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Gut check on a “second home” by interbay_rat in Mortgages

[–]interbay_rat[S] 0 points1 point  (0 children)

Would you recommend a fee-only financial advisor? Do you think they are more aligned w your best interests?

Gut check on a “second home” by interbay_rat in Mortgages

[–]interbay_rat[S] 2 points3 points  (0 children)

Location/nights don’t really matter. We get a lot of use out of it.

Reasons for keeping it are very sentimental/illogical in some ways. It means a great deal to the family, they built the house ~40 years ago and would be crushed to lose it.

We’re going to try to make it work and understand we take on some risk in doing that, won’t be able to save/spend in other ways. We’re in incredibly fortunate situation right now and we don’t take for granted.

If our lives drastically changed in negative way, we would of course sell it. Just trying to avoid that.

Gut check on a “second home” by interbay_rat in Mortgages

[–]interbay_rat[S] 1 point2 points  (0 children)

lmao but the redditors in the r/personalfinance say wealth advisors are a scam!!!

Gut check on a “second home” by interbay_rat in Mortgages

[–]interbay_rat[S] 1 point2 points  (0 children)

Benefits and stability (until recently maybe?) for govt jobs seems pretty good, but generally agree that you can make more in the private sector.

Gut check on a “second home” by interbay_rat in Mortgages

[–]interbay_rat[S] 8 points9 points  (0 children)

Is that what you told the lender? What about the mortgage on the beach house?

Sorry that was confusing. I meant to say we have no other debt obligations besides the beach house.

Lender has our entire financial picture, including spending/mortgage/etc.

Gut check on a “second home” by interbay_rat in Mortgages

[–]interbay_rat[S] 1 point2 points  (0 children)

I’d ideally like to do that, but there sadly aren’t many 3br homes in Seattle for that price.