Question to those with Lake House

[Tailgater]

My wife and I are thinking about purchasing a lake house about 1 hour from our current home. But I am worried that we would never use it with all of our weekend activities: kids' sports, work, church, and travel.

[14ledo81]

What's the question?

[18rounds]

Like most things... It depends. I used to sell lake homes. A few points... 1. Don't go any less than 1 hour away. Closer than that and it's hard to get away. You can run back to the office if they call etc. 2. Be honest with yourself about how much you will use it. If you are only going to get up to the cabin a couple times a year you would be better off renting a really nice place for those times and not have the expense. 3. Be honest with yourself about the cost. Taxes, mortgage, repair, utilities, maintainance (you don't want to go up there every other weekend and spend the whole time mowing grass) Make sure it is well within your budget. A lake home can be an asset that serves your family well for decades or even generations. It can grow with you as you go through the stages of life. If it is a fit for your family you and your kids will have thousands of memories that are staged at the cabin. Good luck.

[boogielicious]

My wife and I are thinking about purchasing a lake house about 1 hour from our current home. But I am worried that we would never use it with all of our weekend activities: kids' sports, work, church, and travel.

We have a cottage about 1 3/4 hours away that is near the beach in RI.  We bought it when my son was four and used it a lot the first few years.  When he got doing sports, use went down during the seasons but we used it in the summer.  In his teens, he was somewhat difficult about going even though he could bring friends.  Now that he is in college, we use it more.  He goes to college 20 minutes from the cottage and is starting to use it as well.  When we retire, we will most likely spend the summers there.

I think it is a good investment if it is affordable for you.  It becomes a great getaway place for the family.  I relax there and love the quiet mornings, walking the dog on the beach and the general flavor of the area.  It also allows me to play different golf courses than I do when I am at home, which adds to the variety.  You may make friends who also have a cottage there as we do with our cottage.

[Patch]

We own a house in the big city, and we own a cabin at the lake. I built both of them. Where do we spend most of our quality time? In a class A motor home because at this point in our lives we like to travel. When not using the MH, we live in the lake cabin, while keeping the city home leased out.

You just need to figure out how you want to live, now, and/or later on. If you can justify the cost of the lake house you are considering to buy, then by all means do so. It should be considered a long term, profitable investment for you, and your entire family.

If there are fish in the lake, then I would buy it.

[boogielicious]

We own a house in the big city, and we own a cabin at the lake. I built both of them. Where do we spend most of our quality time? In a class A motor home because at this point in our lives we like to travel. When not using the MH, we live in the lake cabin, while keeping the city home leased out.

You just need to figure out how you want to live, now, and/or later on. If you can justify the cost of the lake house you are considering to buy, then by all means do so. It should be considered a long term, profitable investment for you, and your entire family.

If there are fish in the lake, then I would buy it.

"Stock the pond and HE will come." - A Lake of Dreams starring Kevin Costner.