Paying taxes on a half-million-dollar capital gain from a cottage or an investment property is a good problem to have

Paying taxes on a half-million-dollar capital gain from a cottage or an investment property is a good problem to have

  • FireRetardant@lemmy.world
    3·
    8 months ago

    It WAS affordable. Even now these lots are costing more than what a house did a few years ago. I service a lot of these rural hunt camps and cabins and ones purchased recently have numbers in the 250,000-500,000 range for a shack that needs repairs sitting on an acre 45 minutes down a dirt road.

    • sailingbythelee@lemmy.world
      2·
      8 months ago

      Interesting, thanks. Forty-five minutes down a dirt road sounds like a dream. Ours is 1.5 hours down the highway, then 1 hour on logging roads, and the final leg is a good half-hour by boat through a labyrinth of narrow channels. No road access and no services. The log cabin is a Wendall Beckwith design so it looks cool, but my wife’s father didn’t take good care of it so it leaked quite a bit before I put a metal roof on it. (That was fun with boat access and a small generator only capable of running a jigsaw, let me tell you.) We have an open invitation for any of our friends that want to use it and no one ever takes us up on it, so I suspect it will still be quite affordable for someone, if we ever decide to sell it.