Home Rentals vs. Hotels: Which Is Right for Your Trip?

Whether it’s a long weekend or a week-long getaway, planning a trip away from home always requires careful planning. But if you’re traveling on a budget – and many of us are – it can require extra research.

One of the biggest decisions you’ll make – and one that will likely require a significant amount of research – is where you’ll be staying. In terms of sticking to a budget, getting a good deal on your vacation accommodation is essential. And you may find yourself wondering if you should stay at a vacation rental or hotel.

We’re here to break down the basics for you so you can make the best decision for your getaway – and your bottom line.

Are vacation rentals cheaper than hotels?

That’s a good question that depends on your circumstances and priorities. To figure out which vacation accommodation is best for you, and your budget, consider the following factors:

• Location Where will you be traveling? Home rentals in some parts of the country, especially touristy areas such as New York City, are more economical than hotels¹, while the opposite is true in other areas.²

• Time of year Will you be traveling in peak season or off-season? This can make a huge difference in rates for both hotels and home rentals.

• Space needed How much space will you need? If you’ll be spending most of your time out and about, a comfortable bed and bathroom, and perhaps a mini fridge, may be all you need. But if you’re planning a family vacation, where you’ll need a home base and space to unwind, a home rental may be a better choice.

• Amenities If a relaxing vacation to you means not making your bed, endless fluffy towels and premium bedding, then a hotel stay may be your best bet. But if you’d rather have a kitchen, more space and a live-like-a-local experience, a home rental may be for you.

How can a home rental help me travel on a budget?

Home rentals can be a smart choice when you’re traveling on a budget. Here are some of the ways renting a house or apartment can help you plan an affordable vacation:

• Food and drink
  Even if you’re being thrifty, restaurant meals – even moderately priced takeout – can quickly add up. So can beverages, especially alcohol. Renting a home gives you the luxury of a full kitchen, so you’re able to bring or buy your own groceries and cook your own meals (and make your own cocktails). You can even prepare sandwiches and take them for lunch on the go.

• Laundry
  The ability to do your own laundry is a huge plus of renting a home. (If you’ve ever looked at the cost of hotel laundry services, you probably decided that you’re actually fine with wearing those pants one more day!) It’s not only convenient, you can actually pack less, which can save you on baggage fees if you’re flying to your destination.

• Splitting the cost
  It’s amazing how the price of a home rental can decrease when you’re splitting it with a group. So if you’re already planning a vacation with friends or extended family, consider pitching the idea of renting a home. You’ll not only save money, you’ll have extra room to spread out, have fun and relax.

• Negotiation
  Something you can’t typically do with hotel staff is negotiate price. But you can do it with the owner of a vacation rental. If the daily or weekly rate of a home rental is out of your price range, or you’re looking to shave a little bit off to accommodate your budget, just ask. You may be surprised when you get the discount you need.

• Staying longer
  A longer home rental stay oftentimes translates to price reduction. So if you’re planning a six-day vacation, why not make it a full week? That extra day may wind up making your vacation even more affordable.

Can I plan an affordable vacation while staying in a hotel?

Sure you can! Home rentals aren’t the only way you can travel on a budget. Hotels can help you vacation on a budget, too. Here are some ways you can save:

• Points
  Allegiance to a single hotel chain can pay off. If you’re a frequent traveler and have points to use at a certain hotel, now’s your chance to cash them in for a discounted rate or comfy upgrade.

• Discount websites
  There’s no shortage of websites dedicated to finding you the best hotel rates. And, while you may not be keen on booking vacation accommodations at the last minute, you’ll find the best discounts the closer you get to your departure date.

• Freebies
  Any hotel enthusiast will tell you one of the nicest things about hotel stays are all the freebies. Yes, there’s shampoo and shower caps, but there’s also usually free coffee and tea, Wi-Fi and everyone’s favorite: free continental breakfast. If you play your cards right, you can even score a free breakfast buffet, happy hours and, depending on your where you’re staying, beach gear or bicycles for the day.

• Special deals
  From free parking to a romantic dinner for two, hotels will sometimes offer special deals wrapped into the cost of your stay. To keep up with the latest discount packages, sign up for emails and alerts from your favorite hotel chains, then strike when the iron’s hot to rack up the savings.

Take your time and do your research

When it comes to vacation rentals vs. hotels, it all comes down to personal preferences and research. Figure out what you want and start planning early. Scour the internet. Ask savvy travelers for tips. And don’t be shy about asking for discounts. All your hard work will pay off when you get a great deal - and make your getaway that much sweeter.