Vacation Homes And the Weekend Poll
I've been thinking about second homes for years now (occupational hazard!), and there have always been two things that have kept me from making the jump. First, of course is the money. But a close second is traffic. A two- or three-hour (perhaps longer) slog through traffic on a Friday evening, with a reverse commute on Sunday, just doesn't spell relaxing weekend to me, no matter how idyllic the time between.
The National Association of Realtors says 35 percent of vacation-home buyers chose places within 100 miles of home, and 36 percent chose homes 500 miles or more away. Considering that the worst of the traffic is within 35 to 40 miles of my inside-the-Beltway home, maybe a drive to the airport (and a 500-mile flight) really is the easy -- if not cheap -- way to go.
You can find lots more about buying second homes in this Saturday's Real Estate Section, which leads with a report on second home financing by Dina ElBoghdady. Prices are lower, she says, but lenders' demands are higher, which means that, for many, this is yet another instance of "see the pretty bauble but don't touch it."
Have a great weekend--whether it's at your one-and-only home or a vacation spot.
The Weekend Poll
April 17, 2009; 6:00 AM ET
Categories: Buying , Poll , The market | Tags: Weekend Poll, buying, investment, second home, traffic, vacation, vacation home
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Posted by: mistyfau | April 17, 2009 5:10 PM | Report abuse
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