Tips for Selling a Recreational Investment Property

Selling a recreational investment property, such as a cottage or vacation home, requires a strategic approach to highlight its unique appeal, attract the right buyers, and achieve a favourable sale price.

1. Monitor Market Dynamics

• The market for recreational properties can be seasonal.
  • Factors such as time of year, economic conditions, and travel trends influence pricing.

Tip: Research these factors to determine the best time to list your property. Listing before or during peak season ensures your property is visible to the greatest number of potential buyers.

2. Highlight Unique Features

• Investors are drawn to properties with appealing features, such as:
  • Waterfront access
  • Ski-in/out access
  • Scenic views
  • Proximity to outdoor activities

Tip: Use high-quality photos and descriptive language to showcase these features in your marketing materials. Highlight the property’s appeal as both a getaway and an investment opportunity.

3. Price Competitively

• Strategic pricing is key to attracting buyers and achieving a favourable sale.
  • Consider factors like:
    • Recent sales of similar properties
    • The property’s condition
    • Unique amenities

Tip: Work with a real estate agent experienced in recreational property sales to set a competitive and realistic asking price.

4. Stage for Lifestyle Appeal

• Recreational properties should be staged to evoke comfort, relaxation, and fun.
  • Beyond decluttering and cleaning, create an inviting atmosphere that highlights the leisure lifestyle associated with the property.

Tip: Focus on outdoor areas with inviting seating and décor to maximize the appeal.

5. Prepare for Buyer Questions

• Be ready to answer questions unique to recreational properties, including:
  • Surroundings
  • Accessibility
  • Zoning and restrictions
  • Local amenities
  • Investment potential
  • Utilities and infrastructure
  • Maintenance
  • Environmental hazards

Tip: Prepare a comprehensive information packet with details on the property, local area, recreational uses, and homeowner association rules or rental regulations.

6. Highlight Investment Potential

• If the property has been used as a rental, emphasize the rental income potential to attract both investors and buyers who plan to use it personally.
  • Provide data on:
    • Past rental performance
    • Average rental rates
    • Occupancy rates
    • Local management services

Tip: Include details on amenities that make the property attractive to renters.

7. Simplify Viewings

• Recreational properties may be remote or difficult to access, so maintain good accessibility and flexibility with viewing times.

Tip: Offer virtual tours to give prospective buyers a detailed view of the property, as many buyers prefer seeing a video tour before making the trip.

8. Address Maintenance and Repairs

• Ensure the property is in good condition and address any maintenance issues before listing.
  • Buyers are wary of recreational properties that appear run down.

Tip: Highlight any work done to enhance the property’s appeal, as this helps justify your asking price.

Final Thoughts

Be flexible and well-prepared for the process of selling your recreational investment property. Careful planning, effective marketing, and addressing potential buyer concerns will increase the likelihood of a successful sale.