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What Kind of U.S. Vacation Home is Right for You? Take Our Quiz!

By Diane Amato

PUBLISHED March 29, 2023 • 1 min read

When it comes to buying property in the U.S., there are many types of housing to choose from. From sprawling single-family bungalows to cozy beachfront condos, there are many options to consider. Not sure what’s right for you? Take our property quiz to help you decide.

Which of the following sounds most like you?

If you answered mostly As

You’re looking for easy, no-maintenance living, so having everything you need at your fingertips is your priority. A condo unit in a building or a condo hotel may be the perfect option for you.

Condo units
The beauty of condo living is that there is no maintenance required. So whether you’re there throughout the year or just periodically, you can lock the door, walk away, and there’s nothing to take care of while you’re gone. Usually convenient to shops, restaurants or waterfront, condo units tend to be within walking distance of what you might like to do, and many come with a pool, games room and 24/7 security. Your monthly condo fees will go toward paying for these services and amenities. If you plan to rent out your condo, double-check with the Homeowner’s Association to ensure there aren’t limitations on renters.

Condo hotels
A condo hotel is a hotel where some or all of the rooms have been transformed into condo units. When you own a unit in a condo hotel, you have the option of making it available for rent to the public through an organized rental program. Rental revenue, which is shared with the operator of the hotel, helps reduce the overall cost of your condo. The best part is most condo hotels have wonderful features and services such as spas, health and fitness centres, fine dining, business centres, and often even valet parking, concierge services and housekeeping.

One consideration for this type of property is that it can be challenging to resell. If you plan on buying and then selling in the next few years, be sure to get some information from your real estate professional on how long these properties typically stay on the market in your target area.

If you answered mostly Bs

You’re flexible. A little maintenance is a fair trade-off for space, but a fully maintained property is okay by you too. Depending on your specific needs, a resort home or even the right single-family home might work for you.

Resort homes
Resort communities are typically gated or planned, offering beautiful scenery, high-end amenities, upscale homes, and many recreational activities such as golfing, skiing, beaches, or even theme parks. There are several types of resort communities in the U.S., including retirement, golf and luxury communities that feature spas and restaurants.

A resort home is a great option if you’re planning on making the property your vacation home and/or you intend on renting it out. Keep in mind that you will have to pay monthly maintenance and/or homeowners’ fees.

Townhome communities
Townhome living is a great choice if you’re interested in the feel of a single-family home without all the responsibilities of maintaining one. In most cases, a townhome community is governed by a homeowner’s association that sets the rules for the community and is responsible for maintaining the exterior and shared spaces. You often get your own backyard (or at least a patio and/or balcony), sometimes access to a common pool or clubhouse and a designated parking spot or garage — all without having to maintain the outside of your property.

Because someone has to take care of the maintenance, remember that you will have to pay monthly condo fees and/or homeowners’ association dues to cover costs such as landscaping, repairs, maintenance and garbage collection.

Single-family homes
If you’re looking for privacy and independence, you may be best suited for a single-family home. Detached, typically with a yard, garden, garage and multiple bedrooms, a single-family home offers the space to live comfortably and completely on your terms. Of course, this type of home comes with some maintenance work on your part, but if you’re planning on living there most or all of the year, a single-family home may be the perfect option for you.

If you answered mostly Cs

You’re looking for your own space. Perhaps with enough room for your family — whether they’ll be living with you full-time or visiting. There are many wonderful neighbourhoods in the U.S. to find your perfect single-family home.

Single-family homes
If you’re looking for privacy and independence, you may be best suited for a single-family home. Detached, typically with a yard, garden, garage and multiple bedrooms, a single-family home offers the space to live comfortably and completely on your terms. Of course, this type of home comes with some maintenance work on your part, but if you’re planning on living there most or all of the year, a single-family home may be the perfect option for you.

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This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.

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Home Ownership Real Estate

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