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View unanswered posts | View active topics It is currently Sun Jan 21, 2018 9:41 am



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 NH Condo, Maybe? 
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Leg Burner
Leg Burner
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Joined: Fri Nov 23, 2012 10:55 am
Posts: 63
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 NH Condo, Maybe?
I sent in my last mortgage payment on my home in Maryland this month. So, naturally, I’m now thinking of taking on another mortgage by buying a condo in the Whites. (What’s the definition of insanity again?) Financially, I can handle this, but I’m looking for advice from you folks who get to spend a lot more time in the mountains than I do. Should I bother? Is it worth it? How big a pain in the tookus is it likely to be?

Currently, I get to the Whites 3 or 4 times a year, usually for an extended weekend. Of course, if I owned a place, I’d probably be up here more frequently, and for longer periods. I can’t see leaving Maryland on a permanent basis—at least not as long as my kids and grandkids are still in the area. I still work full-time, but could work for week-or-so-stretches for my Maryland employer from the Whites--heck, I work that way now when I’m up there and the day is miserably rainy!

I wouldn’t want to rent the place out to make money. I’d rather have it as “my place”, allowing family and close friends to stay there, but keeping a pretty tight rein on that. I suspect my brother from the Boston area—another avid hiker—would use the place once a month or so. As a result, the place wouldn’t be deserted for months at a time.

Just for giggles, I checked on prices for condos in the Woodstock/Lincoln area about a year ago, and it looked to me like taxes and condo fees alone would cost about $6K per year—at the low end. My thought then was “Gee, I could stay at some really nice places for $6K per year—and I’d get clean towels every day, too!”

So, any thoughts would be appreciated, from “What a great idea” to “Are you nuts?”. Thanks in advance, folks!


Thu Jan 26, 2017 7:31 pm
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Peak Bagger
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Joined: Wed Mar 15, 2006 8:40 pm
Posts: 184
Location: Brutasaur on Franconia Ridge
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 Re: NH Condo, Maybe?
If it were me, this would be my answer - "I checked on prices for condos in the Woodstock/Lincoln area about a year ago, and it looked to me like taxes and condo fees alone would cost about $6K per year—at the low end. My thought then was “Gee, I could stay at some really nice places for $6K per year—and I’d get clean towels every day, too!”

I have a good friend whose company receives much business from condo owners as a result of water damage - usually from frozen pipes in their condo, or condos above them. The resulting repairs results in much work for the owners, between dealing with insurance companies, adjusters, contractors, and sometimes lawyers. This problem isn't unique to Lincoln, but occurs in vacation condos located anywhere in cold temperature climates.

Perhaps I'm too practical, but beyond my primary residence, I'm not into ownership for the sake of ownership. If you can't make a case - all things being equal - that ownership is less costly than renting (and costs include my time in managing the property) then it's a no-brainer. That's just me. Obviously there's a market for condos for those who don't consider cost-effectiveness a determining factor.


Fri Jan 27, 2017 6:47 am
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Flatfoot
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Joined: Fri Jan 13, 2017 10:33 am
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 Re: NH Condo, Maybe?
It's more practical to buy a regular house and lot.


Fri Jan 27, 2017 6:20 pm
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Sovereign Woodsman

Joined: Sat Jul 28, 2012 2:40 pm
Posts: 1654
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 Re: NH Condo, Maybe?
Maybe take Dusk's idea, but look for a small house. When we stop for pizza or something else at the end of a hike, Prema always gets those free real estate mags and finds a few for me :D !


Fri Jan 27, 2017 10:58 pm
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