Bad news/Good news

[SlowPoke]

First the bad news.

Every year we attend a family Christmas get-together at my wife's Aunt & Uncle's cottage on Lake Simcoe. It's a 100 years old; more of a resort than a cottage and on a huge property. This year our get-together was held in Burlington because they were planning on doing a $400k reno and the shovels have already broken ground for geo-thermal heating.

 

So, that doesn't sound too bad.

 

We were gathered around for an announcment. They were approched by "Bernice"; a well known real estate agent in the area and were presented an offer to sell the place. The wheels are in motion but the deal hasn't finalized.

It will be sad to see it sell because it's one of my favourite places to be but at the same time I can understand the decision.

 

The good news.

They were presented with a very generous offer; well above value from my understanding and no selling fees.

 

Now the search is on. They will be looking for another cottage property and I have some of the criteria but location is the first step. If anyone has any leads, please bring them to my attention and I'll pass it on.

 

* Off the 400/11 corridor as far north to Honey Harbour or Lake Muskoka

* 150'+ lake frontage... NO SWAMPS. Sand preferred, rock is okay.

* At least 3' draft at the dock for the boats. Double boathouse preferred but sheltered bay with dock/lift is okay.

* Arts and Crafts design preferred but not essential. 4-7 bedrooms. Single level or main floor master.

* Sloped grade to water is okay, no cliffs/stairs.

* Good fishing and sailing with light boat traffic.

* Year round access with ammenities close by (15-20 minutes)

* No Islands

 

The obvious question is price range. They didn't really pin down a price but I think for the right place, 7 figures is not out of the question. For the right property, I think they would consider a reno but would prefer a move-in condition purchase.

[Garnet]

Lake of Bays would be my hands down pick. Lots of sand Baysville on 1 end Dorset on other and another town up 1 arm. Way nicer lake than Muskoka.

[misfish]

Lots of people around this area, have been "presented" lots of top dollars for thier property. Have a buddy that just landed 1.6 mil,for a three acre corner lot. Ah yea,he took it. Lucky bugger.

 

As for yer request Brian,look at lake Muskoka.

 

Man thats a shame they sold it off.

 

 

 

http://www.muskokalakes.net/

 

http://lakesofmuskoka.com/

[SlowPoke]

Lake of Bays would be my hands down pick. Lots of sand Baysville on 1 end Dorset on other and another town up 1 arm. Way nicer lake than Muskoka.

He mentioned Lake of Bays, she's not so fond of it. I don't know enough about the area to offer an opinion. If you have any more input, I'd like to hear it and pass it on.

 

 

Lots of people around this area, have been "presented" lots of top dollars for thier property. Have a buddy that just landed 1.6 mil,for a three acre corner lot. Ah yea,he took it. Lucky bugger.

 

As for yer request Brian,look at lake Muskoka.

 

Man thats a shame they sold it off.

 

They must have been playing the same lottery as your buddy.

It is a bummer but they'll fall in love with a new place, somewhere. They're not ruling out Simcoe and mentioned they would like to explore Shanty Bay on the north shore of K-Bay. Lake Muskoka is also a consideration. I know Lake Muskoka is a nice address but never spent any time there. Why would you recommend it?

Edited December 20, 2010 by SlowPoke

[Garnet]

Not much more, it's a big lake but no 1 area large enough to get really rough. You can go to Dorset by boat shop at grocery hardware store get a cone and stop at LCBO.

[misfish]

I know Lake Muskoka is a nice address but never spent any time there. Why would you recommend it?

 

Lots of tourneys on it.You can follow them around and find the good spots and maybe catch a big smallie.

 

I found it to be a very nice lake and lots of room out there.Nice scenery aswell in the fall. Gravenhurst is also very layed back.

[Harrison]

Another little gem is Otter Lake. West Muskoka's. One of my personal fav's.

[Handlebarz]

Dang Brian that sucks maybe they will find something on Cameron or another musky lake like LSC LOL.

[Gerritt]

Brian,

 

Check here. Alot of cottages offering what you are asking for..

 

 

http://www.icoverthewaterfront.ca/cottages.html

 

G

[SlowPoke]

Not much more, it's a big lake but no 1 area large enough to get really rough. You can go to Dorset by boat shop at grocery hardware store get a cone and stop at LCBO.

 

As I mentioned, this is where HE wants to go but SHE doesn't. Not sure why. Based on location, this might offer them as much seclusion as they're going to find so close to Toronto and for that reason alone, maybe she can be convinced. I've suggested not rushing into anything and renting some cottages on different lakes to get a feel for the surroundings. I'm betting she would like it.

 

 

Lots of tourneys on it.You can follow them around and find the good spots and maybe catch a big smallie.

 

I found it to be a very nice lake and lots of room out there.Nice scenery aswell in the fall. Gravenhurst is also very layed back.

 

Lots of tourneys will be a turn off for them but I like your thought process!

 

 

Another little gem is Otter Lake. West Muskoka's. One of my personal fav's.

 

Thanks, I'll look into it more. What is it you like so much about Otter Lake?

 

Dang Brian that sucks maybe they will find something on Cameron or another musky lake like LSC LOL.

 

Sadly, they won't venture over into the Kawartha side. Cameron would be ideal and I'm sure they would enjoy it. He did mention Gloucester Pool however!

 

Brian,

 

Check here. Alot of cottages offering what you are asking for..

 

 

http://www.icoverthewaterfront.ca/cottages.html

 

G

 

I don't think they'll want to do any shopping with Bernice. She's the one that's "taking my cottage away from me" as Frances said. LOL!!! She likened it to a hostile takeover. I reminded her that she is not only the CEO but an equal partner. If she didn't want to sell, she wouldn't have!

[Harrison]

I was going to PM you slowpoke, but if you can afford it.....it is a really nice lake. Small, intimate, great scenery and good fishing. I have property there, it's a nice lil cottagie fell place with-in reason.

[Dutch]

Your friends should keep in mind the sale of the current cottage will attract income taxes at capital gains rates.

 

The offer may be above what they think is market value, but really the market determines the sale price.

 

Maybe they should keep what they have?

 

Otherwise I would look at Stoney/Clear lake in the Kawarthas.

[SlowPoke]

I was going to PM you slowpoke, but if you can afford it.....it is a really nice lake. Small, intimate, great scenery and good fishing. I have property there, it's a nice lil cottagie fell place with-in reason.

I can't afford a map to the place let alone property! I'll pass on your comments; it sounds ideal.

 

 

Your friends should keep in mind the sale of the current cottage will attract income taxes at capital gains rates.

 

The offer may be above what they think is market value, but really the market determines the sale price.

 

Maybe they should keep what they have?

 

Otherwise I would look at Stoney/Clear lake in the Kawarthas.

 

They're covered tax-wise. He's a CPA and it's currently thier principle residence. The offer exceeds thier projected value after the planned reno. They'll be on the hook for some deposits but the dwelling has not underwent any work at this point. It's a once in a lifetime situation really. Thier neighbour's brother sold his farm to retire and wants THAT property at (almost) any cost.

 

Kawartha's are a no-go for them. They want to be along the 400/11 corridor.

[Raf]

If they are looking for quiet, low traffic lakes, Muskoka, Rosseau, Gloucester Pool are anything but during the summer months in my humble opinion. Of course, their definition of quiet may be different than mine.

[Harrison]

I mentioned Otter because it is cheaper then the other Muskoka lakes, or was when our family bought there. There are still good deals to be found there I believe. 7 figure mark you mention above would go further on this lake from what I know.

Good luck in your hunt.

Edited December 21, 2010 by Harrison