Financial Answer Center
Owning a vacation home sounds exciting. The thought of slipping away to your own private getaway sounds so inviting. But proceed with caution. Owning another piece of real estate brings with it the added responsibilities and costs of maintaining the property.
Before You Buy
If you think you are finally ready to own a vacation home, use the following list of questions to evaluate your motives. Keep an open mind and be brutally honest.
If you answered yes to one or more of the questions, reevaluate your decision to purchase a vacation home. Maybe you're not ready for the additional costs and responsibilities. It is also possible that you had some misconceptions about what it means to own a vacation home. If you are feeling unsure, read further to discover what it really means to own a vacation home.