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[quote=Anonymous][quote=Anonymous][quote=Anonymous]How far away is it?  How old are your kids?

We’ve had and have a few. The ones that are far away or are in a place that’s not too far and the traffic is bad really negatively affected the pleasure derived from them. If the kids are in any sports or time sucking activities that matters as well because it affects the amount of use. If neither of those things matter, the amount would have to be low enough that if I lost it all, it wouldn’t matter. We don’t know enough information about you to answer this. For example, you could pay cash but does that put a dent in your savings?  Is resell easy?  Would you easily have money and people to do maintenance. [/quote]

Plane ride. We go there 3-4 times a year now. Spouse will also sometimes stay there for work. Yes, it will of course put a dent in our savings. We are going to take $ from it to pay for the condo. Plus then the monthly expenses associated with it will come out to cash flow. Resell is pretty easy in this place. [/quote]

I own a vacation home in Bethany and it is cash flow positive (booked solid 2 years out, bringing in 5-6K/week for 9 weeks, plus a few weeks here and there in the off season). We originally bought it to NOT rent it, but kids got older, tired of going to the same place and had sports and friends they preferred to hang with.

I will say I would NEVER buy a home that is a plan ride away, unless it is strictly for investment purposes.  Even that is risky since 2nd homes an vacation areas are the first places to suffer in a down economy (trust me I know first hand).

Personally I think  this would be a purchase for a financial illiterate. You don't sound like you have anything remotely close to FU money (if you did you would not be on this site asking this question)  For 1M, you could rent 1,000 nights in a $1,000/nt room, not even factoring in taxes, insurance,  association fees,  upkeep, and the plane rides.

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