Well, what do I do now? Hideout or lake house?

[JB]

Been getting antsy lately. Do less and less fishing because of the physical stress of hookng up, launching and retrieving my beloved Sunshine III. Doc tells me not to winch her on the trailer, ramp operators threaten me with fines if I power load. <br /><br />Just on a whim I started investigating lakeside properties on Possum Kingdom lake.<br /><br />POW!! I get this call from an agent for a would-be cutting horse rancher (Whitt calls itself the cutting horse capital of the world). He understands I am interested in lake property and might sell or trade The Hideout.<br /><br />He has this 2,000sf custom log home on a bluff above the lake, boathouse with power lift, all sorts of "upscale" features. Would I consider a deal to swap him The Hideout for his house and some bux?<br /><br />Haven't looked at it. He hasn't looked at The Hideout as far as I know, except maybe from the county road.<br /><br />I treasure privacy and security. There is no shortage of either here. When I have lived on water I had almost no privacy and was constantly threatened (or victimized) by thieves and vandals. I have paid terrible taxes.<br /><br />My taxes here (senior, homestead and ag exemptions) are less than $300 per year. Because my home is "manufactured", it is not taxed as real estate. . . only the 120 acres of land.<br /><br />This lake house is listed for $250K, my friend, the realtor says the Hideout would sell for $400K. I wouldn't mind at all adding about $150K to my retirement income investments.<br /><br />I am getting old, friends. The idea of walking down a ramp to my boat and dock and just dropping a crappie minnow over the side or going trolling for big stripers really appeals to me. So does not having acres and acres that demand mowing (fire break) every two weeks in season, plus other routine ranch chores.<br /><br />I feel safe and secure here (my kids worry that I will fall and can't get up ) living alone with my vicious cat, my guns, my boats, my treasured memories and my electronic link to my iboats friends.<br /><br />Don't know which way to turn. Ideas??<br /><br />Thanks.

 

[JasonJ]

Re: Well, what do I do now? Hideout or lake house?

I would check the crime and traffic levels in the area you are considering, if it is low, then you can go from there. Me, I'd rather live on the water than deal with acreage any day, and I am a hair younger than you are. Good luck...

 

[FLATHEAD]

Re: Well, what do I do now? Hideout or lake house?

Tough one Jb. <br /><br />If it aint broke dont fix it.

 

[snapperbait]

Re: Well, what do I do now? Hideout or lake house?

Both sound very nice, and I don't evny you for attempting to make that choice.. Don't know if I could.. I have a soft spot for log homes on lakes as well as large chunks of isolated real estate... Decisions, decisions!<br /><br /> I would definately give the house on the lake and the surrounding area a look-see, if for nothing else but to satisfy the curiousity you have... <br /><br />Who knows?.. Maybe the house on the lake would suit you, and the addition of a few bucks to your retirement could'nt hurt matters either.. <br /><br />If the area does'nt cut it for you, keep on looking.. There is always another house on a lake somewhere else for sale.. Might be something out there thats just right..

 

[crab bait]

Re: Well, what do I do now? Hideout or lake house?

thanks for the share ,J B.. i sometimes wonder what 'life at the hideout' is like.. wanted to ask many times.. just never did..<br /><br />first off,, what do you do.. meanin' what do you use the hideout for.. does it make you money..?? does it cost you money..?? why do you have it..?? an how did you acquiar it..?? <br /><br />thanks.. just like to know..

 

[rogerwa]

Re: Well, what do I do now? Hideout or lake house?

First off, I'm no expert, but doing the trade may allow you to 'cash out' some of the equity you've built and minimize or eliminate the capital gains on your property. Trading is often done on secondary properties to avoiid the gains on real estate sales. I beleive there is a one time $250K exemption for your primary residence. If yours is 400K you would still have a tax liability on the proceeds of the sale..<br /><br />In other words, it may be a good transaction from a tax perspective..

 

[Ross J]

Re: Well, what do I do now? Hideout or lake house?

JB, I reckon that if I was likely to fall then I'd rather it was onto land than into water!<br />Sit down one evening with your favorite drink, close your eyes and just dream about what you'd do if you had that property already. I think you'll make your mind up pretty quick.<br />Adding to your retirement fund has to be a darn good incentive.<br />Finally you will always have your friends here rooting for you. There'll always be company, as long as the cat takes the move OK.<br />Ross

 

[Andrew Leigh]

Re: Well, what do I do now? Hideout or lake house?

JB,<br /><br />lets come at this from a different perspective. For the next 5 minutes ignore the financial considerations (providing they are not disastrous) and hear me out.<br /><br />It's about quality of life .<br /><br />If your "handle" of Ancient Mariner be at all descriptive then I would have to assume that boating and fishing have been important parts of your life for an extended period. I would also assume from this and your post that you are no longer a youngster.<br /><br />The fact that you are unable to launch comfortably, go fishing as and when the whim strikes you has to be frustrating . Perhaps at retirement one is allowed self indulgence and funds permitting, to have one's want's vs. needs met.<br /><br />You can't take any of it with you, enjoy it now. You worked your life i'll bet to spend time in retirement on your boat doing a little fishing.<br /><br />Don't be like my dad who is living a frugal life so that he can give all the kids and inheritance. Practice the SKIN principle ;<br /><br />S = Spend<br />K = Kids<br />I = Inheritance<br />N = Now<br /><br />The problem with intelligent sensible individuals (yup talking about you) is that they put logic ahead emotive things. I do this on a regular basis, while my mates are out there spending money and having fun buying new auto's and boats i'm squirreling away money so that maybe one day when I retire I will also not be able to whinch in my own boat or I may not have my wife around to enjoy it or conversely I may not be around to enjoy it.<br /><br />NIKE - JUST DO IT!<br /><br />Cheers and good luck<br />Andrew<br /><br />Sound like the lecture I am busy giving myself, and have been for the past 6 months.

 

[RainMan302v8]

Re: Well, what do I do now? Hideout or lake house?

It sounds as if you have answered your own question, JB. Apparently you are nearing an age where "gentleman rancher" holds a dimininshing appeal to you. You acquire the luxury and ease of a lakeside home, you lose many acres of mowing responsibility, and you gain many dollars in a soft market.<br /><br />The question is better put thusly: Which do you prefer, ease of hunting or ease of fishing?

 

[rodbolt]

Re: Well, what do I do now? Hideout or lake house?

hello<br /> dude thats a tough one. space to keep every one away or fish on possum kindom ? wow<br /> great bass and crappie. almost as good as lake whitney. I spent many days and happy time on whitney and the brazos behind the dam.<br /> wish I was there instead of here most times.<br /> good luck with that decision.

 

[Link]

Re: Well, what do I do now? Hideout or lake house?

I can only add a little as everyone else has pretty much covered my thoughts.<br />JB<br />

Do less and less fishing because of the physical stress of hookng up, launching and retrieving my beloved Sunshine III. Doc tells me not to winch her on the trailer, ramp operators threaten me with fines if I power load. <br />

Mabe a power in/out winch would help while you are making up your mind.<br /><br />JB <br />

He has this 2,000sf custom log home on a bluff above the lake

I know you haven't looked at it yet but<br />is this a 20 foot bluff or a 200 ft bluff? If it's the latter does he have a electric trolly or do you have to walk it? <br />In 1993 I delivered a 8 foot Dingy to a person (Diamond Broker) who lived and still does on a 60 acre estate over looking the Puget Sound.. 400 feet above sea level, he had me help him carry it down 400 feet.. yea thats over 800 steps! Wasn't worth the 80 bucks I made on the sale! <br />The point is how far down to the water! <br />And how long can you make the walk?? <br />Whats your cats name? <br />Ours was Momma Cat.. lived to 17 years.. and our dogs both 120 lbs lived to 16 years... now as I remark we have our squirrels yes just rodents. fuzzey tailed RATS ... but they are so cute <br /><br />Link

 

[one more cast]

Re: Well, what do I do now? Hideout or lake house?

Tough one JB, I would love a house on a lake UNTIL I got tired of close neighbors and PWC's which would take about one week for me.Good luck to you.

 

[bubbakat]

Re: Well, what do I do now? Hideout or lake house?

JB you are in for the mental fight of your life,<br /> To give up a dream and to start another is tough one. I to have wrestled this idea for about a year now. I to have a large farm and it grows tiresome to get up on sat. morning and bush hog until the sun goes down. I am 58 and I do believe you have inspired me to make my choice.<br /> There are some good advisers here and I to practice the skin approach

 

[tylerin]

Re: Well, what do I do now? Hideout or lake house?

I would think that a power winch would solve one of your problems. 2000 sq ft is a lot of house to take care of, as is 120 acres of land. A good look at the waterfront property just might answer all your questions. I'm not sure of the friendships you have aquired where you live right now,but that would be one of the deciding factors for me. Trying to develop new friends you trust at any age isn't easy. I hope that when I'm your age I'm faced with such dilemas. Consider yourself lucky JB. I would say to myself as I become less and less capable of getting around, "what window would I prefer to look out of". I know you'll make the right decisions and look forward to hearing about what you do. Good Luck JB, whatever you decide

 

[mellowyellow]

Re: Well, what do I do now? Hideout or lake house?

JB, life's short... I would go for it!<br />good luck,<br />M.Y.

 

[JB]

Re: Well, what do I do now? Hideout or lake house?

Andrew, you rang a bell. "Quality of life" is more important than all other considerations combined.<br /><br />I am not hurting for bux. Not because I have a lot, but because I have learned how to live happily on the small income I have. That took a lot of expensive learning. That is one essential for a quality life.<br /><br />I feel secure and safe. Freedom from anxiety is another essential.<br /><br />The Hideout offers me privacy, freedoms and liberties not available to town or city dwellers, not to mention "neighborhood associations" that tell you what color you can paint your garage and how big a flag you can fly. Those are a big part of the quality of my life. <br /><br />I have been here 14 years and am finally accepted as a neighbor, rather than a newcomer, by my down-to-earth country folk friends.<br /><br />Now I have to look at what quality of life benefits I would gain in return for giving those things up, or what additional QOL concerns I would have to give up.<br /><br />I gotta go look (without an agent), talk to the neighbors, etc. I know I would not be happy on the south end of the lake. . .PWCs, skiers, snooty rich neighbors, etc., but this is on the north end. Might be a neighborhood of mature fisherpeople.<br /><br />Money will not be an issue. Quality of life will prevail.<br /><br />I will give you a report.<br /><br />Thanks for all of your input, friends.

 

[mellowyellow]

Re: Well, what do I do now? Hideout or lake house?

afterthought JB. maybe he will allow you a 1yr.<br />lease on the lakefront. this way you can see how<br />you like it before you sell the farm.

 

[11 footer]

Re: Well, what do I do now? Hideout or lake house?

I think thats a great idea, mellowyellow .<br /><br />After spending a year at the lakehouse it will become very clear weather its JB's kind of a place or not. It may not even take that long, a few mounths would do.

 

[LadyFish]

Re: Well, what do I do now? Hideout or lake house?

JB, another thing to consider is your health down the road. How close will family be from the lakehouse?<br /><br />About 10 years ago my Dad moved to Tenessee where he has no family. None of us kids has been able to be with him during his hospital visits or care for him when he has taken ill.<br /><br />Family and close friends are vital to our quality of life.

 

[jerzshaw]

Re: Well, what do I do now? Hideout or lake house?

Having grown up in Brooklyn, My parents had bought a plot and built a home in St Augustine Beach in Florida in 1995. They both loved it so much at first. By 2003 My dad loved it most of the time and my mom couldnt wait to get back to her kids and grandkids in the northeast.<br /><br />They sold the place this past summer, and are back up North. I guess what I am getting at is where will your children and grandkids most likely hang with you more? Is this as big a considersation for you as it was for my parents? Texans are a different breed, and I can't say I would understand the beautiful life of a big ranch and big sky. You would know those tradeoffs I am sure. It seems to me however that I have seen a picture or two of you and your grandkids fishing etc..... Y'all looked happy