We looked into buying a vacation home in Florida years ago, before the bubble, and even then, the numbers just didn't work out. The costs and effort involved in maintaining and renting out a home 1,000 miles away just weren't worth it. I even spoke with several people who already owned vacation properties in the area and they all said the same thing - it wasn't worth it. Most were barely breaking even or losing money. The ones who were making a profit said they spent several hours per day attending to house-related business, something we weren't prepared to do.
We have continued to rent homes when we travel there for a fraction of what owning would cost.
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Steve
* Despite the high cost of living, it remains very popular.
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.
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