A new perspective on an age old question – to buy the second home, or not.
There is one factor that is certain: Tahoe is beautiful.
Tahoe is calming yet full of adventure, it’s relaxing yet buzzing with excitement and it’s the center of mountain living, yet a quiet and isolated oasis from your normal hustle and bustle. Tahoe is indeed already your home away from home.
stayed with friends on the North Shore, crammed into hotel rooms on the South
Shore, rented condos on the West Shore and with each visit you leave saying,
“we should just get our own place up here.” Sound familiar?
You’ve no doubt done a ton of research, driven up here a handful of times and even chatted with me on occasion about the market. You may be on the fence about going through with this process, this dream of owning an alpine home in which to recharge your inner battery. I hear it all: “the market’s going to turn, the economy is on the brink of another bust, the tech industry is going to burst, I’m not sure if I’m even going to use a second home that much.” These are all absolutely valid concerns. But there is also an underlying consensus from all of my clients that do end up finally making that purchase: time.
I receive thank you letters, Christmas cards, and quick ‘hellos’ on social media from past clients and each and every one of them references time. That their new home in Tahoe allows them more time with family, more time unplugged, more time outdoors and more time simply enjoying life. It’s not what I expected when I started in this industry, but it forces me to remember that time is what you can’t get back, no matter how hot the market or how strong the economy is.
Time is our most valuable asset, yet we rarely factor it into our decision making processes.
For many a second home in Tahoe starts as a calculated investment opportunity, but then surprisingly (or not…) becomes cherished time for creating family memories.
We’re currently in the midst of record low unemployment, minimal inflation, and still historically low mortgage interest rates, but alas the market will fluctuate. And second home usage? It’s true, you never really know what the future holds. But as part of this daring adventure of buying your own little slice of Tahoe, I would also encourage you to remember that you’re potentially not just purchasing a second home, you’re securing a family legacy, a new tradition, and a commitment to give some of your time back to the outdoors, your family and yourself. If you’re adventurous, lucky and crazy enough to grab some of Tahoe for yourself, don’t forget to factor in time. It may not be a line item on your spreadsheet of profit versus losses, but maybe it should be?