24 Apr Essential Tips for Buying a Cottage and Rental Property
Sick of paying crazy money to stay at Airbnb’s when you could own your own?!
Owning a cottage or rental property can be a rewarding investment, providing both personal enjoyment and potential income opportunities. However, navigating the process of purchasing such properties requires careful consideration and planning.
The majority of people believe that buying a home is unachievable, however most are unaware that it is possible to own a cottage with just a 5% down payment. Remember that a 10% down payment is still preferable to a 20% down payment if the property is an island or does not have year-round access. You could lease it out for the entire year, reserve it for your friends over the summer for two weeks, add Thanksgiving and Christmas to the rental, earn a good profit, and call it a day.
Here are some essential tips to keep in mind when buying a cottage or rental property:
