W
e bought our "second home" before purchasing a primary residence and have been happy with the decision. It's allowed us to build equity, generate income through rentals, and create lasting memories in a peaceful escape from city life.

    For many of us, homeownership feels out of reach due to high interest rates, low inventory, and bidding wars. In areas like New York City, prices are astronomical - over $1.3 million for the median sold price in Manhattan. We couldn't afford that, so we bought a vacation home upstate instead.

    We chose Lake George, where we'd spent countless summers camping and fell in love with its natural beauty. Instead of buying a primary residence in the city, we opted to rent it out online, which covers our expenses and turns a profit while building equity. When it's not booked, it's our peaceful escape from city life.

    We turned the house into a rental property, listing it on Airbnb and VRBO. It was booked for less than one-third of our first full year renting it out, but that was enough to cover all our annual expenses. We made a $10,000 profit and created priceless memories with family and friends.

    Our decision has shifted our perspective on success and homeownership. We're building equity, generating income, and making memories in a new space while still renting in the city of our dreams. The traditional path of buying a primary residence first doesn't reflect many people's reality anymore. Maybe it's time to flip the script and prioritize flexibility, side hustles, and meaningful time with loved ones.

    We look forward to many generations of family memories being made in our second home. It's been a game-changer for us, and we're excited to see what the future holds.