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[quote=Anonymous][quote=Anonymous][quote=Anonymous]How far away is it?  How old are your kids?

We’ve had and have a few. The ones that are far away or are in a place that’s not too far and the traffic is bad really negatively affected the pleasure derived from them. If the kids are in any sports or time sucking activities that matters as well because it affects the amount of use. If neither of those things matter, the amount would have to be low enough that if I lost it all, it wouldn’t matter. We don’t know enough information about you to answer this. For example, you could pay cash but does that put a dent in your savings?  Is resell easy?  Would you easily have money and people to do maintenance. [/quote]

Plane ride. We go there 3-4 times a year now. Spouse will also sometimes stay there for work. Yes, it will of course put a dent in our savings. We are going to take $ from it to pay for the condo. Plus then the monthly expenses associated with it will come out to cash flow. Resell is pretty easy in this place. [/quote]

Work all the numbers and be brutally honest with them.  Will it cash-flow positive?

I did the math on this at our favorite beach place (and I'm not telling where).  I came to the conclusion that, for 2 weeks at the beach, I could spend $10-15K annually as an "owner" versus $3-4K renting the place.  And when a hurricane is coming, well....as an annual renter it is regrettable but not my own problem.

"Owning" things comes with a lot of unexpected events.  It might be a good fit for you, or it might not.  Myself, I would retire all debt on my personal home first (which, personally, I have done) before even considering this.  But we all are different.  Get lots of advice and look at the numbers, but at some point its a decision of what you value.

Best wishes.[/quote]

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