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Second home advice - nervous about making a purchase.

Considering purchasing a second home in an area I lived in for a year during the pandemic and fell in love with. I moved out of state after the pandemic but return to the state for work bi-weekly. I work remotely or travel for work 60-70% of the time.

I currently make $400K. $200K of that is my base salary and $200K is an all-cash bonus. I have received 100% bonus for the last 5 years. I have very minimal debt (other than my current mortgage of $2300 a month and a low-APR car loan of $500/month). Well over six figures in cash/investments outside of a 401K.

The home is $250K, about 2 hrs driving distance outside of a major city and is very close to outdoor activities like hiking, skiing, fishing and bars/restaurants with a 10 min drive. Huge Airbnb potential year round although I plan to use it for personal use most of the time. The mortgage payment all-in would be about $1850/month assuming 20% down.

Am I totally overthinking this? I obviously don’t love where mortgage rates are right now, but the home seems like a steal and it’s in a great area.

submitted by /u/Relevant_Slide_9766
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/11ymzn3/second_home_advice_nervous_about_making_a_purchase/
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