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Old 09-11-2011, 05:09 PM   #21
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Actually my kids loved going to San Francisco for vacation. There is a lot for them to do and see. We didn't go near the bar and bath house streets.

I remember taking them, when quite young, to San Francisco. On the flight back I asked each what they liked best. My son shouted, "The cable cars!" Daughter simply clearly stated, "The shopping!" She loved Ghirardelli Square. We laugh at that comment even today.
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Old 09-11-2011, 06:10 PM   #22
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I don't even know what would happen tomorrow let alone what's going to happen 5-10-15 years down the road.

If I were you, I would invest in fixed income for now or dividend stock(s) and use the proceed for vacation rental.
Me too.
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Old 09-11-2011, 06:37 PM   #23
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I think dividend stocks are the way to go too.
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Old 09-11-2011, 07:12 PM   #24
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I've looked at "investing" in a holiday home/second home several times.

From a financial perspective, whether it makes sense or not depends on the specifics of the property you are looking at and a number of future assumptions relating to the property value, its outgoings, the cost of alternative short term renting, interest rates, return on whatever you invest in instead of the property. I usually end up concluding that not buying the property is better.

There are also two other factors against buying a second home:

1. the time needed to look after the property (or pay someone else to do it for you)

2. the loss of flexibilty in planning future vacations - how often do you want to go to the same holiday destination?
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Old 09-11-2011, 07:55 PM   #25
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....

There are also two other factors against buying a second home:

1. the time needed to look after the property (or pay someone else to do it for you)

2. the loss of flexibilty in planning future vacations - how often do you want to go to the same holiday destination?
Vacation home contra to flexibility: ease and comfort of sleeping in your own bed, having your own stuff around you beyond what you can get in carry-on. Cue the motor-home crowd.
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Old 09-12-2011, 10:54 AM   #26
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2. the loss of flexibilty in planning future vacations - how often do you want to go to the same holiday destination?
I didn't ever own a vacation home, but I did live for several years at the beach in CA. The only thing that could get me to leave was someone died and I had to attend the funeral.

And of course eventually I got marrried and she wanted to leave.

Ha
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Old 09-12-2011, 11:21 AM   #27
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We had a vacation home in Sunriver, about 20 miles south of Bend, Oregon. It is a marvelous place all seasons. It was a small house in a condo development, a 'Ranch Cabin."

Sunriver is a very popular vacation development in central Oregon. We put the cabin in a rental pool which significantly offset the cost of purchase and was more than enough to pay for maintenance & taxes. We sold it when the kids started college for a tidy profit.

What we learned is that as kids grow up weekends are consumed by athletics and Scouting. Driving 4 hours from Portland to Sunriver with a car full of kids is nerve-racking. And, as they grow older, we wanted them to have a variety of experiences. The fact that our cabin was essentially booked all summer and most ski weekends justified our keeping it.

I haven't talked to Sunriver rental agencies recently but my last conversation with them was that the big houses rented the best. We stayed in one a couple years ago and I noticed that they experiance a lot of wear and tear. Purchasers should rent a property they might buy for a week first.

Several couples in my building own vacation homes/condos on the Oregon coast. They can get there in about an hour and a half from Portland and they have children, grandchildren who also use it. As I listen to their coast house stories I notice that they started with a grand house, found it was more than they needed and downsized.
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