Given our financial situation at the time, I wasn’t wild about the idea but decided to take the plunge anyway.
Before heading into any arrangement such as this one, you must have 100% trust that everyone in the deal will act in the best interest of the group.
I know that weird things start to happen when money is involved in family matters. If there is any indication of that potentially happening, it’s not the best idea to own a vacation home with family.
Setting expectations upfront may sound simple but it is so important. First, you must sit down with all family members to ensure everyone is on the same page.
Speaking of scheduling, it only takes a few minutes to set up a google calendar that everyone in your family can access.
A checklist is helpful for all of us and even more so in cases where we rent the place out.