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Dream retirement housing split
Posted on 8/6/18 at 10:24 pm
Posted on 8/6/18 at 10:24 pm
Daydreaming of planning for retirement. Hope is to buy a condo near the beach for winter months and summer in the mountains. What would your recommended pairing be?
I.e. Park City and Destin. Asheville and Siesta Key.
Love to hear some favored combos!
I.e. Park City and Destin. Asheville and Siesta Key.
Love to hear some favored combos!
21
Posted on 8/6/18 at 10:26 pm to igoringa
Rent them out when not in use
Profit
Profit
Posted on 8/6/18 at 10:28 pm to igoringa
Telluride or Beaver Creek and Seaside
Posted on 8/6/18 at 10:28 pm to igoringa
My dad lives in Bozeman during the summer now. His winter retreat is BR but he has 9 grandchildren here. Otherwise, he'd likely be somewhere else.
Posted on 8/6/18 at 10:28 pm to pioneerbasketball
quote:
Rent them out when not in use
Profit
Your plan has a fatal flaw. You are going to want to be using the houses in the locale when they are at their most desirable. Ain’t nobody wanting them in the off season.
Posted on 8/6/18 at 10:30 pm to igoringa
Branson MO
Grand Isle LA
Grand Isle LA
Posted on 8/6/18 at 10:30 pm to igoringa
Not buy vacation homes and just rent them from other folks so I'm not stuck going to the same place all the time.
Posted on 8/6/18 at 10:31 pm to jbgleason
Santa Fe
Grayton
Grayton
Posted on 8/6/18 at 10:32 pm to fallguy_1978
That’s awesome
Did you get to visit him this summer
Did you get to visit him this summer
Posted on 8/6/18 at 10:39 pm to jbgleason
quote:
Your plan has a fatal flaw. You are going to want to be using the houses in the locale when they are at their most desirable. Ain’t nobody wanting them in the off season.
By doing mountains in summer it leaves ski season in winter to rent. We are hikers. Summer we would rent the beach.
As for Teddy’s rental plan - agree probably makes a lot of sense except I plan to have a pack of marauding bulldogs and they are rental blockers :). Bit even if rent - the point is the same - a six month split
Posted on 8/6/18 at 10:42 pm to igoringa
Baton Rouge and St George
Posted on 8/6/18 at 10:43 pm to igoringa
I will be in Jupiter Fl. Condo purchased With cash and then personally renovated 8 years ago Summers in the Greenville Sc area . Home will be purchased (small home) when I retire
This post was edited on 8/6/18 at 10:45 pm
Posted on 8/6/18 at 10:49 pm to ellishughtiger
quote:
That’s awesome
Did you get to visit him this summer
Unfortunately not this year. He has a house in Bozeman now and we are considering doing Thanksgiving there this year.
Posted on 8/6/18 at 11:47 pm to igoringa
I know someone that split time between NO, Destin, and Beaver Creek. After a few years, they just stopped leaving BC. They got the place in the mountains for skiing but said summer was the best season.
This post was edited on 8/6/18 at 11:48 pm
Posted on 8/6/18 at 11:48 pm to igoringa
Summers in Driggs, ID and winters in Kerrville, TX.
Posted on 8/7/18 at 12:17 am to igoringa
Dude, you could make serious bank renting a place in Park City through ski season.
I found a few acres around there and I think I have Mrs Wartiger on board to acquire. Longterm plan to build a cabin.
Destin, you know summer will produce.
I like this plan
I found a few acres around there and I think I have Mrs Wartiger on board to acquire. Longterm plan to build a cabin.
Destin, you know summer will produce.
I like this plan
Posted on 8/7/18 at 5:01 am to igoringa
RV
Posted on 8/7/18 at 5:11 am to Armymann50
1. Move to San Diego in the next 5 years
2. Retire in the next 25 years
3. Second house in Lake Tahoe or Bozeman
4. Three weeks in second home in winter for skiing, three weeks in second home in summer for hiking. The rest, profit
2. Retire in the next 25 years
3. Second house in Lake Tahoe or Bozeman
4. Three weeks in second home in winter for skiing, three weeks in second home in summer for hiking. The rest, profit
Posted on 8/7/18 at 5:47 am to FootballNostradamus
My father in law has about a perfect combo:
Primary on large lake in central TN
Ski in/ out in Jackson hole
Beachfront condo in So Wal
Personally, I wouldn't get a 3rd property unless you have a history of being there a lot. I'd get one place to "winter" or summer, and then live by your friends and family. Try as you may, vacation homes you simply don't have a local network really.
Another thing to consider is travel time/ expense. It adds up over time. Also, as said I wouldn't be tied down to more than one vacation place.
If you truly use vacation properties in the off season and rent them out, you can get 4-5% returns when owned outright. So they are not horrible investments. But, most people don't use them to maximize their returns.
Primary on large lake in central TN
Ski in/ out in Jackson hole
Beachfront condo in So Wal
Personally, I wouldn't get a 3rd property unless you have a history of being there a lot. I'd get one place to "winter" or summer, and then live by your friends and family. Try as you may, vacation homes you simply don't have a local network really.
Another thing to consider is travel time/ expense. It adds up over time. Also, as said I wouldn't be tied down to more than one vacation place.
If you truly use vacation properties in the off season and rent them out, you can get 4-5% returns when owned outright. So they are not horrible investments. But, most people don't use them to maximize their returns.
Posted on 8/7/18 at 6:27 am to fallguy_1978
My parents are in Alaska from early May to late September. They come back to BR in time for him to get the hunting camp ready. And then he is off to north LA to hunt.
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