In my opinion every decision should not come down to finances. Our house is a reprieve from every day life, it is a sanctuary, it is a place where my children grow and develop. It is a place we love more than any other. If you can afford two mortgages and find a place you love then I see no reason not to buy a vacation home. If you expect to make money or break even I’d say don’t do it.

We visit our house often to make repairs, paint and just get away from every day life. My children now 1 & 4 know our house as well as the one we live in full time. We sing songs about it and when they are sick they use our house a vision to make them feel better. Like rainbows and beach scenes.

I do not regret the choice but I am able to afford it. I bought it when I was 27 and earned a high income in the computer field.

Let your heart guide you. If your wallet is big enough choose your heart over your head.

My spouse and I are also considering a similar purchase in our favorite spot. We own an investment condo–a former primary residence of ours–that we we rented out as a vacation rental for a couple of years because we thought we could do better than a regular rental w/12 mos. lease. This was in the city we live in, which is a highly desirable tourist locale with 2 high seasons and several shoulder seasons. While this ultimately didn’t work out financially due to vacancy, I say all that just to note that I’m familiar with the ins and outs of this process, property managers, tenants, etc.

But as we now consider a vacation rental in a small town 2 hours away from our city that we will actually get to USE ourselves, I am torn because the cost is extremely expensive, even when rental income is factored in. There is no way around these numbers.

I’m sure you did this analysis and came to the same conclusion. And of course all the articles out there on this topic tell you “Don’t do it, it’s a waste of money! Just book a rental or stay in a hotel!”

So why, for you, was this the best decision you ever made? It would be nice to hear from a real vacation home homeowner rather than expert finance reporters from magazines. Thanks!