Asked by brenda  |  Submitted December 31, 2016

Is owning a vacation home that I rent out a good investment?

Report Question Report

  Leave Answer

Sign in to MoneyTips
By submitting you agree to our Terms of Service

  Answers  |  1

January 04, 2017

Hi Brenda,

The main question I generally ask is; “what do you want the Vacation home to do for you?”

It’s an individual answer. Many folks enjoy being able to offset the costs of owning a vacation home through renting. Many are actually making a profit by doing so. There are many variables to consider like: Your ability to manage this yourself or the costs of hiring a third party manager, repairs, maintenance, cash flows, insurance, debt management, taxes, location, economic viability, your exit strategy for the property (future retirement home, charitable donation, sell it to friends/family, and others), etc.

Some other areas to consider are time shares, REIT investments, etc.

You may contact us directly to discuss your needs for this vacation home or more about your situation in greater detail. No obligation

It’s not what you make; It’s what you keep that determines your lifestyle

$commenter.renderDisplayableName() | 10.01.20 @ 22:42