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Reply to "Stats for purchasing a second home and is it a good idea?"
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[quote=Anonymous]Properties are so expensive. You won’t be getting a vacation home on the water for your budget. I have a vacation home, but I purchased it in 2009 so my PITI is $700/mo. Vacation rental income has taken a nose dive in the last 3 most because everyone has your idea. I’m very glad I don’t need that income at all. It was a nice to have. You’ve be buying at an inflated price, high interest rates, and at your price point guaranteed very piss poor income potential. If will be way cheaper for you to rent the same types of place for an extended time. [/quote]
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