It can be frustrating. You know a certain area and you want to be in that particular geographic region. You search the want ads, drive around endlessly and hope that you’ll see a for sale sign. When you do, you’re disappointed…the land isn’t right, the cottage is all wrong or both are not what you want. The disappointing combinations are almost endless.
I’ve been there. My wife and I purchased our first Northwoods property 10 years ago. When we couldn’t find the property we wanted in Central Vilas County, Wisconsin, we looked in the west of the county. Then we searched the east and the south. Finally in northern Vilas we found the lake we wanted, but there wasn’t a single property for sale – no vacant land, no tear down cottage, no beautiful summer home on the lake…nothing. We were told that, generally, the good properties never hit the market. Before they get listed a neighbor or relative or acquaintance is notified and the transaction takes place, quickly, quietly. That’s the way it is in the Northwoods. There’s a huge demand, a small supply and a network of interested parties. What’s the secret? How do you find great property quickly and get what you want?
There are a number of things to consider when looking for property in the Northwoods and there are a number of ways to go about getting what you want. Having been through the process and, now, being in the business of land development for recreational use, I can give you some advice.
First – sit down and make up your list of priorities. Write them down. It’s important to know what you want and to be able to verbalize the requirements. Do you want the north side of the lake? West, east or south? Do you want a lake that provides power boating, jet skiing, tubing? Is fishing a priority? Do you want a sand bottom for swimming or would a fisherman’s frontage do just fine? And, speaking of frontage, how much do you want? 100, 200 or 300 feet or more? Do you plan to build a home/cottage/cabin in the future or is this an investment that you intend to leave in a natural state? How far are you willing to drive from your home to the recreational property (or, how long are you willing to drive)? Do you want a secluded, private lake with few homes? How close do you want your neighbors to be? Or, do you like the hustle and bustle of a chain of lakes located near a thriving town or city – such as Minocqua or Eagle River? What is the level of investment that you’re planning on making? And, will this investment be made all at once (cash) or are you planning on financing the purchase? Are you planning on buying an existing home and land or are you purchasing vacant land and phasing into the property – first the house, then a garage, maybe a bunkhouse, etc?
Once you have the requirements listed and you and your spouse, partner, family and/or any other stake holders agree on the list, carefully ask the following question – What 70% of our requirements are most important? Almost everyone has a dream to fulfill from a recreational property perspective. They know what they want. What they don’t know is that 99.99% of the time, they can’t have it all. You have to be willing to compromise if you’re planning on having a second home on a lake, river or in the woods. The simple fact is that you’ll wind up getting 70% of what you’re looking for…and you’ll love it. You start out wanting everything – sand beach, great fishing, water skiing, north side of a medium sized lake with no public boat launch, level building site set back 75 feet from the shoreline, property is well wooded, 2 hour ride from Milwaukee, a great ice-cream shop and grocery store within a 5 minute walk and the whole enchilada should cost no more that $75,000. You quickly find out that the price seems inversely proportional to the distance from a major metropolitan area, often great fishing and water skiing don’t mix and the idea of a private lake near great shopping just doesn’t exist. So, what’s really important? Generally, you don’t want to compromise on the quality of the property or the lake, river or woods. You know you need a good building site and adequate perc for septic and guaranteed well water. While you want to only experience a 2 hour drive from your permanent residence, you may actually be willing to drive 5 hours because that puts you onto a lake that offers the features that are important to you. And, you know there’s nothing like pulling into the drive on a Friday night or on the beginning of a planned vacation and knowing”We’re at the lake”.
When searching for vacation property it’s important to have a plan and to work with a firm that specializes in what you’re trying to accomplish. That is, if you’re planning on buying great lake front property and building the cottage of your dreams, why would you spend significant time looking at other people’s hand me downs and consider tearing it down only to replace it with your plan? There is a significant amount of high quality, vacant lake front, river front and wooded acreage available in the Northwoods of Wisconsin and the Upper Peninsula of Michigan, but you have to know where it is and how to get to it. That’s where NaTerra and I come in. NaTerra is a recreational property development company that has been matching people with their dream property for over 25 years. NaTerra specializes in waterfront property, primarily on lakes, but also rivers, streams and acreage for new cabin construction. We provide over 70% of all waterfront property in the marketplace. I am a Land Specialist at NaTerra. My job is to match you with that property that best meets your requirements. In matching you with your dream property I do a number of things with/for you:
1. Truly understand your needs and desires
2. Educate you regarding the market
3. Walk the land with you and help you understand the property and its potential
4. Provide and explain covenants that protect your land investment
5. Provide guarantees such as “Build-ability”, perc for septic and well water
6. Bring electric power to your property
7. Provide a warranty deed and title insurance
8. Follow up to assure satisfaction
Purchasing recreational property for a second home, cottage, camp or investment should be a fun filled, invigorating experience. It shouldn’t be the trial of a lifetime. Chances are, you’re looking for that special piece of property to fulfill a dream, to realize a little piece of heaven right here in Wisconsin or Michigan.
Allow me to help you realize the dream. Please check out a few properties at www.tomfergusonnaterra.com. I'll be more than happy to assist you.
