Quote:
Originally Posted by JMcLellan
The intent would be to sell our current home and buy a lake home, owning only 1 property. We do have some remaining mortgage on our current house.
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This is an emotional question for you, not a financial one.
The original post talks about passion, then justifies the passion with the word "but", followed by ..."crap ton more"...
Principal dwelling real estate for a non-RE professional such as yourself delivers a poorer total return than the same capital invested in equities. High carrying and transactional costs combined with poorer price appreciation, with the added insult of illiquidity means the lake house is an unattractive endeavor, when viewed soley through a financial lens.
If you want to do this, do it. Be clear about the basis on which you would be acting - emotional. Nothing wrong with emotional actions.