Well it took 7 months, but apparently MP Dunleavy is now regretting her decision to buy her second home while renting out the first home.  I mentioned this was a stupid idea in December 2007 here.  And last month I asked why is she complaining about paying off debt?  Especially since she was reducing retirement savings to pay off debt here.

Right now in the current article is writes

C) You fall in love with a house that is slightly too expensive, but is too much of a gem to pass up. So you buy it, deciding to rent out your first home, even though you have no experience as a landlord, and covering all expenses requires fast action (finding tenants and a job for a stay-at-home husband) — and a special harness that enables flying by the seat of your pants.

She says that she is suffering from second guessing her decision.  That being a landlord has been both a headache and bankache. That is wasn’t as easy as she guessed and more expensive. 

She’s writing for the masses right now.  This is the reality of being a landlord. It’s not easy money or an easy fix to buying properties.  Nor is it a cheap alternative to selling a home. Sure you might get close to covering a mortgage but there are other expenses involved in renting out a property.

Also MP has been worried about the rising costs of heating. Can’t help but agree since we live in similar climates.  But everyone I know has mentioned this to me since 2006 when oil/natural gas prices were rising and we had moved to the area.  And last year our natural gas provider sent out a letter in March 2007 that prices were rising 40%.  This year they sent another letter out.  So we’ve known for 2 years that costs of heating homes were going up a lot, and it’s doubtful they’ll ever go down.

With all of that, MP still thought buying the bigger home a great idea.  I wonder if she could go back and were given the opportunity to have a mulligan would she?  Have you ever bought a second home without selling the first home?