I was about to type up the same reply I did 6 years ago on the last thread haha!
Still living the same dream now that we were back then, but taxes have gone up, property value has gone up, deferred maintenance costs have gone up, the investment account has gone down.
My aunt was recently notified that the insurance co is dropping our coverage unless we take on a long list of repairs and tree removal. She is asking me to do the work because the money in the investment account is getting eaten up for taxes. I already do the dock in and out every year, and spend most of the one week I spend there with my family working on the place to keep it from going too far backwards.
My sister's family and her friends use the place as if they own it, but don't do any of the work to keep up with it. My aunt and uncle are 75 and 80 now and none of their kids (my cousins) are local to use it.
As much as the memories I have of the place are important to me and the new memories I have made with my kids there, the added stress and resentment built up between the family is a lot to deal with.
I floated the idea of buying it from the trust, but my aunt is expecting close to a million dollars for it (tax assessed at about $800K, most of the value is in the 200' of waterfront, the building is valued at 90k for taxes anyhow) and, with all the work that needs to be done, I don't believe it is worth that kind of money.
As unfortunate as it is, selling it and investing the proceeds may be the better path to getting your own place on a lake. Especially if your parents already wish to sell the place. You could buy some time to utilize the place, but inevitably there will be issues down the road, granted all our issues are coming to a head now, roughly 25 years after my grandparents passed.
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