Plenty of lake properties are in trusts now so they are essentially passed down generationally. Properties that come up for sale are often people without heirs or heirs that can get along.
OnX is pretty interesting if you pick a lake and work your way around the lakeshore.
Lake front cabin properties are handled just like tillable acreage. They’re often put in trusts, they are rarely sold outside of a family, and it’s pretty tough to “make more”.
Just like land, if you’re waiting around for a cabin to get cheaper or for the market to open up a bit with more inventory at lower prices…your grandchildren will be waiting too.
Cell phone and internet are items that were on the top of my list because I work remotely and the security and hvac is nice.
The government program funding rural high speed internet is a gamechanger now up north…We recently had fiber ran to our place and that would have never happened if the program didn’t exist…
Lake front cabin properties are handled just like tillable acreage. They’re often put in trusts, they are rarely sold outside of a family, and it’s pretty tough to “make more”.
Just like land, if you’re waiting around for a cabin to get cheaper or for the market to open up a bit with more inventory at lower prices…your grandchildren will be waiting too.
From what I’ve heard, this is exactly right. The 2008 crash and temporary price decline was a once in a generation event that is unlikely ever happen again in our lifetime.
I talk a lot to a realtor who is a member of my gun club. He said they get a lot of webinars and other information about market forecast and conditions. The overwhelming opinion seems to be the market is going to continue to see above average price increases because inventory is so low and will continue to be low. Lots of demand and very low supply.
He said a significant trend is that baby boomers are aging in place. They are not selling their family homes and moving to smaller places until a much older age. This keeps inventory very low since baby boomers are still the largest demographic group that owns houses. They are also sitting on the house that is in the most demand, the larger family home.
He told me his advice for the last 10 years has been the same to everyone. If you’re ready to move or move up get in the market and keep looking until you find the right place. Don’t wait for anything because you may miss out on your best opportunity.
The government program funding rural high speed internet is a gamechanger now up north…We recently had fiber ran to our place and that would have never happened if the program didn’t exist…
Its pretty much a ridiculous racket though. They run fiber to one rural home, but there are hundreds of homes around me and we are just NOW getting fiber run to them. Makes no sense.
He said a significant trend is that baby boomers are aging in place. They are not selling their family homes and moving to smaller places until a much older age
Main reason here is in order to downsize from a 4 BR house in the metro, you need to fork in an additional $100k – $250k for a smaller house. Just about anywhere in the state. 
Don’t wait for anything because you may miss out on your best opportunity.
Solid life advice as well ! 
-J.
I would think the values in the metro are far higher than outstate MN, but yes, lakeshore is spendy.
<div class=”d4p-bbt-quote-title”>JoeMX1825 wrote:</div>
The government program funding rural high speed internet is a gamechanger now up north…We recently had fiber ran to our place and that would have never happened if the program didn’t exist…Its pretty much a ridiculous racket though. They run fiber to one rural home, but there are hundreds of homes around me and we are just NOW getting fiber run to them. Makes no sense.
I was definitely surprised to see new lines buried down our gravel road, but i’m happy…There’s no doubt the investment will pay for itself in X amount of years though, especially with the lines being buried and much less interruption risk…
I would think the values in the metro are far higher than outstate MN, but yes, lakeshore is spendy.
An empty lot out here that even has a glimpse of water, even a slough, has gone completely batshit. Its totally gentrifying right in front of our eyes. It started right at the Rona and hasn’t slowed down. Sometimes its easier to find just a run down cabin for cheaper because they don’t want a cabin that cant have modern plumbing. There is 8-11 lakes in the town I live in and they used to only have houses on about 5 of them. Now every puddle is getting some extended age work from homer with a Subaru building a barndominium on it.
https://www.zillow.com/homedetails/202-Two-Rivers-Rd-Fergus-Falls-MN-56537/125587415_zpid/
Heres a real good indicator of lot price with city utility.
An empty lot out here that even has a glimpse of water, even a slough, has gone completely batshit.
https://www.zillow.com/homedetails/202-Two-Rivers-Rd-Fergus-Falls-MN-56537/125587415_zpid/
Heres a real good indicator of lot price with city utility.
That sold for $38k in 2018, which doesn’t seem crazy for waterfront. What’s a comparable lot going for now?
Nope sorry, I actually thought that was for one of the two lots that were left they were selling this spring. Its pretty hard to find anything comparable even in the area. Alot of the really big houses have already been built. That neighborhood used to be mostly admin from OTP and Impliment dealers and that sort of middle class income which out here is like 2O% lower than metro. I did find a cabin on East Battle for 169000 though. Thats a hell of a good deal.
One factor that is often overlooked is how many lake homes were bought by investors and immediately turned into Airbnb’s. Especially when rates were low. It’s crazy to look around the Brainerd area at how many rental listings there are.
One factor that is often overlooked is how many lake homes were bought by investors and immediately turned into Airbnb’s. Especially when rates were low. It’s crazy to look around the Brainerd area at how many rental listings there are.
Its insane how many LLCs own 100s of lakeshore airbnbs accross MN and WI.
I’m pretty happy having a cabin near a lake, mine is 20 minutes from Hoodoo Point on Vermilion. I have 40 acres that is very secluded and quiet and my taxes are $400/yr. This dump on 4.5 acres of swamp is way more expensive than what I paid with even smaller cabin and everything in much worse shape: https://www.zillow.com/homedetails/Lake-Vermilion-Tower-MN-55790/2093472263_zpid/
I looked at a place on a small lake but one issue for me was is that a lake I want to fish forever? I wanted a destination lake and can’t afford nearly as much privacy on one of those or somewhere I can also deer hunt and grouse hunt out my door.
Even if it’s not your ultimate goal it might be worth looking around for something off-lake because there are so many more choices. I don’t think stuff is ever going to get cheaper so you can always sell it later and upgrade to lakefront. You might have a better time at your cabin in the woods now than just thinking about a lakefront one someday.
Reef think you linked to the wrong listing because I went and looked at the ‘swamp dump’ you were referencing. Ultimately were passing because of the ladies and condition of the cabin, but I wouldn’t mind swamp next to me because it means no one can build there. Mosquitos already suck for 2 months out of the year so what’s a few more.
But yeah, we have to temper our expectations because the market it still a sellers market. I think all the main points have already been made.
Our real estate market up here is very word of mouth. If you find a good local person that knows the community you can get in to a place without a bidding war.
But then again if you think cabin prices are high, look at Nashville. Those prices will make you pucker for just a 900sqt place.
I’m pretty happy having a cabin near a lake, mine is 20 minutes from Hoodoo Point on Vermilion. I have 40 acres that is very secluded and quiet and my taxes are $400/yr. This dump on 4.5 acres of swamp is way more expensive than what I paid with even smaller cabin and everything in much worse shape:
How long ago did you buy? I know it’s cheaper as you go North, but 40 acres with a decent bigger cabin is still going to be in the same price range ($180k) as that cabin you linked in todays market. I’ve been looking for hunting land for a few years in the Nevis and Hinckley areas, and even bare land (no cabin) is in the $2k-5k an acre range.
How long ago did you buy? I know it’s cheaper as you go North, but 40 acres with a decent bigger cabin is still going to be in the same price range ($180k) as that cabin you linked in todays market. I’ve been looking for hunting land for a few years in the Nevis and Hinckley areas, and even bare land (no cabin) is in the $2k-5k range.
4 years ago and I think it was a very good deal, we jumped on it day it was listed. It’s not much bigger, 16×24 instead of 12×24, but at that size every sq ft counts 
My point was just that lake front itself is a tremendous amount of money and there are some big pros (to me anyways, since money is an object) of being away from the lake and the trade off is worth it for me.
Reef think you linked to the wrong listing because I went and looked at the ‘swamp dump’ you were referencing.
OK, probably too harsh but that place looks pretty rough. I have plenty of swamp too but the ~15 acres around cabin is on is high ground. Looking at the satellite of that listing the cabin is in the corner and looks like the obvious place for the neighbor to build would right across the line and sharing the yard. Being close like that just doesn’t appeal to me at all personally.
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Reef that is exactly the type of place I aspire to own in 10-15 years. I have accepted to the fact that I will probably never be able to afford lakeshore property and that’s OK. Being in that area near Ely, you can throw a dart and fish a different lake every day of the week. Not to mention day trips into the bwca. My retirement dream would be to find a similar place in that area and work part-time at an outfitter or bait shop in town like Piragis or Arrowhead.
4 years ago and I think it was a very good deal, we jumped on it day it was listed. It’s not much bigger, 16×24 instead of 12×24, but at that size every sq ft counts
My point was just that lake front itself is a tremendous amount of money and there are some big pros (to me anyways, since money is an object) of being away from the lake and the trade off is worth it for me.
Haha yeah every sq foot and dry piece of ground matters, congrats sounds like you found a unicorn for the price! My point was just that 40+ acres with a nice little cabin on it is not too far off in price from the few smaller cabin properties still out there. I bet if you went to sell your property now, it would get pretty close to that listing.
#post-2289481″>FinickyFish wrote:</div>
Reef think you linked to the wrong listing because I went and looked at the ‘swamp dump’ you were referencing.
OK, probably too harsh but that place looks pretty rough. I have plenty of swamp too but the ~15 acres around cabin is on is high ground. Looking at the satellite of that listing the cabin is in the corner and looks like the obvious place for the neighbor to build would right across the line and sharing the yard. Being close like that just doesn’t appeal to me at all personally.
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Edit: Nevermind it was me who was wrong. I was thinking of a different swamp property we visited. They wanted $440k for that. It was accessible by road at least…
An old and tiny cabin just popped up for sale on the lake right across the street from our 80
Really wish I had the money laying around to buy it, but a guy can’t have everything they want right? 
Anyone have an extra $150,000 they don’t really need for me to buy it? 
I was hoping it wouldn’t come up for sale for another 7 years or so, but we should really pay off our land before making another big purchase.
If mortgage rates were better I’d look into doing a cash out refi on our house and buy it tomorrow.
Screenshot_20240916-174847.png
Edit: Nevermind it was me who was wrong. I was thinking of a different swamp property we visited. They wanted $440k for that. It was accessible by road at least…
I didn’t even see it was boat only 
I bought my land 12 years ago and according to the county, my value has nearly tripled. 80 acres and a log cabin. My lake home has nearly doubled in the 4.5 years I’ve owned it. Yes, I think the market is still hot. There’s been 4-5 homes on the market on our lake. They sell above asking price and they sell quickly too.
I lucked into one 3 years ago. So thankful I jumped at the opp.
A lot of solid advice has been given. I think you will see some ups and downs in pricing over time, but generally speaking lake cabins are a great investment. Like others have said, they aren’t making more lake property. We purchased 10 years ago. The cabin was in rough shape, but the lot and lake were what we wanted. Looking back on it, we didn’t have a lot of extra cash at the time, but we took a chance. Glad we did. We’re just now wrapping up nearly a 2 year process of tearing down the old and replacing with a modest A-frame.
Anyone have an extra $150,000 they don’t really need for me to buy it?
Have you talked to the boys? That jig business seemed to really be taking off, they can be the bank to Dad and learn the power of compounding interest now too. 
Where is this located? I have $150k I need to invest
An old and tiny cabin just popped up for sale on the lake right across the street from our 80
buy Gold… the hot tip for today !
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