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SOOO tempting....buying a place up north


Ottakee
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Dh grew up spending many of his summer weeks about 2 hours north of here in a tiny little village on an inland lake at the village campground.  Fond, fond memories of those times/places.

 

Well, tonight I was playing around on craigslist and came across a listing from 2 days ago for a house/store front from that village that has that village campground in its back yard.  Campground is a small 30 lot place next to a public park, boat launch, etc.  This storefront faces the main street in town and has a "store"/common area with big windows up front with a kitchen and bath in the back section.  The upstairs features 2 bedrooms and a large loft/open area.  There is a basement too but no idea what condition that is in at all.

 

Thing is, it is only $20,000 and has excellent potential as a summer place, rental, vacation rental, etc. Even in the winter there is a lot of snowmobiling in the area, ice fishing, etc.

 

If we weren't 2 hours away I would schedule a walk through.

 

SOOOO tempting.

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You need to at least check this out! 

 

We own a camp 2 hours away from our residence. It cost a lot more and has zero money-making potential, lol. We've made many great memories. It's a great thing to consider if manageable. 

 

Is there any chance that it might provide a job to one or more of the kids, whether it be through a store front or helping with renting, etc? 

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It is a tiny village of 281 people in a rural area. Not many jobs at all in the area outside of a few basic services and vacation/recreation rentals

 

I know it would need updated plumbing and electrical $$$$ and likely insulation and furnace $$$$ and maybe windows and kitchen $$$$.

 

The location is one DH loves and has access to snowmobile trails for winter rentals and opportunity for summer recreation.

 

Bonus it is in the 6 county service area for his tribe (Native American) so there are some tax incentives and other tribal benefits to owning in that area.

 

Key would be an inspection for foundation, water/sewer, etc.

And not sure what property taxes would be. Very little zoning in that area.

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Go!  Look!  Seriously, two hours is nothing, and that is darned cheap.  Go check it out.  Let sentiment and the making of memories be part of your decision making process, too.  I know whereof I speak.

 

If I could buy something in my choice vacation spot for $20,000, I'd be there in three hours - this is how long it takes me to get there.

 

Call / email / ask for details. What does dh say - or is he speechless? :)

 

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If I could buy something in my choice vacation spot for $20,000, I'd be there in three hours - this is how long it takes me to get there.

 

Call / email / ask for details. What does dh say - or is he speechless? :)

 

 

Ha.

 

Where is yours?

 

Mine is Pinecrest.  :)

 

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It is a tiny village of 281 people in a rural area. Not many jobs at all in the area outside of a few basic services and vacation/recreation rentals

 

I know it would need updated plumbing and electrical $$$$ and likely insulation and furnace $$$$ and maybe windows and kitchen $$$$.

 

The location is one DH loves and has access to snowmobile trails for winter rentals and opportunity for summer recreation.

 

Bonus it is in the 6 county service area for his tribe (Native American) so there are some tax incentives and other tribal benefits to owning in that area.

 

Key would be an inspection for foundation, water/sewer, etc.

And not sure what property taxes would be. Very little zoning in that area.

 

Slow and steady wins the race.

Can you camp there?

Sometimes in cases like this it is helpful to think of it as a fully owned campsite in the location of your dreams with a really nice functioning bathroom all your own.  I still think $20K is cheap for that, particularly since "The location is one DH loves".  There is something really special and unduplicable and invaluable about land that you love.

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DH is open to it. Loves the area.

 

We would need to see if there is clear deed to the property and what the survey says for lot lines, etc. As the parking situation is a bit unclear from what the ad says.

 

On the positive, DH works 4 days a week 2nd shift but has a 3 day weekend every week.

 

Not the cabin on 20 acres we were thinking but......

 

With a home.equity loan/line of credit we could easily do this.

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If you really wanted 20 acres, would this really provide what you wanted from a vacation spot?  Is there enough public land that you would be able to do all the things you wanted to do on your own land?  Would there be additional expense for those activities that you wouldn't have if you owned the land?  Just some things to think about.  If you go up to look it over, keep your eyes open.  Maybe you'll see the perfect spot, stop to inquire, and discover they'd like to sell it cheap.  :)

 

ETA:  I just remembered a bad experience a local man has had from buying an old storefront.  If you are still interested in the place after you see it, you should find out if the storefront ever housed a dry cleaners.  There are some environmental concerns with that which can lead to many thousands of dollars in chemical clean-up expense for new owners who didn't own the dry cleaners, but who become responsible through ownership of the property. 

Edited by klmama
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Find out what the store sold and stored. There is property in this area nicer than that for $13,000 which can't be sold because the previous owner contaminated the ground dumping motor oil and parts cleaner. The state estimates $55,000-$100,000 for the clean up. So I would want a full environmental report on the place before going forward.

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I grew up in West Michigan and have so many fond memories of going up north. I think we had 4-5 places we could go, between family land and generous friends. There were periods when we'd go nearly every weekend, sometimes with extra relatives tagging along. You really can't beat those northern Michigan autumn drives, those summer nights on the lake....sigh. Two hours is perfect.

 

But take it slow. If, on inspection, this property has serious flaws, then surely there's something just a lake or two over that's a comparable price.

Edited by lavender's green
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Schedule a walk through! Two hours is really not that far.

 

Then, you will know if you love it or not.

If I wasn't working every day this week and then gone out of town to a conference Friday and Saturday I likely would.

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It's only $20K.  You could probably bargain that down a bit.  That is not going to stop you from getting your 20 acres.  It's a speedbump, not a roadblock, on the path to that.  And my guess is that there is a lot to learn here that would be helpful--possibly one of the things being getting to know all the locals so that you get a private deal for the 20 acres nearby.  Seriously.  That's how those places mostly work.

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DH isn't sure this is the right time.....and he is likely correct. The price and location are good though.....until like on TV we run into all of those hidden issues.

 

Hey, maybe we could be on HGTV and have them help fund the project????

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Dh grew up spending many of his summer weeks about 2 hours north of here in a tiny little village on an inland lake at the village campground. Fond, fond memories of those times/places.

 

Well, tonight I was playing around on craigslist and came across a listing from 2 days ago for a house/store front from that village that has that village campground in its back yard. Campground is a small 30 lot place next to a public park, boat launch, etc. This storefront faces the main street in town and has a "store"/common area with big windows up front with a kitchen and bath in the back section. The upstairs features 2 bedrooms and a large loft/open area. There is a basement too but no idea what condition that is in at all.

 

Thing is, it is only $20,000 and has excellent potential as a summer place, rental, vacation rental, etc. Even in the winter there is a lot of snowmobiling in the area, ice fishing, etc.

 

If we weren't 2 hours away I would schedule a walk through.

 

SOOOO tempting.

As long as there is nothing wrong with the land itself, I would do it. I would assume I could fix the house so I wouldn't worry about that. 2 hrs away is a nice distance - close enough to go up Fri night and get a swim in before bed and to not have to leave Sun until after supper (provided you work a typical schedule), but far enough away to feel like a retreat. I vote you move quickly on this before it disappears! My dad bought something similar on an impulse when we were little and he says it was the best thing he ever bought.

 

Nan

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