www.iFourWinns.com

My wife and I are at a point where we are ready make a move and purchase our first waterfront cottage on an all-sports inland lake. I am hoping for a little insight from anyone on here who owns or have owned a cottage. The only problem we are having is trying to choose between two great choices. We have been going back and forth and still can't make up our mind on which one to purchase. The main difference between the two places is that one is more of a year round place and has more things to do(snowmobiling, four-wheeling and things of that nature), but is priced 30K higher then the one that is mainly a summer place. We are leaning more towards the cheaper one, but with two girls ages 4 & 8, we are worried about what to do when weather isn't ideal enough to be on the water boating or jet-skiing. So for those cottage owners, what else do you do to occupy your time and what general advice do you have for someone purchasing a cottage?

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Current Boat:
2005 Horizon 190

Previous Boat:
1999 Sundowner 225

We had some of the same questions/concerns you guys are having. With a 10 year old and 3 year old, we were worried about what they would do during cool or rainy weather. We actually moved in during the winter and still went almost every weekend. We all enjoy lake side fires and rainy days under the porch. We turn off all the iPods,iPads and other electronics and play board games, color, read etc. It's amazing to us that they do that and love it.

Check to make sure you are not in a flood zone and if you are, FLOOD INSURANCE!!! Not sure of your financial situation but get ready to be put under the microscope by the mortgage company. Apparently, on a second home in this financial climate, this is common and very frustrating. We are in a development and had differing information on HOA dues and what they covered.

In my opinion, your paying a lot of money for something, don't limit yourself. At the same time, second homes come with a bunch of "unadvertised" expenses. Go for the one you love and can comfortably afford without thinking about the cost the whole time your there. You will be surprised that what you spend your time doing might be different than your original thoughts.

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Askieffer
2009 SL242

225,
Not sure what you consider a "cottage", how many sq.ft.?? Down here we call them lake-houses. Having been the owner of two said waterfront homes, I personally would not do it again as a second-home. We would leave for the lake on Friday after work, then all I would do was work all weekend..................Something always needed attention. I found it a drag after doing it with two different lake-houses for about 15years. Was it enjoyable?? Of course it was, but I don't miss it really.
I can load-up and be at the lake in 40mins., and I've got only one yard to cut.... ...not two.......On the other side. They were great investments, made some great profit off both tho.
Our next lake-home purchase will be our retirement-home, full time, be about 10 more years, but it will happen!!!!

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Jimbo
Na. Ga.

2000 170 Horizon LS
4.3GL

Good info. Thanks.

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Current Boat:
2005 Horizon 190

Previous Boat:
1999 Sundowner 225

We just bought a condo last year that is very close to our marina. We had thought about a small house but decided on the condo for the reasons of no outside maintenance. We used it last winter, our kids 8 and 5 went snow skiing for the first time. We loved having a place to get away all year long. One great thing about it is we lock the door and if we don't get back for two months then there is nothing to worry about. Of course there are condo association fees but it is a small complex with no pool so fees are minimal.

We are considering it as a retirement investment, wether we retire here or move up to a larger place, with the real estate market down it was the right time to buy.

This may not apply if there aren't condos available but is another point to consider.

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Terry
Current: 07 Crownline 255 CCR cuddy - 350 Mag MPI/B3 "Casi Cielo"

Previous:97 245 Sundowner 5.7GI/SX

Tow vehicle: 1986 GMC 2500 Camper Special 454/TH400

Both places are definitely "cottages" seeing how they are both under 1000 sq ft. Both places are move-in condition and lawn mowing would be 1/2 hour max. The investment side is another reason we are looking to make a purchase sooner than later with rates low and prices a good 25% less than a few years ago.

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Current Boat:
2005 Horizon 190

Previous Boat:
1999 Sundowner 225

Ok that sounds reasonable. At the first place I would spend at least 3 hours mowing and weed-eating alone. The second was almost the same amount of time.
Now is the time to buy, no doubt.

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Jimbo
Na. Ga.

2000 170 Horizon LS
4.3GL

Check into homeowners insurance first if it's really close to the water. Because of theoretical hurricane risk, we here in Long Island have a hard time getting homeowners insurance because we live about 300 feet from the water, but are elevated to the point that we would never have a flood (barring another ice age)!
We had to go with a company that specializes with costal properties and it cost quite a bit more. But, a year round water view of the local harbor and Long Island Sound, and having the boat right out back is worth it.

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88 Four Winns 200 Horizon
4.3 OMC Cobra-4bbl
2002 Walker Bay 10/2012 Suzuki 2.5
2008 Walker Bay 8

1998 Jeep Grand Cherokee 4.0/Selectrac
2007 Jeep Grand Cherokee 5.7 Hemi/Quadradrive II

Care to share the location on either? I'd look for the year round use, but it really depends on where it is for good or bad snowmobiling.

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2001 Horizon 260 - 7.4 Volvo GSI DP

Well we pulled the trigger this weekend and put in an offer on the cheaper cottage and it was accepted by the seller. It is located near Fountain. The other one we passed on is near Baldwin. One thing I forgot to mention earlier is that the cottage we passed on(the more expensive one)
wasn't direct frontage, but association frontage with a view of the water.

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Current Boat:
2005 Horizon 190

Previous Boat:
1999 Sundowner 225

Great area. I have a place on Nichols Lake in northern Newaygo County. You'll love the Fountain/Baldwin area. Lots to do and the snowmobiling is great in the winter. What lake are you on/near? I have a cousin on Ford Lake in that area.

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2001 Horizon 260 - 7.4 Volvo GSI DP

After we do some expansion on the house we're going to look for some waterfront on the Chesapeake. Somewhere south of Annapolis probably.

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-Bill Kearney, 2005 348 Vista

The place we are getting is just down the road a few miles from Ford Lake on Gun Lake. We looked at some vacant property to possibly build on Ford Lake, but decided it would be to tough a task to manage from 80 miles away.

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Current Boat:
2005 Horizon 190

Previous Boat:
1999 Sundowner 225

Pics and more pics. Great time to buy and hope you got a great deal.

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Current Boat: 2000 Four Winns 298 Vista
Previous Boat: 2000 Carver 406MY