Second Home

[tyketime]

Mrs Tyke and I missed the boat 10 years ago about buying a house at the beach before real estate values took off. I've been kicking myself ever since. But with the recent pullback/slowdown, I'm wondering if now is the right time to reconsider. I'm of the opinion that mutual funds and stocks should make up a large portion of our overall portfolio of investments, but with the way the markets have been lately, I don't think it unreasonable to divert some of that savings into a vacation home instead. We would not rent it out with the idea of using that as a supplemental income. We live an hour or so away from the Jersey Shore, so I could see us using it most weekends of the summer, and fairly frequently in the offseason as well.

Any thoughts to encourage/discourage us one way or the other?

[johnnyshaka]

If you have the cash, now is definitely a good time to get into that market especially if you plan to keep the property long term.

[flere-imsaho]

If you have the cash, now is definitely a good time to get into that market especially if you plan to keep the property long term.

Agree with this. Especially since you seem to know the area, know what you're looking for specifically, and intend to keep the property long-term. I can't imagine a better time to make such an investment.

[Mustang]

With global warming, it will probably be under 10 feet of water here in a few years so, I'd just plan where the new beach will be then and buy cheaper.

[tyketime]

With global warming, it will probably be under 10 feet of water here in a few years so, I'd just plan where the new beach will be then and buy cheaper.

Curse you for revealing my diabolical plot :mad: I plan to buy three blocks back from current ocean-front so that mine will be prime property some year...:popcorn:

[JediKooter]

You could always put the house on stilts.