Owning a cabin in the woods is a sort of romantic notion when you think about it. Images of everything from rugged frontiersmen to authors like Henry David Thoreau come to mind. Unlike a hotel or condo, your cabin can be an escape where you don't have to see another person for days if you don't want to. Our lives today keep getting faster and faster, so being able to have that retreat spot in mind can help keep us centered and when it comes time to head out into the woods you can fully decompress and enjoy the benefits fully. While that simple ability to escape is good enough for most people, it can actually make a lot of financial sense to buy a cabin too.
Save Money and Afford More than One Annual Vacation
Renting a cottage or cabin is expensive. For families on a limited budget, this usually means that you get one getaway each summer and then it’s over. The main reason to get a cabin of your own is usability. Rather than taking one week to travel to someone else’s cabin, you can go every weekend of the summer if you so choose. No matter how many times you decide to go, the cabin is going to cost you the same amount of money.
If you enjoy being out in nature and can secure a spot near the water, you’re pretty much set for life. Trips to the family cottage are what memories are made of, for children and adults alike.
Buying Land is a Long Term Investment
Purchasing a cabin is an investment and land generally goes up in value over time. Whether you decide to take on the task of building one from scratch or purchasing one of the beautiful modular log cabin designs that make ownership affordable, you’re putting money into something that could create a return on your investment should you choose to sell in the future. It’s an asset in your portfolio that you can build upon over time.
When you rent a cabin or cottage, prices are often inflated for a profit, and you never get that money back. While the memories you make during your trip are worth the money, the benefits of ownership far exceed the costs of renting.
Create a Second Income For Short Term Gains
Instead of renting from other people, you can list your cabin on Airbnb as an accommodation. If you can’t beat them, join them right? This will help offset the costs of maintaining your vacation home and, as you can pay for upgrades, you’ll be able to charge more to loan it out.
If you decide that you want to change things up and spend a week elsewhere, the income you generate from your cabin can pay for that rental. Alternatively, you can look at other families with the same idea and do a temporary swap.
Not Just for Family Vacations
Why owning a cabin might be a perfect choice for families, it's great for married couples with no kids too. Just because you have a family, doesn’t mean that every trip has to be a family vacation. Depending on where it's located, you can use your cabin as a hunting base and have a weekend with the boys. It could even be a quick weekend getaway to blow off steam and work on fantasy football lineups. Of course, it's not just about us guys - your partner will love the ability to get out of town for a few days to decompress too.
The point of having a private getaway is creating a retreat from the world, for whoever needs it at the time. You can open your doors to friends and family so they can benefit from the space when you aren’t using it.
Mental and Physical Health Benefits of Owning a Cabin
Owning a cottage or cabin encourages you to disconnect from mobile devices, spend time outside, connect with other people or connect with yourself. Even at the times when you’re eating smores and drinking wine, you’re engaging in face-to-face social interactions, which have a positive impact on your overall health and well-being.
You’re de-stressing and taking space from work and responsibilities, all while taking in the fresh air. Rather than watching television to while away the time, you’re reading or exploring the great outdoors. Owning a cabin is good for your body, mind, and soul.
These are just five considerations that could never completely encompass the years of enjoyment you’ll get from owning a private getaway. You can’t put a price tag on memories