OUR SECOND HOME FOR THE SUMMER OF 2010
I believe that in most cases the cost advantages of the lifestyle I am suggesting far outweigh the costs involved in owning a second home. Not only are capital costs lower, but so are recurring costs, emotional costs, cost of your time, and cost versus benefit, though I admit the last is very subjective.
Nevertheless, I am prepared to make a case that the benefits of renting for several months outweighs the alternative of owning a second home or spending the same amount of money on other travel options such as short-lived cruises and tours.
I have rented apartments with a sauna, a Turkish steam bath, an outdoor terraced garden, and in Mexico a beachfront firepit. These were not your roadside cabins with a hot plate. I have spent as little as $67 dollars a day for a full floor, brand-new two-bedroom apartment with an Italian-designed kitchen and batin the Slovenian alps, to a high of $83 a day for a two bedroom house with a separate loft for an office, an interior garden, fireplace and off-street parking in very expensive Carmel, California. That house in Carmel would sell on today’s market for about $1.5 to $2.0 million.
The picture is of last year's rental, in beautiful Camden, Maine, in town, walk to everything, 2br 2 ba. for for 100 days for $7,000. OK folks, that's $70 a day; turnkey, including internet, flat screen TV, fully equiped kitchen and furnished.
More on cost and savings next.
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