Northern Michigan and Wisconsin are some of the top areas known for their vacation opportunities. Most people enjoy the beautiful sights these states offer at various times of the year. Some enjoy it so much they have vacation homes in these areas! If you are looking to escape the hustle and bustle of your everyday life to enjoy the beautiful sights in your own rural getaway, here are some things to think about before purchasing!
Pros:
Having a private getaway. Owning your own slice of paradise in your favorite vacation spot means you won’t have to worry about hotel fees or sharing a campground with people you may not know. You can visit your paradise each year as often as you’d like and build memories that will last a lifetime with your family! Also, you will have the flexibility to choose when you want to visit that best fits your schedule. No check-in or check-out times required!
Investing in your future. Land does not depreciate in value like vehicles and campers, so investing in something like land or a second home will help increase your family’s assets. Not only is buying the property itself valuable, but you could choose to rent it out for others to enjoy when you’re back home. This will give you a little extra cash and you can still choose when you want to visit your getaway.
Cons:
Keeping up on maintenance. It can be hard to keep up on the maintenance of your property with lawn care or cleaning, when it is not your primary residence. If you decide not to hire a company for these general upkeeps, you will need to take time out of your vacation for these things. This can delay your relaxation time until your chores are done.
Singular Location. Some enjoy the variety of travelling and seeing new places. When investing in a rural getaway, you will be visiting the same vacation spot each time. If your rural getaway is in a very remote or secluded area, that could limit the variety of activities/sightseeing you can enjoy with your family.
There are many things to consider when looking for a rural getaway; are you a person that wants a cabin in the woods, a camper on a piece of land, or even a cute cottage near a lakeshore? Whichever rural getaway you decide upon, take a minute to consider the different pros and cons to owning your own vacation spot.
Learn more about GreenStone’s rural getaway financing options here and contact your local branch today to get started!
