Should my parents try to maintain 2 residences (snow birds)

[ExcuseMyIgnorance]

My parents will be inheriting a house is AZ. They live in Virginia. They want to keep both houses but I'm not sure that's wise. Financially speaking, it's terrible if one house sits empty half the year. They aren't the hardest workers so they don't want to rent either out when they are away.

Does anyone here maintain 2 residences? My concerns:

Vandalism
House issue (like water leak) when no one is around
General expense of maintaining 2 households

[disneysteve]

You haven't really provided any information so it's hard to say. Certainly, there are thousands and thousands of snowbirds out there who maintain two homes and do it just fine. I've had relatives who have done it over the years (before ultimately moving to the warm-weather locale).

They really need to sit down and go over their finances and figure out all of the expenses involved in maintaining each home and see if they can truly afford it and still pay their bills and maintain adequate savings.

[Fishindude77]

We have a second home on a lake in Michigan, had for about five years now, five hour drive from home. Our kids and grand child live pretty close, so that's a plus. Had it in my mind that it would be a good investment, because I bought when real estate had about bottomed out. Turns out nice lake front stuff never goes down that far, so prices haven't really gone back up much. So much for that idea

My thinking was, if we are going to do this, I'm going to contract out all of the work and upkeep, so that when we are there, we can be enjoying things, not working. I've got someone to cut grass, plow snow, pull docks and boat lifts in and out, deliver some firewood, winterize and store the boats, maintain the lawn sprinkler, etc. Kids check on the place when we are gone for an extended period, so that's the only thing being done for free. Previous owner had a "winter watch" guy they paid.

Then there is upkeep. This year alone, I've had to do some electrical re-work, exterior painting, re-stain the wood decks, replace the roof and seal the asphalt driveway. The roof is an every 15-20 year thing but the other stuff is routine type stuff you will have some of every year if you want to keep the place nice. Taxes at this place are pretty hefty too, about $8,000 per year.

We enjoy it, but it does suck a lot of cash, probably $20,000 per year plus or minus, all included. I've probably averaged staying there (20-25) days per year, and wife gets up there quite a bit more, probably (50) days per year. It's a great place to take family and friends for vacations, and close enough we can do extended weekends pretty easy. When it gets to the point we aren't using it as much and keeping the maintenance up, we'll unload it.

Renting is a valid option to consider. My neighbor gets $3000 per week for his, probably rents it (6-8) weeks per year or so? He's rents thru VRBO and has a realtor to show the place and let people in, then a housekeeper to clean thoroughly and make ready for the next group. That costs a few bucks, but he surely nets $2300 per week after that?

Any issue you have with your present home you will have with a second home, and you need to be willing to pay someone to take care of things in your absence.

[WEL]

Personally, I would never own a property that sits empty for half the year. Since you're posting this, you're probably concerned with their financial well-being. I'd try to talk them out of it.

[Joan.of.the.Arch]

What are your parents' thoughts about it?