We did it...No, not FIRE, a Log Cabin!

[kaudrey]

If you read the "second" home thread that was around a little while ago, you may have seen that we were looking at log cabins in WV (we live in DC).

A little background...I have recently come to the conclusion that, although I had wanted to FIRE at 52, it would be stupid to FIRE before I am eligible for my FEHB benefits (fed health bennies). That won't be until I am 56 years, 10 months (I am 41 now).

The numbers looked OK at 52, but having to pay for 13 years of health benefits myself would be such a HUGE unknown at this point, that I am not comfortable with it.

So, the next realization was that if I w*rk that extra 5 years or so, my portfolio is projected to be a lot bigger (obviously), my health care expenses will be much lower, and I will likely have more money than I can imagine needing, realistically.

So, my secondary dream of owning a place in the mountains became a possibility now instead of a much more distant retirement dream (as I am not feeling the need to save 35% of my income as I have been for the past 5 or so years). I will still max out my 401K and save some additional money, but I feel freer to chase this dream.

We close at the end of the month. I am very excited! Here is a pic:

 

[Purron]

It's beautiful! I live in the DC area too and understand the attraction. Enjoy

 

[Meadbh]

Congratulations! It looks beautiful. And hopefully getting away to "the cabin" will reduce your stress so much that w*rk will be more bearable.

 

[Moemg]

Congratulations ! It looks like a great place !

 

[JOHNNIE36]

What a beautiful home in a beautiful spot. I can visualize a couple of those rockers on the front porch. You know, those from the Cracker Barrel.

 

[donheff]

Nice place. We live in DC and bought a weekend place in the Northern Neck 18 years ago. It was nice having a getaway on the water. 56 is still a pretty early retirement by my lights - that is when I pulled the plug.

 

[Sea Kayaker]

I'm looking to build a cabin on 5 acres of property here on the B.C. coast... if it looked anywhere as nice as yours I would be very happy. Our favorite building site also has a sloping aspect to it, perfect for a walkout basement, like the one in your photo. Absolutely beautiful place, congrats.

 

[HFWR]

Party on the patio!

 

[Westernskies]

Congratulations! It look great; can't wait to see more pictures after you take possession.

Good thing you disregarded a lot of the naysayers on this thread:

http://www.early-retirement.org/forums/f46/a-second-vacation-home-a-good-thing-47423.html

 

[kaudrey]

Thanks everyone. For those who know the area a bit, the cabin is in Berkeley Springs, WV, (northeast, near the point where it borders MD and VA) a cute town with some nice restaurants and Cacapon State Park nearby for hiking, swimming, and a Robert Trent Jones 18-hole golf course. We really like the area.

The "cabin" is bigger than we were originally looking, but the price was right. Now we just have to get some furniture! Yep - rockers for the deck are a must! And, of course, a hot tub.

Sea kayaker - sounds great! The walkout basement is unfinished right now. We want to turn part of it into another bedroom (it has the plumbing to put in a bathroom), and then the rest into a play room (small bar, pool table). Luckily, my guy is handy, and we plan to do most of the work ourselves.

We go away a lot on weekends now - hiking/camping etc...so now we'll just have a permanent base to do our outdoor activities.

Meadbh - thanks. I am one of those people who actually likes her j*b! But, I like getting away on a regular basis as well.

Thanks everyone for the well wishes! Here's a picture of the inside from the stairs (furniture is the current owners', of course). You can see the living area, part of the kitchen, and the bottom of the loft:

http://javascript<b></b>:IV_Move('Popup', 13);

 

[Walt34]

Very nice! You're gonna love WV, and not having to plan your life around traffic.

 

[Purron]

Berkeley Springs is a lovely area. I've been there many times. You're right about the town - nice restaurants and shops. Plus it's not too bad of a drive from where you are in Alexandria.

 

[kaudrey]

Thanks. Purron, one of our criteria was to be 2 hours or less from home. It's about 1 hour 45 minutes. And I love that the "getaway" does not entail fighting Bay Bridge traffic all summer.

 

[DeborahB]

Looks great - congratulations!

 

[FreeAsTheBreeze]

It truly looks like a dream come true! Congrats and enjoy.

 

[Milton]

Congratulations on your new cabin!

I haven't read the other thread, but suspect that many people indicate that a second home makes little or no economic sense. I share that view. However, there is more to life than money, and you don't want to be the richest person in the graveyard.

I had wanted to FIRE at 52, it would be stupid to FIRE before I am eligible for my FEHB benefits (fed health bennies). That won't be until I am 56 years, 10 months (I am 41 now).

The numbers looked OK at 52, but having to pay for 13 years of health benefits myself would be such a HUGE unknown at this point, that I am not comfortable with it.

I know that health care has in the past prevented some Americans from taking early retirement; but wouldn't the new legislation significantly alleviate such concerns?

 

[FreeAt30]

Congrats. It's incredible. What a beauty! I equally like the thinking behind going for it too. Well done.

 

[LOL!]

Do-It-Yourself Downsizing: How To Build A Tiny House : NPR

is another recent story on "log" cabins that you might enjoy.