Quote:
Originally Posted by Juiced06GTO
I was all in on buying a second home on a lake in NH, preferably Winni, but lately I find myself struggling to find the time to keep up with my primary home and 3 young kids running around deeply involved in sports, and nearing the end of my current mortgage, the thought of taking out another one for the limited amount of use and the added upkeep is becoming less appealing unfortunately...
The crazy inflation in costs certainly hasn't helped and I would venture to guess that a lot of other people in my age bracket (41) are feeling the same way.
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One thing I would point out is the increase in value over the time you own it. The good news is lakefront property seems to increase in value faster than non lakefront property inflation, the bad news is you can't spend or pay bills with equity.
I put a lot of money into improvements on the Gilford home I have. However, 20 years after I bought it I could sell for so much more. The math works out that I think I could get beck everything, purchase price, improvements and even taxes and insurance for 20 years. But to get that I would have to sell, and then what.
10-31-2025, 02:19 PM
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