A Second Vacation Home a Good Thing?

NW - my DW is like your sister - likes hotels, downtown areas, and shopping. And she does not care for the 'journey' of traveling. She wants to get where she wants to go as fast as possible.

Yesterday I went to a local tool/woodworking shop for supplies. Coincidently there is an RV dealer in the same building. I'm going to look into renting
a Class B van to see if can change DW's mind.

RV Rentals in Iowa and RV Rentals in Illinois

Do you have pics of your dinghy?
 
Yes, here's my dinghy to be. To be because I have not bought and installed the tow bracket.

It's a second-hand Saturn SC2 (towable) with 49K miles. I am having 2nd thoughts about using it as a dinghy. Been driving minivans and SUVs for the last 20+ years, I no longer like the low seat height. I want to give it to my son (he loves it as he is driving a real clunker), and to get myself a Honda CR-V which is also towable. However, DW protested "Where would you put it?".

So, no real dinghy yet.

img_931954_0_b241a6ba82a104df931b6f2a878203f8.jpg
 
Nice dinghy - but I agree - you need something with a higher seat height. Its easy getting in low cars but tough getting out. A Honda CR-V would be perfect - good gas mileage too
 
Ronstar said:
It's easy getting in low cars but tough getting out...
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And you are still driving a Vette? ;)

I am still limber enough (ask me again in [-]10[/-] 5 years), but the change in elevation from an RV driving position to the low car seat is disturbing.
 
I am currently at my second (vacation) home, and it is a very good thing! :whistle: :LOL: :cool:
 
NW-Bound said:
And you are still driving a Vette? ;)

I am still limber enough (ask me again in [-]10[/-] 5 years), but the change in elevation from an RV driving position to the low car seat is disturbing.
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Yes - I know how disturbing the elevation change can be - I'm changing between my vette and F-150 pickup. I'm splitting some seams in the drivers seat of the vette where I grab on to catapult me out of the car.
 
2nd vacation homes and condos are great. I am thrilled that a lot of people own them.

DW and I choose lease or rent them from the owners. It is a win-win situation. It helps the owners defray some of their cost. We can have a relatively low cost place to stay for weeks or months with the flexibility of going to different locations and not worrying about our investment 12 months a year.
 
I am looking at a "condo" (converted hotel room) type second home at the beach. It is in a complex with several hundred rooms and has all the pools and hot tubs a person could want. There is an on-site rental company that will manage everything for you for about 45% of the rental price. Not great, but easy for me.

I am looking at a foreclosure unit with low HOA fees (side ocean view). Does anyone in this thread have this type of second home?
 
The property management fee seems excessive (45%) where 25% would be the norm (high).
 
neatokimmo said:
I am looking at a "condo" (converted hotel room) type second home at the beach. It is in a complex with several hundred rooms and has all the pools and hot tubs a person could want. There is an on-site rental company that will manage everything for you for about 45% of the rental price. Not great, but easy for me.

I am looking at a foreclosure unit with low HOA fees (side ocean view). Does anyone in this thread have this type of second home?
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I would check closely on the governance structure for the property and the relationship of the rental company to the HOA - smells to me that the builder may have imposed an exploitive permanent contract on the HOA

and never buy any condo without sitting in on at least one HOA meeting. Info collected from a tenant on the property regarding trouble will be more arms length than info from a current owner.

also, if you are looking in the Southeast, wait a month or so and pick up the unit for half the current price at the peak of the oil spill hysteria
 
Kroeran said:
...if you are looking in the Southeast, wait a month or so and pick up the unit for half the current price at the peak of the oil spill hysteria
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Dirty market timer!:LOL:

It might take more than a month but it is good advice. Everyone should look for extra bargains in the Panhandle et al.
 
we''ll know its time to buy when Time magazine has a cover story declaring the end of coastal living!

I am surprised its taking so long to assemble a shroud to put over the leak in order to collect the oil at source.
 
Just bought a waterfront condo as vacation home. Plan is to use it and rent it out over the next eight years until we retire. Will use it a few weeks a year in the beginning and increase that every year until we finally sell our primary home and move there for good. Had not really planned on buying this early but couldn't pass up the deal from someone who needed to get out now.
 
Thanks. It is in Cozumel and the photo under my name is the view from the terrace.
 
BTravlin said:
Thanks. It is in Cozumel and the photo under my name is the view from the terrace.
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Congratulations! I'm sure this will be a great decision for you and your family. :cool:
 
BTravlin said:
Thanks. It is in Cozumel and the photo under my name is the view from the terrace.
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I went diving down their in 79. Palencar was great. Is the condo down that way? I heard they have developed south. When I was there there was no development more than a mile or so south of town.
 
donheff said:
I went diving down their in 79. Palencar was great. Is the condo down that way? I heard they have developed south. When I was there there was no development more than a mile or so south of town.
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Actually, the condo is on the south edge of town. We liked the location for the convenience factor. Don't need a car if we don't really want one. The grocery is across the street and half a block down. Plus we are within a ten minute walk of numerous inexpensive restaurants that serve great food and cold cervezas.

My wife and I absolutely love diving and one big appeal is most dive ops will pick us up at the pier right out back. The Palancar reef area is still a great dive. There are several resorts along the southern end of the island but they are not wall to wall like some other places.
 
Meadbh said:
Article in today's Financial Post arguing against purchasing a second vacation home.....

Vacation property best left rented
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Saw this article in the Financial Post as well. It hits on some of the exact reasons that DH and I have decided not to buy a second home. A friend of ours has a condo in Invermere and his carrying costs (not including the mortgage) are almost $1K a month between the monthly condo fees and utilities.
 
As I do not want nor care to rent out what I consider my own place, I would agree that vacation homes are most likely not a good thing. Our 2nd boonies home is not really a "vacation home", as it is only 2.5 hrs of driving away. And yet, it doubles our housing expenses. But if we had to catch a flight to get to it to do some inspection every time there is a major snow, or rain, or windstorm, I would sell it pretty quick.

Is it worth it? I guess it is like travel. Some like it while some don't. It is not the end of life if you don't have it.

Can we talk RV now? How about having children? ;)
 
I think it was Benjamin Franklin that said building a fireplace is one thing, but its the monthly cost of buying the wood that will sink you.

For Florida real estate at this point, its not the capital outlay (or the mortgage with a low interest rate), but more the taxes, HOA, condo owners insurance, flood insurance, house minding, internet....and then there all the risks to consider to condo associations in Florida these days.

that being said, a 100% gain in real estate prices is virtually inevitable in Florida over the next decade as excess inventory is sopped up and prices return to the cost to build.
 
While buying a second home in Muskoka or Whistler might not be economical, I have an associate who owns in Collingwood and in Florida. He rents the Collingwood home in the ski season while he lives in his mobile home in Florida. Then he rents the Fla mobile in the hot season to teachers. It seems to make a lot of sense and he enjoys that lifestyle.

BTW who is counting on 8% return on REITs over the next 10 years?!
 
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