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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The small cottage is within a pretty reasonable drive from us in a scenic area.  We would be able to handle yard work, maintenance, etc. and we would also be able to use it a lot.  I think that there is a good chance that the home/lot will appreciate in value over the next 5 years.

Aside from utilities and another mortgage payment, what are the other expenses associated with a second home that we should keep in mind?  We do not plan to rent it out.[/quote]

We have a second home, but no mortgage.  It is like owning any other home.  Repairs, taxes, and insurance.  Just had to replace my washer machine and need a new roof. Normal house stuff. I will say though, my taxes and insurance are WAY lower than at my primary home in Northern Virginia. Despite not having a mortgage, it costs me about $1,000/mo to run the home when you take into account everything.  More if a major repair hits.[/quote]

We renovated our former 1960's home in Northern Virginia....it was a good learning experience.  By comparison, this cottage will be nothing compared to that.  Much of the unglamorous but necessary stuff (like windows/roof/siding) has already been done.  AC might need replacing at some point within the next 3 years.  But that's a might.

If the washer dryer or dishwasher break it won't be the end of the world.  We plan to keep meals simple while we're there - eating out and bbqing.  Hanging out, having fun.[/quote]

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