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Reply to "Do you think a vacation home is a good investment?"
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[quote=Anonymous][quote=Anonymous]We put a contract on our Bald Head Island house in October 2021, when prices had already shot up. Even so, less than 2 years later, we could sell it today for $250K more judging from recent sales. That more than covers any negative cash flow on the monthly mortgage from not renting out the house as much as we thought we would -- because we prefer to use it during the peak weeks. And we no longer spent $30K on vacations per year (because we were taking big trips for a long time with the kids), so there's that. I agree that owning a vacation home shouldn't be considered only from the financial point of view. There are better ways to invest. But we'll definitely see a return financially and we've been getting a lot more from this purchase than ROI. We've never regretted it for a moment! [/quote] We have very, very good friends who lost their shirts on their BHI house. I wouldn’t gloat just yet. [/quote]
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