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[quote=Anonymous]We are considering the purchase of a second home and are trying to determine how prudent it might be.  Our stats:
•	HHI of $300k plus bonus potential of $20-$30k
•	Three children (oldest is 12) in good public schools
•	Primary residence PITI is $2,400 ($350k remaining on $550k mortgage; home value ~ $700k); no other debt
•	Well-funded retirement and college accounts (close to meeting our goal of having in-state tuition covered for all three children through a combination of Virginia 529 Invest and Prepaid accounts)
•	Approximately $150k cash available for second home down payment

My dream has always been to have a place somewhere on the water, a very modest cottage would be great, where our family can get away during weekends, summers and other breaks.  Somewhere relatively close (within two hours). We are very much into hiking, kayaking, and generally spending time outdoors. I know that the real estate market is not optimal now, but as my children grow older I am really coming back to this idea and wondering if we could make it work. My job of 20+ years is very stable and nearly all-remote now, with the occasional in-office visit, so working from this home for much of the summer would be entirely possible. My husband's job is similarly stable and allows for some flexibility in where he can work. Both sets of grandparents are local and we would love to have a place for them to get away and spend time with the family. I know that second homes are a lot of work and I may be romanticizing how much we would use it, especially given travel sports and other commitments, but I really think it could be wonderful. Perhaps we should wait to see if the real estate market comes down sometime within the next year or so? We definitely have sticker shock with some of the listings we see these days. We have even considered purchasing land and building at some point down the road. Any advice, insight or other opinions would be appreciated.  
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