Many lake property buyers begin thinking about owning a place on a lake after visiting a friend or family member’s lake property. It was probably great weather, lots of fun on the water, and an overall wonderful time. You spent quality time as a couple, or the family enjoyed being able to play,and have fun together. It was truly a getaway, and soon you were dreaming about your own place on the lake.

Should you jump in and move to the lake year-round, or buy a seasonal camp or cottage? There are benefits and drawbacks to both lake homes and lake camps or cottages; let’s examine the pros and cons:

Lake Homes: PROS

• As a rule it costs less to own just one property.  Typically it will cost more to actually live on the lake full-time, because you will need extra space and amenities you might not need in a camp.
• It’s easier to keep up a single property.
• You are always there, so there’s no need to drive to the lake property on weekends saving gas and time.
• Since you’re at the lake property all the time, you’ll have a built-in neighborhood of people around the lake who you may become friends. Many lakeshore property owners like the idea of getting to know others on the same lake.
• You don’t need to tote tools, supplies, and boats back and forth, and you don’t need to have two sets of everything.
• You’ll have a lot of company!

Lake Homes: CONS

• You might not feel like you’re really getting away.  At home there are always day-to-day chores that don’t really go away just because it is the weekend. Going to the cottage can be a getaway from this routine.
• You might have neighbors on the lake who use their lake property as camps. When they are there for the weekend – with their friends – they want to have a good time.  Lake living, especially on the weekend in the summer,  may not be as quiet as living off the water.
• There maybe times when you will want to go to another lake – or just somewhere else – but you’ll feel a bit tied to this lake place.
• Besides the regular chores that go with owning a home, you will have the extra maintenance of the shoreline, dock, and other items staring you in the face every day… where at the cabin you only see them when you get there.
• You’ll have a lot of company!

Lake Camps, Cabins or Cottages: PROS

• You are away from it all… the whole time you’re there.
• It probably feels more like being on vacation than it would being at your lake home.
• Many of your neighbors are also there for a limited time, so they will tend to be more upbeat and relaxed.
• When company visits, they’re more inclined to help out with food and supplies, along with pitching in on chores and clean-up than they would at your home.
• Most people can get by with a little less when they’re at camp, so you won’t have to worry as much about putting all the finishing touches on the place, or making sure everything is super tidy.  Lake cottages are meant to offer a break from all those chores so that you can enjoy the lake… and fishing, reading, conversation, and recreational activities…without having to feel like the chores are hanging over your head.
• If you like working on projects, you can be a little more relaxed and creative at camp.
• Often you can buy a cabin within your budget and on a higher quality lake, than you would be able to afford to live full-time on.
• Camps, cottages and cabins offer a unique atmosphere for bonding of family and friends.  The world slows down a little when you are at the cabin, and relationships become easier.  It is hard to place a value on this benefit!

Lake Camps, Cabins or Cottages: CONS

• Distance from home can be a negative, so make sure you don’t get further away than you can comfortably travel.  For people with more flexible schedules, they can sometimes find a bit better deals by going an extra hour from home.
• Finding contractors and others to help keep up your cottage can be difficult since you have to find them while you’re there. You also have to be a bit more trusting that these people will get the jobs done right, since you can’t always be watching over them.
• Maintenance issues such as leaky roofs and bad furnaces can happen when you’re not there, so it is good to have someone you trust check on the camp occasionally.
• Added costs(heat, electric, taxes, maintenance, etc.). But lake property also can be a good investment for the future, overshadowing the negatives.
• You might want to travel to other places; having a lake property might cause you to think twice about travelling.  People go through different phases in their lives, depending on a variety of factors such as: children’s ages. grandchildren; their health; relationships with friends and family; and wanderlust.  Be sure it is the right time in your life to have a lake camp before you buy one.

One last note:

Know what exactly you’re looking for; it makes it easier to know when the right place is available, and will prevent buying into a lake property, house or camp that isn’t really the dream that you thought it would be. We made a list of everything that we wanted, and probably scored about 95% of what we wanted, even though it took almost two years.

These items should help you think about what is important to you when it comes to choosing between a lake home or a lake cottage.  We chose to move to our lake house full-time for the reasons listed above.