Friday, August 31, 2018

Cabins in the 'sticks' are reasonable!

I have a client that has been looking at cabins in a few remote locations. I am not talking about the moon or anything, but Goldendale, the Coast, and Packwood are among the locales considered. I am genuinely impressed with what one can find in a nice clean cabin on some land even 1/2 acre to 5 acres. I was looking in the $150-175k range and had no problem finding scores of properties meeting at least part of my client's criteria.

What a deal, for the price of a used Lamborghini you can have a cabin or beach house! The Lambo loses value as you drive it, the house gains value as you live in it.

The map shows the western half of Washington State and the check marks are the locations of the cabins/cottages/beach houses I showed my clients over the week. Sure these spots are not exactly in the thick of it all, but that's really the point of a cabin, right? Getaway from all those crowds and city issues and hang out in the wilderness or watch the waves crash on the shore.

Interest rates have been rising but they remain well below the 50 year average and that means buying a cabin is cheap right now! Talk to your tax pro and see if you can write off the interest on the "second home" and you might be pleasantly surprised to find out you can.

Washington State is chock-full of deals ob cabins in out of the way locations. As for the beach, we have the best beach house deals around. There is a tiny window here while rates remain manageable. If the cabin is not financable and you have a large chunk of equity in your home, you might be able to use some of that equity to pay cash for a cabin or other second home. 

Remote off the grid cabin... hmm... seems pretty legit :)

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