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Originally Posted by TiltonBB
One thing I would point out is the increase in value over the time you own it. The good news is lakefront property seems to increase in value faster than non lakefront property inflation, the bad news is you can't spend or pay bills with equity.
I put a lot of money into improvements on the Gilford home I have. However, 20 years after I bought it I could sell for so much more. The math works out that I think I could get beck everything, purchase price, improvements and even taxes and insurance for 20 years. But to get that I would have to sell, and then what.
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This. Home appreciation is great-but doesn’t mean a thing until you sell it! As noted-with waterfront the gains can be incredible. But the memories and good times can’t be bought for any price. I know our lake house is our happy place-the feeling we have when there is complete peace.
I don’t know what happens with an association mentioned above? Do you own it? Is there any equity built? I don’t really know anything about them.
I tell the younger generation: one of the hardest things you’ll ever do is get in real estate. One of the best things you’ll ever do is get in real estate.