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Reply to "Vacation homes - are you glad you bought one?"
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[quote=Anonymous][quote=Anonymous]OP here. Thank you for the replies. We are looking in Davis, WV. Definitely not a market you invest in to make money. We are looking to enjoy the area with our kids. I am not interested in renting it out except to friends and family. I love the idea of just leaving our stuff there and never having to pack gear. The market is pretty dead there so I'm thinking we could spend around 125K and get something decent. I'm not too sure on maintenance costs - maybe 3-5K a year. If anyone has an idea on what they plan for costs, feel free to share. [/quote] Here are some of our costs - this is on a pretty big house in the Northeast that we use primarily in the summer: RE taxes: $8,000 Water: $150 (on the cheap side) Electricity $3,000 (house has electric heat and even though we keep the heat at 50 in the winter the bill for last month was $400) Cable/internet/phone $1,400 (we have it on vacation mode for 5-6 months a year but need good internet for working at home) Cleaning $1,500 (summer only, plus annual spring cleaning) Caretaker $1000 (9 months of weekly visits) Landscaping $3000 (mowing, spring/fall cleanups, sprinkler maintenance - landscaping is crazy expensive in this location) We also have done a lot of home improvement projects - renovated a bathroom, extensive landscaping, replaced some flooring. Last year that was about $50k. Furnishings are pretty well in place now - but there are always expenses for small things along the way like a new appliance, or new towels, etc. [/quote]
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