due diligence as there may be issues that are different from purchasing a recreational home on land. Many floating homes are located in a floating-home community, such as one found in a marina. Most of these communities already have water and sewage connections established. There may also be covered parking lots included with the price, or a garage nearby where you can park your vehicle.
You may also want to consider the unique maintenance costs for your floating home. In some areas you may find it difficult or expensive to find someone with the specialized skills for dealing with floating-home maintenance, while in other areas the marina will offer the services of experienced carpenters, electricians, plumbers, and so on.
Typically, each marina has its own separate contract, terms, conditions, and/or lease agreement for you to sign. Take the time to read the fine print carefully. There are many complicated issues that you should be aware of, such as what types of amenities are included, the cost of association fees, available moorage, etc. Equally important are site development standards, spacing, resident access, water supply, sewage disposal, solid waste collection and disposal, rodent and insect control, electrical power, and general safety. There may also be restrictions for the type of floating home allowed in the marina, such as height, design, dimensions, and internal layout.
If you are considering building your own floating home, there are architectural standards to take into account. For example, floating homes need to be both fireproof and unsinkable, and in many communities they cannot exceed three storeys in height. Professional help is required as floating homes are an engineering specialty. You may need to contact the local chapter of the National Association of Marine Surveyors (nams), or the Professional Engineers Association of your province. You may also want to read the Canada Marine Act for more information.
Condominiums
If you buy a condominium, you will be governed by that property’s bylaws and regulations. Before you buy, read the minutes of the condominium’s strata council meetings, and find out the rules and regulations that the strata council has established.
When purchasing a condominium, be aware that some areas, such as Whistler, BC, have “unrestricted” and “restricted” classifications for condominiums. An unrestricted unit, also known as a “Phase One” condo, is generally found in the small, lodge-type buildings in the village. There are no restrictions on owner usage, but an organized rental program is available for those times when the owner is not using the unit. An example of an organized rental program is one in which the developer, management company, strata corporation, or group of owners has hired a property management company to look after the rental of the entire condominium’s units, handling bookings, cleaning, maintenance, and so on.
A restricted unit is also known as a “Phase Two” condo. These are studio and one- and two-bedroom apartment condominiums incorporated into a resort hotel. The owner is restricted to occupying the unit for 28 days in the winter and 28 days in the summer. Benefits of buying a Phase Two condo include revenue from renting your allotted time in the unit, a potential tax shelter, and access to various hotel services and facilities during one’s stay. This type of unit is best suited for the occasional visitor to Whistler or for the investor only interested in revenue.
You should speak to a qualified agent in the area who can provide you with more details about these types of restrictions and uses.
Ski-in/Ski-out Condominiums
Ski-in/ski-out condominiums mean that you can literally ski in and ski out of the door of your property! It is important to find out whether the property you are purchasing is truly a ski-in/ski-out condominium. Although there are many properties advertised as “ski-in/ski-out,” a ski hill may still be quite a distance from the property.
Sometimes ski resorts have a central ski village where restaurants, pubs, and ski repair shops are located. It may be that the central ski village is located far from the property and that you need to drive to get to the village centre.
If you do purchase a true ski-in/ski-out property, it is a very good investment. If you choose to rent out your property, it is obviously very desirable for vacation skiers; and if you choose to sell, the resale value is very high.
Ski Chalets and Winter Cabins
When purchasing a ski chalet or winter cabin it is most likely that you will be purchasing in a developed area that offers a multitude of activities for the entire family, such as snowboarding, skating, skiing (downhill and cross-country), snowmobiling, ice fishing, and snowshoeing. Consider the location of the property. How close is it to these activities, the ski village, or the lake for ice fishing? How close are the amenities?
There are many “dream homes” in developed ski areas. Many winter cabins are state-of-the-art log cabins that are rainproof and durable as well as eco-friendly. Such winter cabins may also have skylight windows, fireplaces, hot tubs, and many other luxury features.
If you are purchasing in a ski resort, find out what types of security are available for the area, but more specifically for your property. This becomes more of an issue should you be away for extended periods of time. Keep in mind that many ski resort developments offer security patrol for the community. You may also want to ask your agent about road clearing services during heavy winter snowfalls.
Mobile Homes, Mobile-Home Parks, and Land-Lease Communities
Mobile homes, or “rvs,” can be broadly defined as portable residential units that can be transported by a towing device, used as a place to live while travelling or on vacation, but sometimes also as a permanent dwelling. A mobile-home park is a residential area that is composed of two or more mobile homes. A landlord provides the land as well as the services and facilities. A land-lease community is similar to a mobile-home park, except that the homes are more permanent structures.
Provincial tenancy acts (in Ontario it is called the Tenant Protection Act) cover landlord and tenant relations in a mobile-home park or land-lease community only if the tenant owns the dwelling in which he or she lives, and if the dwelling is used as the permanent residence of the occupant. In cases where the mobile home is not the permanent residence, disputes between landlords and tenants can be brought to an independent agency such as the Ontario Rental Housing Tribunal.
Real estate agents are increasingly involved with mobile and land-lease homes as a result of the aging Canadian population as well as pricing advantages that are associated with land leases. In mobile-home parks and land-lease communities, the landlord retains possession of the land, the facilities, and the services designed for the common use and enjoyment of the tenants.
Ask your agent for information regarding land leases if you are considering entering into such an agreement.
Hunting Cabins
Hunting and fishing are specialized sports, and if you are purchasing a hunting cabin for these purposes, there is a lot to find out about the property and all that it has to offer. Find out what type of wildlife and/or fish can be caught nearby. Different areas may have an assortment of wildlife, but may not have exactly the type of wildlife you prefer to hunt. Are there moose, bears, white-tailed deer, grouse, and/or turkey? What is the nearest body or bodies of water, and what kind of fishing is available?
Hunting cabins tend to be more rustic, and the normal comforts of home may or may not be included. Ask to see what exactly is included with the price, such as propane lights, propane tanks, gasoline generators, storage batteries, and so on. Some cabins may even include canoes, motorboats,
