Random thoughts on living in multiple homes

[Ronstar]

We bought our vacation condo in 2002 - as a getaway from the harsh Illinois winters, and as a hedge against the equities markets. I don't see the purchase price as capital sunk - I can sell it at any time and move the proceeds into our portfolio. I consider the maintenance fees part of our vacation expenses. Being a condo, I have very little personal time tied up in maintenance. Bills are autopaid, and all exterior upkeep is done by the HOA. Nothing to maintain on the inside.

But I feel we need to downsize our primary residence. It accounts for approx 80% of our overall home expenses and 99% of my personal maintenance time.

 

[kcowan]

We certainly hadn't planned on owning 4 homes in the run up to retirement. But things worked out pretty well, and we were able to do it. A good reason to pad the nestegg(within reason) prior to retirement. Real estate represents about 20% of our net worth and that would be as high as I would feel comfortable with.

We had a slightly different strategy. I gave each of my boys $50k towards buying a cottage, so now when we go back to Ontario, typically in the summer, we can choose between staying with them at home or going to their cottages. Usually a bit of both works, although my grandchildren like us to be at the cottage with them. Sadly they are getting old enough (one is 18 and in second year engineering), that that part of the strategy is starting to dwindle. There are four more to go (2 very young still).

Plus it does not really fit the topic since they are managing the cottages.

 

[Danmar]

We had a slightly different strategy. I gave each of my boys $50k towards buying a cottage, so now when we go back to Ontario, typically in the summer, we can choose between staying with them at home or going to their cottages. Usually a bit of both works, although my grandchildren like us to be at the cottage with them. Sadly they are getting old enough (one is 18 and in second year engineering), that that part of the strategy is starting to dwindle. There are four more to go (2 very young still).

Plus it does not really fit the topic since they are managing the cottages.

Sounds great. Hopefully our cottage will also act as a family meeting place once grandchildren are born. Over time I expect to move the responsibility of the cottage to my daughter and eventually ownership.

 

[jpeter1093]

I am leaving for our European Mountain Cottage in 8 days.

It is incredibly refreshing to be exposed to completely different culture. Change is nice. It is spending money on experience instead of things. (Cottage is pretty modest but is my preferred place to take it easy)

where is the cottage? We visited Murren, Switzerland and loved the place