Renting vs Buying a Vacation Home

Whether it’s summer vacation or winter break, everyone likes getting away for a little rest and relaxation. The only problem is deciding where to go and how much hassle you’re willing to put up with to get there. After all, flying to a remote destination may be the most peaceful choice, unless you’re packing for a family of three or four. A trip to Disneyland will certainly delight your kids, but it’s hardly a soothing experience for a parent. 

These are some of the reasons why many people choose to rent or buy a vacation home. Traveling to a single home base where you can unwind makes a getaway more fun for everyone involved. Plus, if you choose wisely, you’ll have a spot that’s located near activities and amenities for all family members. What could be better? 

The only thing left to decide is whether it’s better to buy or rent. Of course, this decision depends on a million factors and can be hard to navigate. That’s why we’ve put together a few pros and cons to help determine the best path for you and your family.

Live Like a Local

One of the best things about staying in one spot for a while is that you get to really know an area. Locals know where to find the best restaurants, the prettiest beaches, and the most exciting activities. When you visit a place once for a few days, you remain a tourist, looking at the community from the outside. When you stay for a while, you get to make lifelong friends. If you enjoy immersing yourself in a culture or achieving another level of comfort, it makes sense to buy a property. Ultimately, buying a vacation home (whether you go for a mountain cabin, a beach house, or a vacation villa) lets you settle in and really relax.  Of course, some folks prefer to jet-set around the world with their kids, taking in new scenes and cultures everywhere they go. That’s great, too! If you’re more of a tasting-menu kind of person, renting could be the best option. That said, this kind of travel (while exhilarating) can be rough for a family. So, it’s worth taking the potential inconvenience into consideration when choosing the nature of travel you’ll be doing for your next getaway.

Make Yourself at Home

Speaking of traveling with family, packing for three or four folks can be a big nuisance. And packing all kinds of activity-related gear can be even worse. Who wants to bring all the bikes or skis to the mountain cabin every time you drive up? Or tie a kayak to the roof of the car again? No one, that’s who. Sure, some vacation home rentals may include equipment, or be near a gear rental spot, but that’s hardly a reliable option. When you own a beach house or a vacation villa, you can leave your belongings there. Not just kayaks, but clothes and dishes as well. Just show up and start relaxing. 

If you’re not a gear-heavy family, maybe you don’t need the reliability and convenience of your own vacation home. In that case, a beach house rental could be a great option for your time off. Renting a vacation home gives you a degree of flexibility, to be sure. The question to ask yourself here is what you value more — flexibility or convenience? The answer will help you decide if renting or buying serves your family’s needs. 

Host the Whole Gang

Vacations present the perfect opportunity to spend time with loved ones. All those friends and family you miss during the year, each busy with their own hectic lives — now is the time to catch up. The only problem is a lot of vacation home rentals have pretty strict guest policies. It may be against the rules to host family friends for a cookout, for example, or have your kids’ friends stay the night. Those rules can really cramp your style. Naturally, owning a vacation property means you make the rules. Want to have your best friend and their family over one weekend and host a family reunion the next? Great! Go for it. Again, it’s important to ask what your family values more — a solitary getaway or time away with family and friends? This will help you choose between renting and buying. 

Ultimately, only you can know what’s best for you and your family. Whatever you end up choosing, there are plenty of options out there. The most important thing is to enjoy time away with the ones you love!

If you’re looking to own your own vacation home on the Carolina Coast, give us a call at 833-767-1745 or make an appointment online.