Reply to Do you think a vacation home is a good investment?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The negative naysayers who jump on here making vacation homes seem like such a drag to own are transparent airbnb vrbo grifters. Or poor people who hate that they know owning a second home is a signal you've made it. And lacking one makes you feel poor.[/quote]

You sound crazy.

I’ve owned two houses before.  It’s a pain in the ass.[/quote]

I grew up with vacation homes and we have owned one for over 20 years. Pain in the butt sometimes…..sure. But wouldn’t trade it and the experiences for the world. It’s like Range Rover owners complaining their truck is always at the dealer for service issues……but they trade in for the new one when it comes out. Or private school parents complain about tuition……but their kids are private school lifers. People complain. Rich people complain. End of the day vacation homes are awesome. And every investment portfolio should have some real estate. Only owning a primary house is very abnormal past a certain income level.[/quote]

No matter your money, you can only live in 1 place at a time.

The opex on a second home is astronomical unless it’s a condo or something.  Taking the cost of the house out of it, taxes+insurance+lawn care/landscaping+snow removal+utilities can easily run 50k per year before repairs and maintenance.  And that’s not counting high insurance costs associated with coastal areas.

Lacking a second home makes me feel rich after experiencing the money pit.[/quote]

I’ve had my second home for 15 years.  Own it outright and the carrying costs aren’t that bad.  LCOL area so taxes are cheap, insurance isn’t much, it’s a wooded area so zero landscaping or lawn maintenance.  My costs are taxes ($1750), insurance ($900), utilities ($100/month electric, $100/month water, $38/month internet), pest control ($400), HOA dues ($100/year) and repairs as needed- some years I don’t need any repairs.  I’d estimate all in it averages about $6k-$10k/ year to own.  I definitely don’t consider it an investment and I would have done MUCH better over the years if I’d have invested in the market.  But I use the house all the time and it’s so nice to have a place to go unwind.  I don’t vacation there, I spent a night or two every few weeks.[/quote]

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