Buying on Winnipesaukee: An emotional decision or a logical one?

MeredithMan · 04-21-2015, 08:29 AM

One key element is to make sure that everyone in the family is on board with this decision. If your kids and spouse are not as committed as you, then there is potential for conflict ahead.

Also, you'll need to think through whether this will be an "investment property" that you occasionally use yourselves, or will this be "your 2nd home". Two totally different things. One you are emotionally attached to and one you are not.

You may also want to think through your lifestyle. Does your family like to travel and take exotic vacations? You may have a compromise there once you have the 2nd home. In our case, we have no interest in traveling and spend all our vaca time at the lake. We have friends who love to travel and couldn't imagine "being chained" to a 2nd home.

And of course, the financial piece is a big one. You don't want to make this purchase and then be "house poor". You also don't want to be ruined if things go to heck and you lose your job or have a medical catastrophe.

I am biased in my view from having spent 40+ years on the lake, but if you can afford it and the family is on board, do it!!

04-21-2015, 08:29 AM	#11
MeredithMan Senior Member Join Date: Aug 2013 Location: Bedford, NH; Meredith, NH Posts: 963 Thanks: 263 Thanked 818 Times in 335 Posts	Make Sure the Whole Family is on board... One key element is to make sure that everyone in the family is on board with this decision. If your kids and spouse are not as committed as you, then there is potential for conflict ahead. Also, you'll need to think through whether this will be an "investment property" that you occasionally use yourselves, or will this be "your 2nd home". Two totally different things. One you are emotionally attached to and one you are not. You may also want to think through your lifestyle. Does your family like to travel and take exotic vacations? You may have a compromise there once you have the 2nd home. In our case, we have no interest in traveling and spend all our vaca time at the lake. We have friends who love to travel and couldn't imagine "being chained" to a 2nd home. And of course, the financial piece is a big one. You don't want to make this purchase and then be "house poor". You also don't want to be ruined if things go to heck and you lose your job or have a medical catastrophe. I am biased in my view from having spent 40+ years on the lake, but if you can afford it and the family is on board, do it!!