If you somehow managed to buy a lot of properties...?

Question

If you somehow managed to buy a lot of properties, one in each US state and one on each continent outside North America (excluding Antarctica), therefore owning 55 properties, and counted all but one as vacation property, would it be worth it? Notes: each spring/summer, you would spend 5 months traveling from US house to US house, all situated near your favorite spot(s) to visit in that state, each stocked with basic necessities like clothes and staple food, and this allows you to always "sleep in your own bed," not renting hotel/motel rooms. Then you would spend one month each year in a house on each of the other 5 continents, mostly making day trips from that location to see sites. But, for the last two months, you would live in one of the US houses. You would keep the houses for 5 years and experience the world in this way. So, would the money saved in fees normally paid by travellers who did not own so many homes make the cost of taxes worth it?

Answer 1

This isn't really a tax question, since you would only get deductions for your one "main home" and ONE vacation home. The savings wouldn't be in taxes, but in time spent finding a place to stay and having to cart your belongings around with you. So if you had enough money, sure, you could do that. But would you really want to spend an equal amount of time in each state? And that five months visiting all the states - that's around 3 days each which would still be a lot of moving around, not even counting travel time (with that much money I assume you'd have your own private jet and pilot, so could go whenever you want to - time spent driving or in airports wouldn't be a factor).

And frankly, even choosing and buying that many homes would be a MAJOR pain.

Wouldn't be my cup of tea, even if I had the money to do it, which I don't. I might buy a large motor home and hire a driver, and travel around the US that way. The motor home could actually count as a vacation home for tax purposes, although it wouldn't make a lot of difference given the amount of money I'd have to have to do all this.

Answer 2

This is really an odd question. Do you really think it would be cost efficient to have these many houses? I don't think so because look at all the bills you will have to pay, gas, water, electric, the mortgages, the home owners insurance, property fees, maintenance to the house and land, etc.

Then the location of the home you want could cost you thousands, hundred of thousands, or even millions. Again, depends on location, location, location.

Do some random math on something frivolous as this versus actual cost.

Answer 3

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Answer 4

Absolutely..the benefits out way the tax consequences.
If your thinking of it..and decide you are...I volunteer to carry your bags.