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re: If you could purchase a vacation home..
Posted on 9/13/17 at 4:45 pm to Tyga Woods
Posted on 9/13/17 at 4:45 pm to Tyga Woods
Ocean or Mountains which is your happy place?
2nd, where do you live?
has to be a place you will use... If it's too far away, then it will just be a hassle and perhaps a financial burden
2nd, where do you live?
has to be a place you will use... If it's too far away, then it will just be a hassle and perhaps a financial burden
Posted on 9/13/17 at 4:47 pm to Tigahs24Seven
quote:
It's not the buying that is the issue, it is the taxes, insurance and upkeep with nobody around. It's never fun to show up after 2 months and find out something has been leaking the whole time, or the fridge stopped 4 weeks ago. Take that 500k, I vest it and rent what you want whenever you want to go. Much less hassle. I know of what I speak
This. I know what the OP is saying, but a $500k vacation home is going to cost $20-30k if not $50k a year in maintenance costs. You have landscaping, utilities, property taxes, insurance, etc. if you can't rent it out, you are way better off investing the $500k and spending $30-50k a year on vacations from the income.
Also, I would never own a vacation home over 5 hours away or without have a direct flight. Multiple flights or a long drive is too much of a pita to me to go routinely and relax.
Posted on 9/13/17 at 5:56 pm to Tyga Woods
Have to put it at a million and the answer would be Scottsdale AZ. Nine months out of the year just chilling at the pool amongst the Saguaros.
Posted on 9/13/17 at 6:28 pm to Tyga Woods
Does it have to be my vacation home? That's considerably more than my current home. I would probably move there permanently
Posted on 9/13/17 at 7:48 pm to ApexTiger
quote:
Ocean or Mountains which is your happy place?
Both....lol
quote:
2nd, where do you live?
Shreveport area
I don't disagree with the posters that have suggested taking several great vacations per year instead of purchasing a second home. I get where they're coming from
I'm fortunate enough to be able to travel pretty much whenever I want...but can't relocate because my business is in Louisiana and my kids are in high school. The second home would probably get 40-60 days of use per year and I would let family and close friends use it as well. Not looking for income off of it but would like something that will appreciate over time.
This post was edited on 9/13/17 at 7:49 pm
Posted on 9/14/17 at 9:13 am to Tyga Woods
Cabin in the UP
This post was edited on 9/14/17 at 9:14 am
Posted on 9/14/17 at 9:39 am to tigersownall
Santa Fe - The Land of Enchantment
Posted on 9/14/17 at 9:48 am to Tyga Woods
I know I will never be OT baller rich so I'm thinking something between $400-$500k will be about what I spend on my retirement place.
Thinking about getting the most bang for my buck and doing a place on the back bay near Orange Beach, near Fairhope, or Bay St Louis.
Thinking about getting the most bang for my buck and doing a place on the back bay near Orange Beach, near Fairhope, or Bay St Louis.
Posted on 9/14/17 at 9:59 am to Tyga Woods
Summer home near Traverse City, Michigan. They have an abundance of great golf courses within a short drive and the outdoor activities are almost unlimited in that area. Great summer weather but unlikely to visit during the winter.
Posted on 9/14/17 at 10:04 am to Tyga Woods
I wouldn't purchase one. Maintaining two households isn't fun.
Unless I was retired and lived there multiple months a year then probably south Florida
Unless I was retired and lived there multiple months a year then probably south Florida
Posted on 9/14/17 at 10:25 am to GreatLakesTiger24
quote:
Gavelston beach
This post was edited on 9/13 at 11:50 am
quote:quote:This post was edited on 9/13 at 11:50 am
Gavelston
Posted on 9/14/17 at 10:56 am to Tyga Woods
500k for a decent vacation home really isn't much. A condo at Phoenix West II at Orange Beach costs more than that. Plus the monthly condo fee is over $800.
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