According to the MN Dept of Revenue, lake homes have increased in value while other MN homes have lost 10% from 2006 – 2010. As a lake home owner it is just one reason to be thankful for the purchase. The best thing about owning lake property is that there is only so much of it, and to have a little piece of heaven to call your own is great, but to have it increasing in value is even better.
The biggest concern with purchasing a second home is that you can afford to make the payments and to keep the property up. Foreclosure can still be a risk and property upkeep can be a concern sometimes as well.
Who will mow the property and keep it looking nice? Will you hire a cleaning service to maintain the cleanliness of the home when you care not there? What about siding, roofing, driveway maintenance? These are all things that will need to be considered.
Even with all this said, we love our time at the lake. With relaxed weekends spent with family and friends, boating, fishing, cooking, having campfires, nature walks, and the pure joy of not having to set an alarm. This makes everything worthwhile. To find that it is maintaining its value is just one more benefit.
I love the lake life and would love to help you find your lake home too. If I can help you in this process, please give me a call at 651-214-1459. Kim Woehl – Keller Williams Premier Realty You can find me right here in the lakes area!