Minnesotans love their cabins – but they also have plenty of good reasons to sell them. Maybe you’re relocating to a state with flamingoes or cactuses. Maybe your kids have grown up and you no longer feel like making the long trek up north every summer. Or maybe you just need the money. (Who doesn’t, these days?)
If you have decided to sell your cabin in Otter Tail County, Minnesota or the wide surrounding area, now is a great time to do so. Here are four reasons why!
Minnesota Property Taxes Are Increasing
Property values are skyrocketing across the country – and Minnesota is no exception. Residential property values have recently risen by about 20% in our state, and property taxes are expected to increase by 4.5% in 2022 alone. And because summer cabins cannot qualify as homestead residences, their owners do not have the option of reducing their property taxes by approximately 7%.
If you’re not using your cabin frequently enough to justify spending so much more money on its property taxes, then why not let those taxes become someone else’s problem instead?
Summer Is Just Around the Corner
People who are shopping for cabins in the Minnesota Lakes Area really want to close before the summer arrives. And who can blame them for wanting to enjoy every weekend by the lake that they’re able? That makes late spring the most popular time of year to buy a cabin – and you’re poised to take full advantage of such a hot market.
People who list cabins and houses for sale in the spring don’t just benefit from a large pool of available buyers and short market times. They also have more time to prepare their properties for the market. A little landscaping and few light repairs can both have a great impact on a cabin’s market value, and you’ll have an easier time staging your cabin by giving yourself a headstart. Listing your cabin now will also give you ample time to move all of your furniture out!
Curb Appeal Is Better During Spring
Any cabin is bound to look far more appealing once all the snow has melted and nearby lakes have completely thawed. Motivated buyers will be more inspired to make offers when they see the trees and flowers surrounding a cabin about to enter full bloom. Spring’s agreeable weather also makes it easier for buyers to take day trips out to properties they’re interested in touring. Moving is much easier this time of year, too!
Cabin Prices Are Higher During May
Higher demand means only one thing: higher market prices. According to The Mortgage Reports, Americans who sell their homes in May receive an average of 5.9% more money at closing over other months. People who list their cabins for sale during spring witness similar benefits. Getting more money never hurt anyone!
Are you ready to get the best price for your cabin that the market has to offer? Then we welcome you to contact Boll Realty today! With nearly 50 years of experience serving sellers and buyers throughout beautiful Otter Tail County, Minnesota, we’re your best solution for selling your home, cabin, hunting land or farmland quickly and for a great price.