Reply to Should I buy a beach vacation home?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Ha, have fun with climate change.

Only a sucker would be investing in anything near the water these days.

Seriously—insurance is only going up, and that's your best case scenario. Most places you're probably consider are extremely vulnerable to catastrophic storm damage.

Get a mountain house.[/quote]

Op - also a consideration, but we aren’t sure we are boat people. [/quote]

Maybe something mid Delmarva peninsula—easy drive to the beach with much less risk. We stayed at some airbnbs—beautiful large old houses on open fields, only like 30 minutes from Rehoboth. [/quote]

That's not really a beach house.[/quote]

Yes, we've established that only a literal moron would consider buying a beach house in a day and age when they're shortly all going to be uninsurable and/or severely damaged on a regular basis. The idea is a nice family home that can be an escape and a retreat that also has easy/close access to the beach so, while it's all still there, the OP can enjoy what the beach has to offer. [/quote]

Why all the aggression and name-calling, PP?  We have a beach house, and yes, our insurance premiums are increasing.  We've also experienced several hurricanes.  But we can afford the insurance as I suspect OP can.  We didn't buy ocean front (we're deliberately four houses from the ocean) and we looked carefully at the flood zones, so we've never experience even a dollar's worth of damage due to storms or floods.  This "literal moron" has seen her beach house value rise by $500K in the 3 1/2 years since we bought with a 3% mortgage.  My personal opinion is that, if you have to get in your car and drive 30 minutes to a beach, you might as well drive 2 hours to the beach from DC.  It's the same amount of effort to pack everything up and get in traffic.  We walk down the lane to a beautiful uncrowded beach. [/quote]

As an owner of more than one vacation home at the beach and in ski areas like Aspen you are an idiot.

Expenses are not just insurance.

With Trump's economy and the fact he's never leaving office buying a beach house when the dollar is tanking and unemployment is rising is a terrible financial move unless you are the 1% which you are not.[/quote]

Yup.

This.

Anyone who thinks there is going to be a market for summer rentals is a lunatic. [/quote]

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