Ballantyne cottages are havens for Ontario recreation and relaxation, and we’re proud to be part of so many big dreams for our clients. The dream of a family cottage becomes concrete when you purchase the land to build it. Because we have the honour of walking this path with so many clients, we’ve learned a fair amount about the process and pitfalls of buying land in Ontario, and we’re ready to pass on our tips to you.
Unless you know the lake exceptionally well, you should buy waterfront property in the summer when you can properly inspect the shoreline, the depth of the water, and the lake in general. Seasonal changes can be difficult to estimate without seeing them in person.
You should always use a real estate agent that lives and works in cottage country. There is a lot to consider when buying waterfront property. You need someone local who can guide you properly and knows what due diligence is necessary (e.g., zoning, building restrictions, water source, etc.). We highly recommend having your own agent instead of working with the listing agent because your agent will solely work in your best interest to ensure the land is right for you and the cottage you want to build.
When looking for lots, make sure it is a building lot. Do not assume you can build on any land that is listed. Much of the shoreline is protected by Muskoka Conservancy (and other conservation authorities), and some lots may be environmentally protected. Environmentally protected land may restrict what can be built or if a dock can be put in the water, which can affect the size of the cottage you want to build, or whether you can boat from your property.
There are several unique aspects of Ontario vacation property that you need to evaluate to identify the place to build your cottage. Determine your must-haves and deal breakers, and tell your real estate agent to narrow your search.
You can spend less on a property with limited access. Island property that is boat access only is cheaper than property accessed by a road, but living on an island isn’t for everyone, although some people love the relaxation a remote area provides. Some areas also lose road access in the winter unless you want to snowmobile in or pay to have the road plowed privately. If you’ve got to enjoy the winter wonderland of your cottage, a more central location is a better fit.
Waterfront property in Muskoka can range from $400K to $8 million, depending on the lake and accessibility. Expect to pay in the millions if you want road access all year round on one of the big three lakes (Muskoka, Rosseau, Joseph). Remote wilderness real estate in Ontario is priced very differently. Smaller lakes, farther from big cities like Toronto, or seasonally inaccessible properties (e.g., an island or remote cabin) run considerably less.
One crucial aspect of buying land in Ontario is that you cannot mortgage vacant land. You must purchase vacant land outright. Your budget may be the biggest determining factor in where you can buy waterfront property and how much. You may also choose to purchase land with an existing cottage and rebuild, which may skirt this financing requirement.
There are plenty of great reasons to buy a great lot with an undesirable cottage rather than a vacant lot, and much of it has to do with the budget. Here are a few reasons many clients choose to demolish and rebuild their cottage lot.
Many American or other foreign clients are drawn to Muskoka’s pristine and peaceful landscapes for their summer homes. Our mild and scenic summers are perfect backdrops for recreation and relaxation. If you’re considering making an international purchase for your Canadian summer home, we’re happy to share the nuggets we’ve gleaned while building cottages for our friends who make their permanent homes across our border.
Canada currently has a moratorium on foreign real-estate purchases (2023-2025.) This doesn’t mean your custom Canadian cottage is impossible, as there are exceptions in the law, and it is expected that vacant land and cottages will be exempt from the ban, but this may delay your plans. We’ll talk more about that when we connect.
Ballantyne Builds creates custom cottages in Ontario that become backdrops for adventures and memories for families far into the future. Our personal, transparent, and elite Ontario construction services have been honed over three generations. Let’s connect today to start the conversation about your cottage.