Does anyone here have 2 homes - weekend vs work week home

[Ns1]

With housing prices in SoCal what they are, the thought has crossed my mind to buy a house 2 hours outside of LA and keeping my 1 BR apt in the city.

The total cost of buying a house outside the city AND keeping a 1 BR in the city, is less than the cost of renting or buying a house in the city. I'd be able to work from home 1 or 2 days a week, so I'd have to spend about 4 days in the city before returning "home".

I am led to believe that it is not uncommon for people to have an apt in the city and a house in the country.

Any major pitfalls? How do y'all make this work logistically? One super basic example I thought of yesterday....cookware. I'd basically need 2 sets of everything, or have 1 stripped down kitchen and 1 fully decked kitchen.

 

[maddogchen]

my former coworker had that. She had a ranch somewhere in the country side where she grew chickens. One major problem I remember her talking about was that one cold winter one of her water pipes busted but no one was home and they didn't discover the damage until they went to the place on the weekend. So that was very costly to get things fixed and replaced.

 

[K1052]

I think it depends on what you want to do during your weekends.

Edit: having commuted between two homes for a couple years it got old fast for me

 

[CraKaJaX]

As posted above, freak accidents/disasters is your biggest enemy. Where I grew up (about ~45 mins north of NYC), there is a ton of 'getaway' houses that city people own. They'll visit on big weekends in the summer, maybe a few for the winter if they ski, etc. But a majority of the time this place is empty. My dad is in the architecture business and deals a lot with contractors. A common thing he sees is trees falling on these houses and no one knowing about it until the next time the people come visit. You have to realize some of these houses are literally up a .5 mile driveway, not easily view-able from the street - which is the whole point of getting out of the city I guess? A busted pipe is also very common with the NE weather ... something you wouldn't know about. Another problem is once people know that your house is vacant for 350/365 days, they break in and do some bad shit. The last time this happened where I'm from, the guys broke in and cut out all the copper pipe in the basement. Made for a nice payday at the scrap yard. Because of this, caretakers are pretty big up there.. Some guys just drive around all day going house-to-house performing general maintenance on these empty homes. I guess that's something to think about.

Aside from the disasters and starting to think of what would be inside the apartment, I'm assuming you're already factoring in a second cable bill, electric bill, insurance, etc?

 

[zinfamous]

First of all....buying a house is a pretty terrible idea. Logically, anyway...if you are interested in accumulating some wealth that is.

http://jlcollinsnh.com/2013/05/29/why-your-house-is-a-terrible-investment/

But that doesn't mean you shouldn't. If I were you, I wouldn't look at this simply as "this option costs less than that option" and rather: "is that situation going to improve my life more than this situation?" Does it fit in with a solid 5 or 10 year plan?

People do this sort of thing, and it makes sense and can make life easier--living closer to work for part of the week, but I would start crunching serious numbers regarding time and costs (primarily commute and CoL in both regions.) If you do think you want an apartment closer to work, then you absolutely should not furnish it with more than the bare essentials: one wok for all your cooking needs, 2 or 3 plates and bowls, one bed, one couch, one fleshlight, etc.

If it were me....I would never do this. I would simply find a cheap-ass place as close to work as possible, grit it through for x number of years saving as much effing money as possible until I retire in 3 year---oh wait, LA..LOLOL? SAVINGS? hah!

Anyway, of course you are probably still in a position to stash away some cash with your job. Why not buy the house as a rental? That adds a shit-ton of extra work that you probably don't need to deal with, but think about how much of a waste a mortgage is (dead money that is doing nothing for you) while you concurrently toss money into a rental (actually not as bad because some other dude is in charge of fixing everything).

Also, read all of that dude's posts in that blog I linked. seriously.

 

[Ns1]

I'd probably structure a live/work situation in the city for tax purposes while buying a house outside the city...also partly for tax purposes.

I imagine my electric bill on a house in the desert would be ridiculous without solar hahah.


regarding that link...

I'm not really buying a house as an investment - I'm buying it to save on taxes while having a yard for my dogs to roam and a backyard to bbq.

 

[Vdubchaos]

No, I can never imagine having 2 homes either. Way too overly excessive for me. I'm more of a minimalist.

Actually I'm trying to scale WAY down.....but have to wait till the kids grow up/move out.

 

[Ns1]

No, I can never imagine having 2 homes either. Way too overly excessive for me. I'm more of a minimalist.

me too - I'd like a minimalist apartment and a minimalist home 😀

 

[Ns1]

...this is my exact situation

http://nypost.com/2015/03/04/meet-these-middle-class-city-dwellers-with-weekend-estates/

“We see a much younger home buyer, often in their early to mid-30s, because of not being able to buy their primary home in the city,” says David Knudsen, a real estate agent of 14 years in Sullivan County, about 90 miles from New York City. “Sixty percent of the sales I see are renters from the city.”

But why not just ditch their tiny apartment completely and decamp to the ‘burbs?

“Typically 30-something New Yorkers are really committed urbanites — and they loathe the idea of becoming suburban,” Knudsen explains. “They rent and have a really good deal on a one-bedroom and make that work, but they want some elbow room. So rather than becoming suburban in Long Island or Westchester, they make the decision to rent in the city and buy a home in the country.”

 

[Vdubchaos]

me too - I'd like a minimalist apartment and a minimalist home 😀

If that's what you want

 

[zinfamous]

I'd probably structure a live/work situation in the city for tax purposes while buying a house outside the city...also partly for tax purposes.

I imagine my electric bill on a house in the desert would be ridiculous without solar hahah.


regarding that link...

I'm not really buying a house as an investment - I'm buying it to save on taxes while having a yard for my dogs to roam and a backyard to bbq.

cool. a lot of what that guy argues is that houses aren't really investments anyway--or, at least, absolutely terrible ones--so people should never think of them as such. 😛 They are money pits that make us happy for some illogical reason. BUT, if you are somehow going to be able to save even more money with these shenanigans, then I don't see why not. Main consideration would be the increased time you spend each week going from house to apartment to work (time in car is money time, time in car is gas money, etc), and the fact that ownership has monthly, yearly, endless costs on top of mortgage and taxes. You won't be able to call someone to fix your shit for free, you know, and it will break. Often. Best to get serious about it and learn how to be handy if you are not already, is my best advice.


Also, because I have to:
Are you actually planning to dig a big pit in the back yard and long-smoke meats, or are you suggesting that you are just going to grill some wieners and hamburgers on a grill when you say "BBQ."

 

[Ns1]

Are you actually planning to dig a big pit in the back yard and long-smoke meats, or are you suggesting that you are just going to grill some wieners and hamburgers on a grill when you say "BBQ."

BBQ = low and slow, grilling = throw shit on the grill, EXCEPT FOR korean bbq which gets an exception for some damn reason.

I don't think my current next door neighbor would appreciate me buying a smoker for the balcony. I know because the neighbor across the way used to have a smoker and that shit would fill up my apartment every weekend.

 

[Zee]

BBQ = low and slow, grilling = throw shit on the grill, EXCEPT FOR korean bbq which gets an exception for some damn reason.

I don't think my current next door neighbor would appreciate me buying a smoker for the balcony. I know because the neighbor across the way used to have a smoker and that shit would fill up my apartment every weekend.

low and slow... over propane?

 

[zinfamous]

BBQ = low and slow, grilling = throw shit on the grill, EXCEPT FOR korean bbq which gets an exception for some damn reason.

I don't think my current next door neighbor would appreciate me buying a smoker for the balcony. I know because the neighbor across the way used to have a smoker and that shit would fill up my apartment every weekend.

good, I knew I liked you for reasons. :thumbsup:

I also don't get the Korean exception, but I tend to allow it because it is delicious.

If only we had Korean around here 🙁 fucking miss NorCal sometimes....

 

[zinfamous]

low and slow... over propane?

get that shit back to Minnesota.

 

[CraKaJaX]

...this is my exact situation

http://nypost.com/2015/03/04/meet-these-middle-class-city-dwellers-with-weekend-estates/

I've been to Phoenicia. It is SMALL. I'm talking 1, maybe 2 street lights on 'the strip'. That's all the town is - a strip. The breakfast place shut down for some unknown reason, there's a post office, a BBQ pit, and a few odds and ends stores. Their big draw during the summer is going tubing down the river and some local hiking. In the winter, the snow birds come out. You need to drive a good distance to really get to anything... which they didn't really mention. Sure, the 'air is fresh' ... but what the hell do you do for a weekend in a giant house having a baby to lug around and take care of? They also failed to mention the PITA of getting out of NYC on a Friday afternoon and getting back into NYC on a Sunday afternoon/evening. With all the time driving, I would rather take a few days off and rent a place rather than own a place. I think it would get old real fast.

 

[rh71]

2 hours away every weekend? Too far. As in, I'm-thinking-of-not-going-again-this-weekend far.

Also, once you have kids, you want a place in a good school district, which neither of your domiciles you're paying for will qualify for, yet all your money is tied up in them.

“Typically 30-something New Yorkers are really committed urbanites — and they loathe the idea of becoming suburban,” Knudsen explains. “They rent and have a really good deal on a one-bedroom and make that work, but they want some elbow room. So rather than becoming suburban in Long Island or Westchester, they make the decision to rent in the city and buy a home in the country.”

There are nearly 3 million LI suburbanites and MANY of them are in their 30s and 40s, MANY migrated from NYC boroughs (ourselves included). They're here for the reputable schools and once they reach mid-30s & married, going out often is no longer appealing. Out in the "country" is either upstate or way the hell out east on LI. Very few choose that route from NYC as a compromise.

 

[zinfamous]

I've been to Phoenicia. It is SMALL. I'm talking 1, maybe 2 street lights on 'the strip'. That's all the town is - a strip. The breakfast place shut down for some unknown reason, there's a post office, a BBQ pit, and a few odds and ends stores. Their big draw during the summer is going tubing down the river and some local hiking. In the winter, the snow birds come out. You need to drive a good distance to really get to anything... which they didn't really mention. Sure, the 'air is fresh' ... but what the hell do you do for a weekend in a giant house having a baby to lug around and take care of? They also failed to mention the PITA of getting out of NYC on a Friday afternoon and getting back into NYC on a Sunday afternoon/evening. With all the time driving, I would rather take a few days off and rent a place rather than own a place. I think it would get old real fast.

yeah, it's completely irrational. best option really would be to suck it up as close and as cheap to work as possible for the duration, and basically spend money on nothing beyond real human needs for as long as you can.

save that shit up and get wealthy fast, "retire" in your 30s or 40s, and then live like your own sort of king.

 

[Ns1]

2 hours away every weekend? Too far. As in, I'm-thinking-of-not-going-again-this-weekend far.

Also, once you have kids, you want a place in a good school district, which neither of your domiciles you're paying for will qualify for.

uh isn't a 4 hour commute/week about what your wife does every day?

No kids, no care.

best option really would be to suck it up as close and as cheap to work as possible for the duration

I've been doing that for 9 years, I'm almost ready to play house now. I'm just not ready to leave LA.

 

[zinfamous]

I've been doing that for 9 years, I'm almost ready to play house now. I'm just not ready to leave LA.

1 year in the country and your ass is buying a mini van. bank on it.

 

[madoka]

I have three houses. Two that I use and a vacation home that I haven't been to for four years now.

I remember buying that second house was a real PITA. The bank was very suspicious and felt I was going to try to rent it out or try to flip it. But, I really wanted that second house so I could buy more cars and stash all my excess stuff in it. The bank officers had a real hard time understanding that though, but after a few weeks, they relented.

I didn't have much of a problem with having a second set of everything, since I already have too much stuff. Computers alone I'm at 17 desktop and 24 laptops. I've still got two 65" Sony TVs that I haven't unboxed for three years now. I'm actually thinking about house number four because of that. My only fear is that I'll just use it as an excuse to buy more stuff.

 

[rh71]

uh isn't a 4 hour commute/week about what your wife does every day?

No kids, no care.

If you never plan to have kids, then yes, I would agree about no care. Just warning about being shortsighted.

My wife does 3 hours a day (on a train so it's stress-free) out of NECESSITY. To earn a living. That is in no way the same when it comes to deciding to do the roundtrip just for a couple days a week for leisure. You'll not want to do it often given a choice.

 

[Ns1]

I have three houses. Two that I use and a vacation home that I haven't been to for four years now.

this I don't get, owning property that you haven't visited in years - how do you know a squatter isn't living there?!


are you a hoarder with money by chance?

 

[poofyhairguy]

I think this is a good idea if the house is the long term plan. Like I know an older couple that does this, and they plan to retire in the house.

 

[zinfamous]

I have three houses. Two that I use and a vacation home that I haven't been to for four years now.

I remember buying that second house was a real PITA. The bank was very suspicious and felt I was going to try to rent it out or try to flip it. But, I really wanted that second house so I could buy more cars and stash all my excess stuff in it. The bank officers had a real hard time understanding that though, but after a few weeks, they relented.

I didn't have much of a problem with having a second set of everything, since I already have too much stuff. Computers alone I'm at 17 desktop and 24 laptops. I've still got two 65" Sony TVs that I haven't unboxed for three years now. I'm actually thinking about house number four because of that. My only fear is that I'll just use it as an excuse to buy more stuff.

...you're joking, right?