The rapid growth of fractional ownership in Ontario and other areas of Canada has become a new trend in the way people are purchasing cottages.  Why pay hundreds of thousands of dollars for a cottage on Lake Nosbonsing when you can own one for less than $100,000 and as little as $50,000 and have all the same experiences and enjoyment as anyone else. 

Happy Holiday Cabins on Lake Nosbonsing is structured to make the transition to fractional ownership very simple.  The layout of the cottages allows everyone to have their own frontage and dock on the lake without having to share common lake frontage with anyone else.  The volleyball area, horshoe pits, shower house and fish cleaning shack can be shared equally among all the cottage owners without interfering with the privacy of the cottages.

These factors make it possible to offer fractional ownership at a fraction of the cost of other projects. The lower price opens this fractional ownership option to a much greater market segment, which should significantly reduce costly marketing expenses. All these savings are passed on to the purchaser thereby creating a fantastic deal.

At Happy Holiday Cabins we want to re-kindle the traditional cottage experience at a price the average person can afford. You can have ownership in a cozy cottage where family and friends can gather to play and relax. You can be on the lake away from the hectic pace of everyday life and still be only a 20 minute drive to the nearby city of North Bay.

FREQUENTLY ASKED QUESTIONS:

How much will it cost?

Our prices start at $40,000.  This is thousands of dollars less than what you would expect to purchase a cottage for on Lake Nosbonsing. 

What's the difference between "Time Share" and "Fractional Ownership"?

Time shares entitles you to "use" your cottage.  You typically do not own part of the physical asset.  In the case of Fractional Ownership you actually own an asset.  It can increase in value and you can sell it.  It is an investment which you can enjoy while you own it.

What happens with the rest of the resort?

The resort will continue to operate as it currently does as each unit is sold.  Our repeat guests and the traveling public can continue to enjoy vacations at Happy Holiday Cabins for the foreseeable future.

Is there a beach?

No--each cottage has it's own lake frontage and the beach area in front of Cottage 4 and Cottage 5 will be for the private use of whoever purchases those cottages.

Is there a dock?

Yes--included in the sale of each cottage is one dock and one picnic table.

Can I have guests?

Of course you can.  This is your cottage and you can have friends and family visit as often as you want.  This is entirely your choice.

Are Pets Allowed?

Yes--Your pet will have to be contained to your section of the property.  The laws in East Ferris Towship require all pets to be on leash at all times.  No pets will be allowed on the common grounds unless a majority vote between the shareholders agree this is okay.

What will I own?

You will share ownership with other shareholders who together own the entire resort through a  corporation called 1743617 Ontario Inc.  You will have the right to occupy your cottage and designated property as set out in a legal document signed by both parties.


Who pays the electricity?

You will be responsible for your own hydro, and any other maintenance of your cottage.  The cottages are sold "as is" and you can renovate and upgrade at your will.  Any work done is subject to the Ontario Building Code and East Ferris by-laws.

What about water and septic?

Each cottage will have it's own water pump drawing water from the lake which you will be responsible for the maintenance or replacement of.  These are summer water lines and will have to be drained before the winter at your own expense.

Each cottage has it's own Class 1 septic system.    You will be responsible for having them pumped whenever needed (usually every couple of months during heavy use) and once every two years by law. 

What are the maintenance fees?

You will be responsible for your share (along with the other 11 owners) of the upkeep of  the common property--being the volleyball and horseshoe pit area, showers, fish cleaning station and any maintenance to the common laneways.  You will be responsible for your own lawn/yard care and keeping your own driveway snow-free in case of winter use. 

Can I sell my share?

Shares are yours to sell or pass on to your heirs at your will.

Who pays the property taxes and insurance?

Each shareholder is responsible for their share of the property taxes and insurance on their cottage and shared common area. 

Is there an elected Board of Directors?

Yes--A meeting will be held once a year between shareholders and the Board of Directors to make any plans, deal with requests, collection of money owing for taxes, insurance, maintenance etc. owed by the shareholders.


When can I purchase a unit?

We plan to launch our sales program mid-July 2007.  Occupancy will be available in the Fall of 2007.

Can I view the cottages to see what they look like?

You can make an appointment to view the cottages with the Real Estate Agent or you can rent a cottage through Happy Holiday Cabins (depending on availability) and get an idea of the facilities and area.

How do I get more information?

Contact Wilfrid Weiskopf, Real Estate Agent at Prudential Kleimaker & Bruse Realty Ltd., Brokerage, 705-474-8000.