I don't understand how some of the middle-class people (e.g. a dive instructor) they depict can afford these houses, either. The hardest to understand is the Canadian housing prices. A 2 bdrm bungalow is 2x as expensive as the 4 bdrm home we raised our kids in, and we struggled to make those payments early on. At least in Hawaii, energy costs should be minimal if you can live without heat or a/c, all the plants you buy are perennials, clothing expenses are minimal compared to those of us who have to dress for 4 seasons, and property taxes are very reasonable thanks to the TS owners!
Nonetheless, I'll admit I still watch "Hawaii Life" mainly because of the scenery. :whoopie: <- That's my hula icon
In re to reality, I enjoy a lot of HGTV shows, but I really do wonder if any of them reflect reality. For instance, "Flip or Flop" gives the impression that you can renovate an entire house, including landscaping, for $35-40,000. And if you install travertine tile and upgraded appliances, you'll end up with a bidding war, and pocketing $70k! Uh huh. Next time, Tarek and Christine, how about employing licensed, legal, bonded/insured laborers and report back what kind of profit you make, because I've renovated 3 piece bathrooms that were more expensive than what you reportedly paid for a custom kitchen.
Then we have "Vacation Home for Free," which lures folks who've saved ~$100,000 or less into purchasing $500k-700k homes, by using the minimum allowed towards the DP, and committing the rest towards "smart, renter-friendly" renovations. Their premise is that once they spruce up the joint, their rental will command top dollar, and all the owner has to do is rent out x number of weeks during prime season, and that will be sufficient to cover their annual mortgage, interest, property taxes and HOA fees. Voila! A vacation home for free!
I mean, how irresponsible is that? What they DON'T mention is:
- As the economy goes up and the economy goes down, so do rental rates.
- It's very unlikely to book every week in prime season for prime season rates.
- In order to get those renters, they'll either have to pay to advertise on a site like VRBO and commit hours fielding calls and emails from prospective renters OR they'll have to employ a professional rental agency to do that on their behalf.*
- They'll also have to hire a local property manager* who will take care of issues as they arise. How many of these owners envisioned trying to find a plumber in another state who can fix a leaky toilet TODAY, or fielding 2am phone calls from drunk renters who want to know how to turn on the hot tub.
- That while most people are responsible, there will be renters who will treat their home like a flop house, and end up doing more damage to the place than they paid in rent, or who won't care that leaving the sauna on 24/7 just added $1000 to your monthly utility bill.
Just ONCE, I'd like them to produce a reality show that actually reflect reality, instead of the sanitized, glamorized version of it. Wouldn't that be a great show?
*FYI, my neighbor uses a professional rental/local agent combination firm for her vacation home in Hilton Head. They charge 55% of the rental rate for their services.