Yearly cost of owning a cottage

Add up the real yearly cost of a cottage: mortgage, property tax, insurance, hydro, heat, internet, maintenance, docks and travel, in one plain total.

Your numbers

Every starting number is an example. Swap in your own.

Owning this cottage$56,356 / year

Without the mortgage, the running costs come to about $1,458 a month. Plan for that even in the years you barely get up there.

$4,696 a month

  • Mortgage$38,856
  • Property tax$4,000
  • Dock and repairs$3,000
  • Insurance$2,500
  • Heat and propane$2,000
  • Gas and travel$2,000
  • Hydro$1,800
  • Internet$900
  • Snow and road fees$800
  • Water and septic upkeep$500
Change the numbers
$
Per month. Try the mortgage calculator for yours.
$
Per year. The listing shows last year’s tax.
$
Per year. Wood heat and distance to a fire hall move this a lot.
$
Per year. Example.
$
Per year. Example.
$
Per year. Example.
$
Per year. Pump-outs, water tests, filters.
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Per year. Private road associations and plowing.
$
Per year. Docks, roofs and the surprises.
$
Per year. Gas, highway tolls, ferry or marina fees.
Mortgage, per year$38,856
Everything else, per year$17,500
Total, per year$56,356

Estimate only. Starting numbers are examples, not quotes. Costs vary a lot by lake, access and how old the place is.

Go over my cottage budget

How this works

The mortgage is only part of it. This calculator adds property tax, insurance, hydro, heat, internet, septic and water upkeep, road fees, the dock and the drive.

The bars show where the money goes. Every starting number is an example, so put in quotes from the listing and your insurer.

A worked example

With a $3,238 monthly mortgage and example costs for tax, insurance, hydro, heat, internet, septic, road, dock and travel, the cottage costs about $56,356 a year, or $4,696 a month. Without the mortgage it is $17,500 a year.

What the numbers assume

  • Every amount except the mortgage is yearly. The mortgage is monthly.
  • Starting amounts are examples, not averages or quotes.
  • Insurance moves with wood heat, distance to a fire hall and water-only access.
  • Does not include the down payment, closing costs or big one-time projects.

Common questions

How much does it cost to own a cottage each year?
Beyond the mortgage, property tax, insurance, hydro, heat and upkeep add up quickly. Run your own numbers here, then add a reserve for the dock, roof and septic.
Why is cottage insurance more than house insurance?
Distance to a fire hall, volunteer fire departments, wood stoves and water-only access all raise the price. Insurers usually want a WETT inspection on a wood stove.
What surprise costs come with a cottage?
Septic pumping or replacement, dock repairs after ice, road association fees, and freeze damage on a seasonal place.
Can rental income cover the cost?
Sometimes part of it. Try the rental income calculator with your weeks and rate.

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