If you’ve been holding on to your lake home or cabin, it may be time to consider selling. According to the National Association of REALTORS®, vacation home sales were up 16% in 2020.
Locally, the trend is similar; buyers are circling and are ready to purchase lakeshore properties, and the low inventory in the traditional market is extending into the waterfront home sale market.
While market data is important, you might want to reflect on other aspects of your lake home when making your selling decision. 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 activities that can keep you from heading lakeside each weekend. If you’re starting to feel that your lake property isn’t being used as much as you’d like, you may want to consider selling.
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 kayak enthusiast or simply want to boat to a dockside restaurant every weekend, 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.
Keep in mind, wanting a home that better meets your needs doesn’t mean you have to give up living by the lake. However, it could indicate that it’s time to move to a different lakeshore property.