When planning a vacation or business trip, traveling has many expenses. From food to lodging, airfare or car rentals, the amount of money travelers spend is growing.

chart_of_consumer_traveling_costs
Source: U.S. Bureau of Labor Statistics

As we can see from the U.S. Bureau of Labor Statistics, the cost of traveling has increased. The amount of money travelers spend on food is the most expensive cost when vacationing.

Lodging is the second highest cost when vacationing.

line_graph_of_traveling_expenses
Source: U.S. Bureau of Labor Statistics

So what does this have to do with vacation rentals?

When travelers rent vacation rental properties instead of hotels, they save money!

One example shows that in the off-season, a hotel room in Hilton Waikoloa Village on Hawaii’s Big Island is $174/night (without tax).

Or, you could get “A two-bedroom, two bathroom condo at Vista Waikoloa. It has a full kitchen, access to pools, hot tubs, and concierge service. $195/night (without tax).”

So which is the better deal?

Booking vacation rental properties are the most efficient way to save money.

Where Vacation Rental Properties Save You Money

Vacation Rentals Offer More Accommodations

Vacation rentals have features that hotels don’t. Such as Wi-Fi, TV, board games, and video game systems. These additional features function as selling points between vacation rentals. Yet, you aren’t charged for these extras.

You would have to pay for any additions if you stayed in a hotel. In hotels, these fees can include:

  • Parking services
  • Internet, telephone, movies, and TV channels
  • Laundry and cleaning fees
  • Mini-fridge snacks and liquor

Vacation Rentals Save You Money and Don't Charge Fees

Vacation rentals also provide:

  • Washer and dryer
  • Private parking and property
  • Extra features:
    • Decks and porches
    • Hot tubs and pools
    • Pet friendly
      • You don’t have to board your pets, bring them with you!

Vacation Rentals Save Renters Money On Meals

Food and alcohol are the most costly item for travelers. Access to a kitchen cuts down on the amount of money spent eating out. Hotels with kitchenettes can overcharge and are not as spacious as an actual kitchen.

An average hotel rate is between $125-$300/night. If you want an eat-in kitchen as well, expect that price to increase.

 

Vacation rental kitchens offer travelers cooking and entertainment opportunities. What do vacation rental kitchens do? They:

  • Save travelers money.
    • Do not need to buy an expensive hotel room with a kitchenette.
    • Save money by choosing to cook, instead of eating out.
  • Helps if you travel with picky eaters or allergies.
    • Finding a restaurant that everyone will love is challenging. Yet if you cook at your rental, you can have a meal which everyone will enjoy.
    • If you suffer from a serious food allergy, you may be more comfortable cooking for yourself.
  • Offers another space for family and friends.
    • A kitchen space is another room for family and friends to gather in. You wouldn’t be able to squeeze your in-laws into a hotel kitchenette, could you?

Vacation Rental Kitchens Offer Savings and Space

Vacation Rentals Have More Space

As you can see, there are many differences between hotels and vacation rental properties. This ranges from their rates, kitchen features, and overall space.

Depending on the location, vacation rentals can be equal to, or cheaper than, hotels. Vacation rentals can offer more living space. Such as outdoor property and sitting areas, like porches, decks, and sun-rooms. Vacation rentals also offer indoor spaces like formal dining rooms, living rooms, offices, or children’s playrooms.

Booking a vacation rental property will save you money and offer you more space

Example of Vacation Rental Space

Visiting an Area

Are you visiting a college with your children? Checking out a retirement location? Or just visiting a location you’ve always wanted to?

As we’ve discussed, booking a vacation rental property offers more savings over hotels. Staying in a vacation rental property will also provide a better experience.

Living in a vacation rental gives a temporary introduction into a neighborhood and community. Renting in a particular neighborhood allows you to experience the area’s weather and culture. The neighborhood interactions will help you decide if this area is right for you.

If you stayed in a hotel, it is likely you would have less of an opportunity for such experiences. Thus, booking a vacation rental will save you from future financial mistakes.

Vacation Rentals Allow You to Test Neighborhoods Before Making Financial Decisions

How Do Vacation Rentals Save You Money?

Vacation rentals are the best lodging decision for travelers. Vacation rentals provide extra amenities, more space, and lower rates than hotels. This allows renters to save money.

In what ways have you saved money when booking a vacation rental property? Do you have a favorite property you always return to? What makes it special?

Comment below to share your thoughts and experiences.