Executive Summary

• The matrix of factors to consider in a Plan B residence
• What to know abot eacf of the five key factors
• Not all second homes are fully functional
• The challenges & benefits of maintaining two separate fully functional residences

If you have not yet read Part 1: Does Your Plan B Include a Second Place to Live if Plan A Doesn’t Work Out? available free to all readers, please click here to read it first.

In Part 1 we reviewed the three basic categories of Plan B Residences: temporary (to ride out an emergency); semi-permanent (to weather a recession/loss of income) and permanent (replacing Plan A residence with Plan B residence).

In Part 2, we’ll consider a Matrix of Factors that will help us choose the inevitable trade-offs of costs and benefits, and add a category—permanent maintenance of two fully functional residences.

The Matrix of Factors

While there are many factors in any Plan B, I’ve pared the key factors in Plan B residences down to five: cost, control, security, depth of resources and functions enabled. Each is on a sliding scale from low to high. There are costs and benefits to each being low, medium or high.

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