Stats for purchasing a second home and is it a good idea?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
A condo on a canal? I don't think that's what OP has in mind. In any case, unless you've been very unlucky, everywhere I know of anywhere near water has doubled in value in the last two years. |
Anonymous
|
Yes but I did it. And I am nothing special. Single mom. Not rich or especially smart.
Just saying, follow your dream. Carpe Diem! Life is what money is for. |
Anonymous
it’s not a condo. Sfh |
Anonymous
|
I just did a search, realtor.com, SFH $500k and under in Dare County (includes outer banks). Plus "Water front". 30 properties came up. Some pending. You can look for yourself.
Raise the price a little and you get houses actually ON the sound for $600k. You may have your own problems with OBS, that's fine. But the point is, homes (with a $250k down payment I think OP mentioned?) which are waterfront and not crazy expensive do exist. And yes it was a very different market 18 months ago. |
Anonymous
Oh yikes! |
Anonymous
Aw, is it that bad? https://imgur.com/a/OSbQtSk https://imgur.com/a/uo9WnT3 Kinda makes me feel good after a day of hard work, sitting in my rocking chair, watching the sun go down. Frequent rainbows. Big skies and watching storms blow through....So as a PP said, I guess it's an emotional decision, not a financial one. 
But with $250k t put down, OP can do better than this I think... |
Anonymous
Dare County is not even remotely convenient for weekend getaways for a DC-area family with school-aged children and their grandparents. It's total PITA to get to. We've been there and done that. If OP would be willing to forgo a water view, she really should look at WV. It's close to DC and has some really pretty spots. And it affordable. |
Anonymous
Not my cup of tea looking at a bunch of junky homes crammed on a narrow canal. I almost feel one of those storm ponds in an Ashburn neighborhood would be better. But at that price point, I suppose this is good. |