Reply to Using Taxable Brokerage Account to Buy Vacation Home

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I wouldn't. Just ride out until your feeling goes away[/quote]

Why not?[/quote]

Because these things are like 'mid-life crisis" wants. They come and go. OP is thinking that taking the weekend off and spending the weekend on a nice quiet get-away home w/ spouse and their two teenage kids. Like a dream vacation.  In reality, that's highly unlikely. Kids want to do what they want to do, not being told what they are doing in coming weekend. The weekend to-do items never go away which means every time you spend wkd away, your to-do list only get longer. Also, from $ standpoint, OP still have a big future liability that has not been realized - kids college cost. Also, their retirement fund is low (only 1 million). I am assuming OP has a pension because 1 mil at age 50 w/o pension and two kids heading to college sounds pretty shaky to me. That's why not. [/quote]

Unless you plan to rent out the vacation home a good portion of the year (and successfully do that), you are tied to "we own this place so we have to go there for the 4 days rather than somewhere else".  2nd homes only make sense if you can truly afford them, and unless college is fully funded and they have a pension, they really can't afford a 2nd home at this time.   Not to mention, no HS kid wants to spend the weekend at the lake house---they want to be at home with all the amenities and all their friends and might have sports/drama/music/etc that requires them to be home.    I know very few people who truly love their "vacation homes"---most in DC/MD have a place at the shore and feel obligated to travel there for every vacation "because we have the vacation home".  Me, I'd rather travel to different locations and rent at each spot---not be tied to a specific location[/quote]

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