It used be that a vacation second home was a symbol of wealth. It was a sign that one had achieve financial success. However, that was then. Now, vacation homes are become an anchor, in more ways than one.
We didn't consider getting a vacation home since that meant:
- Maintenance costs for another home, that may be distant, and used only a few weeks a year.
- Committing to visiting as much as possible, so that it would "payout." Hint, it doesn't.
- Limiting other vacation choices.
Without the anchor of a vacation home, we can choose, with no regrets, any location we wish to visit. In addition, paying for hotel costs is far lower than the costs of owing and maintaining a vacation home. Finally, we don't need to decide who will inherit the vacation home when our time comes.
Given the current situation, it looks like we made a good decision not to "invest" in a vacation home.
This is not financial advice. Please consult a professional advisor.
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