Scott Larmer (Larmer)
Junior Member
Username: Larmer
Post Number: 66
Registered: 5-2003
| | Posted on Tuesday, September 09, 2003 - 10:52 pm: | |
Hypothetical q as I am in no position to purchase a house...but this is something I've pondered since I was in college...
If one wanted to have a vacation home, wouldn't it be better to buy that house first and keep renting an apt/condo/house? I suppose the argument I see is that vacation property values will go up over time...and if I wanted to get in on a particular area, I should do it at 30 rather than 40.
On the other hand, you're probably not going to visit this second home very often, and there may be other things you want to consider. There may be size issues (as you don't know how large your family will be, if you will want/need to account for in-laws, etc). The other issue I see in waiting is that you may have the additional income a few years down the road to buy something nicer/closer to water.
I go back and forth, but the thought of getting in on any kind of vacation property sooner rather than later makes more sense. If I need a larger house in 10 years, I shouldn't have too much of a problem selling the smaller house (there are probably other first time buyers like me or perhaps an investor).
Thoughts/previous experience with a similar issue?
Thanks |