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Vacation Math OR How to share a beach house?

If you rent a vacation home with extended family (a week at the beach or the mountains, for example) -- how do you do the math? Once upon a time the grandparents paid for the house, our parents paid for the food. The grandparents are gone, but the tradition continues! My siblings and cousins and I (the next generation) are trying to develop a new financial model that's equitable?

It's not like we have 4 families and can divide by 4 ... Hardly anyone's married, no little ones (yet), some can't stay the whole week. How do we handle guests? Do we formulate a daily rate?

As for food, different families/couples/or other combinations of adults take turns cooking dinner. You're responsible to buy all the groceries for your night. There's a general grocery fund that covers some basics for breakfast and lunch, toilet paper and laundry detergent ...

Any/all suggestions are welcome!

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Lindsay47's picture
by Lindsay47 5 mon. ago.

I guess I really can't help out here. Funny thing is we just did this and the grandparents did pay for the house and the parents bought all the food. I didn't realize others did it this way too!

blog85483's picture
by blog85483 (not verified) 2 mon. ago.

I can not understand how you want to share/rent your home without your grandparents. Where your grandparents paid for this house. Thank you for asking. sharm el sheikh holidays

JoeyEstate's picture
by JoeyEstate 1 mon. ago.

Usually my parents cover 50% of these fees. I have just started my life and I definitely could not afford all that. Glad you pointed this out here! Have you ever considered adding more videos to your blog posts to keep the readers more entertained? I mean I just read through the entire article of yours and it was quite good but since I'm more of a visual learner,I found that to be more helpful well let me know how it turns out! I love what you guys are always up too. Such clever work and reporting! Keep up the great works guys I've added you guys to my blogroll. This is a great article thanks for sharing this informative information.. I will visit your blog regularly for some latest post.
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JoeyEstate's picture
by JoeyEstate 1 mon. ago.

Ditto prior response. Don't do it unless you are able to pay 100% of rent, utilities, fees, etc. when your roommate(s) leave, become unemployed, have their wages garnished ...

Establish ironclad rules regarding "common areas," i.e., keeping kitchen/food prep area meticulously clean, identifying your personal food or beverage in fridge. Ditto bathrooms, entryway, laundry room, living room/family room, dining room.

Be sure that your friends have similar personal clocks. If you practice your violin every Saturday morning at 9:00, this could cause friction with the roomie who sleeps until well past noon. If you must go to sleep at 10:00 pm, you will not be happy with the roomie who test drives the new sound system at 11:30 pm.
Regards,
Dubai Hotel

papaputy's picture
by papaputy 3 weeks ago.

How to share a beach house?give more details.
flooring

carlossonrenso's picture
by carlossonrenso 3 weeks ago.

Call me anti-social but i don't like to share a house.
I was former fan of time share but not anymore.
I rather pay an extra buck but be there alone.
Cheers.
---
pinamar apart

croaswife's picture
by croaswife 3 weeks ago.

We count kids as 1/2 a person and adults as a 1 person and divide out the rent this way/ So if you have 10 adults and 6 kids the total rent would be divided by 13 for a "per share" cost and you would pay for whatever your family's share was. We do not count babies under 2 or charge for them. So a family of 2 adults and 3 kids would be 3.5 x the per share price.

We have each family bring/buy their own cereal, snacks, soft drinks and adult beverages since most families have their own particular tastes.

We split cooking/cleaning duties and tally up food costs for dinners, ice for coolers, milk, bread, eggs, juice, butter (all the commonly used items) etc. and divide the same way - kids only count as 1/2. At the end of the week we settle up by tallying all the receipts and those that overpaid get reimbursed by those that underpaid. Sounds complicated but we have found it to be the most fair way and with practice it gets easier.

dew_drops's picture
by dew_drops 2 weeks ago.

Well its difficult to generalize these things for every family. It depends on how comfortable you feel in adapting a financial plan.
Cheap Holidays

anne27's picture
by anne27 2 days ago.

You could decide each year in advance who is going to pay the rent next year, and where you are going in vacation next time in such a manner that any of you will have to take responsibility for it once every few years. When it comes about food and drink i suppose you all have different tastes. I think that the best thing to do is to have most of your meals in a restaurant, where everyone can decide for themselves.
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