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Reply to "Should I buy a beach vacation home?"
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[quote=Anonymous][quote=Anonymous]I would only buy a beach house if I could afford for it to be a complete failure as an investment. I would expect renters or squatters to trash it when I'm not there. I would expect the cost of insurance to triple over the next 5-10 years. And i would expect if I tried to sell it, it would be at a big loss. If you can stomach these real risks, then go for it.[/quote] We've owned a beach house for almost 15 years and none of these things has happened. Squatters? Please. Summer renters are hard on it, sure, but they don't "trash it" and it's nothing that a good cleaning service can't take care of. The cost of insurance is rising, but so far, not that much. And we regularly get cold calls with offers on the house that are many times what we paid for it. I think you're dreaming up problems. There are cons to owning a beach house, but none that you have mentioned. [/quote]
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