Mickey, Tom and I drove out to the property to meet the Realtor, Dee. It was a typical November day, cold and gray, but I was warm and bubbly with excitement! :)
After the walk-thru, here's my latest findings about the cottage:
• The inside of the cottage is so lovely! It’s quite roomy, functional and has a lot places to build shelves, storage, etc. Overall, I’m very impressed with the overall feel and sturdiness of the interior.
• The roof is insulated with foam-board and the walls with traditional fiberglass insulation. One of my projects down the road in a year or two would be to re-insulate it.
• The upstairs loft is the length of the cottage, approx 20’…half of the loft is directly under the pitch of the roof, but the pitch is high enough I can stand up and walk down the middle. The east side of the loft is higher ceiling and lends itself to main sleeping area.
• The dining/kitchenette area includes a built in dining table that seats four adults. There is also small sink, dish rack, cabinets, drawers.
• On the east side, there is a separate room with a sink and drain/bucket for washing. In this room is a commode for cold/foul weather restroom use.
• The wood stove in the sauna is rust-free and seems sound.
• The 8’x10’ shed (attached to the north side), has lots of room for all sorts of tools, etc.
• The outhouse seems to be built very well. I’d like to talk with Jayne about how to convert it to a sawdust
composting pit.
• The property has 250’ of “waterfront”…when the lake returns! And the 3.33 acre property is split in half with the road, equal portion on either side as best as I can tell on the plat map. The realtor, Dee, is going to find out when was the last survey as well as water tested.
• Monday, I’ll call the local public health to find out who does and how much water testing. I’ll also call a couple surveyors to get an idea of how much it would be if there’s not been a survey done in a long while. Dee said I’m welcome to walk the property to see whether I can find the markers. I will walk it if there’s been a recent survey because I know those markers don’t last forever and I could wander for hours and not find them…it’d be like trying to find a cache with bad coordinates!
• Dee will also provide me with the name of the power company so I can find out how much it would be to run electric to the cottage. I did learn from Kathy, a friend of mine, to have it run to a “utility hitch” like to connect a RV. If I run it to the cabin, I’d have to wire throughout.
• Taxes for the year average $100/month as a vacation home. Since this would be my primary residence, Dee said taxes would be slightly lower under Homestead Tax rate.
• The only “hitch” is that, according to Dee, since the cottage doesn’t have plumbing, it doesn’t qualify for a mortgage or financing and as such, would have to be cash sale. I have a fair portion of the price in savings. Mickey is inclined to thinking that the owner would probably take $20k cash. There IS the option of land contract with the owner, but then I wouldn’t be able to negotiate a lower price.
So this where it stands for now. I know life being what it is, there’s no sense being anxious or overly eager. Things will work out how they will. I have no doubt this will be on the market for a while, given the fact it has to be a cash sale.