Do you have a second home?

[theplayerking]

 

For recreational rather than investment purposes. Do you go there it on weekends or seasonally? Do you use it and enjoy it as much as you thought you would? Or is it a money pit you regret? What issues have you had with maintenance, weather, security, etc. I’ve always fantasized about having a weekend house in the country, but it’s a huge commitment and would love to get other perspectives. 

 

[+ Charlie]

When I was much younger, my partner and I lived and worked in Philadelphia, where we owned a house, but I also owned a co-op apartment in Manhattan, where we had lived previously, because we went there so regularly that it was cheaper and more convenient to have our own place there whenever we wanted to go for a weekend or longer. In the early years of the AIDS epidemic, however, we stopped going to NYC so frequently, so I decided to sell the apartment and use the money to upgrade our full-time home in Philadelphia. The main problem with having two homes was that we had to have two of everything, and if we had only one, I often accidentally left it in the wrong residence.

Edited January 29 by Charlie

[+ Vegas_Millennial]

When I was a teenager, my family had a second home for recreation.  In hindsight, the biggest downside was we never traveled anywhere new because we felt obligated to spend our vacation time in the second property, if only for monthly maintenance visits.

Based on my experience, I will never own a second property.  I will pay to rent a second place for a season if that's what I want, and then I can forget about the maintenance and maybe try someplace new after a few years without the hassle of putting the property up for sale when I tire of it.

Edited January 29 by Vegas_Millennial

[jeezifonly]

The huzz and I live in a location where we have great weather, fairly handy access to beach, mountains, desert, entertainment, shopping, dining, museums and history, and we remodeled our house at the turn of the century (this one) so we wouldn't need a second one. 

We do escape to Maui for a couple weeks (we have a favorite unit in a favorite complex, if it's available, every couple of years) Couldn't afford to buy there, even combining family investing and getting rent for it between uses. 

[samhexum]

If I hadn't inherited the apartment I moved into when I was six months old when my mother died I'd be homeless and my second home would be a second cardboard box.

[+ PhileasFogg]

About a year ago, I bought a small place in the French Quarter to have an escape from rural Mississippi where I relocated to be close to my family.  The economics were easy - monthly costs of ownership (including flood insurance!) are less than a single weekend at my favorite hotel a couple blocks away - where I usually get one of their suites for entertaining frequent visitors that fly in.  Renovation should be complete in 30 days and I’ll start using it for weekend entertaining.   I think it’s anything but a money pit since the savings vs hotels will be 2-4k/month.  Ask me how I feel about it after a hurricane though 😏   Both @BeamerBikes and @jusmeinbr have seen it and can probably attest that it’s perfect for my purpose   

Ironically, my family is now chasing a job and relocating to New Orleans.  So this will become a transitional home while I look for something permanent there.   I will keep this little place as a getaway since it’s easy to entertain friends in the middle of the French Quarter (where Airbnb/VRBO is forbidden) and I can walk to everything (including groceries, pharmacy, bars, restaurants, theaters, etc)

To me, a house in the country sounds overwhelming.  Too many things to maintain from afar and too many things to go wrong.  Since this isn’t a market where real estate ownership is rewarded with assured appreciation in value, I look at every expenditure like this as needing to either make me cash flow equal to my securities or reduce my expenses. 

Edited January 29 by PhileasFogg

[mike carey]

That makes perfect sense, @PhileasFogg. Aside from the bare financial analysis, there's an intangible value in having a place that you can use in a city (or area) you like to visit. It brings some certainty by being available. Of course, that only works if you can manage the finances comfortably, if it's even close, the accounting reality soon intervenes. I have my old family home, two hours from Canberra, and I like having it to go to for breaks, or just to be there for a while. But I do keep reassessing it from both a practicality and a financial point of view.

[+ purplekow]

When I enjoyed skiing, I rented a ski house for the season.  When I enjoyed the beach, I rented a seasonal beach house.  The cost was a bit onerous at the time, but having a house at either of those places would have been much more costly.  Then there is the upkeep of such a house and taxes and other expenses.  I do like the guarantee of having a place to go with a known expense, but I feel as though I can get than same convenience with a seasonal rental. 

However, finding a seasonal rental was not fun and the landlords I had were not actually renter friendly.  When I left at the end of the season, getting a deposit back was an undertaking and usually led to confrontations and negotiations you do not have when you own a place.  

[+ Pensant]

I have a second home on an island NW of Seattle where I escape the heat and humidity. I’ve been going back and forth for 11 years. I also spend Januaries here. As @purplekowmentioned, I have duplicated everything in the vacation house, so I just travel with a small computer carry-on. It’s my own private Avalon.

Edited January 29 by Pensant

[DenverDad]

Kind of - my extended family has a condo in one of the Colorado ski towns that I can use anytime if it isn't being already booked by family or Airbnb clients.  Since I'm the closet "owner" to the property, if there is an emergency, I'm on the hook to drive over to help resolve it.

[+ sniper]

As a single person who is not at all handy, I couldn't justify the expense.

[MikeBiDude]

My second home is spelled b-o-a-t (note NOT the boat in my avatar) and even with my partners the cost per use does NOT pencil out. But, I’ve been on the ocean one way or another on boats since birth, would be hard for me to give up. But, it’s on the list!

[+ poolboy48220]

Growing up the neighbors had a tiny cottage in northern Michigan, we stayed there a couple times. We never did have a second place of our own, nor do I or any of my sisters (even the one married to a rich lawyer) as an adult.

[Luv2play]

I grew up having a family cottage on a nice lake 2 hours north of Montreal in the Laurentian mountains. So it was in my DNA to get a cottage of my own when I grew up. 
My opportunity to get one happened when three gay friends bought 2 cottages in the country and a third property next door became available. 
So I took the plunge at 40 and acquired my own escape from the city.

After my friends died of AIDs I sold my place because it just didn’t feel the same there with all the memories of the fun times we had had for 6 years.

A few years later I acquired a share of my father’s cottage when he went into a retirement home. That lasted 13 years. By the time we decided to sell, I was ready to give up cottage life. But I still miss some aspects like being able to swim just outside and go boating, including sailing.

[Luv2play]

Adirondack chairs overlooking my lake in the Gatineau hills north of Ottawa in 1990.

[Luv2play]

Looking at that photo again, I recalled that a couple of years later I invited my gay swimming team to the cottage. We spent the day waterskiing and had nice bbq in the evening. I’m still swimming and in fact did a few laps today. 

[Nue2thegame]

1 hour ago, Luv2play said:

. I’m still swimming and in fact did a few laps today. 

Hopefully not on that lake. 

[Luv2play]

3 minutes ago, Nue2thegame said:

Hopefully not on that lake. 

Haha. I’m sure the ice is two feet thick on that lake. No, as I said above I sold in many years ago. Today I was swimming in a nice heated indoor pool at my club. Only had to share it with one other person. A nice way to relax after hosting my favourite escort this past weekend. 

[Cooper]

Great topic. I’ve enjoyed reading all the comments. 

I’ve had a 2nd home for many years. When deciding to purchase I knew I wanted to be in the country, on a lake, and not too far from my primary residence. 

Fortunately, I found the perfect place. Not too far, 60 miles, and on a lake. I spend close to 5 months out of the year there. 

I enjoy having my breakfast on the dock and watching the sunrise. I chat with the fishermen and ask about their catch of the day. For lunch I boat over to one of the 2 restaurants on the lake, picking up a meal and eating while drifting on the boat. Dinner is often a barbecue and the night ends with a spectacular sunset.

The area has parks, biking/walking paths, art museums, historic homes, concerts, parades, fairs, markets, shopping, theaters, etc. Never a loss of things to do. Plus, while there I enjoy the company of my neighbors, friends, & family that visits.

When I’m not there I have neighbors checking up on the place…. As for maintenance, the landscapers do most of the work and the marina stores the boat for the winter.

Watching the changing seasons is always a pleasure, especially Fall. 

To answer the original question, yes, there’s additional work and expensive but enjoying life is priceless! 

 

 

 

[Luv2play]

The thing missing from that picture I took on my dock that many years ago was the haunting sound of the loons when they cried at night. I think they were trying to attract mates. 
 

I would see the males in the daytime dancing above the water trying to attract the females attention as well. Maybe the night time cries were of frustration. 
 

 

[CuriousByNature]

4 hours ago, Luv2play said:

the haunting sound of the loons when they cried at night. I think they were trying to attract mates. 
 

Glad to know that strategy works for the loons.  My nighttime crying has never attracted a mate.

[+ poolboy48220]

aren't those the birds Ilya called "stupid Canadian wolf birds" in Heated Rivalry? 🙂

Edited Thursday at 03:44 PM by poolboy48220

[+ Vegas_Millennial]

18 hours ago, Cooper said:

Fortunately, I found the perfect place. Not too far, 60 miles, and on a lake.

I know one other couple who use and enjoy their 2nd home regularly, and it's a similar situation to what you described:  a 60-90 minute drive away from their 1st home and on a lake.

Any further than a 90-minute drive and the 2nd home gets used less and less, as the travel becomes tedious.

Other friends have a 2nd home much further away, and after a few years they want to sell or rent it out because they just don't travel to their 2nd home enough to justify keeping it as a vacation home.

Edited Thursday at 06:23 PM by Vegas_Millennial

[Luv2play]

18 hours ago, CuriousByNature said:

Glad to know that strategy works for the loons.  My nighttime crying has never attracted a mate.

Have you tried dancing on water?

[Luv2play]

7 hours ago, poolboy48220 said:

aren't those the birds Ilya called "stupid Canadian wolf birds" in Heated Rivalry? 🙂

Yup. At the cottage.