Northview Bank is helping people make family a priority. For many, a cabin or vacation property feels like an impossibility because of the financial hurdles involved. By connecting people with manageable financing solutions for vacation property, however, we’re able to help people move into the right fit.

Before someone settles on buying a cabin, there are some important questions to ask.

Can you afford the additional costs?

Paying for a cabin is about more than affording the monthly payments. Miscellaneous repairs alone can be a significant draw on a cabin-owner's resources. Regular maintenance like landscaping, weather proofing, and updating outdated appliances also adds up. There are additional expenses related to having a septic system, a dock and boat, and out buildings. Be sure you are budgeting for total costs when considering a vacation property.

What kind of a property are you looking for?

Are you looking to have lakefront property? If so, consider the kind of lake you’re looking for. Some lakes are more recreational than others. Some are busy all day long with jet skis and water sports. Some have an abundance of fish. Some are deep; others shallow. Some are quiet and private. Are you looking for hunting land? Do you want to buy bare land that you’ll someday build on?

Talk to a Local…and Then Rent from One!

There’s just nothing quite like a local perspective. Before settling on the property you want to buy, consider a conversation with a local cabin-owner. They’ll be able to give you an inside perspective of the area and what it’s like to own vacation property there. Once you’ve done that, consider renting a cabin for a weekend or two. If possible, rent during a busier time of year. It will give you a great perspective on life in the area.

Sometimes the right realty team can be your local source as well. Just be sure you are getting the “insider” perspective and not a sales-pitch!

Down Payment Flexibility?

For many, the requirement of a downpayment is what stops them from buying the vacation property they have their eyes on. The financial hurdle seems too steep for them, and so they do not consider vacation property an option. Often times, however, this hurdle isn’t insurmountable. By finding programs like what you’ll find at Northview Bank, you’ll see that vacation property is not out of reach.

If you are in the market for vacation property, there is more to it than your monthly payments. Make sure you’re working with lending team who will look out for you at each turn and help you make the right financial moves.

Buy a Cabin with Northview Bank!

Our lending team understands the process of buying a cabin, and we’ve worked with people to make it happen in a wide range of scenarios. From financing a manufactured home to buying a cabin without a big down payment, we know what it takes to get the job done.

Contact Northview Bank today to get moving on your vacation property.