Should I buy a beach vacation home?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd love to hear the specific places people have beach houses they love! Where are you all buying these houses?

Excellent idea - we can map out how many years until those locations are uninsurable!

Ocean pines, Md

How many years do I have?

https://riskfinder.climatecentral.org/place/ocean-pines.md.us?comparisonType=place&forecastType=NOAA2017_int_p50&level=5&unit=ft

Whew I’m in the gray area.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here - you're all right, from a pure money standpoint, I should not buy one. But my spouse has recently declared that they don't want to leave our suburban DC life full-time in retirement because they like urban amenities, so a 2nd home is looking like a good option. Mountains are nice but boring for me. Not buying in Florida.

This is exactly the reason we looked, the conclusion we came to, and my view about living in the mountains. My brother has a mountain place (not ski area) and we have a beach house with access to clubs. Guess where family always wants to congregate?

Access to clubs?? No thanks.

We have a beautiful second home on 8 acres with a large pool less than 2 hours from the city where we live. It's about a 15 minute walk to the main street of a very charming small historic town. The beauty of where it is is it's not seasonal. The beach towns in the NE become ghost towns in the winter. Here all that changes is the weather.

The last thing we'd want to do is go to "clubs," but even if we did the "clubs" in the NE aren't open 8 months out of the year.

Yeah you want to go to an unsustainable economic disaster… you want life to be one way, but it’s the other. Your big beach ideas aren’t realistic for more than 10 years. Start getting used to better ideas.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd love to hear the specific places people have beach houses they love! Where are you all buying these houses?

Excellent idea - we can map out how many years until those locations are uninsurable!

Ocean pines, Md

How many years do I have?

https://riskfinder.climatecentral.org/place/ocean-pines.md.us?comparisonType=place&forecastType=NOAA2017_int_p50&level=5&unit=ft

Whew I’m in the gray area.

So just big spikes in premiums.

[Anonymous]

Only if you have young kids, making memories etc...otherwise, I don't think so!

[Anonymous]

Anonymous wrote:Only if you have young kids, making memories etc...otherwise, I don't think so!

They’ll always remember you losing the house in a storm and filing a lawsuit against the federal govenemnet for reimbursement that doesn’t come.

[Anonymous]

We have a beach house at DE beaches and love it. We rent it out in the summers and just block out days or weeks we want to go down. The income pays for the mortgage and most of the maintenance.

We use it year round as a weekend getaway and especially like the spring and fall for that. We don’t vacation there and go elsewhere.

The value has more than doubled since we bought 9 years ago. But no plans to sell. The family time and memories down there are what is priceless to us. Sure, maybe if we had invested the down payment in the market, we might have made more money but the memories and family time is more important to us. Besides, we are already well diversified in stocks, crypto, and own a few other real estate investments that we rent out full time.

So we have not found our beach house to be a money pit and it has worked out well. Lastly, we plan on holding for a long time to continue making more family memories there. We are not near oceanfront to worry about climate change. But if we do lose the house in 50 years for whatever reason, so be it. We can afford the lost. But we cannot afford not having those priceless family time.

No regrets and so happy we bought the beach house.

[Anonymous]

Anonymous wrote:We have a beach house at DE beaches and love it. We rent it out in the summers and just block out days or weeks we want to go down. The income pays for the mortgage and most of the maintenance.

We use it year round as a weekend getaway and especially like the spring and fall for that. We don’t vacation there and go elsewhere.

The value has more than doubled since we bought 9 years ago. But no plans to sell. The family time and memories down there are what is priceless to us. Sure, maybe if we had invested the down payment in the market, we might have made more money but the memories and family time is more important to us. Besides, we are already well diversified in stocks, crypto, and own a few other real estate investments that we rent out full time.

So we have not found our beach house to be a money pit and it has worked out well. Lastly, we plan on holding for a long time to continue making more family memories there. We are not near oceanfront to worry about climate change. But if we do lose the house in 50 years for whatever reason, so be it. We can afford the lost. But we cannot afford not having those priceless family time.

No regrets and so happy we bought the beach house.

Yawn. Not near oceanfront? Why bother.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We have a beach house at DE beaches and love it. We rent it out in the summers and just block out days or weeks we want to go down. The income pays for the mortgage and most of the maintenance.

We use it year round as a weekend getaway and especially like the spring and fall for that. We don’t vacation there and go elsewhere.

The value has more than doubled since we bought 9 years ago. But no plans to sell. The family time and memories down there are what is priceless to us. Sure, maybe if we had invested the down payment in the market, we might have made more money but the memories and family time is more important to us. Besides, we are already well diversified in stocks, crypto, and own a few other real estate investments that we rent out full time.

So we have not found our beach house to be a money pit and it has worked out well. Lastly, we plan on holding for a long time to continue making more family memories there. We are not near oceanfront to worry about climate change. But if we do lose the house in 50 years for whatever reason, so be it. We can afford the lost. But we cannot afford not having those priceless family time.

No regrets and so happy we bought the beach house.

Yawn. Not near oceanfront? Why bother.

Let me guess, you’re the same troll droning on and on about vacation homes washing away in floods…

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We have a beach house at DE beaches and love it. We rent it out in the summers and just block out days or weeks we want to go down. The income pays for the mortgage and most of the maintenance.

We use it year round as a weekend getaway and especially like the spring and fall for that. We don’t vacation there and go elsewhere.

The value has more than doubled since we bought 9 years ago. But no plans to sell. The family time and memories down there are what is priceless to us. Sure, maybe if we had invested the down payment in the market, we might have made more money but the memories and family time is more important to us. Besides, we are already well diversified in stocks, crypto, and own a few other real estate investments that we rent out full time.

So we have not found our beach house to be a money pit and it has worked out well. Lastly, we plan on holding for a long time to continue making more family memories there. We are not near oceanfront to worry about climate change. But if we do lose the house in 50 years for whatever reason, so be it. We can afford the lost. But we cannot afford not having those priceless family time.

No regrets and so happy we bought the beach house.

Yawn. Not near oceanfront? Why bother.

Let me guess, you’re the same troll droning on and on about vacation homes washing away in floods…

Nope. Different poster. I just don't get the appeal of a beach house where you can't even see the ocean from your house.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We have a beach house at DE beaches and love it. We rent it out in the summers and just block out days or weeks we want to go down. The income pays for the mortgage and most of the maintenance.

We use it year round as a weekend getaway and especially like the spring and fall for that. We don’t vacation there and go elsewhere.

The value has more than doubled since we bought 9 years ago. But no plans to sell. The family time and memories down there are what is priceless to us. Sure, maybe if we had invested the down payment in the market, we might have made more money but the memories and family time is more important to us. Besides, we are already well diversified in stocks, crypto, and own a few other real estate investments that we rent out full time.

So we have not found our beach house to be a money pit and it has worked out well. Lastly, we plan on holding for a long time to continue making more family memories there. We are not near oceanfront to worry about climate change. But if we do lose the house in 50 years for whatever reason, so be it. We can afford the lost. But we cannot afford not having those priceless family time.

No regrets and so happy we bought the beach house.

Yawn. Not near oceanfront? Why bother.

Let me guess, you’re the same troll droning on and on about vacation homes washing away in floods…

Nope. Different poster. I just don't get the appeal of a beach house where you can't even see the ocean from your house.

Says someone who does not have a house down in the DE beaches……..

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd love to hear the specific places people have beach houses they love! Where are you all buying these houses?

Excellent idea - we can map out how many years until those locations are uninsurable!

Ocean pines, Md

How many years do I have?

https://riskfinder.climatecentral.org/place/ocean-pines.md.us?comparisonType=place&forecastType=NOAA2017_int_p50&level=5&unit=ft

Whew I’m in the gray area.

not for this risk happening to my neighbors...

The selected sea level scenario points to a 93% risk of at least one flood over 5 ft taking place between today and 2050.

So just big spikes in premiums.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd love to hear the specific places people have beach houses they love! Where are you all buying these houses?

Excellent idea - we can map out how many years until those locations are uninsurable!

Ocean pines, Md

How many years do I have?

https://riskfinder.climatecentral.org/place/ocean-pines.md.us?comparisonType=place&forecastType=NOAA2017_int_p50&level=5&unit=ft

Whew I’m in the gray area.

So just big spikes in premiums.

not for this risk happening to my neighbors...

The selected sea level scenario points to a 93% risk of at least one flood over 5 ft taking place between today and 2050.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We have a beach house at DE beaches and love it. We rent it out in the summers and just block out days or weeks we want to go down. The income pays for the mortgage and most of the maintenance.

We use it year round as a weekend getaway and especially like the spring and fall for that. We don’t vacation there and go elsewhere.

The value has more than doubled since we bought 9 years ago. But no plans to sell. The family time and memories down there are what is priceless to us. Sure, maybe if we had invested the down payment in the market, we might have made more money but the memories and family time is more important to us. Besides, we are already well diversified in stocks, crypto, and own a few other real estate investments that we rent out full time.

So we have not found our beach house to be a money pit and it has worked out well. Lastly, we plan on holding for a long time to continue making more family memories there. We are not near oceanfront to worry about climate change. But if we do lose the house in 50 years for whatever reason, so be it. We can afford the lost. But we cannot afford not having those priceless family time.

No regrets and so happy we bought the beach house.

Yawn. Not near oceanfront? Why bother.

Let me guess, you’re the same troll droning on and on about vacation homes washing away in floods…

Nope. Different poster. I just don't get the appeal of a beach house where you can't even see the ocean from your house.

I specifically don't want to be on a beach. Here is why.

I want to have a normal life with access to the beach. I want to be in a neighborhood with a community. I choose to be 5 miles so I can have easy access to the beach but I actually prefer the bay and boating. I'd rather fish, crab, and clam. I spend more time golfing and volunteering. I don't want to be in the middle of chaos for a few months a year. I mostly do the beach early morning for yoga and then in the evening when everybody has gone to dinner.

The beach is great but it's only part of why i'm there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We have a beach house at DE beaches and love it. We rent it out in the summers and just block out days or weeks we want to go down. The income pays for the mortgage and most of the maintenance.

We use it year round as a weekend getaway and especially like the spring and fall for that. We don’t vacation there and go elsewhere.

The value has more than doubled since we bought 9 years ago. But no plans to sell. The family time and memories down there are what is priceless to us. Sure, maybe if we had invested the down payment in the market, we might have made more money but the memories and family time is more important to us. Besides, we are already well diversified in stocks, crypto, and own a few other real estate investments that we rent out full time.

So we have not found our beach house to be a money pit and it has worked out well. Lastly, we plan on holding for a long time to continue making more family memories there. We are not near oceanfront to worry about climate change. But if we do lose the house in 50 years for whatever reason, so be it. We can afford the lost. But we cannot afford not having those priceless family time.

No regrets and so happy we bought the beach house.

Yawn. Not near oceanfront? Why bother.

Let me guess, you’re the same troll droning on and on about vacation homes washing away in floods…

Nope. Different poster. I just don't get the appeal of a beach house where you can't even see the ocean from your house.

I specifically don't want to be on a beach. Here is why.

I want to have a normal life with access to the beach. I want to be in a neighborhood with a community. I choose to be 5 miles so I can have easy access to the beach but I actually prefer the bay and boating. I'd rather fish, crab, and clam. I spend more time golfing and volunteering. I don't want to be in the middle of chaos for a few months a year. I mostly do the beach early morning for yoga and then in the evening when everybody has gone to dinner.

The beach is great but it's only part of why i'm there.

This. I’m the PP above with house in DE beaches. We are in a great community that is walkable to beach or 5 minute drive. We use it as a weekend house and maybe a week in the summer. We are not sun worshippers and don’t like to be at the beach all day. In the summer, we like it best in the late afternoons until sunset when all the crowds are gone and it is not so hot.

The beach is great but there is so much to do than just the beach in DE kayaking, boating, golfing, hiking, biking, shopping, museums, cute nearby towns to explore, festivals, concerts, etc….DH does golf weekends with the guys

Also, why pay premium for oceanfront when it is not where we take our beach vacations? We go to the Caribbean in winter for that.
Instead, the money saved from not buying oceanfront can be invested elsewhere. Plus the cost of maintenance and upkeep is much, much more oceanfront.

BTW, we put down a deposit for the place and our yearly rental income pays the mortgage. So if you look at what our initial investment was and the current market value of our house, our investment rate of return is 400%.

Real estate is local. Know your market and ROI. We are seasoned investors and own multiple investment properties before buying the beach house. We rent out our place to pay for almost all operating costs and still get to enjoy it year round. It has been a very good investment for us and not all beach houses are money pits.

[Anonymous]

Anonymous wrote:If you rent it out you’re a loser.

Why?