Every dream of a vacation home comes with a stark financial reality.

According to financial advisors, it is crucial for purchasers to consider the unforeseen expenditures and hazards that come with that beach house when mortgage rates rise and the housing market cools. According to Realtor.com Chief Economist Danielle Hale, the majority of vacation home purchases occur between the end of the previous year and the beginning of the new one. For instance, according to Realtor Brit Crezee who specializes in the Lake Tahoe area, August and September are typically two of the busiest months of the year as buyers dream about spending the winter holidays in a new home and sellers look to avoid having to maintain the property during the winter.