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Do you have a vacation home?


DawnM
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Do you have a vacation home?

 

Condo at the beach?

Cabin in the mountains?

Lake house?

 

Just curious.  All of my neighbors seem to.

 

We don't.  I doubt we will ever get one.  we like going to various places and I think if we had one place somewhere we would feel like we could only go there.

 

ETA:  I also think all my neighbors are in a lot of debt.  Some have said they are.  Others may be able to afford it just fine.  

Edited by DawnM
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We rent cabins / small cottages in our vacation spot. We have a favorite one. This way we have the convenience of coming and leaving again without any other obligations. Since we are repeat customers, the owners know us now. It is like a home away from home without owning and being responsible for another piece of property.

 

Between the first paragraph and this one I was reconsidering this because when Ottakee mentioned that they may have an opportunity to look at a vacation home, I was all for it. If there was anything resembling livable in my vacation spot for the price she mentioned, I may change my stance on this...however since this is extremely unlikely, I won't have to lose sleep over it. :)

Edited by Liz CA
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I have one which is co-owned by all my in-laws. We could not have afforded it otherwise. It does not feel like a burden in terms of "we have to go there because we're paying for it," since we do not have a mortgage on it. We pay "dues" every year to cover taxes, electricity, supplies. We do go often throughout the summer and it is 30 minutes drive to where DD goes to college, so that has been handy for visiting her.

 

ETA: we call it a "beach" house, but it is on a creek off The Chesapeake Bay. There's not much beach to speak of and what beach is there is full of water reeds and snakes. So, not really a place to play in the sand much. :)

Edited by Quill
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Haha! We can barely scrape enough time together to get a weekend without projects, let alone a motor home or actual vacation home AND the time to visit.

 

Nope for us. I know many people who do but not us.

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Nope. We rather stay in resort hotels and purposely pick business conferences that are hosted at resorts near coastlines to attend.

 

I do think it is possible to own two homes without debt, treating the first home as rental income when upgrading to a bigger home. A friend has three homes, two of which are rental incomes not by choice due to property downturn. She could sell her rental income homes at good profits now but the rents after expenses are funding their retirement savings.

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No. We like to travel to different places. We do have some favorite areas, but by that I mean we go there every ten years or so. (Hello, Sedona.)

 

I can't imagine having a vacation home, it just wouldn't feel right for our style.

 

We do have a timeshare membership but it can be used anywhere, and it's pretty useful.

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My parents owned a condo on a lake for maybe 15 years. They had bought it thinking they would retire there but ended up deciding that they didn't actually want to live year-round in it. It was costing them a fortune to maintain it between the property taxes, HOA fees, heating it even in the winter so the pipes wouldn't freeze (they could've winterized by shutting off the water and draining the pipes but I guess they felt that was a big hassle to do), and maintenance.

 

We definitely cannot afford a vacation home. We would have the cash to buy a basic RV or a timeshare if we really wanted to but that's not a priority. Not with me hopefully attending grad school starting next year and the kids rapidly approaching college-age (oldest has already started dual enrollment at the CC).

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Add us to those who have a tent and who prefer to go to different places rather than the same place over and over again.

 

We're contemplating buying a condo... but it would be for snowbirding and eventually moving to - not sure if that would count as a vacation home or not.  We'd expect to rent it when we're not there, 'cause we wouldn't want to give up traveling to other places.  Hubby is still working on convincing me we want a sailboat rather than a condo so we can be like we are with the tent - taking our residence with us.  We don't have either yet though.

 

Hubby's parents have a vacation cottage on a river in VA.  We go there at times, but it's more along the lines of visiting family rather than time away to ourselves.  No one else in either of our extended families owns a place.

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My family had a cabin at a lake when I was growing up. I loved going there, and do miss it. My dh's family preferred to rent places so that they weren't tied down to one location. It does have its advantages not owning a vacation place. You don't have to worry about upkeep or neighbours when you just rent.   

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I do not think it's necessarily indicative of debt that somebody owns a second home, first. 

 

DH has tossed the idea around. He has a friend who would be interested in "going in" on it with him, and it would be easy enough (in the area they were looking) to rent it out when we weren't using it, which a lot of people seem to do. With that said, it would be in FL and I don't care for FL (not a beach person, a water person, or a sunshine person). I also don't like the idea of feeling wedded to one area. 

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Many people in our area have a lake home, since we are in the land of 10,000 lakes, afterall!  My dh and I never felt a desire to have one, though both of our parents did for a number of years.  My dh's mother still has one that we use from time to time.  We especially loved going to my parents' woodsy cottage on a lake, especially during the days when all our kids were young and we really couldn't afford to do anything else at all.  Our kids have wonderful memories of going there.  

 

But as they got older and we could afford to travel a bit, that became our priority.  We loved and still do love traveling to new places.  I sometimes think it would be fun to have a lake cottage where we could all gather (our kids, their own someday families, etc.), but that won't happen.

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We own  1/3  of my MILs house near the beach.  It's 30min. to the shore...does that count?  We rarely use it as the beach is not our go-to place.  The other siblings use it regularly and we rent it out.

 

Otherwise, we have a tent.

 

I have thought about getting a cabin the mountains but that would tie us down too much. We like to go to different places when we go on vacation trips.

 

 

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Like, in my dreams?

 

ETA: we don't own any home, and our landlord wants us to move out by the end of the month because she wants to sell the house. We do have a tent, but not sure we'd all fit in it (my wife bought it during manic camp-gear-buying-spree in Dec). 

Edited by luuknam
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We don't.  I'd love to.  When we lived in Oregon we talked about someday having a beach house or a place in eastern part of the state (Bend area).  But then we changed everything around, moved away, and will never have the $$ for one.  

 

My in-laws have always had a vacation home.  They were not in a lot of debt.  I suppose my husband may inherit it but I hate the place and the town it's in and will never live there.  Plus it's a tough 12 hours' drive away, so not useful as a vacation getaway. 

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My grandparents owned a lake house as their escape/vacation home.  They definitely were extremely careful with money.  They scrimped and saved for years to buy it from a family friend and had very little income to begin with but they slowly paid off the property because they loved it and it mattered to them.  My dad grew up going there.  I remember going there as a child and teenager and young adult and it was so fun.  When my daughter was born we would go there and meet other family there.  My son went there as a toddler.  My in-laws would go there.  Friends used it, too.  It was a wonderful part of our family experiences.  But property taxes went up and up and up.  Surrounding properties got sold to developers and it was no longer a little cabin in the woods near a lake, it was a little house in the middle of a bunch of condos.  My grandparents died.  My parents could no longer afford the property.  Dad sold it.  And it broke his heart.

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I'll be the oddball and say that we do.  It's about 75 minutes away from our main house and about a 15 minute walk from the lake.  It's actually a nicer house than our primary house in the city and on 5 acres and I have my huge garden out there.  

 

And here's the thing.  While I love it while I'm there, I hate packing to go and I hate unpacking when we come home.  And I can never find enough time to spend out there - there's always lots of commitments that keep us in the city.  So whenever someone tells me that they are considering buying a cottage I tell them 'don't do it'.  

 

We bought it initially because it was a great deal, our house in the city had been paid off for years and we knew the neighbours and they had kids the same age as ours.  But primarily we bought it because DH hates to travel, so the thought was that this would get him out of the house and outside.  That hasn't happened. What's happened is that the kids and I have spent more time up there and I've also come to resent the fact that I would much rather have that money to spend on travel with the kids and if he wanted, we could also rent a cottage for a few weeks each summer.

 

I campaigned heavily to sell last summer and again this spring but so far I'm not getting any buy in.  So for those of you who have tents or RVs - that sounds just lovely.  And for those of you dreaming of a summer home, it ain't all it's cracked up to be.

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We did, for 15 years, in Cannon Beach, Oregon. We had wonderful times there. I don't regret owning it but neither do I regret having sold it. It was wonderful when my son was young and we were homeschooling. We could go anytime we wanted and stay as long as we wanted. We saw all the seasons, had countless walks on the beach. My son learned to ride his bike there. We met friends there every summer, had WTM gatherings, made sand maps of the Goths and the Visigoths. We began our homeschooling right on the front porch and did all kinds of tide-pool observation. We learned all the different kinds of gulls, saw pelicans and oyster catchers, and even got to try to save a beached shark.

 

It was our Thanksgiving go-to.

 

We had four or five friends use it for their honeymoons, we had several family reunions, a couple of families between homes used it for a few months each, and a lot of people had their vacations there. A couple of people had extended stays for health reasons.

 

They all took wonderful care of it. We never rented it.

 

But traffic increases made the drive onerous; expenses rose; my son grew up and doesn't have time for it anymore. And we2 go different places now. So it was time to sell it and we did.

 

The new owners rent it out. We can't afford it. Lol.

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We do not. 

 

We do have a relative that owns a beach house, however said relative also makes quite a bit renting out the beach house when they aren't using it (most around here, who own beach houses, also rent them and thus they pay for themselves). 

 

Like you, we prefer to travel, not repeat the same location each time, so we'd likely never own a vacation home unless we really came into a massive windfall sometime. 

 

We *are* able to vacation very nicely every year, though. 

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Of course! We like to summer at our chateau in the South of France and winter at our chalet in Aspen.

 

Kidding.

 

We have an RV in Pacific Beach and a boat in Coronado. But, only because we don't own a normal home. :)

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Do you have a vacation home?

 

Condo at the beach?

Cabin in the mountains?

Lake house?

 

Just curious.  All of my neighbors seem to.

 

We don't.  I doubt we will ever get one.  we like going to various places and I think if we had one place somewhere we would feel like we could only go there.

 

ETA:  I also think all my neighbors are in a lot of debt.

 

 

Yes.  We have a home at the beach.  It's about a year old and is thankfully paying for itself through rentals.   Dh required a business plan before he agreed. It was about two years from let's do this to ownership.  

Edited by Artichoke
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We have a lake house. The land was purchased by DH's grandfather and has been passed down through the generations.  We are next door to the cousins, inlaws, and DH's brother.  It is kinda' like going to a never-ending family reunion every summer.

 

Up side: Getting to spend lots of time bonding as an extended family.

 

Down side: Doing housework for two homes

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We have a camp about 2 hours away, with a nice cabin and some acreage. Co-owned with a family member. 

 

There may have been some talk when we bought it about going there more often for vacations, and less to other places, but that did not actually happen  :lol:

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No. Until 5 years ago, we were transients because of work so that wouldn't have made sense.  Now we could get another home but I see no reason why.  We like to take weekends in different places like nearby cities, state parks, National parks, beach areas,  etc. We like to take vacations in different places too and vary them- city vacations, cruises, driving vacations not centering on cities, etc. Also, I like spending weekends often at home since my city has a lot of activities going on all the time and we have a pool too.

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I live in a vacation home in the mountains full-time. Does that count?  :lol:

 

Growing up, we had a vacation trailer on a permanent campsite.

 

These days, I would really like to have a group vacation home with my siblings and parents, but we can't really swing it, even with all of us. It'd be nice to have a place where a few or all of us could get together whenever the mood/ability hits us.

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I don't, but I would like it if we lived 1-2 hours from somewhere that it made sense.

 

I have been 3 times in the past 5-6 years to rentals with my extended family. Others in my extended family really prefer being able to go different places.

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We don't and don't have any desire to own one. My parents actually just inherited a house at a beach from my aunt (it was my aunt's primary house of residence and it's an average house not a big "beach house" kind of place). They are considering keeping it and wanted to know if we would want it one day (I'm an only child.) For many reasons I think it's a bad financial decision for them to keep it but that's their decision. I did tell them that we didn't want it ourselves. 

 

I do know people who have vacation homes. The people I know seem to be people who prefer to go to the same place over and over or to do a specific activity. A doctor at work has a house at a ski resort. They go there almost every weekend in the winter and her kids are really into skiing. They spend Thanksgiving and Christmas there with extended family. It's the kind of place that also has summer activities so they go there in the summer as well. A nurse at work and her husband have a condo on Hilton Head. Before they bought it they went there at least once a year already and loved it. I would bet they will eventually retire there. 

 

Dh much prefers to travel to new places so a vacation home wouldn't work for us even if we could afford it. My parents rent a place at the beach every year and we go with them but dh often only stays a day or two. For him there isn't a lot of fun in going back and doing the same things every year. Plus, he's not really a hang out at the beach for a week vacationer. I like both kinds of vacations (travel and the more relaxed beach kind) so it works well for me and the kids to have been able to do this with my parents. 

 

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I do not think it's necessarily indicative of debt that somebody owns a second home, first. 

 

DH has tossed the idea around. He has a friend who would be interested in "going in" on it with him, and it would be easy enough (in the area they were looking) to rent it out when we weren't using it, which a lot of people seem to do. With that said, it would be in FL and I don't care for FL (not a beach person, a water person, or a sunshine person). I also don't like the idea of feeling wedded to one area. 

 

NO, I wasn't saying that.  But several of them have SAID they are in debt and some have mentioned that they would like to sell their 2nd home but their spouse didnt' want to, etc.....

 

I am sure there are many who can afford it and probably some who can pay cash.  

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Like, in my dreams?

 

ETA: we don't own any home, and our landlord wants us to move out by the end of the month because she wants to sell the house. We do have a tent, but not sure we'd all fit in it (my wife bought it during manic camp-gear-buying-spree in Dec). 

We also don't own a home and are in a situation of being forced to move soon. "Vacations" are visits to the homes of relatives. We've contemplated an RV, but in the sense that it would become our primary living situation.

 

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Like, in my dreams?

 

ETA: we don't own any home, and our landlord wants us to move out by the end of the month because she wants to sell the house. We do have a tent, but not sure we'd all fit in it (my wife bought it during manic camp-gear-buying-spree in Dec). 

 

Technically we don't either.  The bank still owns a big portion of it.

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