Well another May long weekend has come and gone. Unfortunately, the weather was not the best. Again. Here’s hoping it leads us to a wonderful summer.
Have you gotten to the time in your life where you are thinking about a second home? A place to get away from it all? A place to relax, unwind and have a little fun?
You have done the camping thing. First the tent, then the tent trailer. Next you got a truck & camper and finally the travel trailer. Maybe you’re not quite ready to give up the trailer just yet, but the thought has crossed you mind that it would be nice to have your own spot. Somewhere that you can park it and not have to leave on a Wednesday to get a spot for the long weekend. The gas prices just keep climbing and the roads are overcrowded with RV’s and getting there is a pain.
Or, you are ready for a cottage “at the lake”. Someplace where you can go to get away, without dragging the house behind you. Somewhere you can go, turn the key, open a cold one, sit back and relax. Without all the packing, unpacking, racing around and all that goes with “camping”.
Let’s face it. A recreational property is not for everyone. There are costs. First there is the purchase price (more on that later) and then there are the ongoing costs. Taxes, fees, maintenance, utilities and more. So, if you are just getting by looking after one property, then owning two is not a good option. However, if you have the extra income, an investment in a recreational property can be a wonderful idea and may be for you.
Next week I’ll discuss what everyone wants to know about recreational property. The investment side. And it may not be what you think, so stay tuned....