Depends. Assume you have a primary residence. Would you be looking to upgrade your primary residence ? Do you have or want a 2nd vacation home ? Or how about buying a rental ?
Also depends on your age. How close to retirement are you ? If close to retirement, would you be looking to sell your current primary residence ? If you are younger, a long-term rental would make sense if your goal is investment.
Also depends on your family. Are you married, have kids, if so how many ? How much would they appreciate a vacation home ?
And not all real estate would cost 1.3 million. What about location. Would you be looking for a cabin in the mountains? A house on a Lake or River (fishing?). A house near the beach? A rental in your basic town may not be glamorous, but would be convenient.
If it were to be a second vacation home, would you actually spend decent amount of time there, or just an odd long weekend occasionally.
Like someone already said, be careful of the extra costs - property taxes, outfitting the house, repairs & maintenance.
If you just want easy street and not the hassles and extra expenses of a second home, then look at your desired cards.
If it were me, I would consider a second home in Maupin (with central a/c & heat) with a view of the Deschutes River. I love fishing and fly fishing in particular, and Maupin is close enough to get to nice higher elevation lakes out of Bend, OR. If money left over, be looking at a really nice Ruth card.
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