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Guides

Local questions that show up before a PEI offer firms up. Read the one that matches the property, not all of them.

• PEI real estate investment due diligence

  Start with use and budget. Then test the building, the land, the rules, and the resale before the conditions come off.

• Understanding the costs of owning a PEI cottage

  The mortgage is only one line. A cottage also carries tax, insurance, utilities, opening and closing the season, and repairs you will not see in July.

• Buying waterfront property in PEI

  Two waterfront properties on the same shore can have different risk. Look at the bank, the access, and the policy, not only the photograph.

• Questions to ask before buying vacant land

  The lot price is the start of the project. Septic, water, power, and permission to build are the rest of it.

• Wells, septic systems, and rural property

  Much of PEI outside municipal service is on a private well and a septic system. Both are the buyer’s problem after closing.

• Evaluating seasonal rental income

  Tourism supports summer demand. It does not fill a cottage from January to December. Put the empty months in the spreadsheet on purpose.

• Understanding property ownership costs

  Ownership cost is what the property consumes whether or not a guest is there. Keep it separate from debt so you can see the building on its own.

• Understanding PEI property transfer costs

  Budget the cash to close separately from the down payment. On Prince Edward Island that usually includes transfer tax, legal fees, and adjustments.

• Where on PEI the property sits

  The Island is small. The way a property earns its keep is not. A Charlottetown rental, a North Shore cottage, and a rural lot are three different purchases.

• How to evaluate a potential investment

  Do not judge a cottage, a waterfront house, and a city rental with the same spreadsheet. Use the same five headings, and change the assumptions under each one.