re: Vacation properties as investments

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BIL purchased a condo in July, 2004 about 45 days before IVAN. Almost nine years later the ASKING price per square foot in the same development and on the same floor with the same view is about 40% of his cost. Very few, if any are actually selling at a even lower price. Monthly condo fees will eat you alive and if you do have a storm with damage the assessments for the deductable are large. BIL paid two assessments after IVAN, one for 25k and six months later one for 20k. Condo was not usable for 2 years, monthly payments continued and monthly condo fees continued.

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