Waterfront near Port Townsend - buy or not?

[mingaloo]

[Ubersalad]

[Markor]

Even if the value of the getaway stayed flat, you'd probably have to use it frequently for it to be cheaper than just renting a vacation home whenever and wherever you want to get away. I know some people like to have their own place that they drive hours to every weekend, always the same place, but I'd soon get tired & bored of it. My kids would hate it.

[carlislematthew]

Figure out how much this place is going to cost you, including everything. Mortgage, utilities, reduction in earnings on the down-payment, etc. Skip NOTHING in the calculations.

Then take a guess at how often you'll use it. Divide that number in half. That's how much you'll *actually* use it.

Take the annual cost and divide by the number of times a year you'll actually use it. That's the cost per visit. Decide if this cost per visit is worth it for you. Research how much it would cost to rent a comparable cabin/house in a similar area.

None of this takes equity gain/loss into consideration, and I think I can guess where most on this site fall (including me).

I've looked into doing a similar thing and every time I do it, I end up realizing that I could rent a really nice cabin for way less money, and be able to try different places too! Ultimately I'll probably buy one, but not at the current prices.

[Ubersalad]

ya, tell me where you're buying and I'll squat it RENT FREE =)

[mingaloo]

[Nell Plotts]

[wreckingbull]

[jillayne]

[jillayne]

[RottedOak]

[mingaloo]