Update in case anyone is helped by data...We bought our ranchito right before covid. It has been awesome for our family and time with friends. A little less than 1.5 hours away and I can't understate how important that short drive is. It's in country so once we are there, you don't see anyone.
Also, I had never thought of difference but there is a second home and a vacation home. We bought a second home, not a vacation home.
Costs for all stupid shit you don't want to own two of but now do, like ladders and pots and cheese graters and waffle makers : $6,000. (Does not include furniture which is a shit ton more)
Insurance plus all utilities/fiber: $600/month
About $4,000 per year on repairs of some kind (freeze burst all pipes, metal roof rescrew, etc)
Days stay (easy to calc because of utility usage on days there)
2020 = 107 (covid)
2021 = 47
2022 = 54
2023 = 50
Taking into account mortgage plus taxes plus bills plus furniture, daily rate of stay is a crazy $500 +/night.
That makes you think "fuck that" as it almost does me.
But then equity we've built if we sold would make that number likely go negative per night (lucky timing). Also, the mental health component is invaluable. Covid was fun for us rather than miserable. And the amount of time we spend with our family and friends actually has gone up since we constantly host people. And we are more relaxed in country than when in city where we are going from one birthday party to the next or some store to buy some useless thing.
Added bonus: the amount of electronic time for our daughters plummets when in the country versus when in Houston so we actually do way more random stuff together like board games and campfire time
Negative: Constantly having a set of errands to do like a leaky toilet or some fencing issue or some other bullshit chore. And for my wife, we are lucky enough to have a housekeeper in Houston but she is back to cleaning toilets and showers (great problems to have so I feel bad writing the negatives). If you feel stressed with more on your to-do list, I wouldn't buy a second home.
We could air bnb house, especially because of proximity to Round Top during their festival weekends, but we love our stuff being our stuff so not worth it at this point for us. That could change if we stop going as much but hopefully not soon.
Hope this helps inform a future decision for one of yall.
In a nutshell, if you like your family, this is a fantastic life choice.....but make sure it isn't too far away.