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Renting Vs. Buying a Panama City Beach Vacation Home

Renting Vs. Buying a Panama City Beach Vacation Home

Panama City Beach is a hotspot for vacationers. Many people on vacation choose to stay in a vacation home instead of a hotel because of the amenities and conveniences and sometimes lower costs. If you are one of the many who frequently return to Panama City Beach you have probably thought about renting a vacation home or even buying one. Maybe you have only been to Panama City Beach once and instantly fell in love with some of the most beautiful beaches in the world. Whatever the motivation to look into a vacation home, buying is certainly a bigger investment than renting. Let’s take a look at the pros and cons of both buying and renting vacation homes.


Renting VS. Buying a Panama City Beach Vacation HomeBuying a home means investing in the property with your money and building your credit and asset portfolio instead of paying the money to another home owner and investing in their property. Panama City Beach has a number of great management companies making it easy to rent your property to someone else on vacation while you are not using it. This can dramatically help with the cost of purchasing a vacation home. Owning your own vacation home means you can vacation in Panama City Beach whenever you want. There is no hoping to find a space or hotel room in peak seasons such as Spring Break time. Or maybe you like to vacation away from crowds you can make good money renting out your home in peak seasons. There is also a better chance of finding a home in your favorite spot.


With renting there is more flexibility in your decision of location for each separate vacation. There are no monthly mortgage payments, taxes, maintenance costs, and insurance. There is no responsibility to take care of the home once your rental period is over. There is also no risk of losing money should a property lose value. Panama City is a strong vacation market but it could happen anywhere.

The decision to rent or buy a vacation home is a big one and should be taken with much consideration and homework. Evaluate how often you vacation in Panama City Beach, the time of year you generally come to the beach (is it hard to find accommodations?), your ability to make a down payment and carry a mortgage on a home without stretching your budget. Of course, your financial situation should be the biggest factor in deciding to buy a vacation home. You don’t want to buy a home in hopes to rent it out and be able to pay your mortgage through rental payments as there is never a guarantee of constant rental. Be sure that you are able to make mortgage and tax payments as well as have extra set aside for repairs and rental management without living paycheck to paycheck. Also, consider how much you love Panama City Beach. Are the amazing white sandy beaches a destination you are sure to not tire of?

If you buy a vacation home in Panama City Beach be sure that this is a destination you see yourself returning to over and over again. We can’t blame you for considering buying a home here it is easy to instantly fall in love with Panama City Beach! 

Related: Short Term Rental: How to Write an Offer

For information on available vacation homes in Panama City Beach fill out our contact form. – Renting VS. Buying a Panama City Beach Vacation Home

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