If you’ve been holding on to your lake home, it may be time to consider selling. According to the National Association of REALTORS®, vacation home sales were up 16% in 2020, as more people sought out safe retreats and took advantage of remote work opportunities due to COVID-19.
The trend is similar here in NW Wisconsin; buyers are circling and are ready to purchase lake properties, and the low inventory is extending into the waterfront home sale market.
While market data is important, you might want to ask yourself these questions if you’re still on the fence about selling.
Does the size of my lake home fit my needs, including hosting guests? If your family or friend group has expanded since you first bought your lakeshore property, it may be a tight squeeze when all the guests come for the weekend. Outside of selling, your best options are to limit your guest list or expand your current property’s footprint.
Is it too difficult to maintain my lake home throughout the year? Whether your property is higher maintenance than you were expecting, or you simply don’t get to the lake home as often as you hoped, the maintenance may begin to overwhelm your weekend trips.
Am I spending enough time at my lake home? No matter how much you prioritize life at the lake, there are plenty of close-to-home summer activities that can keep you from heading lakeside each weekend. If you’re starting to feel that your lakeshore property isn’t being used as much as you’d like, it may be time to sell.
Is the location of my lake home ideal? Consider your commute time and access to shopping, entertainment and other amenities. If you’re spending too much time getting to and from your cabin each weekend, or heading into town for basic errands, you may want to consider a location that works better for you.
Is this the right lake for me? Whether you’re a wakeboarder, an avid fisher, a paddling enthusiast or simply want to leisurely boat around the lake, there is a right lake for your needs. If you’ve realized that your lake doesn’t match with your interests, it may be time to look into other bodies of water that could be the right fit.
If you think this may be the time to sell, give me a call now at 218-590-6634. We’ll start with a home valuation.