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Travel Discussion
Reply to "Talk to me about hidden costs of buying a vacation home"
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[quote=Anonymous]When buying a second home we opted for a condo (4 bedrooms, 4.5 bathrooms, town house style) to help mitigate the costs of pool person, yard person, etc. Ours is a 10 hr drive from DC, or about 4 hours via plane and car and we use it regularly for vacations and long weekends. We rent it out when we are not using it and it covers the cost of the mortgage, taxes, condo assoc fees, assessments etc. We put 20% down payment (I think that may be the minimum you can do on a vacation home) and then budgeted about $30K for furnishing and renovating(ours mostly needed new paint and fixtures, new appliances and kitchen countertops). It's been worth it for us.[/quote]
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