Hotels are great, but they are certainly not a good investment for visitors. Second homes, on the other hand, potentially yield a return while providing a vacation spot over which you have 100 percent control.

According to the Case-Shiller Home Price Index, home prices are up nationwide by more than 5 percent since last year. That means your vacation home might pay for your vacation. And you skip the booking hassles.

If you have grown weary of spending your summer in hotels and vacation rentals, consider joining more than half-million buyers who purchase second homes each year. Understand that buying a vacation home is not a sure-fire win. It is not like purchasing a primary residence.