posted by sportchampps

They own most of the land (until about 10-15’ from the water) but there is no water access anywhere on Lake Cumberland. There is a path (right beside the house with a parking lot) for the neighborhood that you can easily take a kayak and rafts in but that’s about it. There’s a community dock about 5 mins away we will use for a jet ski and then they will have a boat docked about 20 mins away. Luckily the boat dock is pretty cheap only about 2k for the whole year. They plan to add a pool in the backyard next year. 

They got the house for a good price because it needed sandblasted and stained which is going to cost about 70k to get all the black off the wood. 

Having a dock at the like would be a game changer.  When I got my new boat last summer I got to use that dock for the rest of the year, (8 weeks) and having it 100 yards away made all the difference in the world in wanting to hit the lake.   No longer the hassle of putting in and taking it out each time. Do have a channel 150' away that I can keep it for a few days at a time but not something I want to do all summer.

Had to get into the state dock lottery this year and will know 1 April but they are saying this is a record year of people in the dock lottery and they have no idea how many are available until 31 March when the deadline is to renew from the previous year.

Did hedge my bets and got a private one, for a bit more than the state dock, just in case because they are in very high demand.

Last year was a record year in boat sales at the area marina's and that will likely mean even tougher time getting a dock this year.

posted by thavoice

Having a dock at the like would be a game changer.  When I got my new boat last summer I got to use that dock for the rest of the year, (8 weeks) and having it 100 yards away made all the difference in the world in wanting to hit the lake.   No longer the hassle of putting in and taking it out each time. Do have a channel 150' away that I can keep it for a few days at a time but not something I want to do all summer.

Had to get into the state dock lottery this year and will know 1 April but they are saying this is a record year of people in the dock lottery and they have no idea how many are available until 31 March when the deadline is to renew from the previous year.

Did hedge my bets and got a private one, for a bit more than the state dock, just in case because they are in very high demand.

Last year was a record year in boat sales at the area marina's and that will likely mean even tougher time getting a dock this year.

Yeah they originally wanted somewhere with lake access but Cumberland doesn’t offer that and most big lakes were either to far away or didn’t have any properties for sale. They had to hurry and buy something because of the tax rules.

posted by sportchampps

In laws just bought this place...

https://www.trulia.com/p/ky/nancy/641-beechwood-dr-nancy-ky-42544--1150212093

I feel like that should cost more than that  

posted by sportchampps

Yeah they originally wanted somewhere with lake access but Cumberland doesn’t offer that and most big lakes were either to far away or didn’t have any properties for sale. They had to hurry and buy something because of the tax rules.

Never would have guessed that so many people were hard up during this pandemic with how hot boat sales and the real estate market is for lakefront properties!

posted by thavoice

Never would have guessed that so many people were hard up during this pandemic with how hot boat sales and the real estate market is for lakefront properties!

Getting rid of cash due to inflation

Real estate in certain places is booming. I've been casually browsing properties in Summit/Eagle County, CO, insanely competitive.

Oh you have, 50k to put down? That's nice, next guy just dropped 90% cash. It's absurd. 

posted by kizer permanente

I feel like that should cost more than that  

It needs sanded down and stained which doesn’t sound like much but is going to cost about 70k. It has several other little things that need done but it does seem like a steal. We met the neighbors last weekend and they said it cost the lady who had it custom built over 2 million

Our next home will be a longer-term, larger place on the westside of Denver, but still near the city (we commute downtown and eastside). We're looking at a 4-6 year timeline. We'll keep our current home for a rental, and can probably get $2k/month pretty easily ($1300 mortgage). The subsequent home will be hopefully be something in Crested Butte, Telluride, or Big Sky, but it's probably 10-15 years away unless an investment really booms.

posted by GOONx19

Our next home will be a longer-term, larger place on the westside of Denver, but still near the city (we commute downtown and eastside). We're looking at a 4-6 year timeline. We'll keep our current home for a rental, and can probably get $2k/month pretty easily ($1300 mortgage). The subsequent home will be hopefully be something in Crested Butte, Telluride, or Big Sky, but it's probably 10-15 years away unless an investment really booms.

Good luck in Crested Butte. The market is insane. My in laws bought a place there for 180k in 2014 and just sold it for 600k. With Vail buying the mountain the market went insane.

posted by iclfan2

Woah. That house is pretty sweet.

It looks like easily $1M+.  Nice bargain.  Just saw the other post that the previous owner had over $2M into it.  So, yeah, a steal.

posted by GOONx19

Our next home will be a longer-term, larger place on the westside of Denver, but still near the city (we commute downtown and eastside). We're looking at a 4-6 year timeline. We'll keep our current home for a rental, and can probably get $2k/month pretty easily ($1300 mortgage). The subsequent home will be hopefully be something in Crested Butte, Telluride, or Big Sky, but it's probably 10-15 years away unless an investment really booms.

I'm currently in West Denver, Wheat Ridge to be exact. 

Prices here are rather high for what you get. I'm way too late.

Yeah, things started boomed before we arrived in summer 2019. My $300k home in Aurora recently appraised at $362k, though, so that’s nice! We’re in a prime rental spot for the Anschutz campus and would love to keep it for that.