[Jims5543]

I normally do not put these sort of decisions up for strangers to make for me but I am more curious to see what others say. I cam honestly on the fence over this and from day to day hour to hour I change my mind.

We own a Vacation home in the Western NC mountains, its about an hour from Dragons Tail and 20 minutes from Cherokee / Maggie Valley. The town it is in is not a touristy one, more of a small local town a lot of tourists would pass through, I like that a lot.

Now here is my deal, I am really feeling anxious about the next few years and the economy, the business I am in depends on a decent economy. Although I will admit we have been pretty busy these past few weeks to 2 months I am not sure it will last.

If I sell my vacation home (I have 2, possibly 3 buys lined up but not in a hurry) I will be 100% completely debt free, no mortgage no bills nothing. The Audi even goes back on its lease in a couple of months and we own our other cars outright.

If I decide to make the vacation home a Vacation weekly rental I "might"make some money on it but the utilities and wear and tear will be murder.


I did some calculations and to make a trip up to the house by car costs $300 round trip just for the gas I would say a trip up and down runs us about $450 plus we need to stock the house with food etc...

Right now I am also carrying monthly electric bills (approx $60-100 a month) Dish TV and Dish Internet (about $100 a month) Property tax is $450 a year and Insurance is another $450 a year. I also have to have the lawn maintained and that runs about $400 a season.

We are trying to cut our spending right now and tighten up and I personally feel we bought this house 10 years too soon considering our financial situation and how business is.

I bought the house for$180K in rough shape, I installed real hardwood in the entire house sans the bathrooms and kitchen, they are linoleum right now and need to be done still. Car port was turned in to a oversize 2 car garage and the entire house inside and out has a fresh coat of paint.

We also had Terminex do its thing (no termites) and have insurance against any damage <--- that ran about $1800 initially and now its just a maint. fee each year.

Its an emotional decision, we have owned the house for 3 years now and its been awesome watching our kids enjoy it, and having family come visit us there, taking nieces and nephews up for the summer with us etc...

But, like I said I am VERY nervous about how things will be over the next few years. My gut is telling me sell it make a small profit, be 100% debt free and move on. Try again some other day.