I work for an international company and often have to travel from London to Palm Springs, CA last minute. This means hotels cost a fortune (I get an allowance for travel, but it doesn't cover it).
I was thinking of buying a house there. I could use it in the summer with my family, use it whilst on business and rent it out using Air B&B. Normally I spend around a week per month there, as well as the summer time.
I've looked at listing the last couple of times I've been over there and it looks as if I can pick up a nice home for less than $500,000, meaning I wouldn't need a mortgage.
Does this sound like a sound investment? I've always wanted to move out there in 10-15 years (when my children have left home), so having a property out there is helpful.
Added (1). I am already a US citizen from when I lived and worked there a few years ago. I obviously went through the legal pathways for this.
Also, the figures for the hotel stays you quote are wrong. I often don't find out until the day before i am due to leave, so flights and hotels are a lot.
The $500,000 is what I am willing to pay. That is not to be scrutinised. My wife and I have built up that figure from working hard.
Read more: Buying a home in a place I go to around once a month - good investment?
