Wondering if anyone else is in a situation where they have enough for a deposit but are deciding if it is worth it to enter a high COL market. Per UBS's recent housing index piece, they indicate that this market is fairly valued but I'm in the camp where properties are about 20% overvalued at this point in time. I spend a lot of time over the summer in a beach town and am thinking about owning a rental/vacation property there and renting my primary residence.
Do I buy a condo in this city, a vacation house, or continue to burn my money on rent and Airbnb's? Is it a terrible idea to buy a vacation house with some friends and form an LLC?
Would love some feedback.
