Anonymous wrote:

Anonymous wrote:I can see the appeal for some but we don't want to visit the same place every summer. We do annual trips with my parents, siblings and our families but we pick a different vrbo house or resort so that we can visit different places. It also lets us siblings who are spread across the country each get a turn at a shorter flight.

We visit monthly or whenever we feel like it, plus take vacations further away.

Anonymous wrote:I can see the appeal for some but we don't want to visit the same place every summer. We do annual trips with my parents, siblings and our families but we pick a different vrbo house or resort so that we can visit different places. It also lets us siblings who are spread across the country each get a turn at a shorter flight.

Anonymous wrote:Everything needs upkeep. That costs. A family vacation home is an asset that's tricky for later generations to deal with. Not everyone can contribute equally. Not everyone can enjoy equally. Op, glad it's a pleasant reality or aspiration for you and your family.

Anonymous wrote:I don’t usually believe in bloody revolution. But when I head people talking about “a place to build memories “, I do.

Anonymous wrote:

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.

An “investment property” is not a “vacation home.” There’s a huge difference.

We owned an “investment property” in OBX as well. And we, too, used it primarily during the shoulder season and enjoyed it when we did. But on balance owning it was a royal pain in the a$$ because of renters and the expense and wear and tear involved. Plus you needed things like locked owner’s closets and couldn’t leave anything personal just lying around. Hell, you couldn’t even leave butter in the fridge.

We sold our OBX house years ago, an early in the pandemic ending up buying a true vacation/second home. It’s just under 2 hours NW of downtown DC but it’s a whole different world. Large home on 7 acres, a beautiful pool, stables (we don’t use them but our neighbors do) and walking distance to the center of a charming historic town with plenty of restaurants and other amenities. We come and go as we please and will never rent it out, ever. It’s a true second home.

There’s no comparison between a vacation home and an investment property.

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.

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?

Nope. 2M+ beach house In Rehoboth. Property taxes less than $2,000 a year. ($320 is property tax and the rest is the school tax). Reasonable to me!😀✌️

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?