First Federal Bank Blog

If you’re planning for an extended vacation, a top alternative to staying at a hotel is renting a vacation home. For some, the idea of living in another person’s home and having to do chores, like cooking and cleaning, can seem like the opposite of a vacation — but renting a home can come with a lot of perks that enhance the entire experience. Below, let's look at some of the pros and cons of renting a vacation home to help you decide if it’s worth it for you:
 
Pro: Budget-friendly
 
If your group is large, the cost of renting a vacation home that is just big enough to accommodate everyone tends to be cheaper than booking several rooms at a hotel, based on the cost per person and bedroom. However, if your group is small, there may be a crossover point where it makes more financial sense to stay at a hotel. Make sure to shop around to determine where the numbers stand for your particular situation.
 
Pro: Better for big groups that get along
 
In addition to the lower cost, vacation rentals are the best option for large groups thanks to the greater freedom they provide. Children have space to play and pets may be permitted. There’s room to lounge and relax, cook meals as a group, and enjoy all of the amenities and privacy that a home can provide without having to worry about disturbing hotel guests. However, if family vacations tend to involve drama, you may prefer the ability to separate yourself from the group by having your own hotel room.
 
Con: No room service
 
One of the perks of staying at a hotel is the seemingly invisible hand that cleans up behind you while you go about your day. Plus, access to an in-house restaurant is always nice. While some upscale rentals offer concierge services, at most vacation rentals you’ll need to clean up after yourself, do your laundry, and cook your meals or eat out. Laying some house rules and splitting responsibilities with your group can help smoothen the experience.

Con: Less availability

Booking rooms at a hotel is usually straightforward. Hotels offer dozens if not hundreds of rooms, and are often just one of many other interchangeable hotels in the area. Even in tourist hot spots, availability can be great, even on short notice, especially with a small group. The same can’t be said of vacation home rentals, which have limited availability and often need to be booked months in advance. Rentals can provide a nicer experience, but managing to lock one down is certainly a tougher job.

Pro/Con: Uniqueness

There’s almost no limit to what a vacation home can be. It can be a simple apartment at the heart of a city or a luxurious mansion nestled in the forested foothills of a mountain. It can be a rustic tree house or a swanky cabin. This can be both a pro and a con. The uniqueness of the home itself and its location can be part of the vacation’s appeal, but it might come at the cost of knowing what to expect. Hotels are less exciting but their predictability can be comforting.

There are many factors to consider before deciding if renting a vacation home is your best option: your budget, the duration of your stay, the size of the group, the group’s dynamic, the vacation area, activities you’re looking to do, availability of both home and car rentals, and what you value in a vacation experience. It can be a lot to think about, so we recommend giving yourself a lot of time to plan ahead for that perfect vacation.