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Home is where the house is

Diary of a Real Estate Rookie

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We are slowly nearing the sale of my beloved beach house, which I bought with boom real estate profits in 2001. I had wanted an apartment, but my then-Realtor (and now my current boss) convinced me that a two-family house would make much more sense in terms of financial planning flexibility. "You can live in one half, and you can always rent out the other half," he said. "If you keep the house long enough, that will provide retirement income." While he was right about that, I don't think he had any idea how challenging a first-time home purchase would be, even for an experienced buyer of apartments. The roof leaked, the basement flooded, the water heater broke. I had to evict a bad tenant, and found that even a "good" one brought dogs that destroyed the screen door with their clawing. What's more, the sale has been a pothole-filled road, and I'm supposed to be good at sales. In New York City, the i's are dotted and the t's are crossed with mone...