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 earn a favourable sale price. Your familiarity with the property’s appeal, amenities, maintenance and rental trends should be leveraged to position it effectively when selling.

Monitor Market Dynamics

The market for recreational properties can be seasonal. The time of year, economic conditions, and travel trends will influence pricing. Research these factors to determine the best time to list your property and set an appropriate price. Listing just before or during the peak season, when demand is highest, will ensure your property is visible to the greatest number of potential buyers. 

Highlight Unique Features

Investors will look for certain features that particularly appeal to renters, such as waterfront access, ski-in/out access, scenic views or proximity to outdoor activities. Emphasize these attributes in your marketing materials to attract potential buyers looking for a getaway property, an investment property or both. Use high-quality photos and descriptive language to effectively showcase the property’s best features.

Price Competitively

Strategic pricing helps you attract buyers and achieve a timely and favourable sale. Consider factors such as recent sales of similar properties, the property’s condition and any unique amenities it offers. A real estate agent experienced in selling recreational properties will be able to help you set a competitive and realistic asking price.

Stage for Lifestyle Appeal

Recreational properties have a distinctive appeal and should be staged accordingly. Beyond decluttering and cleaning, you need to create an inviting atmosphere that allows buyers to envision their leisure time spent there. Focus on comfort, relaxation and highlighting the potential for fun and activities. Put the spotlight on outdoor areas with inviting seating and décor.

Prepare for Buyer Questions

You will be asked questions that differ from ones you might expect from a traditional home buyer. Be prepared to give detailed information on:

• Surroundings
• Accessibility (road type/maintenance, seasonal closures)
• Zoning and restrictions on use
• Local amenities (distance to shops, trails, lakes or ski areas)
• Investment potential (rental rates, occupancy figures)
• Types of renters or typical target market for the area
• Utilities and infrastructure (water, septic/sewer, power and internet providers)
• Maintenance (average costs)
• Environmental hazards or concerns

A comprehensive information packet highlighting details about the property, the local area, recreational uses, and homeowner association rules or rental regulations will streamline this part of the process.

Highlight Investment Potential

If the property has been used as a rental, or has potential for rental income, highlight this to attract those who are strictly investors as well as those who plan to use it personally and rent it out. Provide data on past rental performance, average rental rates, occupancy rates and local management services. Include details on amenities that make it attractive to renters. 

Simplify Viewings

Recreational properties may be remote or difficult to access. Maintain good accessibility and be flexible with viewing times. Virtual tours give prospective buyers a detailed view of the property without the need for travel; many buyers will not visit a property without seeing a video tour first.

Address Maintenance and Repairs

Ensure the property is in good condition and address any maintenance issues before listing it for sale. Buyers are especially wary of recreational properties that seem run down, so a well-maintained property will be more attractive. Highlight any work to enhance the property’s appeal and justify your asking price.

Preparing for a Successful Sale

Above all, be flexible and well-prepared for the process.

Your close familiarity with the property’s history, seasonal draws and rental performance becomes a key asset when paired with an RLP InvestorsEdge™ expert. These agents have Masterclass Series training, backed by Playbook™, and access to advanced analytical tools to help you achieve maximum value with minimal hassle.