Anonymous wrote:

Anonymous wrote:People here often write that second homes are a waste of money and pointless, and that people should rather invest the money and go on vacations. My thoughts about this are different - they are really a financial commitment for the people who buy them, but they offer so much more once they’re paid off. They’re basically a free place to spend extended holidays/vacations, an anchor to explore and travel to other places from, a place where families build memories. Most people I know have vacation homes (1 or 2), where they go every summer with their kids, or spend summer weekends. No one ever complains, everyone really likes and enjoys them. In all instances though, they were bought by their parents or grandparents.

As others have said, there is no right or wrong answer. Some people, including me, love to build memories at a familiar location every year. It’s how I grew up with extended family, building cousin relationships, and I want to do that for my kids. I also like to try to go one new place every year. My brother - who grew up in the same family - married someone not like this at all, and they prefer to go somewhere different all the time and explore lots of new places, and maybe spend a long weekend meeting up with us in the “tradition” location. Neither is wrong, people just have different preferences. You do you, OP, and let other people do them.

My parents were like you SIL, and I think both can coexist. We can have a vacation place and travel to new places too. Otherwise I completely agree with you - however, in threads about vacation homes, people aren’t as sensible as you. They tear down the notion of the vacation home, as if it is a bad idea in all instances - which it is t. It’s a bit like the SAHM/WOHM debate, where people think their way of doing it is the only right way. So I really appreciate your balanced post!

Different strokes.

We traveled all over when I was a kid, rarely visiting the same place twice. This is how my parents like to vacation - staying in hotels, eating out for every meal, visiting a new place a few times a year.

That’s lovely and I have seen a lot of cool places. I love to travel and will continue to do so as long as I am able to explore.

But when it comes to “vacation,” I want to go to the same place again and again. I want it to be a special place to my family and a place we am build memories for decades. Even better if we can retire there.

So my parents will never own a second home, whereas I do and absolutely love it. If you have a place that you want to go again and again and can afford it, to my mind, it makes sense to invest rather than rent year after year.

We have a Condo in Rehoboth.
Even when it’s paid off we will still have Condo fees to pay, plus taxes.

Anonymous wrote:People here often write that second homes are a waste of money and pointless, and that people should rather invest the money and go on vacations. My thoughts about this are different - they are really a financial commitment for the people who buy them, but they offer so much more once they’re paid off. They’re basically a free place to spend extended holidays/vacations, an anchor to explore and travel to other places from, a place where families build memories. Most people I know have vacation homes (1 or 2), where they go every summer with their kids, or spend summer weekends. No one ever complains, everyone really likes and enjoys them. In all instances though, they were bought by their parents or grandparents.

As others have said, there is no right or wrong answer. Some people, including me, love to build memories at a familiar location every year. It’s how I grew up with extended family, building cousin relationships, and I want to do that for my kids. I also like to try to go one new place every year. My brother - who grew up in the same family - married someone not like this at all, and they prefer to go somewhere different all the time and explore lots of new places, and maybe spend a long weekend meeting up with us in the “tradition” location. Neither is wrong, people just have different preferences. You do you, OP, and let other people do them.

Anonymous wrote:

Anonymous wrote:Purchasing a vacation home (or homes) is a personal and subjective decision. Some people want them; some people (like me) don’t. There’s no right answer.

+1. We owned an investment property in Duck for years (picked it up cheap during the Great Recession) and enjoyed during the shoulder and off seasons (and sometimes during the high season). We were happy to dump it when everything skyrocketed during/after Covid. Maybe I would feel differently about a property in another area, but, it was never great as a jump off point to explore the area (there is not much to explore), and we quickly realized we'd never retire there (not enough year round activity). Most people I know who own or go to "family" vacation homes inherited these homes (or will inherit them). There is no right answer.

Same with the people I know. The houses have been in the family. But I figure, for their convenience, someone before that had to actually make the effort and take the risk to buy it. Some of us aren’t that lucky to inherit vacation homes.

Anonymous wrote:Purchasing a vacation home (or homes) is a personal and subjective decision. Some people want them; some people (like me) don’t. There’s no right answer.

+1. We owned an investment property in Duck for years (picked it up cheap during the Great Recession) and enjoyed during the shoulder and off seasons (and sometimes during the high season). We were happy to dump it when everything skyrocketed during/after Covid. Maybe I would feel differently about a property in another area, but, it was never great as a jump off point to explore the area (there is not much to explore), and we quickly realized we'd never retire there (not enough year round activity). Most people I know who own or go to "family" vacation homes inherited these homes (or will inherit them). There is no right answer.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People here often write that second homes are a waste of money and pointless, and that people should rather invest the money and go on vacations. My thoughts about this are different - they are really a financial commitment for the people who buy them, but they offer so much more once they’re paid off. They’re basically a free place to spend extended holidays/vacations, an anchor to explore and travel to other places from, a place where families build memories. Most people I know have vacation homes (1 or 2), where they go every summer with their kids, or spend summer weekends. No one ever complains, everyone really likes and enjoys them. In all instances though, they were bought by their parents or grandparents.

Does “paid off” and “a free place” include the $30,000/year property taxes?

Way to find the negative in everything, are you miserable in real life or just jealous? Our property taxes on the beach house are $9500

Lol. I get a kick out of these posters who think that when someone raises a point about or against owning a vacation home that person just must be jealous!

PP’s insecurity is showing.

OP. Your example is not well chosen. I spend €3600 per year on maintenance.

Anonymous wrote:

Anonymous wrote:People here often write that second homes are a waste of money and pointless, and that people should rather invest the money and go on vacations. My thoughts about this are different - they are really a financial commitment for the people who buy them, but they offer so much more once they’re paid off. They’re basically a free place to spend extended holidays/vacations, an anchor to explore and travel to other places from, a place where families build memories. Most people I know have vacation homes (1 or 2), where they go every summer with their kids, or spend summer weekends. No one ever complains, everyone really likes and enjoys them. In all instances though, they were bought by their parents or grandparents.

Does “paid off” and “a free place” include the $30,000/year property taxes?

OP. I have an apartment in Europe (small but centrally located). I pay €300 maintenance per month and everything is included. Will be there for 2 months this summer. The annualized costs -€3600 - are negligible compared to what a hotel would cost me. Plus I have a washer, dryer, full kitchen, etc.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People here often write that second homes are a waste of money and pointless, and that people should rather invest the money and go on vacations. My thoughts about this are different - they are really a financial commitment for the people who buy them, but they offer so much more once they’re paid off. They’re basically a free place to spend extended holidays/vacations, an anchor to explore and travel to other places from, a place where families build memories. Most people I know have vacation homes (1 or 2), where they go every summer with their kids, or spend summer weekends. No one ever complains, everyone really likes and enjoys them. In all instances though, they were bought by their parents or grandparents.

Does “paid off” and “a free place” include the $30,000/year property taxes?

Way to find the negative in everything, are you miserable in real life or just jealous? Our property taxes on the beach house are $9500

Our waterfront home is $2500/year in taxes and the town residents complains bitterly about how high our taxes are lol.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People here often write that second homes are a waste of money and pointless, and that people should rather invest the money and go on vacations. My thoughts about this are different - they are really a financial commitment for the people who buy them, but they offer so much more once they’re paid off. They’re basically a free place to spend extended holidays/vacations, an anchor to explore and travel to other places from, a place where families build memories. Most people I know have vacation homes (1 or 2), where they go every summer with their kids, or spend summer weekends. No one ever complains, everyone really likes and enjoys them. In all instances though, they were bought by their parents or grandparents.

Does “paid off” and “a free place” include the $30,000/year property taxes?

Way to find the negative in everything, are you miserable in real life or just jealous? Our property taxes on the beach house are $9500

Lol. I get a kick out of these posters who think that when someone raises a point about or against owning a vacation home that person just must be jealous!

PP’s insecurity is showing.

Anonymous wrote:

Anonymous wrote:People here often write that second homes are a waste of money and pointless, and that people should rather invest the money and go on vacations. My thoughts about this are different - they are really a financial commitment for the people who buy them, but they offer so much more once they’re paid off. They’re basically a free place to spend extended holidays/vacations, an anchor to explore and travel to other places from, a place where families build memories. Most people I know have vacation homes (1 or 2), where they go every summer with their kids, or spend summer weekends. No one ever complains, everyone really likes and enjoys them. In all instances though, they were bought by their parents or grandparents.

Does “paid off” and “a free place” include the $30,000/year property taxes?

Way to find the negative in everything, are you miserable in real life or just jealous? Our property taxes on the beach house are $9500

Anonymous wrote:People here often write that second homes are a waste of money and pointless, and that people should rather invest the money and go on vacations. My thoughts about this are different - they are really a financial commitment for the people who buy them, but they offer so much more once they’re paid off. They’re basically a free place to spend extended holidays/vacations, an anchor to explore and travel to other places from, a place where families build memories. Most people I know have vacation homes (1 or 2), where they go every summer with their kids, or spend summer weekends. No one ever complains, everyone really likes and enjoys them. In all instances though, they were bought by their parents or grandparents.

Lol. No they are not. Last time I checked property taxes and maintenance on vacation homes were far from free.

Purchasing a vacation home (or homes) is a personal and subjective decision. Some people want them; some people (like me) don’t. There’s no right answer.

Anonymous wrote:People here often write that second homes are a waste of money and pointless, and that people should rather invest the money and go on vacations. My thoughts about this are different - they are really a financial commitment for the people who buy them, but they offer so much more once they’re paid off. They’re basically a free place to spend extended holidays/vacations, an anchor to explore and travel to other places from, a place where families build memories. Most people I know have vacation homes (1 or 2), where they go every summer with their kids, or spend summer weekends. No one ever complains, everyone really likes and enjoys them. In all instances though, they were bought by their parents or grandparents.

Does “paid off” and “a free place” include the $30,000/year property taxes?

People here often write that second homes are a waste of money and pointless, and that people should rather invest the money and go on vacations. My thoughts about this are different - they are really a financial commitment for the people who buy them, but they offer so much more once they’re paid off. They’re basically a free place to spend extended holidays/vacations, an anchor to explore and travel to other places from, a place where families build memories. Most people I know have vacation homes (1 or 2), where they go every summer with their kids, or spend summer weekends. No one ever complains, everyone really likes and enjoys them. In all instances though, they were bought by their parents or grandparents.