Originally Posted By slowr1der:
The finance side of my brain has run the numbers 50 different ways and I can't figure out a single way that owning something like this is feasible without losing a bunch of money. I've come to the conclusion that we're much better off to keep investing in the stock market and just vacation here once or twice a year with the proceeds.

Originally Posted By purevl2:
You're going to buy a second home literally at the height of the housing bubble?  Wait.

Originally Posted By slowr1der:

That's the thing. It I have no idea what the insurance is going to cost, but it doesn't really seem financially viable before the insurance costs.

Originally Posted By User55645:
Just keeping renting when you want a vacation, untilyou'rereadytomove. Cheaper and less headaches.

Originally Posted By bassackwards:
The fees are high because of constant maintenance and high insurance costs.

Originally Posted By housewolf:
I did before hurricane Ike.
https://www.ar15.com/media/mediaFiles/177202/camp2_jpeg-3212449.JPG

Originally Posted By LesBaer45:
So hurricanes, flooding, salt air killing everything, maintenance, jackass renters, HOA fees, impossible or only going higher insurance, and rental service co. 'fee's have been covered.

Why does no one mention the sandblasting of everything whenever there is a breeze?

Have experienced all of the above but the finding the side of your truck erased after a middling wind event on a bright sunny day was the thing that may have led to a sale.
Not to mention what it does to the windows of the home. You won't be able to wash those clean ever again.

Originally Posted By Grumple:
Last thing I would ever do is buy a property that others can dictate what I cam or can't do.... aka an HOA.

Originally Posted By ar_mcadams:



this is exactly what two other people have told me that have beach houses around  Galveston.

Originally Posted By NorthBridge:

This. I can only speak about the gulf coast, but the salt air chews up everything quickly and you’re always spending money on maintenance/repair.

I mean, it’s definitely fun when you are using it but keeping it nice is a chore.

But the wife and dog love it lol

https://www.ar15.com/media/mediaFiles/337680/IMG_2146_jpeg-3212458.JPG

https://www.ar15.com/media/mediaFiles/337680/IMG_2131_jpeg-3212461.JPG

https://www.ar15.com/media/mediaFiles/337680/IMG_2139_jpeg-3212462.JPG

Originally Posted By mousehunter:
We are on Bolivar - so 7 miles or so (abet by ferry).   No HOA.  It is too far away to manage personally, so it is with the rental Mafia (like 2/3 of the rest of the community and Crystal Beach, maybe even Gilcrist).  Ike washed Gilcrist off the map (I recall an airial picture showing one house standing-but it was later condemned).  Port Bolivar beach got pretty cleansed as well - so virtually all the first few rows are now built after the hurricane - gone are the budget fishing shacks (Hard pressed to find first row under 1m, second row maybe in the 700's).  Good news is the Mafia can get shit repaired quick - if we were doing it personally, who knows how long it would take to get repair people over (I am talking about the month to semi-monthly shit renters call about-we usually can get 2hr service).  That said, I think the Mafia charges 25% of gross rent.  Next weekend is traditionally Go Topless Jeep weekend there.  A few years ago a house lost their outdoor staircase - the renters tore it out for a bonfire on the beach.  We don't rent Jeep Weekend.

The Mafia does provide good service - one of our last renters complained that some of our furniture was not up to par.  The Mafia had it replaced (I think within a day) with some they had in storage.  We still need to replace it all though.  Bust out another 5-10k.

Had a client once have his lake rental get destroyed by party (he had a full compound - multiple houses, pool, tennis courts, etc...).  He thought he was renting to an elderly person, he rented to a frat for a party.  I think total damages were about 350k - 20 years ago.  They did fun stuff like throwing all the furniture in the swimming pool, busting out walls, windows, doors, etc...)
---
Our house is built like a tank and elevated about 20' - but honestly it will not matter when the remains of the houses (and RV's) behind you flush through and take out your pilings.

The post Ike pictures of Gilchrist are fairly copyrighted now, not sure if I can link to one.
https://s.hdnux.com/photos/05/20/10/1376830/4/960x0.webp

Originally Posted By TheJMan1:
We own a beautiful small farm nestled in the mountains of NEPA.  My brother just finished building a house on the water in NC.  We visit each other and it's perfect.

Originally Posted By slowr1der:
My wife is trying to talk me into "investing" in a beach house. I'm not normally a beach guy, but I'll admit we recently went on a vacation that was one of our favorite places we've ever been for both of us. The problem with these condo's isn't the price. It's the $750-1,000 a month HOA fees that come along with them. My first thought was maybe we can pull this off and Airbnb it when we aren't there. The finance side of my brain has run the numbers 50 different ways and I can't figure out a single way that owning something like this is feasible without losing a bunch of money. I've come to the conclusion that we're much better off to keep investing in the stock market and just vacation here once or twice a year with the proceeds. Of course that answer wasn't super popular with my wife. Does anyone else here own a beach house? How do you make it work? Or does it just cost you a massive amount of money each year?

Originally Posted By ScottsGT:
We looked into a beach condo in North Myrtle.  In the end, it was a big no for reasons already posted.  
High maintenance due to salt air
Renters as a majority treat things like shit
High HOA fees to cover security, pool maintenance, elevator maintenance, etc
Assessment fees randomly for new roof, major repairs, etc
Trying to keep it rented out
Constant remodeling

No shit, about the time we were thinking about it I ran into another customer at an AT&T phone store. She was ecstatic and said it was the happiest day of her life because she had just signed the paperwork and sold her beach condo.  

Fast forward a few years.  Wife is getting another itch.  This time she wants a “shit shack” on the local lake to get away to on the weekends.  At the time, the smallest and worst smelling death cabin on the water was averaging $300,000.  I started looking at things through the grounds keeper, maintenance man’s eyes.  So I started looking at living there full time in nicer homes.  Our first was a nice home we looked at was in a cove for $375k.  I told her we gotta move. No way I can maintain both properties and not to mention high taxes on a second property. Take our equity and run.

In the end we found a 2200 sq ft with a walk out basement, full central air, very deep one car garage, a dock that costs more than our first home with a lift. Sitting on .88 acre.  Got it for $590k, but we had to buy a $10k 12X24 storage barn due to loss of garage space and no attic storage.  And it came with a million dollar view.  We also put in a hot tub to sit and enjoy the view.

https://imagizer.imageshack.com/img923/1848/m4btRV.jpg

Barn is in the front yard.
https://imagizer.imageshack.com/img924/5495/nZE0K9.jpg

Previous owner used it as a weekend/summer place so yard work was not high on their priority list.  The shoreline was completely over grown as well as the wooded areas along the property lines.  This is one of the pics from the listing. All the shoreline growth is gone except the one tree.
https://imagizer.imageshack.com/img922/5869/vW1gE0.jpg

I will say, maintenance is still high on any waterfront.  But at least no salt corrosion.  We get some pretty high winds coming off the water during storms.  It has caused some minor damage I’ve had to repair and prone to spring floods. One neighbor clocked the winds at 77 mph off his dock last week.  

Originally Posted By LesBaer45:

Looks like it'll buff out.

Some new drywall, a little paint, no one will ever know.

Did you rebuild or write it all off?

Originally Posted By DVCER:
A condo will have occasional “assessments” over and above HOA dues.  The older, the more often.  Stuff rots quick in salt air.

Originally Posted By mousehunter:
We are on Bolivar - so 7 miles or so (abet by ferry).   No HOA.  It is too far away to manage personally, so it is with the rental Mafia (like 2/3 of the rest of the community and Crystal Beach, maybe even Gilcrist).  Ike washed Gilcrist off the map (I recall an airial picture showing one house standing-but it was later condemned).  Port Bolivar beach got pretty cleansed as well - so virtually all the first few rows are now built after the hurricane - gone are the budget fishing shacks (Hard pressed to find first row under 1m, second row maybe in the 700's).  Good news is the Mafia can get shit repaired quick - if we were doing it personally, who knows how long it would take to get repair people over (I am talking about the month to semi-monthly shit renters call about-we usually can get 2hr service).  That said, I think the Mafia charges 25% of gross rent.  Next weekend is traditionally Go Topless Jeep weekend there.  A few years ago a house lost their outdoor staircase - the renters tore it out for a bonfire on the beach.  We don't rent Jeep Weekend.

The Mafia does provide good service - one of our last renters complained that some of our furniture was not up to par.  The Mafia had it replaced (I think within a day) with some they had in storage.  We still need to replace it all though.  Bust out another 5-10k.

Had a client once have his lake rental get destroyed by party (he had a full compound - multiple houses, pool, tennis courts, etc...).  He thought he was renting to an elderly person, he rented to a frat for a party.  I think total damages were about 350k - 20 years ago.  They did fun stuff like throwing all the furniture in the swimming pool, busting out walls, windows, doors, etc...)
---
Our house is built like a tank and elevated about 20' - but honestly it will not matter when the remains of the houses (and RV's) behind you flush through and take out your pilings.

The post Ike pictures of Gilchrist are fairly copyrighted now, not sure if I can link to one.
https://s.hdnux.com/photos/05/20/10/1376830/4/960x0.webp

Originally Posted By AttachedFile:


This.

My parents owned a lake house. Living in it full time is great. Almost all the neighbors were weekend/2nd homes. They seemed to spend a lot of time unpacking, doing yard work and such Saturday morning. Enjoying the lake Saturday afternoon and Sunday morning then packing back up that afternoon.

When I inherited the lake house the family loved it at first but it became a burden with upkeep. If it was our primary home then we would have kept it but it was too far from our jobs and schools.

Originally Posted By slowr1der:

That's the thing. It I have no idea what the insurance is going to cost, but it doesn't really seem financially viable before the insurance costs.

Originally Posted By SCvARminter:

Wateree?