Tuesday, March 18, 2008

is a vacation home a liberating escape or an inescapable prison?

$2m posted recently about his dream of building a vacation home and ELYM's recent success in building one.

I have always been fascinated by the idea, however, my mother in law has very firm oppinions. I asked her to explain.

Her basic thoughts is that she doesn't want to be tied down to one place. Now my in-laws are expert travellers and have visited more resort places than I ever have. Frankly speaking, they have a very good point.

Perhaps this also flies into the why not buy a condo in the city (in addition to the suburban home).

In both cases it seems much easier, cheaper and simpler to rent a hotel room - even at a luxury resort. How many times do you want to use your vacation home, but lose the chance due to work obligations, sickness, etc....

After a while the vacation home may seem a bit dreary and uninteresting.

Then again, if you can put a stake in the ground and say I never want to leave this spot, more power to you. As for me, I like to move around alot.

Regards, makingourway


traineeinvestor said...

I've looked into this a few times and concluded every time that it is much better to invest and then stay at hotels or serviced apartments.

Not only do you get much more flexibility but, unless you make some heroic assumptions about the future appreciation of the holiday home against the return on the other investment you made instead, the financial aspects are hugely in favour of investing elsewhere and renting when you go on holiday.

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