You may well be considering purchasing a vacation property whether it is a cottage, chalet or even a lot to build on later at some point in some. Is this a good thing?
Is it a good idea? It all depends.

Purchasing a second property again may or may not be a good idea. A second property is a lot of work. There is additional work on top of what you have currently.

If you are a single person who is up and coming - a friend's vacation spot may seem just cool. However without realizing it you may already is stretched caring for your current home and property. A second house is a lot of work. No doubt about that. On top of that add driving distance and time to the mix to complete the tasks at the second property.

If you have a family, or are a family person - be it your own family or nieces, nephews or grandchildren - then a second property may well be the ticket. It can serve as a safe refuge for the kids - away from home , a sheltered environment which is not only safe but serves as a focal point , in a more isolated setting , with which to share time and activities with the kids. They can have a second additional set of "beach friends" there in the summer. Perhaps the property can be used additionally throughout the year - fall, winter or spring. This further increases the time available for use, stretches the time use line, and dilutes costs per use providing more value.

The beautiful part of a cottage - can be the other activities afforded. In addition to just having the roof over your heads, and a scenic garden like environment other activities may be afforded. These can include boating, water skiing, fishing, hiking and such seasonal activities as berry picking.

If your family is not necessarily a water sports family another option to think is of a non- water facilitated property. For example a country location, not near water facilities may do just fine. For example an old farm property or even an old general store or gas station property may do just fine- and a lot less cost. These may serve just as well, if not better, for the family second property. There may be a plenty of trees, wilderness and afford plenty of recreational activities and seclusion for the purpose.

Lastly one other option to consider is not only purchase of the property. Buying a property involves costs in addition to purchase price. There are of course the actual costs involved in purchase - purchase , property taxes , real estate fees etc etc.

The property is yours. You may gain on appreciation of your asset. On the other hand the value of the property may decline as well. The bigger issue is all the additional costs and as well the responsibility. You may choose to rent a property instead. Often you can rent a property at the peak time period. Thus you have the use of the property at the peak time period - the prime spot so to speak. It can be said that you are paying a fair bit - with no equity return. Yet on the other side - you have none of the additional costs or headaches.

In the end a second property can be a godsend - both for yourself and your family. It can be your refuge away from the world and peace on earth. However a second property is a lot of work of responsibility, which will be in addition to all of your other responsibilities - in addition to your current workload along with family, household and occupational responsibilities. It is no accident or "secret" that there are always vacation, second or cottage leisure properties for sale. A second property is an awful lot of extra work.