Can We Afford a $1.5MM Second Home?

[Anonymous]

Anonymous wrote:OP, get out of here. If your net worth is 12 million you can afford to go to a financial advisor and get professional advice after looking at your assets wholistically. Asking this shit on the internet is just trolling.

I hate this comment and all its derivatives ... "Can't you get professional advice and not anonymous internet strangers?" Such a straw man. Yes, of course people can get other advice and of course they're not taking these posts as gospel. This board is for floating trial balloons ... some get good answers, most don't. But it's so feeble minded and useless to waste time and people's attention with these "why are you asking us" posts. Ugh. Grow up.

[Anonymous]

Go for it, OP. You can afford it. And if five years from now it's not what you hoped it would be, you can sell it and move on.

[Anonymous]

Anonymous wrote:I can't think of a less exciting way to use $1,5M than Naples, FL, but if it makes you happy, do it x

Curious - what would you do?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I can't think of a less exciting way to use $1,5M than Naples, FL, but if it makes you happy, do it x

Curious - what would you do?

I was the PP who mentioned mangos and fisherman on page 3. Condos and heavily developed areas like that aren't really my thing, as someone noticed. For that kind of money you can get much more incredible real estate (private beaches, etc) elsewhere. But as I said, to each his or her own.

[Anonymous]

Personally, I'd get a little place on the beach on the Mediterranean (Greece, Spain, Italy, etc). We've gone a few times over the years and would love to spend the summers there. That or maybe Maine.

[Anonymous]

Anonymous wrote:Personally, I'd get a little place on the beach on the Mediterranean (Greece, Spain, Italy, etc). We've gone a few times over the years and would love to spend the summers there. That or maybe Maine.

As they age access to healthcare will become a priority. Unless they are going to plunk down more money and move again then. Imagine one of them having a heart attack and needing an airlift from a remote beach on the Mediterranean...

[Anonymous]

You should go for it, OP. You can definitely afford it and it sounds as if it's something you will enjoy. Use it in good health!

[Anonymous]

Most of the people on DCUM don't have the first clue what a net worth of $12MM lifestyle is like. But I will jump in. If you like Naples and there are a lot of people like you there -- it is a certain type of person, then that is +1. Then if you think you can resell it, that is +2. (Some rich people do not like ocean front b/c lack of privacy) If you think you might be leaving your home now in Nov, returning in April, that is +3. Staying in a hotel for 5 months is a pain. And if it has amenities that you will find convenient now or for the next 7 years , +4. So, I would say, if it meets all that go for it and enjoy! We have a friend who owns a home in Florida -- she is never there and rents it out. So that is +5.

[Anonymous]

"But as I said, to each his or her own."

I think implicit in this phrase is also the concept of not gratuitously bringing up to someone that you think the have poor taste.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Personally, I'd get a little place on the beach on the Mediterranean (Greece, Spain, Italy, etc). We've gone a few times over the years and would love to spend the summers there. That or maybe Maine.

As they age access to healthcare will become a priority. Unless they are going to plunk down more money and move again then. Imagine one of them having a heart attack and needing an airlift from a remote beach on the Mediterranean...

they have good hospitals in europe too - i would venture that most mediterranean locations would be pretty close to one.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Personally, I'd get a little place on the beach on the Mediterranean (Greece, Spain, Italy, etc). We've gone a few times over the years and would love to spend the summers there. That or maybe Maine.

As they age access to healthcare will become a priority. Unless they are going to plunk down more money and move again then. Imagine one of them having a heart attack and needing an airlift from a remote beach on the Mediterranean...

I don't see this really being a problem. It's not like it's a third world country.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Personally, I'd get a little place on the beach on the Mediterranean (Greece, Spain, Italy, etc). We've gone a few times over the years and would love to spend the summers there. That or maybe Maine.

As they age access to healthcare will become a priority. Unless they are going to plunk down more money and move again then. Imagine one of them having a heart attack and needing an airlift from a remote beach on the Mediterranean...

I don't see this really being a problem. It's not like it's a third world country.

You clearly never had to go to a public hospital in a provincial Greek town. I hope you never have to.

[Anonymous]

So you are not married and will be buying the property together? If you were a married couple with this question, you can certainly afford it but your post saying that most of the net worth is from your SO who is retired while you are still working but the two of you are not married makes the whole transaction too complicated to offer advice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Personally, I'd get a little place on the beach on the Mediterranean (Greece, Spain, Italy, etc). We've gone a few times over the years and would love to spend the summers there. That or maybe Maine.

As they age access to healthcare will become a priority. Unless they are going to plunk down more money and move again then. Imagine one of them having a heart attack and needing an airlift from a remote beach on the Mediterranean...

I don't see this really being a problem. It's not like it's a third world country.

You clearly never had to go to a public hospital in a provincial Greek town. I hope you never have to.

+1 Same with Italy

[Anonymous]

You have this much money and you have a to come on a garbage anonymous forum to ask? This area really just hands out money to every moron with a degree, wow.