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Show The Fun and Profit of a Vacatio Growing numbers of Americansare finding them a sound investment By THEODORE IRWIN 0 You dream of having a hide- away mountain cabin, seashore cottage, or A-frameski house other Bolg exr feet will pay fori of your own? Forat least three million American families, this dream has come true, and thir year another quarter-million are expected either to build or buy a second house. The weekend or vacation home, once a symbol of wealth and status, has now becomea fervent goal of those with moderate incomes. A University of Michigan survey reveals that fully half of American families want a second home, and one out of 10 is saving forit. Bill and Martha Car- Comfort is something you can't puta price on.That's whyit pays to buy boots that start out comfortable and stay that way. That means Wolverine boots. Like Wolverine Durables. Aside from beii light, well-styled, tough and a good value Durablesare also truly comfortable. So buy Wolverine Durables now, and yourfeet won't haveto paylater. WOLVERINE’ roll, for example, for years Boots you can take comfort in. had gone to Cape Cod for summer weekends and vacations, staying at inns, motels, and rented cottages. Gradually the Carrolls realized that, like the average U.S. family, they were spending as much as 10 per cent cf their income on recreation and leisure activities. Last year, they bought a small cottage, then rented it for three months to help pay for needed equipment. Behind the great demandfor away-from-it-all places are several factors: the increase in leisure and vacation time,better roads and highways that make ings, other features—often overlooked—usually make a vacation house a good investment. First, the value of a well-built house is likely to increase about 5 to 10 percent a year, especially if it is in a thriving region with such recreational amenities as swimming, have doubled in value during less than a decade. For my own lake-front cabin in Connecticut, I was recently offered 40 per cent more than I paid for it five years ago. My neighbors around the lake have had similar offers throughreal-estate agents. Asgood vacation property becomes scarcer, the upward trend continues. Dr. Richard Lee Ragatz of Cornell University, who made a far-reaching analysis of the vacation-home phenomenon, points out that increasing the equity in a house, while enjoying it, is “an importantcrite- rion for consumers with limited resources.” This growth in equity is regarded by most econo- mists as an effective hedge against inflation. To cover a substantial part of what it takes to own the house—tazes, maintenance, and mortgage payments—many a second-homeownerrents out his house for part of the season and off-season. Atone Gulf Coast beach resort in Florida, an owner recouped his entire investment in four years through rentals. Around Vermont ski slopes, vacation chalets rent for as much as $350 for a sevenday week or $100 a weekend. More than one property owner has used this income to build anothcr bedroom and bath. A third, though indirect, way of making a vacation homepay foritself rests on the concept of “leisure now, retirement seasonal homes easily ac- cessible, and the growing urge for relaxation in our ‘igh-pressure society. More and more, too, people are learning that it’s possivole for a second home to pay foritse!f, at least partly. That is. if youstart by figuring what it would otherwise cost for vacation stays at ho- tels or motels, weekend trips, summer-cottage rentals, and, perhaps, camp for the youngsters as well. Besides these actual savUR ue a ee elee CL ee Lehre ci 1970, WOLVERINE WORLDWIDEINC. ROCKFORD, MICH, 49241Hush Puppies® shoesand Wolverine® brand wotyenine Outs and Shoes ski products and gloves " |