Or a quick little lecture about how many of us in the US live in homes that cost UNDER $250K, and they are looking at a property that is worlds better than what we have, for twice as much, that will be their vacation home. We are having issues actually continuing to make payments because we were reduced in hours, or actually laid off and supporting ourselves on one income and they are whinging about nonsense …
Then we have the flipside of the coin. Last night there was a working class couple from Pennyslvania who wanted to buy a vacation home in the Dominican Republic. Their #1 criteria: ocean view. Their budget: $200,000.
:rolleyes:
They kept squinting off in the distance and whining, “I can’t see the ocean from here.”
P.S. They settled on a fractional ownership ($57k/month and they bought two months) of a place that was a 2 minute walk to the community’s private beach.
Oh, and the very next show was a couple from Alaska who wanted an ocean view in Kauai. Their budget: $400-500k. They ended up buying a place for $839k. :smack:
The people were sensible and got their ocean view and access and under budget. What was their condo fee like?
The alaskan hawaiians makes me wonder - doesnt anybody bother researching their possible vacation idea? I go online and regularly do a home search for fantasy living locations - I know roughly what I can expect if I want to live in Paris, Amsterdam, Munich … rentals, purchases, room sizes, locations. I read blogs by people who have moved to the areas, look at pictures, read message boards. Heck, I know roughly what it would cost to move into NY or San Francisco and what to expect for what my price range would be.
And do they really NOT understand that when they are told that Costa Rica has a 200 foot restricted area along the beach for natural habitat that means there is NO HOUSING ON THE FREAKING BEACH unless it pre-existed, and it will probably cost millions and not hundreds of thousands of dollars to purchase if one actually comes up for sale?
It was funny because when they were looking, I said,“I wonder if they have fractional units available there?” In addition to their modest budget, I thought it would have worked better because they were in their mid-40’s and still working. Surely they couldn’t have been entitled to more than 4 or 5 weeks of vacation per year anyway, so why would they even want a year-round place? (They did speak of renting one side of a duplex fractional they were looking at, so maybe they were thinking they could rent the rest of the year…? But seriously, an ocean view on a $200k budget? Completely unrealistic.)
FYI, their HOA fees were $110/month, I believe. But it didn’t say whether they owed that each month or only the months they bought. If it was a monthly fee, $1320/month ($110/month x 12 owners) sounded really high to me. But $110/month sounded really low. They never answered my question, though.
BTW, the first home that the Alaska couple looked at in Kauai was a 2 bdrm condo for $399k. The HOA fees? $850/month. :eek:
Pennsylvania? Seriously? On one of the spinoffs, I asked about all the blue-collar and middle-class Brits that always seemed to be buying expensive vacation property in oddball locations. "Nigel works as a lorry driver, and Katherine is a nurse. They’re looking for a weekend getaway beach house in the Azores. Their budget is a modest £700,000. " :eek:
I agree, the most amazingly odd people seem to have these huge budgets for vacation properties. I know the NZ Choreographer that is like 19 who had a budget of 500K got a majority of the money from her father, they were going to be ‘sharing’ the property. I know she was planning on spending 6 months of the year there. Hell of freaking vacation…
I noticed that too.
We bought our latest home on blueprint, we got rid of the double-height ceiling and added 4 extra rooms upstairs (about 20% bigger than the original). Double-height ceilings is great here in the tropics, except that there were no windows planned at the top, a very stupid design indeed.
We sold two properties (including our home) in record time and I credit the home staging shows for it. Each person that came to see our places, regardless of how it fit in their budgets/needs, wished they could buy ours. Clean and organized goes a long way.
Damn, I missed that. I live in the DR.
And yes, you are not going to get anywhere near a beach for that kind of money. Where I live (think small private republic) you can buy a mid-sized apartment 5 km from the beach for that price. Just saying.
To be perfectly honest, WRT tropical luxury locations - I would actually rather have a lovely private place inland for a third the cost, with twice the space and an indifferent view. I would rather go to the beach than live there.
Let me explain why … I used to live at 8405 Atlantic Ave, in Va Beach. Lovely home, I had the ground floor apartment. We had our ‘driveway’ stretching the street frontage of the property, and just about a car and a half deep. Hm, I would say about 45 to 50 feet or so. From Oct 1 to maybe April 30 it was lovely, if you check google maps for it, you will see that there are about 3 or 4 blocks that are actually a little tail going off Atlantic Ave to the back gate of Fort Storey, and hence not actually heavily traffiked. Summer on the other hand, we would have to get people towed to be able to get in and out of our plainly marked NO PARKING and PRIVATE DRIVE house frontage. I caught people peeing or worse in my side yard in the shrubbery. I had someone try to steal out of my screen porch, my car, my back yard, toss all their trash in my trash bins and the upstairs neighbors trash bin, and the upstairs neighbor would catch people sitting in his deck and using his BBQ.
I will never live in a heavy tourist area again. I will go inland and have real nice local neighbors where we can share recipes, trade babysitting or fruit, and have a quiet residence. [I do not ever seeing buying a vacation property unless it is that spiffy 2 bedroom place in Bali that you open the bedroom sliding windows and jump into the pool! We could rent that place out when we aren’t there!]
I don’t live in a heavy tourist area, if you want an ocean view where I live you’ll need beaucup bucks (400K for a small apt, or 10M for just a lot). But I perfectly understand your point. Ocean view doesn’t come without a lot of trouble and risks, specially in the Caribbean.
Anyone else indulge in the porn that is Selling New York?? Some of the potential commissions are more than I paid for my house!
I know New York isn’t your typical American real estate market, but I still can’t wrap my head around how much some people are willing to pay to live there. And the obsession with “the view” - um, you’re looking at a bunch of other buildings. A view is mountains or oceans or other nature-related things. Concrete and steel and glass? OK, if you prefer…
Now that I think of it, it’s not porn, it’s more of a cartoon. Yet I still watch. Damn you, HGTV!!!
The other thing that they never mention about the ocean front apartments is that the seabreeze will help speed everything you own to an early death. My parents lived by the ocean for about 7 years/ In that time, the seabreeze helped destroy anything that was gilded, the fridge, the gas connection for the stove and a bunch of printers. Printer cartridges didn’t last very long.
Condo fees of $850 don’t surprise me all that much. I’m willing to bet that they were in older high rises built in the 60s with a ton of deferred maintenance and a bunch of people working in the building.
Heck, I lived two blocks from the ocean once and had the same problem (it was on a high rise).
“Oh look, we’re 20 feet from the ocean!”
Ok. Not where I want to be in a storm…
Or a tsunami.
the prices are unreal! and get this! for most of those condos, lofts, and apts you pay cash. there isn’t a morgage.
i read a book about the major foo-foo buildings in nyc. you want a place in one of the big name buildings, you have to pass the building’s rigourous screening, and have way more in the bank than the price of the space. and you have to prove that you have more than enough money to pay the monthly fee. they can be more than 10 thousand a month.
it is a really, really, different livestyle.
and some of those living spaces are incredible! in nyc the buildings are the views… unless you can get a nice central park view. that view is megamillions.
i did laugh at the fellow that thought doing a remodel of an apt. would be a too tight at one hundred thousand. that would buy an entire house in many places.
he thought it wouldn’t be enough to do the bathroom and kitchen!
Let’s say a home is for sale for 900k. Other, similar homes in the area have gone for around 825. And let’s say someone bids a reasonable 750k, as a starting point.
The correct response is not to counterbid 895k :smack::smack::smack:.
Also, when you show the landlord photos of a house that has a better location AND has offstreet parking in the city AND includes water, listed for $100 less/month, the correct response is not “But my fridge cost $2800”.
I think my favorite ridiculous International show was about an extremely busy, overextended couple buying a 2nd place in New Zealand. They live in Arizona. They wanted a NZ place because that’s where they honeymooned. No way in hell will they ever have time to get away. To make things worse, in order to stay in budget they were going to have only a 2 bedroom place - even though they had children of both sexes :smack:. How is that going to work out when they’re in high school, guys?
Well if the kids were from a previous marriage, then technically they aren’t related.
:eek:
I couldn’t believe those people. They could have owned an entire unit for the entire year for about what they would have paid for three months in the one they bought.
But - the show said nothing about the rental potential of the units. There was some throwaway line about it, but since they do have full time jobs, they have the potential to rent it out 48+ weeks a year. That is the most important part of the financial decision for a vacation home, IMO, along with the associated management fees, linens and furnishings, etc.
Too bad that place was a seven minute walk from the beach. :rolleyes:
Actually, this should be called Not Selling New York as they rarely, if ever, actually sell something on this show.
Plus, this show has perhaps the most obnoxious group of real estate agents I have ever seen - phony, insincere asshats, all of them.
The Kleins are the worst - two-faced liars, and with absolutely no class whatsoever.
The only reason I watch this show is to get a glimpse of the overly expensive apartments…having lived in NYC, it is fun to see what things are selling for now. Or better yet, what is not selling. Seriously, I don’t think they have “sold” a single unit in the last three or four episodes…looky-loos who spend lots of time going from place to place, and then not buying anything.
Well I don’t think it’s that big a problem for a vacation home, but yeah if they were going to live there fulltime it would be. Especially if these are step-siblings.
Alice, nobody likes a judgemental maid you know…