Yesterday said:

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Our kids actually think the house we rent on LBJ in Kingsland is ours since we've gone to it so many times.

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Before we bought our home in Galveston, we used to rent the same beach house every year (kids were little).

The owners eventually sold to full-time residents and so we had to find a new house. That next year, we drove past the old house and there were kids playing in the front yard. My youngest yelled out, all concerned, " Hey, someone's at our beach house!"

HumpitPuryear said:

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Have a little lake cabin that we love. Bought it years ago when values and taxes were low. Then the VRBO investors came and then the tax man came. Now it costs us $10k annually for taxes alone. Consider the vacations you can have for $10k every year not counting insurance and maintenance. We are going to sell soon and buy property out of state. Which will likely be our retirement place. It's great that the value of the property went up so much but we are basically being taxed off the property which sucks. Texas needs property tax reform but that's another subject. You should be aware that your tax situation can change dramatically in Texas.

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death and taxes man......amazing how many GREAT properties I've seen over the years that I just couldn't pull the trigger on because of taxes....

The property taxes helped seal the deal for us with a place in Colorado. Our effective tax rate is a small fraction of what it is in Texas.

Arky has a fairly low rate (13th lowest state)...which was one of many reasons we liked buying there.

I have a couple of different getaways between our home in Steamboat Springs and our house at our ranch. I have to say I have thoroughly enjoyed both. I certainly do not think I would want a third one as it would just be too much to deal with for us.

Yesterday said:

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Ag exemption and an RV.

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Yep, this is the one tax loophole left in Texas property taxes that will save you tons of money vs a "vacation home".

Tex117 said:

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cjsag94 said:

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I think proximity to home is a huge factor. Anything over 2 hours away, I just don't think will get the use -

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This. It really needs to be 2 hours away or less.

Otherwise, its just too much of a production to use it.

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Amen to this.

cgh1999 said:

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Waiting on a Natty said:

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Tex117 said:

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cjsag94 said:

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I think proximity to home is a huge factor. Anything over 2 hours away, I just don't think will get the use -

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This. It really needs to be 2 hours away or less.

Otherwise, it's just too much of a production to use it.

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Amen to this.

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I'd argue 90 minutes. Our place is 2 hours and EVERY time we hit the 90 minute mark the whole family starts to complain about it being too far. Nevermind I've been driving and they're all streaming Netflix or sleeping.

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Our second house is in College Station. So its use is different from what the OP is speaking of. Because traffic has gotten so bad (too damn many people live in TX now) it takes us at a minimum 3 hrs. 15 minutes to get there.

We are retired and have season tickets to FB, basketball and baseball. That trip, which we are making in just a few minutes, is a beating. Especially for the number of times we have made it. A good Aggie friend of mine who lived out of state for years told me about the 2 hour rule. Since I have never had a second house for relaxing purposes I can't 100% say it works. But 3 hours is WAY too much.

I'm sure there is a good reason, but why not live in College Station?

Where is your place in Steamboat? In-laws is in Clark and I wish it were closer to town in the winter months.

Steamboat Blvd between town and the ski area

TheWoodlandsTxAg said:

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I am considering it.

I am not asking if it was worth it from an investment standpoint because it obviously was considering the price of every property in the country has doubled over the last couple of years.

I am asking if the vacation home or second property was worth it from the stand point of personal enjoyment.

Do you feel the personal joy and enjoyment was worth the money you spent on the vacation/second home?

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Yes for my family situation. Bought second home in Bryan, allows me to visit family in the area and Aggie sports. I come in town about every 3 weeks and it is just like taking a short vacation. However, I did buy before the interest rates increased. Will most likely be my retirement home some day.

We kept a house that our daughter used in BCS as a game day house for us. The cost of it basically offset hotel bills and allows us to attend multiple functions.

We have looked at other "island spots', but do not want to be tied to one location yet or be hassled with doing chores when we want to relax. At the same time, we know several people who have done well with the air bnb concept.

I'm going to reiterate what a lot of people have said here. In 2015 I inherited half of my family's beach home in NH. I was able to do some real estate swapping and ended up with the entire thing. I was ecstatic. After spending $4000 to get rid of a squatter in 2017, we had to redo the entire place. New floors, paint, cabinets, counter tops, appliances, furniture etc... We settled in to our summer place spending June-August traveling back and forth from East Texas by car. I wanted what I had as a kid... a place where the whole family can get together and enjoy the beach. That happened exactly once. My son who has recently opened a new business lives in Tyler with his family. Daughter and her family live in So. California (at the beach). We are retired but coordinating everyone's vacation time, grandkids sports etc is a challenge. We are in the house right now getting it ready to sell. For the most part I am just tired of worrying about it and working on it. Did the recent storm blow shingles off? Are the pipes going to freeze when its minus 5 degrees? Every time we get here something is broken. Last summer it was the washing machine, this time the flag pole blew over and the basement toilet waste pump didn't work (fortunately I had a spare). We are growing weary of the four day drive back and forth every year and we feel trapped in some respects. There are other places we would like to visit but feel like we have to come here. We have noticed that our summer trips up keep getting shorter and shorter and its to the point that it just does not make any sense to keep it any longer for what we are paying in taxes and insurance. We are not abandoning the New Hampshire Seacoast because we love it. We can rent a place up here for a month for what I am paying in taxes and I don't have to worry about upkeep and insurance and we can fly up and rent a car while we are here.

The joys of a second home - my brother in law called me this week to let me know that part of my roof was missing and the decking was soaked through and leaking into my house.
I called a contractor who went to look at it and he noticed more damage. So, I get to drive up and meet with an insurance adjuster to hopefully get it replaced/repaired.

Met with insurance adjuster today. They're basically only willing to cover a minor repair and not replacement of the roof which is what i really should do. So - i can either eat the $15k cost or just patch it and go with that.

Also met with a realtor today to see what the market is doing. The number I was given for a patient (3-6 month) sale is almost right on what I thought the value would be. That's good...but it doesn't help sway me any direction in the sell/keep decision. If it was 10% higher...sell today. 10% lower...hold on longer. Bigger value would override any emotional attachment.

HumpitPuryear said:

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Have a little lake cabin that we love. Bought it years ago when values and taxes were low. Then the VRBO investors came and then the tax man came. Now it costs us $10k annually for taxes alone. Consider the vacations you can have for $10k every year not counting insurance and maintenance. We are going to sell soon and buy property out of state. Which will likely be our retirement place. It's great that the value of the property went up so much but we are basically being taxed off the property which sucks. Texas needs property tax reform but that's another subject. You should be aware that your tax situation can change dramatically in Texas.

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Had this exact conversation with my neighbor who purchased a Galveston bayhouse many years ago. Their taxes hit $12K last year which is double their current home's. They went maybe 10 times all year with their 2 elementary school kids. And that's just an hour drive

Once she started thinking of it in this taxes = vacation budget mindset she's over it. It also probably doesn't help when we talk to her about all the different places we go on vacation every year lol

They'll get the last laugh when they sell it and get a nice pile of cash to play with...if they sell. Kinda hard when that value keeps going up. Until then they'll just have to live vicariously through us as we sip mai tais on a beach in Maui

10 times is some pretty decent use to me.

swampstander said:

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I'm going to reiterate what a lot of people have said here. In 2015 I inherited half of my family's beach home in NH. I was able to do some real estate swapping and ended up with the entire thing. I was ecstatic. After spending $4000 to get rid of a squatter in 2017, we had to redo the entire place. New floors, paint, cabinets, counter tops, appliances, furniture etc... We settled in to our summer place spending June-August traveling back and forth from East Texas by car. I wanted what I had as a kid... a place where the whole family can get together and enjoy the beach. That happened exactly once. My son who has recently opened a new business lives in Tyler with his family. Daughter and her family live in So. California (at the beach). We are retired but coordinating everyone's vacation time, grandkids sports etc is a challenge. We are in the house right now getting it ready to sell. For the most part I am just tired of worrying about it and working on it. Did the recent storm blow shingles off? Are the pipes going to freeze when its minus 5 degrees? Every time we get here something is broken. Last summer it was the washing machine, this time the flag pole blew over and the basement toilet waste pump didn't work (fortunately I had a spare). We are growing weary of the four day drive back and forth every year and we feel trapped in some respects. There are other places we would like to visit but feel like we have to come here. We have noticed that our summer trips up keep getting shorter and shorter and its to the point that it just does not make any sense to keep it any longer for what we are paying in taxes and insurance. We are not abandoning the New Hampshire Seacoast because we love it. We can rent a place up here for a month for what I am paying in taxes and I don't have to worry about upkeep and insurance and we can fly up and rent a car while we are here.

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Our Beach House just went live if anyone wants to take the plunge.

https://www.zillow.com/homedetails/540-Hudson-St-Seabrook-NH-03874/95357882_zpid/

Editorial in today's Galveston paper Hope this link gets behind paywall but here are a couple of excerpts:

But the oversupply of houses on the market is real. What it means for the future is worth thinking about.


Galveston's housing glut rises from a one-time surge in investments in short-term rental properties that came out of the five years since 2020 in other words, the period of the Covid-19 pandemic.


Today, many owners are selling, and that has created the glut something like an 18-month supply of homes for sale versus a normal market of roughly six months. The oversupply in the 77554 ZIP code, the island's West End, is about 20 months.


It was a classic example of irrational exuberance.

Short-term rental registrations in Galveston spiked, rising from 2,300 in 2021 to a peak of about 4,900 in 2023.

Values may be going up, but so are expenses. Many years ago we went in with another couple on a house. Fixed upper. We got out after about 2 years.

They finally sold it late last year - they just weren't making $$ anymore after paying the management company and insurance. Now I don't know how much they made off the house, but it just wasn't worth it for them anymore.

HAR data shows that average price per square foot in Pirates Beach nearly doubled from 2018-2022, from $232 to $437.

That's incredible.

EclipseAg said:

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HAR data shows that average price per square foot in Pirates Beach nearly doubled from 2018-2022, from $232 to $437.

That's incredible.

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I'm ignorant, but I feel that can be said for most places in Texas. No?

you aren't kidding.

Just looked up the complex where my parents used to own and folks that bought in the past several years are getting slaughtered.

Yesterday said:

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EclipseAg said:

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HAR data shows that average price per square foot in Pirates Beach nearly doubled from 2018-2022, from $232 to $437.

That's incredible.

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I'm ignorant, but I feel that can be said for most places in Texas. No?

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maybe isolated pockets. but the (vast) majority of the state did not double in value over a 4 year period

Bought 17 acres land with AG exemption 1.5 hours from home.
Built weld up barndo for $40k, taxes still only $220 year.
I love it, but would not like it as much if I was paying "normal" property tax and insurance
Also bought in '21 with low interest rate so the fact it's appreciated 40% makes me happy. Again, I would not get as much enjoyment out of something the government is raping me on

Diggity said:

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Yesterday said:

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EclipseAg said:

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HAR data shows that average price per square foot in Pirates Beach nearly doubled from 2018-2022, from $232 to $437.

That's incredible.

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I'm ignorant, but I feel that can be said for most places in Texas. No?

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maybe isolated pockets. but the (vast) majority of the state did not double in value over a 4 year period

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The beach homes in Galveston went crazy. The mindset was "who cares about the price, interest rates are low. Plus, we can always rent it."

Now people are stuck with low rates but high principals. There are going to be deals.

AggieMarkSA said:

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Diggity said:

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Yesterday said:

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EclipseAg said:

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HAR data shows that average price per square foot in Pirates Beach nearly doubled from 2018-2022, from $232 to $437.

That's incredible.

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I'm ignorant, but I feel that can be said for most places in Texas. No?

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maybe isolated pockets. but the (vast) majority of the state did not double in value over a 4 year period

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The beach homes in Galveston went crazy.

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Indeed. I've been around Pirates Beach since the '90s, as a renter, a dreamer, an owner and then an interested follower. And the price escalation, even for basic back row houses, was insane.

EclipseAg said:

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AggieMarkSA said:

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Diggity said:

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Yesterday said:

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EclipseAg said:

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HAR data shows that average price per square foot in Pirates Beach nearly doubled from 2018-2022, from $232 to $437.

That's incredible.

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I'm ignorant, but I feel that can be said for most places in Texas. No?

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maybe isolated pockets. but the (vast) majority of the state did not double in value over a 4 year period

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The beach homes in Galveston went crazy.

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Indeed. I've been around Pirates Beach since the '90s, as a renter, a dreamer, an owner and then an interested follower. And the price escalation, even for basic back row houses, was insane.

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We looked at pirates beach, among other communities, in 2021-22. 600k + for a 3/2 1100 square foot bungalow with no view. No thanks