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re: If you could purchase a vacation home..

Posted on 9/13/17 at 4:45 pm to
Posted by ApexTiger
cary nc
Member since Oct 2003
53771 posts
Posted on 9/13/17 at 4:45 pm to
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

Posted by baldona
Florida
Member since Feb 2016
20442 posts
Posted on 9/13/17 at 4:47 pm to
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 by BigAppleGator
Member since Sep 2017
33 posts
Posted on 9/13/17 at 5:56 pm to
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 by kciDAtaE
Member since Apr 2017
15742 posts
Posted on 9/13/17 at 6:28 pm to
Does it have to be my vacation home? That's considerably more than my current home. I would probably move there permanently
Posted by Placebeaux
Bobby Fischer Fan Club President
Member since Jun 2008
51852 posts
Posted on 9/13/17 at 7:17 pm to
Islamorada
Posted by Tyga Woods
South Central Jupiter Island, FL
Member since Sep 2016
30054 posts
Posted on 9/13/17 at 7:48 pm to
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 by Forkbeard3777
Chicago
Member since Apr 2013
3841 posts
Posted on 9/14/17 at 9:13 am to
Cabin in the UP
This post was edited on 9/14/17 at 9:14 am
Posted by tigersownall
Thibodaux
Member since Sep 2011
15316 posts
Posted on 9/14/17 at 9:28 am to
Golden meadow
Posted by 12Pence
Member since Jan 2013
6344 posts
Posted on 9/14/17 at 9:39 am to
Santa Fe - The Land of Enchantment
Posted by notiger1997
Metairie
Member since May 2009
58122 posts
Posted on 9/14/17 at 9:48 am to
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.

Posted by DivotBreath
On the course
Member since Oct 2007
3505 posts
Posted on 9/14/17 at 9:59 am to
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 by yellowfin
Coastal Bar
Member since May 2006
97632 posts
Posted on 9/14/17 at 10:04 am to
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
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
65635 posts
Posted on 9/14/17 at 10:25 am to
quote:

Gavelston beach
This post was edited on 9/13 at 11:50 am
quote:

quote:

Gavelston
This post was edited on 9/13 at 11:50 am
Posted by Raleigh Tiger
Raleigh, NC
Member since Oct 2003
614 posts
Posted on 9/14/17 at 10:56 am to
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.
Posted by SamuelClemens
Earth
Member since Feb 2015
11727 posts
Posted on 9/14/17 at 11:01 am to
Ocho Rios Jamaica
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