Quote:
Originally Posted by chassis
This is an emotional question for you, not a financial one.
The original post talks about passion, then justifies the passion with the word "but", followed by ..."crap ton more"...
Principal dwelling real estate for a non-RE professional such as yourself delivers a poorer total return than the same capital invested in equities. High carrying and transactional costs combined with poorer price appreciation, with the added insult of illiquidity means the lake house is an unattractive endeavor, when viewed soley through a financial lens.
If you want to do this, do it. Be clear about the basis on which you would be acting - emotional. Nothing wrong with emotional actions.
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Yes, this is an emotional decision for us and I'm willing to potentially have less money in the future to enjoy a lake home now. Also, my family cabin that my grandpa built back in the late 60's and now which my parents own will be sold off in the next 3 to 5 years as my parents want to cash out. I always thought that property would stay in the family but it looks like it won't turn out that way.