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First time buyer - vacation home

Hi there - looking for challenges to my way of thinking

Based in NYC, wife and I both earn good money and have one kid with another on the way. We are looking to purchase our first home together (I own property in the UK but nothing in the US). Return to work is still unclear (both downtown nyc).

We are seriously considering purchasing a lake house outside of NYC with the reason being that it would make a good home for us over the next 12-18 months until we know more on our work situation. This would also provide the opportunity to have a vacation home as our primary residence until we need to head back to the city or potentially commute from there. This helps prevent us wasting money on rent, but also gives us a future potential passive income in the form of letting or Airbnb (I think it would be perfect for weekend getaways).

Our story is complicated but I see this as a good option to keep flexibility without spending serious money on a forever primary home, especially in this over inflated market.

submitted by /u/rydotank
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source https://www.reddit.com/r/RealEstate/comments/k32ttf/first_time_buyer_vacation_home/
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