I realize no one can really answer this for me but I was hoping to hear from people that may have been in the same position.
I recently retired in my 50's with a government pension and various savings that should comfortably cover myself and wife for the rest of our lives. We both love to travel and at the same time would love to be able to buy a vacation home in the Lake Tahoe area. Problem is, I can't really do both.
Currently I have an extra $2,000. a month which isn't needed for savings or any other real purpose. At this point I just use this money to fund a couple of incredible vacations a year, Europe, Hawaii, Caribbean, etc...
Has anyone given up the freedom of traveling in order to buy a vacation home? Have you been sorry after making the purchase? Unfortunately prices in the Tahoe area are in the $400,000. range for a decent place. A mortgage amount I'd hate to deal with even though I can cover it with this extra $2,000. each month.
I've heard people that say they love having a vacation home and I've heard others that were sorry they ever bought one! Any words of wisdom from others with this same predicament?
I recently retired in my 50's with a government pension and various savings that should comfortably cover myself and wife for the rest of our lives. We both love to travel and at the same time would love to be able to buy a vacation home in the Lake Tahoe area. Problem is, I can't really do both.
Currently I have an extra $2,000. a month which isn't needed for savings or any other real purpose. At this point I just use this money to fund a couple of incredible vacations a year, Europe, Hawaii, Caribbean, etc...
Has anyone given up the freedom of traveling in order to buy a vacation home? Have you been sorry after making the purchase? Unfortunately prices in the Tahoe area are in the $400,000. range for a decent place. A mortgage amount I'd hate to deal with even though I can cover it with this extra $2,000. each month.
I've heard people that say they love having a vacation home and I've heard others that were sorry they ever bought one! Any words of wisdom from others with this same predicament?