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Real Estate
Reply to "Not having a second / vacation home makes me feel poor & depressed. Anyone else?"
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[quote=Anonymous][quote=Anonymous]It’s basically free? By the time you sell and deduct all you spent on having the home, you broke even or came out ahead, so you had a free 2nd home during that time. [/quote] Basically, although that money in the market would have made money. So you lose opportunity cost and compound interest but gain the ability to enjoy your money. I’m coming up on 16 years of second home ownership. Sink about $5k into my place so far this year, need new windows and siding and have visited maybe six times this year for a night or two, which has been the average for me over the past three or four years. But it’s more than doubled in value and costs about $5k a year to carry, aside from the big ticket items every 5-10-15 years.[/quote]
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