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Reply to "Vacation homes - are you glad you bought one?"
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[quote=Anonymous]We are in the process of buying a condo in a popular mountain town in the Rockies (we live in Denver). Our goal is to purchase a 3 bedroom 2 bath condo and Airbnb it a lot for the first two or three years. Being as it's a popular ski area as well as huge in the summer for mtn biking and hiking etc. the research that we have done indicates that we can cover our mortgage with rentals if we put what we have saved, down. We'd then sell it in 6 years or so when our kids are teenagers and buy a place that we use exclusively. I will say, sports makes it hard to get places on the weekend, depending on how active your kids are. Its HARD to carve out weekends to get to the mountains between three sports and constant birthday parties etc. By the time they are in high school they won't have constant weekend sports like they have now. That is when we would like to sell, and purchase a larger place that we don't rent and use a lot more often. The nice thing about the location is that the kids are huge skiers as are all of their friends, so later on when they are teens its actually somewhere they want to go as their peers are there too. That is something you might want to consider, based upon your chosen destination. [/quote]
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