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Reply to "Pros/cons of buying a second home "
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[quote=Anonymous]It's a luxury and a big expense, since you're not planning to rent it, which is fine. If you're confident that you can comfortably afford it, that's great. I only take a slight issue with the way you said that you think it will go up in value in five years. You're not planning on renting it, and you're not planning on selling it, so whether it goes up in value is basically irrelevant. It's a sunk cost. I don't say this to criticize, but just to make sure you're thinking about this with the right mindset. It's not an investment. It is a large initial cost, and an ongoing cost in perpetuity, as long as you own it. [/quote]
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