Optimal Finance Daily - Financial Independence and Money Advice 3264: Does Owning a Vacation Home Make Sense? by Darrow Kirkpatrick of Can I Retire Yet on Real Estate Investing
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Aug 29, 2025 Darrow Kirkpatrick, a writer at Can I Retire Yet, uncovers the reality of owning a vacation home, highlighting both the emotional and financial pitfalls. He discusses the hidden costs that can quickly turn a dream into a burden and critiques the notion of vacation homes as mere status symbols. Emphasizing the importance of evaluating personal goals, he suggests alternatives like Class B RVs for more flexible getaways. His insights encourage listeners to thoughtfully consider whether a second home truly enhances their lifestyle.
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Jealousy Sparked A Vacation-Home Daydream
- Darrow Kirkpatrick describes biking to a new mountain vacation-home development and feeling initial jealousy at the luxury homes.
- He considered buying but realized he was trying to anesthetize job stress by buying a property he would rarely use.
Emotional Buying Masks True Costs
- Buying a vacation home can be an emotional escape rather than a rational financial choice.
- You may pay year-round for a property you use only a few weeks and let nostalgia drive the decision.
Demand Numbers Before You Buy
- Run real numbers on occupancy and expenses before buying a vacation property and demand full disclosure from the seller.
- Expect low occupancy and significant time spent marketing and managing rentals if you plan to offset costs.