Updated over 7 years ago on . Most recent reply
What's the point of a vacation home?
Not sure what category to put this post in, but here goes...
What's the point of owning a vacation home? I was reading that after commissions, cleaning fees, etc. you're probably only going to be able to cover half your mortgage (not to mention insurance, taxes, repairs, etc.). Not to mention downpayment of at least 50-100k. If you just went to airbnb or fancy hotels in the end you'd save a ton of money.
Yet many wealthy people own vacation homes. Why? My parents never owned one so I don't get it.
