Sure, a house on the water or in the mountains sounds like a great idea. Until it becomes a crash pad for friends.
When Your Vacation Home Becomes Everyone’s Crash Pad, that’s a dilemma faced by many of those who buy second homes or retirement homes in desirable locales. More people seem to be heading for the same social quicksand. There are roughly 7.9 million vacation homes in the U.S., according to the National Association of Realtors, and the recent plummet in housing prices is leading more people to consider taking the leap.”Some vacation homes are dirt cheap,” says Walter Molony, a spokesman for the association. “It’s largely a middle-age, middle-income, baby-boomer phenomenon,” he adds. “It’s a lifestyle purchase.” But how do you avoid having your lifestyle, not to mention your relationships, ruined when friends and family start to vie for free use of your home?
By Kathleen A. Hughes, Oct. 31, 11 WSJ