Do I fix that old cottage or do I let it die and build a new one?
When people think about older cottages they have a nostalgic memory or thoughts about an old wood cottage on the lake that has lots of character and maybe needs some small repairs.
In reality those cottages that are like that are in such bad shape when you start to look behind the walls, the roof and the foundation you find that they require major surgery by a professional and not by you the owner on the weekend.
The repairs of these kind of cottages usually take several years as the work gets spread out to save on money and to allow the homeowner to use the cottage in the warmer months. But at some point you the homeowner are going to have to ask yourself is all this time and money worth putting into an old cottage?
There is an alternative to spending large amounts of money and time fixing and repairing endlessly an old cottage that without a major investment is coming to the end of its life, you could tear it down and build yourself a new cottage.
Yes a new cottage, no its not your romantic vision of what a cottage is, but those romantic visions also don't have all the bugs, slugs and critters that are chewing their way into your cottage and watching you while you sleep. That vision doesn't have you cleaning up the mice poop or the having a plumber to come and repair the plumbing lines because they broke again or the septic is backed up again with tree roots. That vision doesn't have you placing buckets in new places every time it rains to catch the leaks or you squinting through old foggy windows to see the waterfront that you paid for.
If we are talking about if its worth it to build a new one because that costs money, let me tell you that right now newer homes on the water are rarely for sale and when they do come for sale the asking price is extremely expensive. People look at new cottages as something that they can buy and start enjoying right away and not having to think about fixing for years to come. That is worth it to a lot of people, people will pay a premium for something like that. In other words you will not lose money on building yourself a new cottage.
Remember that everything eventually comes to the end of its life and at a certain point you are going to have to decide when to let it go and build a new one. You can either spend the money now or wait until it's even more expensive later.
Rob Abbott
Great Lakes Custom Homes Inc.
