where would you look for a vacation home within driving distance of the triangle? (Gaston: real estate, renting)
Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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When we lived in Atlanta, we had vacation condo at St. Simons Island, Ga. It was a great buy, right on the beach, perfect for our family and fun--about the first 3 times. Then the 5 hour drive became too difficult, the assessments became ridiculous, the repairs from horrible renters, change in management companies, changes in rules about pets, etc make it a complete nightmare.
Once we replaced the carpet in the bedroom and we came in only 3 days after the new carpet was installed to find iron imprint on the new carpet. Housekeeping failed to note it so nothing could be done to charge previous renter.
We ended up spending our "vacations" shopping for new furniture, make minor repairs and worrying about our property. Then our children became teens and didn't want to go away with their parents (but they desperately wanted to take their friends to the beach)
We sold it in 2007 and did OK but not as well as if we sold it only a year earlier. We declared we would never buy another vacation home if we had to rent it out. It's just not worth all the hassles.
has anyone bought a property at myrtle beach instead? i was looking awhile ago and i seemed to recall that if you were's SC residents, they imposed some kind of additional property tax on owners outside of SC....don't recall if that's still the case.
I have quite a few friends and family members that own vacation rentals. The ones that enjoy it live in the same town as the rental (they use the property solely for income, not for relaxation). The ones that try to use it as *their* vacation rental end up hating it, for the same reasons no kudzu expressed here.
I'm the contrarian, apparently. I'd go mountains. Prefer someplace within a 3-hour drive, so maybe Boone/Banner Elk, some of the closer areas in VA or WVA, or even a somewhat remote area like Marion. But getting closer to Asheville would also have some appeal.
Our family has a house at the beach. My advice to those wanting a vacation home at the beach - stock up on all your hurricane supplies and pay a lot for insurance. It's a major pain to deal with that stuff every year and to deal with damage from major storms.
I enjoy the mountains more than the beach, anyway, but I know many folks will feel the additional work (and expense) for a beach house is worth it. For my part, unless you plan to spend more than an a full month at the beach, it just seems like a waste of time, money, and effort.
However, since I noted beach home are more expensive than mountain homes, I should also note that in their favor they have traditionally appreciated better than mountain homes. The 90s was a great time to invest in beach property, particularly if you sold around 2007. Not so much now, but it may well pick back up as a good long-term investment.
Find one decorated to your style through VRBO; you can negotiate with the owners as far as price in this economy.
Go a few times a year if you can afford it. Start off with off-season times around the on-season times.
Pretend it's your home. (Some accept pets.)
No mortgage, no maintenance, no worries. You can go to different beaches in different years. You won't get bored.
Just enjoy!
(But if you still have your heart set on buying a vacation home, the experience will give you an idea which beach you like. You should spend your life enjoying your life -- and the beach, though, and not just dreaming about it. )
I agree. I don't understand the concept of buying a vacation home. Anywhere worth visiting is going to have plenty of options for temporary accommodations.
aldamon--I feel the same way about timeshares! I don't see how they are "cheaper" than just getting a hotel or renting a house for two weeks each year.
But I suppose if you live only an hour or two away, and can go EVERY weekend, then buying an actual vacation home may be worth it.
Some timeshares, even in NC, are only $1 on eBay, and all closing costs are sometimes paid by the seller. Then you only pay the annual maintenance fee. You get one week a year in the timeshare.
I am tempted because if we had a timeshare we would be much more likely to get away that one week a year; we'd be pressured to make use of our maintenance fee, which is usually slightly lower than a weekly rent. I like the idea of being pressured to take a vacation.
Of course, the timeshare owners are just trying to get out of their maintenance contract obligations, and eventually, we'd be looking to sell the timeshare for a dollar as well.
Renting seems to be the best option unless you have a lot of disposable income.
Quote:
Originally Posted by Special_Guest
aldamon--I feel the same way about timeshares! I don't see how they are "cheaper" than just getting a hotel or renting a house for two weeks each year.
But I suppose if you live only an hour or two away, and can go EVERY weekend, then buying an actual vacation home may be worth it.
But I suppose if you live only an hour or two away, and can go EVERY weekend, then buying an actual vacation home may be worth it.
Yeah, that's always been the issue with us. We actually looked into buying on Topsail Island but luckily came to our senses. Also, the answer to the OP's question would be EVERYWHERE for us, so why get stuck with one?
Some timeshares, even in NC, are only $1 on eBay, and all closing costs are sometimes paid by the seller. Then you only pay the annual maintenance fee. You get one week a year in the timeshare.
or, some are like wyndham where you have timeshares that are available year-round in every locale that you could imagine. i used to be staunchly against the idea/cost of a timeshare, but i have a friend who has a VIP ownership interest in wyndham & she is very generous with her timeshare for weekends away for friends or couples. she essentially gets a certan number of points per year to use. each time she stays, points are deducted for that amount. she knows how to work the system AND has the flexibility in her work schedule to do so. this is where wyndham & other timeshare resorts make their money -- on peopel who pay but don't use them!
for example, we went to myrtle beach for a birthday weekend shindig for her. she got 2 presidential suites (oceanfront & extra amenities!) + 3 other 2-BR units for a steal because sh eknew to use the off-season points, have different check-ins (weekdays versus weekends).
for me, there's no way that i could justify the cost but she has the lifestyle to do it. i can see why retirees or those with a more flexible lifestyle & budget could use it to their advantage to see the world since wyndham has a ton of places in the US & other continents. having a nice condo unit in which to stay at these places means a kitchen, more flexibility for family accomodations, & the like, plus it can be a different location each time.
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