I know, I know. We should all have such concerns! Actually, I don't think we could afford a second house, but that doesn't stop me from liking the idea of having one.
Yesterday, we were looking online at properties in eastern Pennsylvania (Stroudsburg & the Poconos region). We saw a couple of nice places, but the challenges are daunting.
First of all, I don't know that we could swing the payments in addition to our current mortgage. More importantly, I started considering the logistical issues.
One that comes to mind is this--suppose the heat goes out in the middle of the winter while we're 100 miles away. First, how would we even know? Is there some kind of remote monitoring equipment that we could install? Of course, if we didn't know, all of the pipes would burst!
Second, even if we knew about such a thing, what would we do about it? Would we have some local person on call who would have a key to the place?
This is just one thing that comes to mind. There are plenty of other issues I could think of.
Maybe we should just stick to day trips and be happy with one piece of property. I just love the idea of a "weekend place." Eh, it's probably more trouble than it's worth.
2 comments:
Three actually is a heat monioring system you can install. Amd we do have a local handyman type person to take care of all of the little things for me.
The biggest problem with having a second home are all the little expenses that pile up. Exterminator (because the bugs will move in), utilities, repairs and upkeep, insurance, taxes...
If ours wasn't in trust, it would put us in the poor house. Of ocurse you can always rent it out and make money. ;-)
Yes... I've fantasized about owning property elsewhere and then I become a nervous wreck imagining all the things that could happen to it when I'm not there.
Plus, I don't need a car in Manhattan, and would have to have one for such an existence... gas, insurance, parking and car payments...
Nah.
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