Anyone own a lake house?

[beast 496]

We don't have a Vacation cottage, but we do live on Lake Wawasee in Syracuse IN. I have lived on a lake my entire life except while at school and 2 years when I lived in Sterling CO. Once you live on the water, it just doesn't seem right to not be close. If you can afford it, do it, you will not be disappointed. In the winter you can always go and have winter activities also. Having the boat on a lift is great, I gaurantee you will use the boat alot more. Good luck Al

[dshaff24]

Personally Id look for a lake with a seasonal campground and docking.. Pay your 1250 a year pls 600 for the dock.. and you have a place to crash on the lake and a dock!

My Dad sold our place in deepcreek maryland and purchase a whole campground in tygart lake wv.. Best move i m o.. income + fun

That and you have camp fires..pool and golf carts

[KY Steve]

I just built a house on Lake Cumberland in Jamestown KY last fall, its 2-1/2 hours from our primary residence. I not only built it because we spend almost every weekend there but also for an investment and we plan to use it year round. I was fortunate enough to pay cash for it from earnings from other smart investments.

My monthly expenses are fairly low so far, I turn the heat down to 55 in the winter and the bill has averaged $45 but haven't been through a summer yet. My water bill has averaged $16 a month and I have yet to receive the tax bill since the house was built. I've owned the lot for several years before the house and the taxes were not much, property taxes in rural counties of KY are fairly reasonable even in the developed cities on the lake.

If we hadn't planed to use the house year round I would have invested in something else. It would be a big expense if you only used it during the Summer months, especially if your paying interest on it. You should still count the principle in the payments as equity unless its a shack or mobile home.

So, even though I'm new to the game I feel it will be worth it. We have young kids and looking forward to making the trip a regular part of our lives. If the day comes when we start to use it less frequently I will look for something different. Maybe out west in the middle of some powder and steeps.

[HIFLYR]

I just built a house on Lake Cumberland in Jamestown KY last fall, its 2-1/2 hours from our primary residence. I not only built it because we spend almost every weekend there but also for an investment and we plan to use it year round. I was fortunate enough to pay cash for it from earnings from other smart investments.

My monthly expenses are fairly low so far, I turn the heat down to 55 in the winter and the bill has averaged $45 but haven't been through a summer yet. My water bill has averaged $16 a month and I have yet to receive the tax bill since the house was built. I've owned the lot for several years before the house and the taxes were not much, property taxes in rural counties of KY are fairly reasonable even in the developed cities on the lake.

If we hadn't planed to use the house year round I would have invested in something else. It would be a big expense if you only used it during the Summer months, especially if your paying interest on it. You should still count the principle in the payments as equity unless its a shack or mobile home.

So, even though I'm new to the game I feel it will be worth it. We have young kids and looking forward to making the trip a regular part of our lives. If the day comes when we start to use it less frequently I will look for something different. Maybe out west in the middle of some powder and steeps.

Conjrats Steve sounds nice. I have had a house on Pickwick Lake for over 10yrs and did live there for a while and commuted to work but it proved to be a pain so I moved back to the Memphis area about 2 hrs away. We now go year around and spend summers at the house but as the kids get older it is harder to do, as they get involved with friends or sport activities. After my daughter goes to college in 7 yrs might sell and look to the gulf coast but not sure. Keeping up two houses can get old but staying in your own bed, having your own dock and can come and go as you please is hard to beat.