Renting vs. Owning

School is back in session and families are shifting their focus to ski season. It’s just around the corner. My phone has started to ring with the annual question – “Can you help me find a ski lease?” This question always makes me scratch my head. I watch the same families year after year spend $25k to $60k renting for the ski season. Why not own? What’s holding these families back from making a smart purchase in a vacation home that they would have already been using, and will continue to use for years? Most of these families that ski-lease also visit a few times in the summer and rent. When you add up all that money they “flush down the rental toilet” on an annual basis, it’s just doesn’t make good sense. When you combine the fact that they can own for less on an annual basis than they can rent with the low purchase prices and still relatively low interest rates of today’s market, it really leaves one wondering why not purchase now? Their kids sure aren’t getting any younger; and that small window of time to create family memories in a vacation home of THEIR OWN is quickly speeding by. Although the Tahoe real estate market has improved significantly, it’s still a great time to buy. Many smart buyers are taking advantage of the market and buying before they get priced out of the market again. Something to consider as you hunt around for that ski-lease.