ivinsfan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Feb 19, 2007
- Messages
- 9,969
So, potential annual cost of holding the condo is 57-69K a year...the thing that totally turned us off a "winter home" is take that number and divide by the time you actually live there. You mentioned 4 months a year so the actual cost per month needs to be figured on the amount of time you actually stay there.Of course you also need to make that calculation on your primary home as you have things you need to pay for there on a year round basis.
Paying a large monthly condo fee is one thing when you partake of all the benefits year round and quite another when you are a part time resident. I assume a large part of the 24-28 is in HOA fees.
These type of calculations were what made us decide not to buy a winter home, and our carrying costs would have been a lot lower then yours. As I mentioned in an earlier post these kind of numbers really make you feel tethered down to the winter home, since it carries so much in sunk costs.
Paying a large monthly condo fee is one thing when you partake of all the benefits year round and quite another when you are a part time resident. I assume a large part of the 24-28 is in HOA fees.
These type of calculations were what made us decide not to buy a winter home, and our carrying costs would have been a lot lower then yours. As I mentioned in an earlier post these kind of numbers really make you feel tethered down to the winter home, since it carries so much in sunk costs.