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Old 08-11-2015, 09:20 PM   #61
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House swapping might be another option to buying a second home but it's not for everyone.
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Old 08-11-2015, 10:25 PM   #62
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Originally Posted by kcowan View Post
Or worse, you spend 10 minutes looking for it until you realize it.
Oh... I thought that was a given.
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Old 08-11-2015, 10:30 PM   #63
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I would rather have the flexibility to vacation in many locations, so I'd travel instead of buying a vacation home anywhere. We're all about holding fixed expenses down too, a vacation/second home locks in a lot of costs whereas travel costs can vary as needed, more in good years and less in lean years or when other unexpected expenses crop up. ....
That is part of our reasoning as well. The reality is that we don't totally know where we want to settle for winters and renting gives us flexibility to try something different. I'll concede though that seasonal rentals in highly desirable areas that are nice in the winter are sometimes difficult to get.
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Old 08-12-2015, 05:51 AM   #64
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That is part of our reasoning as well. The reality is that we don't totally know where we want to settle for winters and renting gives us flexibility to try something different. I'll concede though that seasonal rentals in highly desirable areas that are nice in the winter are sometimes difficult to get.
And we have a 70 pound dog, which makes if even harder. Hate to admit that the dog influenced our purchase, but it's true. Finding a private, fenced, courtyard access also limited our market.
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Old 08-12-2015, 06:54 AM   #65
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Rent.
+1

Op, I'm in the same situation. I plan on retiring next year at 55. I've always loved the shore and dreamed of owning a place at the beach. In fact next week I'm traveling to Charleston SC to check out SC beaches (have family in the area).

I've decided to rent for the first couple of years to see if this is truly what I want. I figure vacationing somewhere is totally different than actually owning a place.

I'll travel a bit also.
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Old 08-12-2015, 08:04 AM   #66
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That is part of our reasoning as well. The reality is that we don't totally know where we want to settle for winters and renting gives us flexibility to try something different. I'll concede though that seasonal rentals in highly desirable areas that are nice in the winter are sometimes difficult to get.
We started out this way in Arizona. But the market was just so low we eventually couldn't resist buying a place. Helped that the CDN $ was at a premium as well. You should always rent for 6-12 months before buying anyway.

I am sitting on my deck at our Ontario lake house as I write this. We have owned this place for 18 years and have substantially improved it over this period. Just love it here although it is certainly expensive to maintain. Renting would not have been a viable option. Also, it would not have afforded the great satisfaction I get when I think we will pass on this paradise to my daughter. Different strokes for different folks.
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Old 08-12-2015, 08:47 AM   #67
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I have mixed feelings about owning a second home. I bought a nice piece of property a few years ago with a running creek through it with some excellent fishing in the spring near by. About 2 years ago I built a 750 square foot cabin with all the amenities of home. The cabin/property is 140 miles from my home base so its around a 3 hour drive. I probably go up there 10 times a year. Two or three of those trips are for fishing the rest are for maintenance and cutting the grass. I basically go up there and work most of the time. Something always needs tending. When we pull into the property and unlock the gate, I silently pray every time no one has broken into my cabin and made a mess! There is that aspect of owning a second home. The initial cost was a little under 100k so it wasn't that much of an investment but the ongoing maintenance obviously continues. Now having said all that, I love going up there in the fall/spring shooting guns, cooking outside with my buds, fishing and having a great time. I have thought about buying a bigger place but then it will probably be more work. My wife retired last week so maybe we will be able to spend more time up there and get more things done with not such a time constraint. So my vote is to not own a vacation home but rent. I reserve the right to change my mind.
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