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Lakewood Land Company: Tips for Buying a Cabin

Real estate firm Lakewood Land Company specializes in the sale of
undeveloped land in the southeastern region, often selling mountaintop
and waterfront properties ideal for a family cabin.

Many families dream of owning a cabin, but is buying a cabin right for your
family? There are a lot of things to consider before making the
decision. First of all, can you actually afford to take on what is
essentially a second home? You will probably assume a mortgage as well
as a handful of new bills. While you may only use the cabin during the
summer, you might have to pay basic utility bills year-round. Also, many
lenders require homeowners to put down between 20 and 30 percent for a
second home. You should also consider the real estate market; is this a
good time to buy real estate? If not, wait.

If you have decided to buy a second home, decide what the purpose of the

home will be. Obviously you will want to use it for vacations, but consider the length
and frequency of these trips. Do you want to use it regularly for long
weekend getaways? Then buy a cabin closer to your regular home. If you
want to use it for longer vacations and potentially for retirement
living, you will want to ensure that the home is located near the
essentials, like hospitals and grocery stores.

Finally, make sure you take into account the volume of time owning a

second home requires. Make sure you will have the energy to take care of a second
property, and take into account that lakefront and rural properties may
have slightly different maintenance needs compared to a standard home in
a city.

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