Every year, sisters Pamela and Debra Hovland look forward to their family's summer get-together at a Minnesota lake.
"We've all made the commitment to spend holidays and summer together," said Pamela, who lives in Connecticut. "Our family is a strong unit."
Back in the 1980s, they usually rented a cabin. But as the family expanded and the number of family-owned resorts dwindled, finding the right rental wasn't easy.
"Our group was growing, and it started to become harder to find a place to accommodate everybody," said Pamela.
So in 1990, the sisters decided to buy a cabin.
The timing wasn't ideal. Both were in their 20s and preparing to start graduate school, a master's degree for Pamela, a graphic designer, and a law degree for Debra, an attorney who lives in Minneapolis.
"We were both facing yet more student loan debt, but for some reason we decided to go real estate shopping," Pamela recalled.
They found a place near Pelican Rapids, Minn., where they had grown up on a dairy farm, and made an offer on a 700-square-foot cabin. It had a rare double lot, was across from a state park and on a lake the sisters knew — South Lake Lida, which was just a mile from their father's childhood home and one of his favorite fishing spots.