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Old 07-27-2007, 12:49 AM
 
Location: Noo Yawk, Noo Yawk
625 posts, read 1,357,122 times
Reputation: 626

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Hello all,
This is a sort of survey thread. Just wondering about the dual-location lifestyle...

I live in NYC and have long had the dream of owning a weekend home in the country, but without giving up the city apartment. My hubby and I have talked about how we can manage such a lifestyle with both of us working in the city and, obviously, we would need to find a house within commuting distance to NYC. We have quite a way to go before we could ever afford to do that, but we're planning now.

However, there are some really great places we have visited that are much further out of the NY area where we'd also be happy to own a home -- and that would mean living there longer than a weekend to make it worth the trip. I know there are people, who are not retired and do manage living in two places. Long ago, I worked one summer in Nantucket and met many people who "summered" there and lived elsewhere during the rest of the year, but most of them were incredibly wealthy. Either that or they held a particular occupation that the community only needed during the summer months, when its population swelled.

So-o-o-o.... I am asking those of you who do have a second home - how do you do it? What kinds of careers and schedules you have that enable you to do this and how much traveling you do between homes? Are most of you entrepreneurs? In what regions are you living? Do you go back and forth each week, just a few times a year, or by seasons? And do you have children that affect your "schedule" or are you child-free (like us)? I'm hoping this info will help us figure out ways to implement this plan, even though we're not rolling in dough.

Thanks in advance for your response!
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Old 07-27-2007, 05:31 AM
 
Location: NJ
12,284 posts, read 31,819,703 times
Reputation: 5226
I would *love* to have a home on the Jersey Shore, but considering a shack that went for $100K 10 years ago now is at least $750K (no lie, but this the specific place I'd want to go, it's not everywhere at the shore) it's not happening.

my sister in law has a condo at the beach (small 3bdrm, would now list for $850k ), her DH is a retired CFO for a major publishing co. so there's no shortage of cash there. they "summer" down there and live elsewhere in NJ during the off season. when I go to visit her i see that most people who live down there bought before the real estate boom, they are mostly ordinary folk who bought cheap - one family with 3 kids stay the summer, mom's a teacher.

if I had the $$$, I'd probably go almost every weekend and stay a few weeks (I work at home mostly so I can work anywhere) and maybe go for the holidays.

i'm dreaming along with ya, keep playing the lottery!
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Old 07-27-2007, 10:31 AM
 
Location: Noo Yawk, Noo Yawk
625 posts, read 1,357,122 times
Reputation: 626
Default Second home

Quote:
Originally Posted by tahiti View Post
I would *love* to have a home on the Jersey Shore, but considering a shack that went for $100K 10 years ago now is at least $750K (no lie, but this the specific place I'd want to go, it's not everywhere at the shore) it's not happening.
I have relatives on the Jersey shore -- they bought their craftsman style bungalow in the late 60's and winterized it. Their house is a wonderful 3-br with a stone fireplace and a good-sized yard. I have many fond memories of visiting them each summer as a child. When I was little, it was like going to the country - we walked barefoot everywhere. Now there's not only a sidewalk, but they are surrounded by MacMansions -- all crammed into these tiny lots. It sure has changed, but the Jersey shore is still a very nice goal for a second home.

I'm glad you mentioned teachers - I'll bet many families who have a summer home include a teacher or two.

Anyone else care to share how you manage two homes?
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Old 07-27-2007, 07:07 PM
 
Location: Red Sox Nation
668 posts, read 2,463,174 times
Reputation: 444
We live in the Boston suburbs but are looking for a second home in the mountains of NH. I think we can do this because 1. it is less than a 3 hour drive from us. Anything more than that would make weekend trips pretty difficult 2. I stay at home with the kids, so I am free when they are, and 3. my husband has the luxury of working from home. As long as he has connectivity and his cell phone, he is okay. We are looking for a condo, because we don't want the worry and upkeep of a single home (not to mention the expense).
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