87 - Own a vacation property . . . or have access to one . . . to enhance your lifestyle!

Reason for this Goal:  Own a vacation property.   No matter how nice a home or place you live, some of us just need a place to get away.  Having access to a vacation property, either one that you own, your parents own, or one that your friends own, is a great way to get out of the daily grind and get some time away.

Your vacation property should be at least 30 minutes to 6 hours away (by car), which you can frequent, preferably without taking a flight, unless you have enough wealth that a flight is not a deterrent.

Own a vacation property options . . . 

Options for having access to a vacation property (where you own it or someone else does, who likes you) include:

  • A cottage on a lake - There is nothing like a body of water (lake, river, ocean) to own a vacation property on. We've owned a cottage on Lake Erie since 2007, something we are grateful for.  
  • A villa in a foreign country - Many cherish their foreign owned property for the ultimate get away in another country. This is extra special if you own a property in an ancestral country where you have family living. 
  • A trailer in a trailer park - There are hundreds of affordable trailer parks in natural settings where you can own or rent a park model trailer. We started off our vacation property experience doing this, jointly purchasing a trailer in a resort community with over 1,000 nicely furnished and well maintained trailers, on a beach!
  • A getaway house in a private, natural setting in the woods - If you are a real outdoors family and enjoy being in the woods, build or buy a cabin in the woods to escape to. We have a family member who built their own cabin and used it as a base for hunting.
  • A beach house on the ocean - A beach house on the ocean in a great location would be the ultimate destination to escape to.
  • A recreational vehicle you can drive or leave parked at a camping site - Many find enjoyment in owning a recreational vehicle that is drivable to your choice of camping site. This is a much more affordable option than owning land.

Suggested Goal(s):    Own a vacation property.
Your Outrageous Goal:  Own or have access to 4 vacation properties, one for each season. 

Our lakefront cottage property, 1 hour away from our home, is the perfect place to getaway on weekends.

Our first vacation property was a cottage that my grandfather owned, near Buckhorn, Ontario, and we enjoyed many family getaways.   Our second was a park model trailer that we co-purchased with our best friends at Sherkston Shores resort on Lake Erie, a camp ground with a wide variety of amenities that included a water park, a swim quarry, and a drive-on beach for cars and golf carts. We then sold, and purchased, in 2007, our own lake front cottage property (pictured above), with two separate buildings, one of which we rent in the summers.      

A word of caution: owning a cottage can be a lot of additional work with maintenance and upkeep.    But when you’re at your vacation property, it doesn’t feel as much like work, as long as you take time to enjoy it.

Return to lifestyle goals.

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Last Updated: September 2, 2019