Use a financial equation to figure out whether your new place is worth it.
If you want to know whether a vacation home is worth its price, there's one equation you should follow.
Look at the total monthly costs of the property — including the price of rent, utilities, renovations, mortgage, and taxes — and see if you can make what you'd spend on a month by renting the property for a week.
If you're able to make enough to cover the month's costs by renting for a single week, you're in a good place.
There are typically 12 weeks in the high renting season, so you want to ensure that you're making enough in the high periods to make up for the low ones.