What would you prefer? An apartment in the city, purely for investment, which you’d rent out; or a house close to a lake, for vacation purposes? Costs are the same but the... (more)
apartment would be more cost neutral as it’s rented out. But you’ll probably never get to use it and it’s more for the DCs when they grow up. The house is for personal use and enjoyment but has monthly costs.
posted May 22nd, 2022 at 9:32am in Toddler
NOTE: YouBeMom.com may earn a commission on links to Amazon.com and other third party retailers in the post. See Affiliate Disclosure for details.
share
twitter
email
print51 Replies (log in or sign up to post a comment)
- Apt in city. I'd rather rent lakeside 5-22-2022 9:33am +1 like
- In theory, you could rent the lake house too 5-22-2022 9:33am
- OP. Yes I could but if I buy it, I’d want to use it. Since the pandemic I also want to live more in the present and enjoy some of my life, while I have to work so hard. 5-22-2022 9:34am
- Apt to rent for income. I have no interest in a lake house. 5-22-2022 9:33am +1 like
- No cannonballs? 5-22-2022 9:34am
- lol nope 5-22-2022 9:34am
- Can openers? 5-22-2022 9:34am
- I don't swim 5-22-2022 9:36am
- :'( 5-22-2022 9:38am
- I don't swim 5-22-2022 9:36am
- Can openers? 5-22-2022 9:34am
- lol nope 5-22-2022 9:34am
- No cannonballs? 5-22-2022 9:34am
- I dont make investments in real estate if they are only cost-neutral, so the latter. 5-22-2022 9:34am
- I think the benefit would be the cost appreciation over the years/decades. Kids could use it rent free when older. 5-22-2022 9:35am
- and you are certain they will want ti live in the city you have in mind? why not do the lake house if you would use and enjoy it now, and sell it when you want? 5-22-2022 9:36am
- That’s what I am thinking. 5-22-2022 9:40am
- The positive yielding asset by definition has more appreciation upside than the one with zero yield. 5-22-2022 9:40am
- why would dit have zero yield? 5-22-2022 9:41am
- The OP's comment is cost neutral. That means rent = costs like taxes and maintenance 5-22-2022 9:44am
- OP. Exactly. Rent covers costs in the apartment option. The lake house would cost me 1500 per month. I can’t predict what I’d get in rent if I ever rented it out. 5-22-2022 9:46am
- The OP's comment is cost neutral. That means rent = costs like taxes and maintenance 5-22-2022 9:44am
- why would dit have zero yield? 5-22-2022 9:41am
- and you are certain they will want ti live in the city you have in mind? why not do the lake house if you would use and enjoy it now, and sell it when you want? 5-22-2022 9:36am
- I think the benefit would be the cost appreciation over the years/decades. Kids could use it rent free when older. 5-22-2022 9:35am
- which city? if NYC many buildings have a lot of rules about subletting. How do you know your kids will even want it? And do you want a lake house? I you do wouldn't;t that be an...(more) 5-22-2022 9:35am
- ^I am confused by this post, really. 5-22-2022 9:36am
- It’s sort of an investment as well, but I’d have to contribute more on an ongoing basis. 5-22-2022 9:36am
- but is thus NYC? DO you have a specific place in mind that you know allows you to buy and then just rent it out? 5-22-2022 9:37am
- Not NYC. Not nearly as expensive. Both options would be around 500k. The apartment would be much smaller than the house. 5-22-2022 9:40am
- if you go to the city, e.g. Miami, sure - but how are you so convinced your kids will be living in this particular city? 5-22-2022 9:42am
- This post has been deleted. 5-22-2022 9:44am
- I would do the lake house and enjoy it now, I guess. but you should do what you want. there isn't a right answer. since you sk which WE would prefer - lake house for me,...(more) 5-22-2022 9:45am +1 like
- This post has been deleted. 5-22-2022 9:44am
- if you go to the city, e.g. Miami, sure - but how are you so convinced your kids will be living in this particular city? 5-22-2022 9:42am
- Not NYC. Not nearly as expensive. Both options would be around 500k. The apartment would be much smaller than the house. 5-22-2022 9:40am
- but is thus NYC? DO you have a specific place in mind that you know allows you to buy and then just rent it out? 5-22-2022 9:37am
- Condos allow for long-term rentals. We net 8.6K per month doing this. 5-22-2022 9:40am
- Right now due to pandemic youd get a better deal on the city apt. 5-22-2022 9:36am +1 like
- Where do I live now? 5-22-2022 9:36am +2 likes
- This post has been deleted. 5-22-2022 9:38am
- Where do you stay now at the lake? 5-22-2022 9:39am
- Hotel. I could continue to do so. 5-22-2022 9:41am
- so wait, which city? Miami? NYC? Which lake area? 5-22-2022 9:40am
- This post has been deleted. 5-22-2022 9:42am
- the ALPS? how od you have any clue that they will want a city place in Switzerland some day? I guess I would do the lake house and rent it when I wasn't;t using it. Are you...(more) 5-22-2022 9:43am worried it has no appreciation as opposed to city? So this is primarily an investment?
- This post has been deleted. 5-22-2022 9:45am
- the ALPS? how od you have any clue that they will want a city place in Switzerland some day? I guess I would do the lake house and rent it when I wasn't;t using it. Are you...(more) 5-22-2022 9:43am
- This post has been deleted. 5-22-2022 9:42am
- friends in Florida do well on vacation home investments in Asheville. They keep for a couple of weeks a year but rent it out most of the time. 5-22-2022 9:40am
- Where do you stay now at the lake? 5-22-2022 9:39am
- This post has been deleted. 5-22-2022 9:38am
- Apt in city. Airb and b different places for me 5-22-2022 9:37am
- but it isn't so easy to just rent out a city apartment. my building had a lot of rules about it. many buildings need you to have it as your primary residence. 5-22-2022 9:38am
- Not condos. So, you'll pay more money initially, and have more flexibility going forward. 5-22-2022 9:41am
- even condos have boards with rules. 5-22-2022 9:41am
- Yes. We do this and net 8.5K per month 5-22-2022 9:42am
- ^^^8.6 5-22-2022 9:42am
- and you have unlimited ability to rent? our building doesn't want a bunch of people renting, I think max is two years then you need special permission 5-22-2022 9:44am
- ^^^8.6 5-22-2022 9:42am
- Or yes but for us the rule is "right if first refusal" which means they rent it if they dont like the person 5-22-2022 9:53am
- Yes. We do this and net 8.5K per month 5-22-2022 9:42am
- even condos have boards with rules. 5-22-2022 9:41am
- Not condos. So, you'll pay more money initially, and have more flexibility going forward. 5-22-2022 9:41am
- but it isn't so easy to just rent out a city apartment. my building had a lot of rules about it. many buildings need you to have it as your primary residence. 5-22-2022 9:38am
- I'm selling my lakehouse. It was fun, but so much work 5-22-2022 9:45am
- how long have you loved in Miami? I grew up there. 5-22-2022 9:46am
- Did you leave? Do you miss it? 5-22-2022 9:56am
- The city. I'm not into lakes. 5-22-2022 9:56am
- Lake house 5-22-2022 9:56am
- You sound like you would like the lake house so do that. You can totally keep minimal stuff there and if get worried about $ rent it out. Kids may enjoy it too with friends 5-22-2022 10:01am
- This post has been deleted. 5-22-2022 10:15am