Fractional Ownership for Lakefront Cottage

This is a news story, published by CityNews, that relates primarily to Chandler Point Corp news.

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CityNews

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Business

Business & Economics

Dreaming of a lakeside cottage but can't afford it? Co-ownership could open that door

Summary

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76% Informative

Co-ownership allows people to buy a share of a property with others, whether it’s family, friends or even strangers.

Affordability sits at the heart of fractionally owned cottages.

Many Canadians still find themselves priced out of the market, even as cottage prices have declined from peaks seen during the pandemic.

Buyers should look into who manages the property, financials and how much time you'll get to use the cottage and when.

Buyers also need to ask about who the other co-owners are, voting rights people get for their share and what happens when they want to sell their stake.

People really have to understand what they’re buying into, says Chandler Point Corp ..

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informal

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English

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