Hey Family what do you think? Is Buying a "Vacation Home" a Good Idea
Any financial adviser will tell you it's a terrible idea. In
a day and age where searching for
private home rentals, vacation rentals and hotel booking is easy as touching
your phone, why would any buy a whole house just to guarantee a hot spot for a
few weeks out of the year?
Play the figures game.How much would you spend per year vacationing times how many years?
How much will owning a place all that time cost?Play safe and figure buying later may cost twice as much.Fact is that may be the opposite or pretty even but I like the 'prepare for the worst, hope for the best' when it comes to finances.Add in the hassles of owning vacant property long distance....remember things like no vandalism coverage.
Don't forget to count the interest as money lost.
Play the figures game.How much would you spend per year vacationing times how many years?
How much will owning a place all that time cost?Play safe and figure buying later may cost twice as much.Fact is that may be the opposite or pretty even but I like the 'prepare for the worst, hope for the best' when it comes to finances.Add in the hassles of owning vacant property long distance....remember things like no vandalism coverage.
Don't forget to count the interest as money lost.
So does buying your first vacation home still sound good to you?
Have A Great Cheap Cheetah Day!
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