Log homes are some of the more unique forms of investment of the twenty-first century. More people are benefitting from investing in property, and enjoying the additional income that it provides. Nowadays, the modern economy can be less consistent, which is why a lot of individuals are looking for ways to earn money on top of their regular job.
Depending on how you use a log home, there are a few ways in which you can turn it into a good investment. If you are looking for a rewarding investment that will grow in value over time, or even a more environmentally friendly way to become a landlord or homeowner, these are some of the different ways in which you can make the most out of your investment in a log home.
Using the Log Home
If you want to downsize your home and move into a more rural and sustainable dwelling, you might want to purchase a unique log home to live in. This allows you to save on utility expenses in the long run through reduced heating costs and lower electricity bills.
One of the reasons why log homes are so popular is because they encourage more environmentally friendly living. Solar panels and rainwater collection systems are becoming more popular within the small cabins, as well as natural compost toilets that use sawdust to trap odors.
If you want to live in a log home, you can earn money by selling your current home, as well as massively reducing your carbon footprint and lowering your monthly outgoing costs. Saving money on utility bills is something that more people are working towards, because the climate is rapidly changing.
In addition to this, log homes encourage people to spend more time enjoying the little things and spend more time outdoors. If you want to invest in a log home for its intended use, then it will provide you with a wealth of benefits, from long-term financial gains to mental health benefits.
Renting out the Log Home
Another way to earn money from your investment is to become a landlord and rent out your log home. Rural living is something that appeals to many who want an escape from modern life, which is why a short-term way of adding to your investment is to rent your log home.
You can offer short stays to tourists who want something a little more wholesome than a hotel, or even longer stays to people in need of housing. Not only will this help you make the most out of your investment and start seeing financial gains, but it can also encourage you to meet some new and interesting people with similar interests to you.
Build a Log Home
There are a few ways to invest in log homes. These include purchasing a cabin that has already been built, whether it needs a little TLC or is ready to go, there are a lot of log homes on the market to choose from. Additionally, it could be more rewarding to design your own log home and build it from scratch.
This is usually done by those who have spare land or have space in the area they live. One of the first steps if you choose to go down this route is to research local areas where there is land for sale.
The next step is to decide what type of log home you are interested in, and figure out where to get it from. Most modern cabin builders have developed their own kits that come ready to assemble. There are even some designs and plans available on Amazon.
It can be challenging to find what works best for you, which is why some kits are more generic while others feature custom designs. If you are fortunate enough to have a family member who is good with construction, it could be a bonding experience to build a log home together from scratch. It can be satisfying and rewarding to see a construction gradually come together, and it might even save a little money on the building costs.
This can be one of the most expensive and time-consuming parts of the process. However, it is definitely worth it in the end when you have your own small log home to live in or rent to other people who need housing. Another big expense at this stage is organizing utility hookups.
Underground pipes and electricity is definitely something that can be confusing, so it’s worth asking local maintenance companies for advice. Alternatively, it might be best to hire a professional to orchestrate the installation.
Regardless of if you choose sustainable or mains supplies, there is some level of expense required to get your log home up and running.
Increase the Value
Taking care of your log home and properly preserving it will not only allow it to hold value, but it can even increase over time. Your investment might see some bigger gains over time, and they have a very good resale value.
Depending on what you want to do with your log home, you can see big gains to your investment. You can organize to resell the home to another investor, or a real estate company. Another option is to continue to rent it out for short weekend breaks, which will see it being used as well as financial gains.
Even if you want to live in your log home for a period of time and then sell it or rent it, you will see an increase in your original investment as long as you take proper care of it.
Why invest in a Log Home?
Modern log homes have come a long way from traditional cabin-style constructions, and most companies will use reinforced wood that is some of the strongest and high quality out there. Not only that, but they are made out of more durable material than some modern homes.
A log home is likely to be an excellent investment, and can be your new sanctuary or someone else’s, depending on your situation and how much land is available within the area.
Another reason why log homes can be a good investment is that they are unlikely to decrease in value, and the chances are higher that your investment will increase over time. Being able to rent out a place can be beneficial at improving monthly costs, and ensuring that the place is lived in.
However, a potential drawback of this is that you cannot ensure that the cabin is being maintained. That is why it can be beneficial to live in it yourself, and consider downsizing your current home.
Common Risks
There are some risks that come with investing in a log cabin. These include the fact that they are more prone to pest infestation due to the rural setting in which they are often built. The wood itself attracts insects and other pests that can cause damage to the property.
Another issue with investing in log homes is that there is very little insurance coverage. This means that accidents, burglaries, and other worst-case-scenarios will need to be protected by your own personal savings. For someone considering renting out a log home, it is worth noting some common risks. You will need to do your research and make sure that you are fully informed of the legalities associated with insurance.
In spite of offering a tranquility within the wilderness, it is also likely that log homes will need more maintenance than an ordinary house. This is because it’s important to keep them in good condition as well as deter any pests from entering.
Being fully aware of the risks involved can be one of the biggest benefits when it comes to investing in log homes, because it will prepare you as much as possible. Not only that, but it will allow you to ensure that these kinds of incidents can be prevented and avoided.
Summary
Log homes come in all shapes and sizes, and offer a range of unique features. They can be small and cozy, or open and inviting. One of the big things that draws people towards log homes is the energy efficiency and option for more sustainable water and electricity sources.
Most log homes feature large open fireplaces, which keep them warm and draw people in on cold days. It is worth doing your own research to find log homes for sale, and compare with the cost of building your own. If you have someone in your close friends or family who can help, it could be a great opportunity to bond over the satisfying construction experience.
Speak with a professional about utility attachment and connecting to the mains, and ensure that you are keeping your log home in the best condition. This will allow you to see gradual increases in your investment and whether you want to sell it after a period of time or rent it out, you are bound to see great deals of cash coming your way.
Hi, my name is Matt Roberts, and I have been a financial analyst and advisor for the past 7 years.
While my job is based within the money industry, in my spare time I enjoy looking into potential new investment opportunities. From cryptocurrencies, to purchasing vintage cars, everything has the potential to gain you money if you are wise and make the correct investment decisions.
Through this site, I hope to educate others on investing in general, and hope to provide others with useful information that can benefit them and the opportunities they have. If you are not confident with finances, investing money can be a daunting step, however, it is a lot easier than many people are led to believe.
