Often times, families have a favorite vacation spot that they frequent. After so many years pass, its natural to mentally calculate how much you’ve been spending over the years on rent, accommodatiGorgeous-Mandalay-House-in-Whitsunday-Islands-Australia-4ons, and travel. This causes a person (rightfully so), to wonder if they’re spending more renting than they would if they just purchased their own place. Well, there are lots of other things to factor in. Assuming you already own your own home, you should know that banks charge more for secondary residences than they do for primary ones. Below are some things you’ve got to think about when deciding if you should buy a resort house.

Obviously, when you rent, you are paying a nightly or weekly rent. The rent you’ve been paying decidedly has been based on how big the house is, how nice it is, what resort it’s located in, and the time of year that you go. For instance, if you love to go skiing during prime time, you’ve probably been shelling out big bucks. Ski resorts are iamgeactually one of the most popular places to buy, as families usually go to their homes there a few times a year to relax and ski. Rental costs in terms of ski resorts can seriously add up.

Keep in mind that when you buy a place, you’re going to have to pay higher tax and a higher mortgage than you are for your primary residence. The sis because the bank considers a second house an invesBestSkiResorts-15tment property, not a vacation home. You’re going to have to pay capital gains taxes as well, which are not cheap. One option is to save on some expenses by renting the home out when you’re not visiting. This won’t be an issue during prime seasons. It’s the off seasons that you’re likely to have trouble finding renters. This is why you can’t buy a property if you can only afford it by keeping it rented a few months out of the year. This means that you can’t afford the house, and should wait.

Buying a resort house is a very big commitment, and you really shouldn’t take the issue lightly. If you only visit twice a year and only stay for a few days, for example, it really might make more sense to keep renting when you go. If you go a few times a year and stay for weeks at a time, then, it may make more sense to buy. Good luck!


  1. Richard

    We had such a fun time decorating our second home. We purchased in a resort community (Destin) and have yet to regret it. However, we go there frequently. Not only during the summer, either. We love to go in the winter. We ended up buying in a condominium.

    • Barbara Wright

      Hi Richard! So glad that you love your beach home. It is definitely worth it for someone to buy a vacation home when they spend a lot of time there. Especially when you live only a few hours away in driving distance. Generally in this case, people tend to use the home more often as you can just hop in the car.


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