Quote:
Originally Posted by DaFace
I don't think there's any formal boundaries on the thread. Similar to you, my wife and I are toying with the idea of buying a cabin in the woods. We could technically afford it, but there wouldn't be a ton of wiggle room (beyond our normal savings, investments, and other spending), so I'm guessing we'll end up holding off for now. That said, we're still just in our late 30s, so hopefully we can save a little more to do it in the near-ish future.
I do find it challenging to figure out how to view it in terms of an "investment." On the one hand, most of my net worth today can be attributed to appreciation on my house, but on the other, it's impossible to know how things will shift in the future. In addition, there are a ton of other costs to consider (taxes, utilities, HOA fees, etc.) that are a pretty significant drag on the amount you can expect to make off of it.
In short, I have no answers, but if you come up with any brilliant ways of thinking about it, let me know.
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I know someone trying to sell a cabin in Grand Mesa (about 90 minutes outside of Grand Junction), which sucks in that there's a lot of family history tied into it, and I'd love to buy it if it wasn't so far away.... then I heard they're looking for something like $300k.
I'm sure (or certainly hope) there are cheaper cabins out there, but I'd feel like I have to be there every weekend... except there are the costs and time involved with each trip, too.
But, I'm still in tent camping mode and haven't started down the path of RV/toy hauler/truck to tow it all/cabin in the woods... there's a flow chart.