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2011-12-30 1:41 PM
in reply to: #3961695

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Master
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Minnetonka, Minnesota
Subject: RE: Vacation homes versus vacations

We are very lucky to be able to do both.  We have a cabin on a lake near Brainerd, MN and get to take several nice vacations every year.  In fact, we are leaving tomorrow for a week in Costa Rica!  We are going with 2 other families and renting an 8 bedroom villa thru VRBO that comes with a "staff" and is all-inclusive - can't wait.  We also have a week timeshare through Marriott and like the program and get good use out of it.

Long term we may buy a retirement place somewhere warm - Hawaii or the Southwest US - but would not live there year-round and would probably rent it out when not in use.  I am reluctant to buy outside the US for some reason - sounds difficult and possibly a lot of work and worry, but haven't ever really looked into it so could be swayed.



Edited by ejshowers 2011-12-30 1:45 PM


2011-12-30 2:00 PM
in reply to: #3961695

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Payson, AZ
Subject: RE: Vacation homes versus vacations
Here is where I could see me having a "vacation home".  I use to live in Oregon and went to the mountains every weekend.  Pretty much without fail.  Snowboarding, x-country skiing, and snowshoeing in the winter and hiking, and mountain biking during the summer.  I would have loved to have had a condo or cabin on the mountain.  That would not have prevented me from taking the vacations I did take.  The vacation was a 1 or 2 time a year thing.  The mountains were every weekend. 
2011-12-30 2:04 PM
in reply to: #3962389

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Champion
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the colony texas
Subject: RE: Vacation homes versus vacations

Just because you have a vacation home doesn't mean you can't take other trips.  It's not really a choice between the two.

Having a place reasonable close by that you can take a quick mini trip to is nice.  A handfull of my co-workers have vacation homes/condo's at various places. {colorado/Florida} and rent it out while they are not there. So it's almost an investment.  10-15 years from now if they are truly tired of going there, they can rent it out all the time or sell it.  

2011-12-30 2:21 PM
in reply to: #3962400

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Subject: RE: Vacation homes versus vacations
Gaarryy - 2011-12-30 2:04 PM

Just because you have a vacation home doesn't mean you can't take other trips.  It's not really a choice between the two.

Having a place reasonable close by that you can take a quick mini trip to is nice.  A handfull of my co-workers have vacation homes/condo's at various places. {colorado/Florida} and rent it out while they are not there. So it's almost an investment.  10-15 years from now if they are truly tired of going there, they can rent it out all the time or sell it.  

For me, it would be a choice between the two.  Even if I could afford both options, I wouldn't have the time for it.   At least not how I would like to use it.   Yeah, if I had a cabin or whatever we could go a few times a summer and also do the vacations.  But time away from home would be limited to that. 

2011-12-30 2:22 PM
in reply to: #3962361

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Subject: RE: Vacation homes versus vacations
ejshowers - 2011-12-30 1:41 PM

We are very lucky to be able to do both.  We have a cabin on a lake near Brainerd, MN and get to take several nice vacations every year.  In fact, we are leaving tomorrow for a week in Costa Rica!  We are going with 2 other families and renting an 8 bedroom villa thru VRBO that comes with a "staff" and is all-inclusive - can't wait.  We also have a week timeshare through Marriott and like the program and get good use out of it.

Long term we may buy a retirement place somewhere warm - Hawaii or the Southwest US - but would not live there year-round and would probably rent it out when not in use.  I am reluctant to buy outside the US for some reason - sounds difficult and possibly a lot of work and worry, but haven't ever really looked into it so could be swayed.

We are not all made of plane tickets, Mr. whose wife formerly worked for an airline...   Your situation is very lucky and ideal.

2011-12-30 2:29 PM
in reply to: #3962342

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Runner
Subject: RE: Vacation homes versus vacations
BikerGrrrl - 2011-12-30 2:23 PM

Scout7 - 2011-12-30 12:41 PM
bootygirl - 2011-12-30 12:08 PM

Scout7 - 2011-12-30 10:07 AM Why go anywhere for vacation? Stay home, save the money, maybe spend it on projects around the house or on gifts for yourself.

I am doing that right now, and boy, I wish I were in a shack on the beach or anywhere instead.    It has just pointed out to me that I really don't like where I live.  

I've never had that issue. Most of the time, when I've been on vacation, I wish I were back home doing something.

I love my home and my community and am a home body when I am in town.  

However, I yearn for different experiences too.  I love to see new things, both famous and ordinary, try new food, go shopping for things I can't get at home, learn a little history, test myself, be totally disconnected from my real life responsibilities, spend real time with my husband or friends, experience differences in nature, soak in the chaos and lights of a big city, marvel in the world's wonders, get that feeling of "wow, people who I read about in history books LIVED here", etc.   Some of that I can achieve at a vacation home, none of that I can achieve at my main home.    I am always glad to return, though.  Often so I can find a place for the new art I bought on the trip and start planning the next one.



And this highlights the difference.

People with vacation homes are not necessarily going on vacation to explore and learn and see new things. They are going on vacation to simply get away from their normal lives, unplug, and generally relax, chill out, whatever.

If you get to the point where "vacation" means sitting around at the beach or lake, and taking things slow and easy, then a vacation home makes sense. Otherwise, you need to travel and have options.

Me, I don't enjoy either. I've seen enough of the world as it is, and I can't sit still and relax. So I prefer to stay home and do projects.


2011-12-30 2:35 PM
in reply to: #3962439

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Subject: RE: Vacation homes versus vacations

Scout - I agree with your assessment and this thread has helped me better understand why folks would do the home thing. 

I hadn't considered this third alien species of "not interested"   But, fair enough.

2011-12-30 4:01 PM
in reply to: #3961695

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Pro
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Twin Cities
Subject: RE: Vacation homes versus vacations

We don't have a cabin, but i can certainly see the appeal. I love travelling and going on trips, but I also love being up north. Being able to head up to a cabin for a few days at our convenience is a nice thing, IMO. We spend a lot of time up there anyway, so this isn't a big deal.

We would probably share one with Pat's siblings when we get around to getting one--simply to split the maintenance.

I would like to have a second place in France...pref. in NIce, but the airfare is expensive to go back and forth, plus, we'd only be able to go once a year or so b/c of vacation time. But when we're older and have more time, sure.

My parents have a second home in FL, and spend half the year there (August, and then Jan-May).

2011-12-31 9:41 AM
in reply to: #3961695

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Expert
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Alexandria, MN
Subject: RE: Vacation homes versus vacations

We have considered buying some land up north and building a small house/cabin on it.  For us, the trick would be that it has to be far enough away that we wouldn't want to just quick drive home for something, yet close enough that we'll get there often enough to make it worthwhile.

I've fantasized about having a condo or house somewhere tropical, like Bahamas, Caymans or the like, but again there's the problem of how often we would go, and the added cost of plane tickets and upkeep and security.  Plus, whenever we decide to vacation in the islands, I always decide to go somewhere we haven't been yet, and have yet to return to the same place twice no matter how great it was.

Having a house or condo in one of those places and renting it to cover costs is a good idea, but not sure it's worth the hassle.  Maybe I ought to look into that.

2011-12-31 10:07 AM
in reply to: #3961902

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Elite
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Subject: RE: Vacation homes versus vacations

Scout7 - 2011-12-30 11:07 AM Why go anywhere for vacation? Stay home, save the money, maybe spend it on projects around the house or on gifts for yourself.

Why do you hate the travel industry?  

2011-12-31 11:04 AM
in reply to: #3961695

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Expert
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Colorado Springs
Subject: RE: Vacation homes versus vacations
We have recently joined the Disney Vacation Club, basically Disney's time share system.  We love Disney World and go almost every year.  They also have resorts in Hilton Head, SC, Vero Beach, FL, and Hawaii, plus access to other places  around the world if we want variety.  We bought on the resale market which was much more reasonable than buying direct.  We know that we want to vacation 3+ weeks per year, mostly in winter to escape the cold.  


2011-12-31 3:20 PM
in reply to: #3961695

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Expert
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Alexandria, MN
Subject: RE: Vacation homes versus vacations
I forgot to add that I really ought to buy a vacation home in Kona, with all the time I'll be spending there every year winning the world championships.  Laughing
2011-12-31 3:52 PM
in reply to: #3961695

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Expert
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Scottsdale, AZ
Subject: RE: Vacation homes versus vacations
Most people I know with vacation homes have the financial well being to still take vacations whenever they want and to wherever they want.  That to me is the type of person that owns vacation homes.  I'd love to be in that place someday because I can think of a location or two that would be awesome to have a home in however, if it were to come at the expense of taking vacations to unexplored lands...no thanks.  I've always had the expectation that in order to have a vacation home you would own your own home outright and have no mortgage on the vacation place.  I'm not saying that's how it is for everyone but if you're paying on both places it just seems silly.
2012-01-01 9:51 AM
in reply to: #3961695

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Expert
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Madison
Subject: RE: Vacation homes versus vacations

We own a vacation condo on St. John in the US Virgin Islands.  We purchased it a little over a year ago because we found a place we absolutely love and kept going back to.  We also rent it out on VRBO to cover the costs and as the years go by, it will become more of an investment.

My husband is not much of a traveller and I love to travel but I have lived in France and Japan, we have both traveled in the US and a bit in the Caribbean and now I just want a place to go to that I know and that offers peace and relaxation - an escape from home.

We do have a mortgage on our home and also one on the condo, but with our rental program, we have been able to cover all our costs of the vacation condo and I still spent a month there last year and hope to do the same this year.  We have an on-island management company and they handle meeting guests, cleaning and maintenance which keeps it incredibly easy.

We love St. John, our kids do too - we typically get up when we want, go for a run/walk on the hills, then pack up and head to the beach (usually a different one each day) where we relax with a book, enjoy excellent snorkeling and maybe a rum drink or two.  They offer a great road race in February called 8 Tuff Miles, a beach to beach power swim over Memorial Day weekend, a triathlon usually in September, so there are things for those who want to stay active.

Here is the link to our place - I have an opening starting tomorrow if anyone wants a last minute trip to paradise!

http://www.vrbo.com/328461

2012-01-02 10:14 AM
in reply to: #3961905

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Master
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Rural Ontario
Subject: RE: Vacation homes versus vacations

I just can't justify committing to a vacation home.  I'd like to think I'm a fairly mobile modern professional (worked on 3 continents in the past 10 years) so committing to a specific location and planning to be there 'till the end of my days seems a stretch. Maybe after I retire.

For now there are too many places I still want to see or to see again. 


2012-01-04 10:14 AM
in reply to: #3961695

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Master
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Crab Cake City
Subject: RE: Vacation homes versus vacations

personally, I dont know if I would buy a vacation home now, but my g/f and I plan on buying one when we retire and moving to the beach. We go to Dewey Beach every summer and it has a special meaning for us so when we retire (20yrs) we would like to buy property down there for the summer. In the mean time, we will continue to spend 1 week a summer down there but also travel to other places.



2012-01-04 10:41 AM
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Champion
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SRQ, FL
Subject: RE: Vacation homes versus vacations

We have a family cabin (several of us use it) in NC.  Been going there since I was 3 years old.  It's a nice place to get away and it's familiar.  However it can also get old from time to time.  I like to explore new places.

However, lately I have had REALLY good luck with VRBO.com.  It's a list of homes/condos for rent all over the US.  We rented a HUG house in Idaho and Montana when I did IMCdA.  Also got a house in Estes Park a few weeks ago for $90 a night.  This was the bottom floor of a million dollar plus house, about 2000+ SF with a washer/dryer, full kitchen, fireplace etc...  The place in ID & MT was equally cheap (was about $200 a night for the ID house but wash shared with 3 families and $150 a night for the MT house, split 2 ways.  Both houses were 3000+ SQF)

$90 a night?  You can hardly get a cheap Motel 6 for that...

2012-01-04 12:07 PM
in reply to: #3961861

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Master
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ann arbor, michigan
Subject: RE: Vacation homes versus vacations
BikerGrrrl - 2011-12-30 10:54 AM

gearboy - 2011-12-30 9:39 AM

We have been talking about getting a vacation apartment next year after the kids are done with college. That would allow us to not be locked into place like a house/condo/shack does, and to see how often we actually use the place.

For me, I grew up in Jersey, and miss being able to take a short trip on weekends to the shore. So after nearly 30 years of being landlocked, the deal is to eventually get a place right on the beach, or at least within walking distance. I like to go diving and of course biking and running are good there as well. As long as there are bookstores, libraries, and access for her Kindle, mrs gearboy is happy anywhere.

So, why not a hotel?



It is a very different experience to visit your own place, with your own stuff, in an area that you love to be.

We live in Southeastern Michigan but have a small condo on lake Michigan up by the Sleeping Bear Dunes. My wife always loved vacationing up there and I liked it......but once we bought our own place up there it changed it for me. I love going up now more than I ever did when we just rented a hotel/house. I have clothes up there, and a boat and vacation "stuff" that we otherwise would have to bring with us every time. Instead, it is all there waiting for us. I can leave work and head up without packing a thing (except for maybe some workout clothes and my bike--it happens to be tri training paradise as well but that is another story).

It is one of our favorite places to be and we go there as often as possible. I think the eventual plan will be to move there full time when the kids are out of the house. We still do other vacations but not as often as we once did. We are happy heading Up North to our place.

Jason
2012-01-04 12:31 PM
in reply to: #3961695

Master
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Houston, TX
Subject: RE: Vacation homes versus vacations

My vacations tend to be in spots or doing activities that aren't really conducive to a vacation home.  My wife and I typically view our sleeping arrangements on vacation as just that, the place where we sleep.  The rest of the time we tend to be out and about.  Half of our vacations aren't even spent sleeping in a hotel room, since we like the outdoors so much, so we backpack and camp most of the time.  I've considered the same as you with maybe a house on the lake relatively close or something along those lines for weekends.  I have decided against it since I just can't make it make sense financially with the amount we would even WANT to use it.  For what the mortgage + maintenance + taxes would be on a monthly basis, we could just rent out a condo/house/hotel for a weekend.  I know we wouldn't use up our vacation time to go to the same place we've been a hundred times.  We want new experiences every chance we get.

  Growing up my best friend had a lakehouse that I spent virtually every other weekend at in the summer and it was a lot of fun.  Talking to his dad at his mom's birthday party, the lakehouse came up and I asked him if he missed it and he said there wasn't one year outside of the first year that he didn't want to sell it.  He said it was a major headache to keep up and just a drain in general on the pocket book but kept it until all of us kids graduated because it was so much fun for everyone.  Their third house was in the mountains and that one he kept and they eventually retired to.  Now they spend their summers up there and their winters down here.  They had the same maintenance costs and the ski house was not even remotely within driving distance for a weekend.  But he has 2 completely different opinions depending on which vacation home you talk to him about.

2012-01-04 12:39 PM
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Subject: RE: Vacation homes versus vacations

My sister and brother-in-law bought a townhome in a small ski town in Vermont.

He skis, she snowboards. They actually end up visiting fairly often even during the snowboarding off-season. There's good hiking. They used to go up at least 1-2x a month even when they didn't own the townhome, and stay at a hotel. With this option, they can rent out the townhome when they aren't using it (the HOA organizies it), and when the whole family goes up, it's no extra cost or hassle.

They live in an urban Philly suburb, and he dreams of getting transfered full time to VT - which is a possibility in a few years. So, I think that pushed the decision along a little.

2012-01-04 6:54 PM
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Elite
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Subject: RE: Vacation homes versus vacations
We have a main house where our children were raised and we have a lake house that is about an hour from home. We go to the lake house a lot on weekends and plan to retire there. It is my place so it exactly the way I want it. The house is my design and I did much of the constriction. I have the dock that I designed and the boats that I bought. I spend a lot of my free time working on it. I prefer to be there than anywhere else on earth.It also is the magnet that pulls the Geezerettes home. The best weekends are when they are there with friends. JWKMH and I get to host some of the most interesting people on the planet (to me).We also have a condo in Atlanta. This is JWKMH'S place. We will retire there also. We love midtown Atlanta.J and her siblings have a floor of four condos in Daytona. We can take large groups there like the family beach week. We took all our high school friends for a 40th reunion this year.Property is an investment in fun. We have this fun basically for free.On the other hand, I have only taken four "vacations" in a lifetime.TW


2012-01-04 9:40 PM
in reply to: #3961695

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Subject: RE: Vacation homes versus vacations

Try and do the best of both worlds. I bought a condo on a lake and they rent it for me when I am not there. I can use it whenever I want. I make a profit every year on it after all costs and make about $5-6k - you can use this for a nice trip.

There is a HUGE market for these at low costs right now since not many people are buying.

2012-01-05 3:00 PM
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Subject: RE: Vacation homes versus vacations

My in-laws bought a lake house 2 summers ago and at first I thought it was a silly idea but now I love love love it. 

Get of work drive 45 min and chill for the weekend.  No TV No interweb.  Just fish ski run bike and roast mellows.  I miss it when we are not there.  It helps that the house they bought in nicer than the house I own. 

They have to money to go one vacation when ever where ever they want.  The house is an excuse for the family to be together more often.  It works very well. 

It helps my ows a lot when I am in the water 4 days a week in a large body of water.  I found a cheap kayak at a garage sale an can usually con someone into spotting for me.  No way I would swim without an escort. 

I bought a camper and consider that my vacation home. 

 

 

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