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Old 02-13-2012, 07:24 AM   #41
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The link is to the comments section following a newspaper article on Canadians owning second homes. I did not read them so perhaps Frugalityisthenewblack can give us a short summary.
How about this? Don't sink money into a vacation home. Keep the money in a high MER fund in Canada instead.
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Old 02-14-2012, 01:32 PM   #42
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I own a second home, but it's for reasons that work well for me. I like to be able to get away impulsively when I want to. That is harder to arrange if I am renting. And I have two dogs that I want to take with me. I still also go on vacation to other places as much as I used to before. My second home did not take the place of faraway vacations.
I have similar reasons for thinking about buying a small beach condo. It is difficult to find places where I want to go that are dog friendly and availability gets tricky when you don't plan out. Personal decision, but if you use it, have the money, and have fun, it's worth it.
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Old 02-14-2012, 01:56 PM   #43
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Luckily, I have no pets, as much as I love animals. I could never afford a dog that would require me to buy a second home for it. On HGTV, I also notice that many couples seem to choose their primary home on the basis of whether or not their dog would like it. Then, there are the vet bills. Whew.
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Old 02-25-2012, 09:45 PM   #44
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I own a second home, but it's for reasons that work well for me. I like to be able to get away impulsively when I want to. That is harder to arrange if I am renting. And I have two dogs that I want to take with me. I still also go on vacation to other places as much as I used to before. My second home did not take the place of faraway vacations.
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I have similar reasons for thinking about buying a small beach condo. It is difficult to find places where I want to go that are dog friendly and availability gets tricky when you don't plan out. Personal decision, but if you use it, have the money, and have fun, it's worth it.
I'm kind of kicking around the idea of a small condo on the AL coast. The above pretty well sums up my feelings, maybe more so in the future when I no longer have family obligations here. The thing I like about the coast(Orange Beach), it's only 3 hours from where I live, I have some family down there and of course I love the area. And I like the idea of splitting my time between my current home and the coast. Another plus, my nephew's wife owns a couple of condo's in the area and could/would manage it for me as she does her own at a much better rate than if I hired a management company. She has a cleaning lady, handy man and advertises her condos over the net. Has good bookings too. I would try and lease it part of the year to help cover some of the cost like condo fees, taxes etc...

I'm going to at least kick the tires so to speak. With real estate prices at such lows, there are some good deals around. Could go lower I suppose, but this is certainly a buyers market.
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