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Cabin + Land n New England

  1. #1
    Lifer tsorfas's Avatar
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    Cabin + Land n New England


    Besides Gino does anyone else have a cabin with a decent amount of land in New England?
    Is anyone looking to buy one?
    What do you think of the current market?
    Obviously each area is different but I wanted to see how others are feeling about this concept.

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  2. #2
    Don't bother me! R7's Avatar
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    Re: Cabin + Land n New England

    Not exactly a cabin, but my house sits on 153 acres in Rhode Island. I'm not sure I could live near people after living here for 3 years now.
    Here, there has been a sharp rise in values in the last few years.

    I also have a small camp on 5 acres in Maine, based on what I've seen, it hasn't gained much value in the past 10 years. I used to go up there 4-5 times a year, but the area has kinda lost it's lust and it's a miserable drive.

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  3. #3
    Lifer tsorfas's Avatar
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    Re: Cabin + Land n New England

    Well you do have 150+ acres. Lol

    I was thinking something right over the NH border, maybe even W MA? South VT?
    I am not sure. I always hated the idea of owning a “vacation” house because then I would “have to” go there to justify the purchase. But if a smoking deal comes across why not?

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  4. #4
    Lifer gixxer72's Avatar
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    Re: Cabin + Land n New England

    Quote Originally Posted by tsorfas View Post
    Well you do have 150+ acres. Lol

    I was thinking something right over the NH border, maybe even W MA? South VT?
    I am not sure. I always hated the idea of owning a “vacation” house because then I would “have to” go there to justify the purchase. But if a smoking deal comes across why not?
    The cabin/vacation home is a novel idea but the reality math doesn’t work. A lake house less than 1/2 hour from home might be the exception. Otherwise, a 2nd mortgage, travel time, vacation time wasted on maintenance/repairs, extra costs, etc all add up to make it not worthwhile. Do the math on renting someone else’s camp for a week or two per year vs owning. No maintenance or added cost, no wasted vacation time, no fucks given, and the flexibility to go to different locations at will.

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    Super Adventurer SRTie4k's Avatar
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    Re: Cabin + Land n New England

    Real estate prices in NH are absolutely insane right now. I'd wait a few years, the market is bound to crash again (subprime loans are a huge market again already), then scoop something up for next to nothing.

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  6. #6
    Lifer
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    Re: Cabin + Land n New England

    I've got 100 acres and a cabin with detached 2 car garage in upstate NY. I can be there in well under 3 hours from Worcester. It's absolutely awesome. All my neighbor's are amish. I looked all over but settled on NY. Taxes are higher though but that's relative to what you are expecting. It's pretty inline for vt and nh property but very high compared to ma.

    If your talking about buying/selling cabins from a real estate prospective I think it's a good time to sell things and not a good time to buy. I am heavily into real estate and I see a market correct or bubble burst looming on the horizon. I've actually stopped investing investing in real estate so I dont get caught up like I did in 2008 and took a heavy hit. I am just building cash reserves to strike when the market falters which I believe will be in under a year. The signs are there.
    However, in regards to cabins specifically I dont think there is much risk or gain in buying or selling now. I think of cabins as under 100k and toys basically. No matter the market they dont really change in value tons as long you bought a decent one at a decent price. They are things you can sit on forever basically. I paid 40k for my chunk and have offers of 50k for it and that's about as high as it will ever go I think. It will always be worth about that. Not a great deal of money really either way.

    In short they arent really an investment. It's just a place to park money.

    My spot is in schoharie country just outside of Albany. Take a look there for places. Some real bargains to be had for sure.

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  7. #7
    Burns retinas nhbubba's Avatar
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    Re: Cabin + Land n New England

    I keep having that dream. The math gixxer refers to keeps slapping me out of it. I'm just too rational to say "fuggit" and do it anyway.

    My in-laws are talking about buying some land and building a retirement house. My wife and I love to window shop for such things and we've been pretty surprised at how reasonable lakes region land is. Their requirements aren't what I would want, they are okay with (almost prefer) <1 acre lots in a development and are even open to a shared beach rights arrangement where there is an HOA. We found several plots that match that requirement set for <$25k. ... Then they'd have to build.

    A few years ago Randy mentioned 1/4 acre lots <$5k. That I have not seen.

    Wife and I are squarely in the "we'll just rent it for now" camp. Right now we are more interested in going to a variety of different places anyway.

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    Lifer SteveM's Avatar
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    Re: Cabin + Land n New England

    Quote Originally Posted by gixxer72 View Post
    The cabin/vacation home is a novel idea but the reality math doesn’t work. A lake house less than 1/2 hour from home might be the exception. Otherwise, a 2nd mortgage, travel time, vacation time wasted on maintenance/repairs, extra costs, etc all add up to make it not worthwhile. Do the math on renting someone else’s camp for a week or two per year vs owning. No maintenance or added cost, no wasted vacation time, no fucks given, and the flexibility to go to different locations at will.
    That’s an overly broad statement. It largely depends on what you like to do when away and how much you value control over the time and property. Not everything is an investment, nor a math problem (and I teach both).

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    Lifer gixxer72's Avatar
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    Re: Cabin + Land n New England

    Quote Originally Posted by SteveM View Post
    That’s an overly broad statement. It largely depends on what you like to do when away and how much you value control over the time and property. Not everything is an investment, nor a math problem (and I teach both).
    I don’t disagree. To each their own.

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  10. #10
    Posting Freak BSR6's Avatar
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    Re: Cabin + Land n New England

    Quote Originally Posted by gixxer72 View Post
    The cabin/vacation home is a novel idea but the reality math doesn’t work. A lake house less than 1/2 hour from home might be the exception. Otherwise, a 2nd mortgage, travel time, vacation time wasted on maintenance/repairs, extra costs, etc all add up to make it not worthwhile. Do the math on renting someone else’s camp for a week or two per year vs owning. No maintenance or added cost, no wasted vacation time, no fucks given, and the flexibility to go to different locations at will.
    I couldn't disagree more although I do agree that the distance from your primary home is a factor. We have a summer home on a lake that is 45 minutes from where we live and it's worth every dime and minute spent on keeping it up and running (which hasn't required me to take any time off from work). We are there every weekend and frankly I can't think of a better summer routine. This goes for everyone else on the lake with a seasonal home so it's not just me. Well over half of the lake is populated with weekend warriors driving anywhere from a half hour to 2 hours every Friday from Memorial Day through Labor Day.

    My advice is keep it less than an hour and a half from your primary home but otherwise it's certainly worth considering.

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    Lifer loudbeard's Avatar
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    Re: Cabin + Land n New England

    Agree with gixxer for the most part; the exception being if you are retired and now have the time allowance that will let you actually utilize 2 homes and/or purchasing one for impending retirement. The retirement game changes everything. My Dad has a place in Marlborough, NH that is his primary residence and a lake house near Lewiston, ME that they open May 1 - October 1. They go to and from mid-week to avoid the crazy traffic which is key.

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    Don't bother me! R7's Avatar
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    Re: Cabin + Land n New England

    Quote Originally Posted by tsorfas View Post
    Well you do have 150+ acres. Lol

    I was thinking something right over the NH border, maybe even W MA? South VT?
    I am not sure. I always hated the idea of owning a “vacation” house because then I would “have to” go there to justify the purchase. But if a smoking deal comes across why not?
    If you’re looking for a long term investment, I can see buying a cabin that suits your needs.... if you plan to use it often. For me to justify a second mortgage, I’d want to be at the place every weekend. I know time wise, it’ll only end up being a place to visit 4-5 times a year.

    And for a 3-4 time a season place to get away, you’re better off renting. Just walk away when you’re done using it, no property tax, no insurance, no upkeep, etc.

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    Re: Cabin + Land n New England

    Thats a hard no from me dawg


    I have enough shit to do on one house

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  14. #14
    Angry Gumball RandyO's Avatar
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    Re: Cabin + Land n New England

    Quote Originally Posted by nhbubba View Post

    A few years ago Randy mentioned 1/4 acre lots <$5k. That I have not seen.

    .

    you will probably find those again in the development I was thinking about, but would have to wait before they are buildable due to a moratorium on hookups to the community water system

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    Lifer Garandman's Avatar
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    Re: Cabin + Land n New England

    The real estate taxes on our place near Sunapee are astonishing relative to the purchase price: 6-7 times the rate in Boston.

    If you have more than 10 acres undeveloped, you can put it in Current Use and save taxes. If it’s not already classified that way they may fight you.

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    Lifer gixxer72's Avatar
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    Re: Cabin + Land n New England

    Quote Originally Posted by BSR6 View Post
    I couldn't disagree more although I do agree that the distance from your primary home is a factor. We have a summer home on a lake that is 45 minutes from where we live and it's worth every dime and minute spent on keeping it up and running (which hasn't required me to take any time off from work). We are there every weekend and frankly I can't think of a better summer routine. This goes for everyone else on the lake with a seasonal home so it's not just me. Well over half of the lake is populated with weekend warriors driving anywhere from a half hour to 2 hours every Friday from Memorial Day through Labor Day.

    My advice is keep it less than an hour and a half from your primary home but otherwise it's certainly worth considering.
    I didn't make that distinction very well in my post. Before we moved out west we were on the hunt for a lake property that was 30 min +/- from our house in Maine. Even then, it was a hard sell since my wife and I were both working full time. We considered buying something out here around Sedona or Flagstaff to escape the heat and be close to a ski mountain in winter, but the same arguments applied. It's kind of like a boat, they are fun to spend time on. Even more fun when it's someone else's. We've decided to make our current house here as much of an oasis as possible, and in doing so it's honestly where we want to be everyday anyway. I think that is an ideal compromise for busy people (install the pool, hot tube, A/V room, etc whatever makes you happy and enjoy the house more). Buy the vacation home when you are retired maybe..

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  17. #17
    Angry Gumball RandyO's Avatar
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    Re: Cabin + Land n New England

    Quote Originally Posted by nhbubba View Post
    I

    A few years ago Randy mentioned 1/4 acre lots <$5k. That I have not seen.
    .

    I will add to my previous posts about these "CHEAP" lots, you will not find them listed for sale, you have to hunt them down, find out who owns me and make an a ridiculously low offer, most of em were purchased in the late 1960's for $200-$300, original owners have died, and their heirs want to get rid of the taxes and association dues,as they have no plans to ever develop them

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  18. #18
    Burns retinas nhbubba's Avatar
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    Re: Cabin + Land n New England

    Quote Originally Posted by Garandman View Post
    The real estate taxes on our place near Sunapee are astonishing relative to the purchase price: 6-7 times the rate in Boston.
    How does the actual total tax due compare?

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  19. #19
    Lifer Garandman's Avatar
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    Re: Cabin + Land n New England

    Quote Originally Posted by nhbubba View Post
    How does the actual total tax due compare?
    NH is about $1,000-$1,200 less depending on year.

    Goshen was substantially less than Sunapee (our street is both towns). They don’t have their own schools, have one police officer, volunteer fire, etc. They pay Newport for schools.

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  20. #20
    Burns retinas nhbubba's Avatar
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    Re: Cabin + Land n New England

    It's almost like tax rate is only part of the picture. Almost like assessed property values and services rendered are important considerations too.

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  21. #21
    Lifer Garandman's Avatar
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    Re: Cabin + Land n New England

    Here are Goshen, NH’s published tax rates with estimates for $150k and $200k properties. They go up and down by year.

    http://www.goshennh.org/Goshen_Tax_Rates.pdf

    2018 rates by town. Keep in mind assessed values can vary greatly from town to town.

    https://s3.amazonaws.com/files.usmre...x-rates-nh.pdf

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  22. #22
    Rust never sleeps. whynot's Avatar
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    Re: Cabin + Land n New England

    My experience, I had a camp (shack) on 200 a. of woodland in the NEK for 30+ years, I loved going there for a rustic retreat and as a base for exploring the region, like hiking in the Northern Peaks of the Whites. To avoid traffic, I'd leave here around 9pm on Friday, get there around midnight -- return the same on Sunday. Had 1000' of town road frontage, then the land went up a south-facing slope in steps. I could drive in a ways on a rough road, then it was skid roads zig-zagging up to the top, with fabulous views across the CT River valley as you went up. Going in winter I'd snowshoe in, unless my neighbor insisted on sledding me up to the camp (shack). I could go on.

    Financially, taxes were very low, few services in town. I put the land into current use and had some timber sales that paid for everything. After 30 years, though, i got tired of the drive, and once I stopped renting here and bought a house, I didn't care to maintain two properties. After a while, it sunk in that as beautiful as it was, it really was a rural industrial area of forest products, sand and gravel (aka strip mining), and agricultural (think pesticide drift and liquid manure spreading, for example). In selling, I made out fine. The place served its purpose for me, and I was glad to move on and explore all the rest of New England that I missed.

    Financial considerations aside, though, I'd get this place in Petersham MA -- turn-key, good access, close to great riding and hiking ... plus three-car garage with apartment above ...

    https://www.zillow.com/homedetails/1...7632688_zpid/?

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    Last edited by whynot; 07-30-19 at 02:51 PM.
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  23. #23
    Super Moderator TheIglu's Avatar
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    Re: Cabin + Land n New England

    And Petersham cops. Good luck with that.

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