If you’re lucky enough to have found your “happy place”—that magical destination you return to year after year to get away from the hustle and pain of everyday life—you’ve probably at least considered what it would be like to make the arrangement more permanent. You’ve given some serious thought to the enticing concept of buying a vacation home rather than renting one.
You’d have plenty of company. Vacation home sales soared to 1.13 million in 2014, according to the National Association of Realtors®. That’s the highest level since the NAR began the survey in 2003, and a 57% increase from 2013.
Just because buying a vacation home sounds like a dream, however, doesn’t mean that it would be one. Answer these questions to see whether it makes sense for you, or whether renting is the way to go.
