If you are thinking of buying a cabin in the mountains, then you probably have some disposable income and enjoy spending time in nature. That’s fantastic, congratulations. I agree that there is no better way to unwind than to spend time in the quiet beauty of nature. The Adirondack Mountains offer unparalleled beauty and peace in this regard. But if you’re looking to buy property in Adirondacks however, you may want to consider Adirondack rentals instead.
Over the last 10 years there has been a historic run-up in real estate prices. This ended in 2006 as we saw the average prices in America hit a peak and then start to turn lower. Adirondack cabins were no exception to the trend. To buy a small cabin on Adirondack lake used to be fairly inexpensive. But after the run-up, any property in and around the park with lake frontage became quite expensive. You will pay a premium for mountain views as well as remote locations with great privacy. For these reasons, Adirondack rentals have become more popular in the last two years.
Since 2006, as prices have started to fall, people have wondered if they should use Adirondack rentals until prices return back to their normal levels. Some people believe that real estate prices are back at their normal levels. The data I look at it don’t agree, and show we still have another 30 to 50% to fall from these levels. Whether or not I am correct, many people see Adirondack rentals as a way to avoid the risk of owning property as we wait and see what will really happen in real estate. The great thing about this approach is that you still get to enjoy Adirondack cabin with a Mountain View, or perhaps sitting on the side of a beautiful lake, without having to put down all the capital and worry all night about what you paid for the property.