Vacation Home - How old is too old?

[Drake3287]

Topic says it all. Prior to covid 2 1/2 years ago we had planned to buy a vacation home but unfortunately everything in the area we were looking at immediately sky rocketed in price. An inflated amount I refuse to spend also.

Assuming prices go down in this area, we're still thinking about buying one but the one issue I keep thinking about is how old is too old to start such a plan? Assuming health isn't a major concern (fingers crossed), at what point would you feel the hassle of it all isn't worth it?

I only wish I had been able to do this 5 or 10 years ago. Any late starters out there? Early 60's here.

 

[Keim]

As long as you can handle the upkeep, whats to stop you? Bought mine in my late 40s.

 

[Bamaman]

You don't want to wait too long to purchase your vacation place. After all, you want to be around to use it.

Put me in for the early 60's as a good time to buy.

My father was 59 years old when he retired and we built a lake house. That was 42 years ago, and we've been enjoying the property for 5 generations. Thankfully it's just over an hour from home so I can do all maintenance and upkeep personally.

 

[NW-Bound]

"How old is too old?"

I immediately thought the OP was talking about the age of the home.

About your age, well, if you have money to hire help to maintain the home, your age is not a concern. Of course, you would like to maintain mobility to go to/from your 2nd home, but that's all that's needed.

 

[copyright1997reloaded]

I've been doing house projects ALL SUMMER. My body tells me I need to get back to w*rk (college professor) as that will be a relative vacation to my work projects.

I'd say anything over 25 is too old.

I sold my RV which was at a campground 20 minutes away because a) I like it just as well at home w/more convenience and b) because it cost me money to keep it there all summer and store there in the winter and c) it seemed I spent most of my time opening up in spring, mowing/cleaning in summer, and prepping for winter in fall vs. hanging out, and d) a child who is now grown and would rather hang at home/spend time with friends vs. go to the campground.

In all seriousness, I think the mindset needs to be either you like doing upkeep or are willing to pay others to do upkeep. I have always had problems w/myself doing this.

 

[levindb]

We purchased our vacation home at age 59, then purchased our forever home at age 70...on the same island, just a few miles from that vacation home.
We wake up every morning to a beautiful sunrise and enjoy all the wildlife/nature from our deck all day long.
If you snooze, you lose...
If not now, then when?

 

[folivier]

We bought our mountain cabin last year, I'm now 68, DW is 66. I find that I'm more willing and capable to do improvements and upkeep here in the cool mountain air. I just have to pace myself due to the altitude.

 

[Ronstar]

Depends on the home. You can handle a low maintenance home at a much older age than a high maintenance home.

 

[Music Lover]

We started late. We bought our lake home last year when I was 59, she was 55. I thought it would take 4 or 5 years to get tired of doing maintenance on two places but it only took 4 or 5 months. In fact, I've already decided that I'm selling my city house in about 5 years when we'll probably move to an apartment.

 

[upupandaway]

You mentioned a vacation home but is a condo in an area of your choosing something you would consider? That would reduce the maint. involved and still get you a domicile somewhere outside your normal home base.

 

[38Chevy454]

I bought a snowbird place last year, I was 58. For me it is not much upkeep as all I need to do is the plants and the exterior and interior of the small house. Grass is cut for all owners as part of the HOA. This makes it easy to leave.

The distance away and type of place you are considering can make it easy or hard to have the vacation home. For example, a single family type house (cabin as example) where you need to do all the yard work is a lot more maintenance than a condo in comparison. Distance from your permanent home will also figure in to how much time is involved to actually go the vacation home.

I will add that even if your vacation home is in a tourist area, you will still be happy with some days just hanging out and not always on the go to see something. You will have plenty of days in future years to go see the local sights and attractions.

 

[kingkarmann]

Wow!
I’m currently visiting my dad and his wife who retired to a 55 and over community.
20 years ago they were the “youngsters”. Now they are old and on the border of nor being able to care from themselves.
Have a plan to make sure you or your loved ones can take care of you and your dreams before your dreams become someone else’s burden.

 

[pb4uski]

We bought our lake house when we were 50 and our winter condo when we were 60. We love them both and I have ties to the lake over 60 years (I'm 67 now).

I will admit that the lake house is a lot more work... docks and boat lifts to be put in and taken out (I hire this out be it still is some work)... a motorboat and jet ski to put in and out and maintain... 0.7 acres to maintain with too many gardens... you get the idea. In addition, I do the same things for DMs place 5 doors down the road including putting in and taking out the water for the season.

The condo is a lot easier. Clean out the fridge, turn of the water, set the AC, close the door and arm the security system. Well, a little more than that but a lot less than the lake house.

 

[Dash man]

We’re both 66. We bought a Florida condo at 60 and a house a 80 year old house at the Jersey Shore at 61. We hired a guy to update the condo and the Jersey house we bought from a flipper that updated it, leaving the old charm intact.
My health has gotten to where I really wish we would sell them, but DW loves them. We’ll sell the condo when we find we aren’t using it anymore. The Jersey house has appreciated a lot, so we’ll probably keep it and pass it on to our boys.

 

[RobbieB]

Ah, the Jersey Shore!

That's what caused my boat addiction -

 

[NameTaken2]

From my perspective, you're not too old.
Do you have children/grandchildren? Your purchase could become the main Family Time location (and magnet for loved ones to visit!). My great-grandfather bought lake property that's been enjoyed for generations as a camp and then a home, and it is Ground Zero for our family.
I'm now in my 60's. A parent currently lives there, and I maintain the property as independently as possible to allow hard-working children some leisure time there. When I can't anymore, the baton gets passed again.
Including my parents, many nearby retired to their "camps" in their 60's, and remained into their 80's and 90's. Some, while they can, maintain them mostly DIY like me, and others pay for maintenance. Common thread is that they love their Golden Years "at the lake" -it's been a generally active and happy group of retirees.

 

[Luvtoride]

Ah, the Jersey Shore!

That's what caused my boat addiction -

We bought our Jersey shore condo vacation home 5 years ago at age 60. Low maintenance and high enjoyment! Our primary home is only 60 miles away in North Jersey.
Go for it if you will get much joy and use from it!

 

[Gumby]

If you feel up to caring for a second house, I say go for it. Personally, I find caring for our one historic house to be sufficient challenge for me (but we already live on the water anyway).

 

[ncbill]

You don't want to wait too long to purchase your vacation place. After all, you want to be around to use it.

Put me in for the early 60's as a good time to buy.

My father was 59 years old when he retired and we built a lake house. That was 42 years ago, and we've been enjoying the property for 5 generations. Thankfully it's just over an hour from home so I can do all maintenance and upkeep personally.

Yep, our extended family is still using the mountain cabin my grandparents built in the early 1960s.

Grandparents were a little cheap so it's only used May-October (no insulation anywhere)

Finally got internet up there this summer after the local telephone membership co-op converted everyone from copper lines to fiber.

 

[Drake3287]

Thanks for the comments. Although ongoing maintenance is always a concern, I was simply thinking about the amount of quality years I'd have left to enjoy it before age creeps up enough to make using it less common. Buying one at age 40 is a lot different than 60+.

I'm also open to a condo even though I'd never own one as a primary residence. I like the idea of locking the front door and walking away unlike a single family home. Still open though to either though. HOA fees of course are another thing to think about.

I guess the direction of our current economy will be the deciding factor. For me, a recession would be a good thing as much as I hate to say that. Without one I don't see homes prices here in California dropping enough to make a difference.

 

[folivier]

Another thing to consider is how remote will the place be. If so then are there handyman types nearby that can do any of the maintenance you will age out on?
Also is there a community to associate with?
Are there 911 services near enough to provide quick emergency care?
We're fortunate in that our cabin has all of this and more despite being an hour to anything.
Our fire dept. has 5 trained first responders that are very quick to arrive in an emergency. They can provide oxygen, CPR, and stabilize a patient before an ambulance can arrive (1 hour) or can call in a helicopter for more critical cases.

 

[googily]

+1 to the posts about finding a condo/place with an HOA that handles exterior maintenance. Just bought mine at 56 (1,800 miles away from home #1). Up until a few years ago I owned a 100-year-old single-family home in the same area as the vacation home, and the hassles of managing to find yard maintenance folks who wouldn't flake out after a few months along with the never-ending worries about the roof were more than I could bear. But when I saw this new place hit Zillow, I leapt.

 

[Al18]

FYI, there are plenty of prefab houses on the market (or soon to be on the market) that look good and are not that expensive (under 100K) for 500-800 square feet.

 

[SJhawkins]

Topic says it all. Prior to covid 2 1/2 years ago we had planned to buy a vacation home but unfortunately everything in the area we were looking at immediately sky rocketed in price. An inflated amount I refuse to spend also.

Assuming prices go down in this area, we're still thinking about buying one but the one issue I keep thinking about is how old is too old to start such a plan? Assuming health isn't a major concern (fingers crossed), at what point would you feel the hassle of it all isn't worth it?

I only wish I had been able to do this 5 or 10 years ago. Any late starters out there? Early 60's here.

I'm at that point in time you wished you did it, we were on the path for "something" then we all know what happened in 2020.

We are starting to see some small cracks in the market with vacation homes, how long that will take to become more "normal" who knows, maybe it won't. For both our sakes let's hope it does.

My crystal ball says within 5 years maybe a good time to buy RVs and Cabins.

We had a RV at one time, will get one again, we know what that entails. I don't think many new owners truly know or are just starting to figure out what it means to own one, think the vacation home may be the same thing.

 

[Music Lover]

My crystal ball says within 5 years maybe a good time to buy RVs and Cabins.

That may be. Of course you'll then be 5 years older.