It is time to begin living your dream of a lakefront cottage in Canada. It is a dream that I share fully. However, it is tough to turn that dream into reality because of the high price of lakefront real estate, plus the costs and responsibilities of maintenance.
I have found an answer to that dilemma, and am looking for a few dedicated people to work with me. The answer is a group purchase of a resort property. For example, it is very feasible to find an extraordinary resort for sale in the $500,000 range. I can"™t afford to pay $500,000, but I can afford to pay $50,000 or more. Does this describe your situation?
By group ownership, I do NOT mean anything resembling a timeshare. Here is how it might work. We would look for a resort with very nice cottages that would sell for $150,000-plus apiece if they were on their own lakefront lot. Let"™s say the resort for sale has 10 housekeeping cottages. If 10 of us got together for the purchase, the cost for each would be $50,000 to purchase the resort. For $50,000, each of us would have sole ownership in a cabin, plus an undivided one-tenth interest in the land and resort facilities. A typical resort would have cabins, a lodge, perhaps a sauna, an icehouse, docks, boat storage facilities, fish cleaning facilities, picnic areas, several acres of land and perhaps a beach. It also probably would come with several boats and motors, which the purchasers could divide among themselves (perhaps one boat and motor would go with each cottage, with the rest remaining under group ownership for guests, breakdowns, etc.).
Group ownership is legal deeded ownership in the full sense of the word. Each share could be bought, sold, given away, or passed on as an inheritance. Each of us would be able to sell our share at any time, but none of us could be forced to sell (since it is not a club, association or corporation). In other words, the other members of the group would have no power to dictate anything you would do with your cabin or on the common land and facilities. Each of us would be free to visit as often as we wish, for as long as we wish, or even to make it your permanent residence. This could be a great opportunity for retirees or people nearing retirement. It also should be a good investment, as lakefront property in Canada is soaring.
My vision is a resort at the end of a dirt road, accessible by vehicle and to utilities, but at the edge of true wilderness. I envision a place of great natural beauty, with great fishing, boating and hunting opportunities. My plan would be to live there year-around. For you, that would mean that there would be someone onsite to look after things, provide security and do routine maintenance. It would be nice to be around compatible people who share your interests, too.
My email is eaglerockresources@csonline.net. Please feel free to contact me about this idea. I will respond to your email with complete information, so that you can check me out. I live near Oil City, PA, and am nearing retirement.
Canadian Lakefront Dream
