Wednesday, May 23, 2007

2nd Homes- Not All They're Cracked up to be

My mom once lamented that we never had any property besides the house we lived in. I'm a big fan of having other properties as income generators. But her idea was always something like a cabin in Prescott. My dad once lamented not owning a condo in Rocky Point.

This article in the NY Times talks about some of the hassles of owning 2nd homes. You end up spending so much time maintaining them that you don't get to enjoy them. Plus you think that entertaining others will be a big side benefit, but that in itself is a chore. Not to mention that you're now wed to one single place for your vacations (at least mentally. Some in the article report feeling guilty if they want to go somewhere else).

I've experienced some people having problems with their second homes. A house in Rocky Point needs water to be refilled, but first you might have to clean the tank. The sea means you have to clean the windows all the time, and you have to clean up sand all over.

Better to, as I've mentioned before, maintain mobility and just go where you want for vacation. If you only take a few vacations a year, you can go on lavish vacations for the same amount you'd spend on vacation homes.

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