Should I buy a beach vacation home?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I only listened to the DCUM echo chamber, I would be more worried about owning our beach home and being able to resell it. Because climate change is real, and sure, the stock market would have been smarter purely from an investment standpoint.

The fact is that 40% there are SO many families who still want to buy beach properties -- though maybe that's on the wane in Florida. Maybe because they can afford it regardless of whether it blows away. Maybe because they're climate change deniers. Maybe because they are motivated by emotion and are willing to ignore the risks; they want a gathering place for family that feels more like home than a vacation rental.

And all of that negates the naysaying on this thread. You'll be able to resell your beach house because the psychology still favors buying coastal properties. I'm at our beach house right now. I had two people just this week ask me if we'd think of selling - one who wants to buy, the other who knows someone who is actively looking. Could that change in the next few years? Sure. But right now, it's the weird poster here (who is so freaked out that she's calling names) who is the outlier. No one on our island is freaking out.

Ha Ha you were doing so well until you weeded into bullshit. This did not happen. Folks looking for beach houses don’t ask owners of houses that aren’t on the market if they’re “interested in selling.” They look at the MLS, where there always are plenty of houses for sale in every beach community that attracts renters.

Not PP, but my dad has a place in Fenwick Island and that has happened to him a few times. Not recently that I know of, but this was a few years ago when inventory was pretty low. I'd like for him to agree to sell it soon, and I hope some of those people are still looking.

Sure it has happened to your dad a “few times.” But over how long of a time period? “Twice this week?” I doubt it very much.

Of course, it’s the middle of the summer and you have people in the area vacationing and enjoying themselves and fantasizing about owning their own place, so you can imagine people making fantasy inquiries. But two serious inquiries this week for a house that isn’t on the market? I call bullshit.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I only listened to the DCUM echo chamber, I would be more worried about owning our beach home and being able to resell it. Because climate change is real, and sure, the stock market would have been smarter purely from an investment standpoint.

The fact is that 40% there are SO many families who still want to buy beach properties -- though maybe that's on the wane in Florida. Maybe because they can afford it regardless of whether it blows away. Maybe because they're climate change deniers. Maybe because they are motivated by emotion and are willing to ignore the risks; they want a gathering place for family that feels more like home than a vacation rental.

And all of that negates the naysaying on this thread. You'll be able to resell your beach house because the psychology still favors buying coastal properties. I'm at our beach house right now. I had two people just this week ask me if we'd think of selling - one who wants to buy, the other who knows someone who is actively looking. Could that change in the next few years? Sure. But right now, it's the weird poster here (who is so freaked out that she's calling names) who is the outlier. No one on our island is freaking out.

Ha Ha you were doing so well until you weeded into bullshit. This did not happen. Folks looking for beach houses don’t ask owners of houses that aren’t on the market if they’re “interested in selling.” They look at the MLS, where there always are plenty of houses for sale in every beach community that attracts renters.

Not PP, but my dad has a place in Fenwick Island and that has happened to him a few times. Not recently that I know of, but this was a few years ago when inventory was pretty low. I'd like for him to agree to sell it soon, and I hope some of those people are still looking.

Sure it has happened to your dad a “few times.” But over how long of a time period? “Twice this week?” I doubt it very much.

Of course, it’s the middle of the summer and you have people in the area vacationing and enjoying themselves and fantasizing about owning their own place, so you can imagine people making fantasy inquiries. But two serious inquiries this week for a house that isn’t on the market? I call bullshit.

Not recently, like I said. It's not people knocking on the door . . . just a few people who sent letters inquiring if he was interested in selling. He does get cold calls from RE agents, but I don't count those. Maybe that's what the PP is referring to?

[Anonymous]

Anonymous wrote:I’ve always wanted a place at the beach, but it never made sense because of working in an office and busy kid sports schedules. Now I’m in my 50’s and have savings for retirement. I’m not going into the office as often and will probably retire in a couple years. I could afford to pull out $1 million for a place. We would not rent it out. We’d use it more once I stop working. Our kids and siblings could also use it some. We’d have a view.

Downsides are distance - 3 hour drive, cost - $1 million plus pretty high HOA fees (cheaper to rent but hard to find places last minute), crowds and traffic during the summer, potential maintenance hassles, potential climate change, and is it a pain to actually go to your vacation home often?

Do you love having your place?

I do not think you can afford one. Sorry!! Maybe look at a condo.

[Anonymous]

Buying a beach house will not likely ever be the best investment you can make. But how much money do people really need? It’s fine to choose to buy fun instead of more money than you will ever spend in your life.

The financial part that does matter is whether you can afford it. And that includes considering unexpected expenses, like increased HOA fees and special assessments. So do your homework.

Plus while many are not climate deniers, we don’t all feel compelled to make decisions based on something that’s going to occur generations after we’re dead, like significant rise in water level.

As for flooding, as recent events have shown us, even being inland can’t protect you from flooding.

[Anonymous]

Anonymous wrote:Buying a beach house will not likely ever be the best investment you can make. But how much money do people really need? It’s fine to choose to buy fun instead of more money than you will ever spend in your life.

The financial part that does matter is whether you can afford it. And that includes considering unexpected expenses, like increased HOA fees and special assessments. So do your homework.

Plus while many are not climate deniers, we don’t all feel compelled to make decisions based on something that’s going to occur generations after we’re dead, like significant rise in water level.

As for flooding, as recent events have shown us, even being inland can’t protect you from flooding.

People keep mentioning HOA fees which I don’t really associate with owning a SF beach home. It doesn’t seem like many beach houses are in HOA communities.

Are you referring to owning a condo?

[Anonymous]

Anonymous wrote:

Anonymous wrote:If I only listened to the DCUM echo chamber, I would be more worried about owning our beach home and being able to resell it. Because climate change is real, and sure, the stock market would have been smarter purely from an investment standpoint.

The fact is that 40% there are SO many families who still want to buy beach properties -- though maybe that's on the wane in Florida. Maybe because they can afford it regardless of whether it blows away. Maybe because they're climate change deniers. Maybe because they are motivated by emotion and are willing to ignore the risks; they want a gathering place for family that feels more like home than a vacation rental.

And all of that negates the naysaying on this thread. You'll be able to resell your beach house because the psychology still favors buying coastal properties. I'm at our beach house right now. I had two people just this week ask me if we'd think of selling - one who wants to buy, the other who knows someone who is actively looking. Could that change in the next few years? Sure. But right now, it's the weird poster here (who is so freaked out that she's calling names) who is the outlier. No one on our island is freaking out.

Ha Ha you were doing so well until you weeded into bullshit. This did not happen. Folks looking for beach houses don’t ask owners of houses that aren’t on the market if they’re “interested in selling.” They look at the MLS, where there always are plenty of houses for sale in every beach community that attracts renters.

There are very very few houses for sale in the upscale beach town we’ve been looking at. Inventory is so low. I fear prices will only rise if rates get cut.

[Anonymous]

I really want a beach house and have looked extensively for one. I cannot find an area that I like that also isn’t at huge risk of flooding and erosion. So for now I am not buying one. I am trying to convince myself that I will like a house high in a cliff in Maine. But really I want a house right on the ocean at the Charleston SC beaches.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I only listened to the DCUM echo chamber, I would be more worried about owning our beach home and being able to resell it. Because climate change is real, and sure, the stock market would have been smarter purely from an investment standpoint.

The fact is that 40% there are SO many families who still want to buy beach properties -- though maybe that's on the wane in Florida. Maybe because they can afford it regardless of whether it blows away. Maybe because they're climate change deniers. Maybe because they are motivated by emotion and are willing to ignore the risks; they want a gathering place for family that feels more like home than a vacation rental.

And all of that negates the naysaying on this thread. You'll be able to resell your beach house because the psychology still favors buying coastal properties. I'm at our beach house right now. I had two people just this week ask me if we'd think of selling - one who wants to buy, the other who knows someone who is actively looking. Could that change in the next few years? Sure. But right now, it's the weird poster here (who is so freaked out that she's calling names) who is the outlier. No one on our island is freaking out.

Ha Ha you were doing so well until you weeded into bullshit. This did not happen. Folks looking for beach houses don’t ask owners of houses that aren’t on the market if they’re “interested in selling.” They look at the MLS, where there always are plenty of houses for sale in every beach community that attracts renters.

There are very very few houses for sale in the upscale beach town we’ve been looking at. Inventory is so low. I fear prices will only rise if rates get cut.

I’ll add that I’ve been told by locals that there are less and less rentals available every year because rich people are buying the houses and not renting them out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I only listened to the DCUM echo chamber, I would be more worried about owning our beach home and being able to resell it. Because climate change is real, and sure, the stock market would have been smarter purely from an investment standpoint.

The fact is that 40% there are SO many families who still want to buy beach properties -- though maybe that's on the wane in Florida. Maybe because they can afford it regardless of whether it blows away. Maybe because they're climate change deniers. Maybe because they are motivated by emotion and are willing to ignore the risks; they want a gathering place for family that feels more like home than a vacation rental.

And all of that negates the naysaying on this thread. You'll be able to resell your beach house because the psychology still favors buying coastal properties. I'm at our beach house right now. I had two people just this week ask me if we'd think of selling - one who wants to buy, the other who knows someone who is actively looking. Could that change in the next few years? Sure. But right now, it's the weird poster here (who is so freaked out that she's calling names) who is the outlier. No one on our island is freaking out.

Ha Ha you were doing so well until you weeded into bullshit. This did not happen. Folks looking for beach houses don’t ask owners of houses that aren’t on the market if they’re “interested in selling.” They look at the MLS, where there always are plenty of houses for sale in every beach community that attracts renters.

There are very very few houses for sale in the upscale beach town we’ve been looking at. Inventory is so low. I fear prices will only rise if rates get cut.

I’ll add that I’ve been told by locals that there are less and less rentals available every year because rich people are buying the houses and not renting them out.

We just bought a house in a location that is a huge tourist area. The house was a popular rental for twenty years, We reno'ed and refurnished it and took it off the rental market. Now we use it and let friends stay, but that's it.

[Anonymous]

I would never buy real estate because it is such a PITA to maintain it. The only house I am willing to buy is the house that I live in.

I am cool with using hotels for my vacation needs.

[Anonymous]

Anonymous wrote:Buying a beach house will not likely ever be the best investment you can make. But how much money do people really need? It’s fine to choose to buy fun instead of more money than you will ever spend in your life.

The financial part that does matter is whether you can afford it. And that includes considering unexpected expenses, like increased HOA fees and special assessments. So do your homework.

Plus while many are not climate deniers, we don’t all feel compelled to make decisions based on something that’s going to occur generations after we’re dead, like significant rise in water level.

As for flooding, as recent events have shown us, even being inland can’t protect you from flooding.

My plan is to give the extra money to my kids so that they and my grandkids have a leg up. So, within reason I will enjoy my money and make good financial and life decisions - but, I want my genes to continue to have a chance in this world too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Buying a beach house will not likely ever be the best investment you can make. But how much money do people really need? It’s fine to choose to buy fun instead of more money than you will ever spend in your life.

The financial part that does matter is whether you can afford it. And that includes considering unexpected expenses, like increased HOA fees and special assessments. So do your homework.

Plus while many are not climate deniers, we don’t all feel compelled to make decisions based on something that’s going to occur generations after we’re dead, like significant rise in water level.

As for flooding, as recent events have shown us, even being inland can’t protect you from flooding.

People keep mentioning HOA fees which I don’t really associate with owning a SF beach home. It doesn’t seem like many beach houses are in HOA communities.

Are you referring to owning a condo?

There are several SF home communities along Route 1 in Delaware between Dewey Beach and Ocean City where you will need to pay HOA fees as an owner.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I only listened to the DCUM echo chamber, I would be more worried about owning our beach home and being able to resell it. Because climate change is real, and sure, the stock market would have been smarter purely from an investment standpoint.

The fact is that 40% there are SO many families who still want to buy beach properties -- though maybe that's on the wane in Florida. Maybe because they can afford it regardless of whether it blows away. Maybe because they're climate change deniers. Maybe because they are motivated by emotion and are willing to ignore the risks; they want a gathering place for family that feels more like home than a vacation rental.

And all of that negates the naysaying on this thread. You'll be able to resell your beach house because the psychology still favors buying coastal properties. I'm at our beach house right now. I had two people just this week ask me if we'd think of selling - one who wants to buy, the other who knows someone who is actively looking. Could that change in the next few years? Sure. But right now, it's the weird poster here (who is so freaked out that she's calling names) who is the outlier. No one on our island is freaking out.

Ha Ha you were doing so well until you weeded into bullshit. This did not happen. Folks looking for beach houses don’t ask owners of houses that aren’t on the market if they’re “interested in selling.” They look at the MLS, where there always are plenty of houses for sale in every beach community that attracts renters.

Not PP, but my dad has a place in Fenwick Island and that has happened to him a few times. Not recently that I know of, but this was a few years ago when inventory was pretty low. I'd like for him to agree to sell it soon, and I hope some of those people are still looking.

Sure it has happened to your dad a “few times.” But over how long of a time period? “Twice this week?” I doubt it very much.

Of course, it’s the middle of the summer and you have people in the area vacationing and enjoying themselves and fantasizing about owning their own place, so you can imagine people making fantasy inquiries. But two serious inquiries this week for a house that isn’t on the market? I call bullshit.

Not recently, like I said. It's not people knocking on the door . . . just a few people who sent letters inquiring if he was interested in selling. He does get cold calls from RE agents, but I don't count those. Maybe that's what the PP is referring to?

LOL I get THAT in DC! Means nothing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I only listened to the DCUM echo chamber, I would be more worried about owning our beach home and being able to resell it. Because climate change is real, and sure, the stock market would have been smarter purely from an investment standpoint.

The fact is that 40% there are SO many families who still want to buy beach properties -- though maybe that's on the wane in Florida. Maybe because they can afford it regardless of whether it blows away. Maybe because they're climate change deniers. Maybe because they are motivated by emotion and are willing to ignore the risks; they want a gathering place for family that feels more like home than a vacation rental.

And all of that negates the naysaying on this thread. You'll be able to resell your beach house because the psychology still favors buying coastal properties. I'm at our beach house right now. I had two people just this week ask me if we'd think of selling - one who wants to buy, the other who knows someone who is actively looking. Could that change in the next few years? Sure. But right now, it's the weird poster here (who is so freaked out that she's calling names) who is the outlier. No one on our island is freaking out.

Ha Ha you were doing so well until you weeded into bullshit. This did not happen. Folks looking for beach houses don’t ask owners of houses that aren’t on the market if they’re “interested in selling.” They look at the MLS, where there always are plenty of houses for sale in every beach community that attracts renters.

There are very very few houses for sale in the upscale beach town we’ve been looking at. Inventory is so low. I fear prices will only rise if rates get cut.

Sure, Jan.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If I only listened to the DCUM echo chamber, I would be more worried about owning our beach home and being able to resell it. Because climate change is real, and sure, the stock market would have been smarter purely from an investment standpoint.

The fact is that 40% there are SO many families who still want to buy beach properties -- though maybe that's on the wane in Florida. Maybe because they can afford it regardless of whether it blows away. Maybe because they're climate change deniers. Maybe because they are motivated by emotion and are willing to ignore the risks; they want a gathering place for family that feels more like home than a vacation rental.

And all of that negates the naysaying on this thread. You'll be able to resell your beach house because the psychology still favors buying coastal properties. I'm at our beach house right now. I had two people just this week ask me if we'd think of selling - one who wants to buy, the other who knows someone who is actively looking. Could that change in the next few years? Sure. But right now, it's the weird poster here (who is so freaked out that she's calling names) who is the outlier. No one on our island is freaking out.

Ha Ha you were doing so well until you weeded into bullshit. This did not happen. Folks looking for beach houses don’t ask owners of houses that aren’t on the market if they’re “interested in selling.” They look at the MLS, where there always are plenty of houses for sale in every beach community that attracts renters.

Not PP, but my dad has a place in Fenwick Island and that has happened to him a few times. Not recently that I know of, but this was a few years ago when inventory was pretty low. I'd like for him to agree to sell it soon, and I hope some of those people are still looking.

Sure it has happened to your dad a “few times.” But over how long of a time period? “Twice this week?” I doubt it very much.

Of course, it’s the middle of the summer and you have people in the area vacationing and enjoying themselves and fantasizing about owning their own place, so you can imagine people making fantasy inquiries. But two serious inquiries this week for a house that isn’t on the market? I call bullshit.

Not recently, like I said. It's not people knocking on the door . . . just a few people who sent letters inquiring if he was interested in selling. He does get cold calls from RE agents, but I don't count those. Maybe that's what the PP is referring to?

LOL I get THAT in DC! Means nothing.

I didn't say that it means anything . . . just that it does happen.