it’s about the years ahead. Ask yourself:

  • How long do you plan to live here?

  • If it’s only short-term, does buying make sense—or would renting be smarter?

  • Will this location hold good resale value?

  • Is the area growing, or could it be hard to sell later?

💡 In Muskoka, properties on lakes with year-round access tend to hold value better than seasonal or remote ones.

 

6️⃣  Family Voices: Aligning Priorities

When multiple people are involved, everyone has an opinion. To avoid conflict:

  • Have each family member fill out their own “Buyer’s Wishlist vs. Negotiables” checklist.

  • Compare lists side by side to find alignment and where compromise will be needed.

  • Remember: no home will check every box—but the right home will check the important ones.

 

7️⃣  Representation Matters

One of the biggest mistakes buyers make? Not having their own REALTOR®.

  • As a buyer, there is no cost for having your own agent—the seller pays the commission.

  • Your own agent is there to protect your best interests, not the seller’s.

  • Always use a local REALTOR® when buying or selling. Local knowledge matters—especially in Muskoka, where zoning, shorelines, septic rules, and seasonal roads can make or break a deal.

 

✅  Action Step: Fill Out Your Buyer’s Wishlist

To make your move smoother, I’ve created a Buyer’s Wishlist vs. Negotiables Questionnaire. 👉 (Click here to get your copy). Share it with your family, fill it out individually, then compare results—it will save time, stress, and disagreements down the road.

 

💬  Final Thought

Buying a home or cottage is one of life’s biggest decisions. But with clear priorities, a plan for financing, and the right representation, it doesn’t need to be overwhelming—it can actually be fun.

So, what’s on your must-have list? Drop a comment—We’d love to hear what buyers today value most in their dream home or cottage.

📍Be where you want to be.

👩🏻💼 Lisa Selvage | Muskoka Realtor® | Waterfront & Residential Specialist

👩🏻💼 Shirlene Johnston | Parry Sound Realtor® | Waterfront Specialist

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