Boats, timeshares, recreational vehicles and vacation homes are all marketed as good investments. But when maintenance fees, repairs and gas prices are factored in, owning is more expensive and time-consuming in the long run than renting.
The Street has narrowed down a list of the five worst things to buy if you aren’t rich enough to stop working:
Vacation homes – taxes, upkeep and insurance make owning one more expensive than renting one
Snowmobiles, jet skis and all-terrain vehicles – cost more to own than rent if you don’t use them every weekend
Recreational Vehicles – equal to the price per night of most hotel rooms in the U.S.
Boats – cost a lot to maintain
Timeshares – easy to rent at a fraction of the cost of owning one
To read more about the five expensive things you shouldn’t buy, read more at The Street.