The idea of buying a cabin in the woods to use as your vacation home can sound very charming and even romantic. For many people, it is. However, this is a real estate purchase, which means you will want to ask yourself the following questions before you jump right in and buy a cabin.
Are you looking for an off-grid cabin or a cottage?
Different people have different images that come to mind when they hear the word "cabin." Maybe you think of a true wooden cabin without electricity or running water. Or perhaps what you are picturing is more of a cottage—a small, simple home with running water and electricity. Before you start looking at cabins for sale, decide which of these home styles you're after. You don't want to waste time looking at one that doesn't fit your type.
How much can you afford to spend?
You don't want to overextend yourself with your cabin purchase. While you may assume cabins are cheap because they're such simple homes, many are priced higher than you would think if they are situated on a large piece of land. Figure out how much you can afford to pay towards your cabin each month. For example, maybe you have a spare $500 a month in your budget. Bring this figure to your banker or real estate agent, and use it to work backward towards the price you can afford to pay for a cabin. Then, only go look at cabins that fit into your budget.
Will you be renting out the cabin when you're not there?
Some people leave their vacation cabins empty when they are not staying there. Other people rent them out for some extra income. Either approach is just fine, but you need to know what approach you are going to take before you start shopping. If you'll be renting the cabin out, then you need to look for features that renters need and prefer, such as a location near any local attractions. If you're not going to rent the cabin out, then you might be a bit more flexible for properties that have minor quirks and won't need to be concerned with how a renter would feel about them.
Buying a vacation cabin can be a fun and rewarding experience. Ask yourself the questions above and then talk with a real estate agent to start the cabin-buying process. Contact a cabin real estate agent for more information.
