Wisconsin Resorts For Sale
As of March 1, 2024 there are 19 active Wisconsin Resorts lake property listings for sale with an average listing price of $1,582,037. The highest-priced waterfront listing is $5,200,000, while the lowest priced waterfront listing can be purchased for $435,000. Wisconsin Resorts lakeshore listings have an average price of $412 per square foot, based on listings with an average of 14.5 bedrooms, 9.3 bathrooms, and 1,633 square feet of living space.
Wisconsin Resorts For Sale
Tired of the daily grind and longing for a dramatic change? Have you ever dreamed of the possibility of owning your very own Wisconsin resort property? Many people have found happiness by leaving their traditional day jobs and embarking on the amazing journey of owning their very own WI resort. Living in nature, making your own decisions, meeting thousands of new, interesting folks over the years; what could be better? For many, purchasing a resort provides a new lease on life away from the constant pressures of our modern world. Contact LakePlace.com's Wisconsin resort sales division today and let us be your guide on this exciting journey.
The Encarta English Dictionary defines a resort as a, "vacation place; a place that is popular for recreation and vacations and provides accommodations and entertainment." From luxurious, multi-acre properties with five-star restaurants and spa facilities for romantic getaways to comfortable RV campgrounds with miniature golf courses and video arcades perfect for family vacations - Wisconsin resorts, campgrounds and rv parks come in all sorts of shapes and sizes. Most everyone on one occasion or another has had the opportunity to visit a resort property. While most of us have spent some treasured vacation time at a resort, others have been fortunate enough to have had the experience of owning and operating their very own piece of resort property. Certain locations, such as Minnesota and Wisconsin, have resort properties which are cost prohibitive to the average real estate investor. Other locations are lacking in interesting activities and attractions worthy of drawing in enough visitors sufficient to maintain a steady level of income. Location is of key importance and there are few better places to operate a resort property than the great state of Wisconsin. With thousands of acres of pristine forests, clear lakes, great family attractions and welcoming Midwestern charm, Wisconsin offers abundant opportunity to folks looking to purchase their own resort or RV campground property. If you have ever dreamed of the possibilities offered by owning your own resort, below are a few important considerations when beginning your quest for the perfect property:
Location, Location, Location
The golden rule of real estate is to first and foremost consider the location of the property you are looking to purchase. What sort of attractions are in the local area? Are there restaurants and shopping establishments in the vicinity for the convenience of your future guests? How accessible are local towns and communities? Many people come to Wisconsin to experience the beauty of the natural world; to immerse themselves in the forests and lakes of this breath-taking wilderness. When looking at resort property options, it can be important to consider how accessible such lakes, boat docks, trails and outdoor recreational opportunities are from the property. It can also be a good idea to spend an extended period of time in the area yourself so that you can be familiar with the area attractions and hotspots. It will be well worth it to spend some time objectively observing the area's flaw and advantages prior to moving forward with any major real estate purchase.
If you are considering buying a resort in Wisconsin, take a look at areas known for their tourism and resort properties. Purchase a resort in a desirable locale such as the greater Hayward or Spooner areas and you are sure to have plenty of traffic during the high-tourism seasons of late spring, summer and early fall. Other, more remote areas, may be desirable for some travelers; however, you may want to consider making an out-of-the-way resort incredibly unique in order to attract visitors to such a distant venue. Note: Wisconsin has many desireable resort areas - contact LakePlace.com's Wisconsin resort sales division to get an up to date list of all current WI resorts for sale.
Constructing a Resort vs. Purchasing a Pre-Existing Resort Property
When embarking on a journey of establishing and operating your own resort, one of the first decisions to be made is whether you will seek to purchase a pre-existing resort property from its current owner or whether you will purchase a tract of land and construct your own resort there. Prime pieces of Wisconsin land without current resorts or construction on them can be few and far between; however, if you find the perfect spot and have sufficient capital investment, building your own resort property from scratch allows you to shape the resort according to your own vision without constraints.
That being said, pre-existing resorts can be excellent buys as well. Whether the property offers hotel style accommodations, cabins for rent or RV campground facilities, existing resort properties can be molded and developed into unique and desirable locations with a little creativity. Or, you may be lucky enough to find a pre-existing resort which has been operating successfully for a number of years, which will help ensure plenty of visitors during your first early years of operation.
Whether you are looking to take-over an existing resort or construct your own from the ground up, it is important to consider the income and revenues of the resorts in the surrounding area to determine how much money you can feasibly dedicate to the project and still expect to gain a decent return on your investment. When purchasing a pre-existing, operational resort, be sure to have a qualified business appraiser give an estimate of the property's value and future earning potential based on historic earnings and expenses. If you are building your own resort from scratch, resorts of similar size and type in the vicinity (or similar locations) can help give you an idea of the earning potential of your investment. What type of operating expenses can you expect? Do you need to maintain a staff to welcome your guests? These are all important issues to evaluate.
When purchasing a resort property in a venue such as Wisconsin, it is also important to consider the variations in revenue you might expect as the seasons change. While winter is actually a lovely time to visit the Northwoods, it is also much less populated than the warmer months of summer. This trending causes obvious drops in income for resort owners during the winter season. With proper planning, these income variations can be anticipated and adapted to by owners and operators of resort properties.
Bringing Your Vision to Life
Owning a resort can be a thrilling career full of rewards, daily satisfaction and financial security. It can also be stressful, especially for the first several years of operation when revenues are much more likely to be unpredictable. Purchasing and operating a resort certainly isn't something you approach half-heartedly just to see how it goes. Successful resort owners are passionate about their resorts. They are dedicated to providing welcoming relaxation for travelers year after year. When contemplating the possibility of quitting your day job to buy and operate a resort, think long and hard about whether you are truly comfortable with the decision. If the answer is a resounding 'yes,' brainstorm about ways that you can make your resort property truly unique and special for visitors. Hospitality is crucial in the resort industry. With a resort property, great amenities, welcoming guest service, a beautiful setting and a little luck will keep travelers coming back to enjoy your resort. Whether you choose to focus on eco-tourism, luxury or a family atmosphere, carefully plan out your vision for the resort property and stick to it. And don't forget to plan carefully to make sure that you have the capital and funds to finance any planned upgrades to the resort property.
The Condition of the Resort Property
While pre-existing resorts can be a great choice for those looking to enter the resort market, there can also be a lot of hidden costs when assuming such a business. Know exactly what you are getting into when you make the commitment to purchase a resort property. Buildings on the property can require extensive maintenance. Guest rooms and cabins require periodic updates to keep up the levels of comfort guests have come to expect. Adding additional services such as wireless internet may be necessary to meet the expectations of today's traveler. Zoning restrictions can inhibit future growth prospects, which can be another important issue to investigate before embarking on the process of purchasing a resort. Prior to committing yourself to owning and operating a resort, make sure a licensed, bonded and insured property inspector gives the property a thorough going-over. Even though such inspections can be expensive for larger properties, they are essential to help protect buyers from thousands of dollars of hidden maintenance and upgrade charges in the future.
Another hidden operating charge can be the cost of insuring against catastrophic events or injuries on the property. With lakes, boating activities, pools and spas, the costs of such insurance can be much higher than properties without such resort-style amenities. Make sure you have a thorough understanding of the costs you will incur in order to properly insure yourself against potential liability.
Before making any decisions about property purchases, it is important to consult with your financial, real estate and legal professionals. They will have insight into the process and comments about the viability of your goals that may be unapparent to those unfamiliar with your particular situation. If buying a Wisconsin resort is a feasible project for you, but you have no idea where to start, be sure to check out some of the wonderful resort properties available in Wisconsin. Wild, beautiful and relaxing with a relatively low cost of living, Wisconsin is the perfect spot to establish your very own retreat for travelers here in the Northwoods. Resorts here vary from luxurious, romantic retreats to family-style RV campgrounds, perfect for sitting around a fire under the Wisconsin stars. If you have always longed for the independence to make your own decisions without the constant grind and pressures of modern life, look no further than the fabulous resort properties of the Northwoods. Contact LakePlace.com's Wisconsin resort sales division today!
Buying a resort in Wisconsin can be an exciting opportunity for those looking to invest in the tourism industry. Wisconsin is known for its beautiful lakes and scenic landscapes, making it a popular vacation destination for families and outdoor enthusiasts. However, it is also worth considering purchasing a resort in Minnesota, another state known for its natural beauty and abundance of lakes. Minnesota is home to over 10,000 lakes and has a thriving tourism industry, making it a great option for those looking to own a resort. Whether you choose to invest in a Wisconsin resort or include Minnesota resorts for sale in your search, it is important to carefully research the market and assess the potential risks and rewards before making a purchase.