If I Could Do It All Over Again Would I Still Buy My Beach Home?

September 3, 2010 at 7:10 PM 3 comments

Weeks ago Cindy Brick asked me the following questions:

How did you save up enough for your rental property? And having done that — would you do it again, knowing what you do now?

Well the wait has been long, but without further ado here are my answers…

I found my house a few weeks after I got out of the hospital with an unexpected medical condition. I was on a week long vacation in North Carolina and I was adamant about exercising even though it pained me to walk. In retrospect after falling ill I felt most at ease outside and in nature. As the wind blew past my cheeks and I breathed in the salt air I guess you can say I felt closer to my own spirituality.

One afternoon as I was walking around I spotted a for-sale sign on a newly painted, very cute house. My husband and I had considered buying property before. In fact, just a year earlier we bid on a house a few streets over from the one I found myself standing in front of.

I called the same realtor we’d work with that previous year and the moment I stepped inside the house I knew I wanted to buy it. I had no idea how my health would hold up, but I knew I didn’t want to delay. Looking back I think I feared that my health wouldn’t get better. I feared that doctor’s wouldn’t be able to cure me and ultimately I wanted to fulfill a dream before I passed away. Pretty grim, I know, but certainly truthful.

I bought my house during the height of the housing market. Although that wasn’t the wisest decision I’ve ever made I will say that the height of the housing market also coincided with the rise in value to many stocks in my portfolio.

The company I worked for provided shares of stock as incentives for good performance and over the years I’d earned my fair share of rewards. I cashed out my shares in order to cover a large chunk of the down payment. As a side note it’s a good thing I sold those shares because a few years later they became worthless.

My husband also saved a lot of money and invested in a number of mutual funds and technology stocks years earlier. We also sold a good portion of his individual stock holdings in order to cover the rest of the down payment.

Buying this beach house is one of the best things I’ve ever done in my life! Knowing what I know now I would definitely purchase this property all over again despite the fact that I purchased it during the height of the housing market.

For years my husband and I vacationed in a beach house with extended family members, but over the years I’ve learned that I’m the type of girl that needs to spend a certain amount of time alone. Prior to buying our beach house I was on edge for much of my vacations. Now I get to come back to my house and breathe a little.

In addition to better vacations my house has become a place of healing for me. I don’t know what it is about this town and this house, but the minute I step in the door I relax. For years it has been a place where I feel less symptomatic and less stressed.

Being sick put a lot of strain on my marriage and I think buying and owning this beach house helped my husband and I look forward to something positive together. When things were really bad we would plan weekend trips to the beach where we could be alone, on vacation together and when my health was really at it’s worst it helped to look forward to our trips to North Carolina.

In a nutshell I couldn’t imagine my life without this house. If I had to do it all over again I would definitely sign on the dotted line.

Entry filed under: rental home, spending money. Tags: .

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3 Comments Add your own

  • 1. Blonde Ambitions  |  September 15, 2010 at 4:44 AM

    Love your thoughts on buying a beach house. I'm on the west coast, but echo many of your feelings on owning a vacation home. Every time I step in the door, I feel relaxed & more balanced. It's a "get away" & the best decision we ever made! Our vacation house was an impulse purchase last year on an anniversary. Best souvenir ever. :-)

    Reply
  • 2. One Frugal Girl  |  September 19, 2010 at 3:36 AM

    @Blonde Ambitions – Where's your vacation house located?

    Reply
  • 3. » Debt. To the Tune of $600,000. One Frugal Girl  |  March 10, 2012 at 2:42 PM

    [...] Despite buying when prices were high I don’t regret that decision in the least. In fact, I’d do it all over again if I had [...]

    Reply

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