I've been randomly dreaming of potential homes and holiday homes as we aim to live in an ever increasing self sufficient lifestyle. A part of our lifestyle that we wouldn't want to give up is our holidays.
But it got me thinking, what if our holiday could be part of our semi self sufficient lifestyle? For example, what if we could have a log cabin on a private island?
One property that I found wouldn't suit us now but does show that it would be possible. For someone living in the Chicagoland area, or realistically most of northern Illinois, a 5 acre island in the Rock River is currently for sale!
I figure with a property like this, only around one and a half hours drive from Chicago, you could visit on a monthly basis especially during summer. The property would add value in a number of different ways:
Recreation: Five acres of mostly wooded property for short walks, canoeing/boating on the river, swimming (?), camping, fishing, a golf course across the highway, rest and relaxation, TV (well, there is a satellite dish, so it is a potential activity!).
Food: While it wouldn't be worthwhile growing vegetables that would need regular attendance, potentially you could grow a small orchard. Then during the summer visits, you could be taking fruit and produce "back home" to your permanent residence.
Fuel: Given that it is 5 acres in size, there are probably a few fallen trees and branches that could be used for a wood fired stove, pizza oven or campfire. Just remember to ensure you're replacing cut wood at a faster rate than you are cutting!
Income: I am sure that with the right connections you could rent this property out short term to other city residents wanting a break. It might only be a couple of hundred dollars for a weekend, but June, July and August you could rent out the island say 9 times (taking into account your own personal use) at peak rates (summertime), another 10-15 times during spring and autumn, and maybe 5-6 in winter. Hypothetically 30 weekends over the course of the year (you still get 22 weekends, plus numerous mid-week opportunities), could bring in around $6,000 each year. Not a reliable source of income in itself, but certainly would offset the holding costs such as interest and taxes.
Then all the produce and recreation is "free" to you!
That's the dream anyway.
Saturday, November 24, 2012
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