A property inspector comments on recreational properties and how to think about their purchase. Three rules to apply help focus the buyer’s critical thinking.
Busy summer with calls for help to check-out vacation properties! Obviously the perfect weather on the coast this summer lends itself to putting the best look on a recreational property. Here are the three rules to live by when viewing a recreational property:
- If there’s an older RV on the property, buy it for lot value.
- If nothing has been done to the septic system, budget for a new one and be prepared for ‘sticker shock’ as the rules and regulations have changed drastically in the last decade, in every jurisdiction.
- If it’s a ‘handyman built’ cottage or cabin and your first impression is negative, then you are most definitely not wrong and buy it for lot value.
I’ve looked at too many older cabins, cottages and RV’s set up on lots so as to be somewhat biased from my experience. Don’t forget that it will also cost you money to remove those old structures! However the good news is that when buying for lot value then you have all kinds of freedom to develop the site to your budget and vision. The trick is to see the potential of the site in spite of the existing structures.