Buying a cabin in the woods can be a great investment as long as the homeowner takes care of the property. During the recent pandemic, people in cities were looking to escape to quiet cabins or rural towns where life is slower and less busy. This increase in interest drove the cabin and cottage market up, as inventory began to shrink. Owning a cabin in the woods provides an opportunity for a getaway from crowds and the noise pollution often found in metropolitan life. Buying a cabin can be a great investment, if you treat it as both a personal and financial commitment.
The Personal Investment of Owning a Cabin
Thinking of a property as a financial investment is expected but thinking of it as a personal investment is something you should prioritize. As you are looking at cabins, first and foremost: find one that you would enjoy. Escaping a busy everyday life to slow down, enjoy nature and live in the moment is one of the greatest feelings. Visiting your cabin in the woods, provides you with a great personal investment for your overall well-being and health. When life gets crazy you will have your escape to balance. Additionally, personally investing time-in the maintenance and care for your property leads to maintaining and growing its value.
The Financial Investment of Buying a Cabin
Everyone who visits the Adirondacks is looking for that cute cabin in the woods for vacations or a second home. The constant demand for cabins and cottages helps the financial risk of owning a cabin in the woods or by a lake. In many cases, resale can happen quickly and often people make a profit if they have continued to invest in the upkeep and comfort features of the cabin.
Many cabin buyers choose to rent their property to vacationers and travelers. One of our most popular cabin rentals is a small private log cabin that sits on a brook in Lake Placid. The size and location of the cabin will also play a role in cabin investment financials. If the cabin is run down and in an unpopular area it will not be as good of an investment as something that has been cared for and is located in a more popular area in the Adirondacks.
If you are prepared to invest personal time and financial resources, you will enjoy cabin ownership and find it to be a great investment vehicle.