Affordable Vacation Homes for Boomers

by Junior Boomer on July 6, 2009

In the golden years, many baby boomers flock to their dream retirement locations.   Times have changed.  Retirements have been postponed due to untimely cracking of nest eggs that were supposed to fund these years.  If you are still looking to buy an affordable vacation home, then you might want to consider these four locations.  The housing bubble pops painfully in many popular second homes areas and these are no exception. Median values fell 10% to 20% in the past year alone and are expected to bottom in the next 12 months.   These retirement locations might have your diamond in the rough….

1. Borrego Springs, California. Median home, $236,000.

borrego-springs-affordable vacation home


What It’s Like:This desert community near San Diego sits in the middle of a 600,000 acre Anza-Borrego  State Park. There’s hundreds of miles and trails for hiking, biking, and horseback riding. The De Anza Country Club and the Gated Montesoro development, which had the most historic homes.

If you go on frequent San Diego vacations, acquiring a vacation house there may not be such a bad idea at all.

2. Cripple Creek, Colorado. Median home, $133,000.

cripple-creek-colorado

What’s it’s like: Near the foot of Pikes Peak, the historic mining town is near great hiking along the American Discovery Trail, plus fishing in the near by Platte River. Scout Cripple Creek Mountain Estates, a planned community that still has building lots available.

3. Hyannis, Massachusetts. Median home, $244,000.

hyannis-harbor-affordable-vacation-home

What’s it’s like: You don’t have to be a Kennedy to afford a purchase in this picture perfect Cape Cod town, which boasts four Nantucket town beaches within walking distance of shops. Check out homes surrounding Hyannis  downtown, many of which have been upgraded recently.

4. Montague , Michigan. Median home, $104,000.

montague-michigan

What’s it’s like: Popular with Chicago-ians for beauty and affordable prices. Montabeau, above White Lake, which connects to Lake Michigan and it’s broad sandy beaches. Check out Lake side property, prices there have fallen the most and already expected to rebound first.

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{ 3 comments… read them below or add one }

Conspiracy girl February 28, 2011 at 8:19 pm

hi,
So loved the place especially this Montague , Michigan. Median home, which cost $104,000.
This is my dream home where I can sit and see the sunrise….
It’s very romantic place…

Henry Cork March 27, 2011 at 4:39 am

Peter Lynch stated clearly on his book one up wall street that he will always prefer business without competition, Anyone can start a software company, while mines, cannot be invented or started, they have to be there and there will always be a need. That it is why places like Cripple Creek, CO will always exits, even though not a major metropolitan center.

alex April 27, 2011 at 4:35 am

borrego springs looks stunning. I went to california many years ago and I enjoyed every moment, seems like a fantastic place to get a holiday home. Great tips thanks.

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