Investing in a vacation home: Buy one yourself or invest through a fund?
There are two ways to invest in a vacation home: you can purchase a vacation home yourself, or you can invest through a real estate fund. Both approaches generate returns from vacation real estate, but they differ significantly in terms of tax treatment, management burden, and diversification. Which approach is right for you? In this article, we’ll Goldberg Gardens I the differences between buying directly and investing through a fund such as Goldberg Gardens I , so you can make an informed decision.
Investing in a vacation home means purchasing or co-financing recreational real estate to generate a return, usually through renting it to vacationers and capital appreciation upon sale. There are two ways to do this.
With direct ownership, you purchase a home in a resort or a standalone vacation home outside of a resort. You own one specific unit and are personally responsible for renting it out, maintaining it, and handling tax matters.
When investing through a fund, you contribute an amount that, together with contributions from other investors, is invested in recreational real estate. You then become a co-owner of the underlying property, while its operation and management are handled by professionals.
The difference lies not in the type of real estate, but in the degree of control, risk, and work that you are responsible for.
How does buying a vacation home compare to investing through a fund?
The difference between buying and investing lies in ownership, management, and diversification. When you buy directly, you own a single property and handle everything yourself. With a fund, you are a co-owner of a larger portfolio, and management is outsourced.
The table below compares the main differences.
In the following sections, we will explain the three most important considerations: taxation, administrative burden, and diversification.
What are the tax differences between buying and investing?
Since 2026, tax treatment has been one of the biggest differences between direct ownership and fund investments. With a vacation home you own, you may be subject to a tax adjustment for personal use and to transfer tax, whereas a fund structure handles these matters differently.
When purchasing an existing vacation home, you pay 8% transfer tax, which is immediately deducted from your initial return. In addition, the VAT on lodging is increasing from 9% to 21%, which reduces the net rental income if you cannot pass this cost on to the tenant. Also, starting in 2026, a tax addition for personal use will apply for the days the property is not rented out.
With Goldberg Gardens I , you Goldberg Gardens I in vacation homes that are yet to be built. As a result, the investment is primarily subject to VAT that is deductible at the fund level, rather than transfer tax. Would you like to delve deeper into the tax aspects? Then read our explanation of Box 3 in 2026, in which we compare flat-rate and actual returns.
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How much work does a vacation rental require as an investment?
The management burden varies greatly depending on the route. If you own a property, you either handle the rental, cleaning, maintenance, and administrative tasks yourself or outsource some of them. With a fund, that work is entirely handled by professional parties.
An individual cottage competes directly with large-scale operators in terms of marketing, pricing, and booking platforms. Landal and Roompot have merged into a single entity with 172 parks in the Netherlands. As an individual owner, you’re up against them all on your own.
At Goldberg Gardens I , leasing and day-to-day operations Goldberg Gardens I by Landal, which operates more than 260 parks in 8 countries. Orange Investment Managers is responsible for fund and asset management and oversees Landal’s leasing and daily maintenance activities. In addition, all costs—including major maintenance—are included in the fund’s projections. As a participant, you therefore do not need to worry about the day-to-day operations or the upkeep of the property.
What about diversification and risk?
Diversification is difficult to achieve with direct ownership, whereas with a fund, it’s built into the structure. Anyone who buys a single property is entirely dependent on the occupancy rate and value appreciation of that one unit in that one location.
Goldberg Gardens I of two parks in two different regions. Goldberg Gardens Vorden is located in the Achterhoek region of Gelderland along the Achtkastelenroute. Goldberg Gardens Bleijenbeek is located next to De Maasduinen National Park in Limburg. As a result, your return is not based on the occupancy of a single unit, but on the combined performance of two parks with different target audiences. This diversification is built into the fund’s design, so you don’t have to build a complex portfolio yourself.
Which route is right for you?
The choice between buying and investing depends on how much control, effort, and risk you’re willing to take on yourself. The decision guide below will help you get started.
You should choose to buy it yourself if you:
want full control over one specific home
you want to handle the management and rental yourself
deliberately chooses a single location that you know well
You should opt for a fund if you:
appreciates the return profile of recreational real estate, but not its operational and tax complexities
wants to spread operations across multiple parks and regions
want to be a co-owner of entire resorts, including amenities such as a wellness center, restaurants, and a central farmhouse
want to start with a fixed investment amount and professional management
People who currently own a vacation home and re-evaluate their options often find that a fund structure is better suited to today’s market. In our blog Investing in a Vacation Home in 2026 , we explain why our recreational fund is built around that new market reality.
Investing in a Vacation Home Through Goldberg Gardens I
Goldberg Gardens I is a recreational investment fund that allows you to become a co-owner of two complete eco-resorts, rather than a single vacation home. The targeted average direct return is 6.5% per year, paid out quarterly. You’ll receive 6% annually even during the construction phase. The projected total return, including appreciation, averages 7.5% per year over a term of 7 to 10 years. And, importantly, you’ll receive 1% of your investment in tokens for your own use at the eco-resorts.
You can invest starting at €100,000. Landal handles leasing, while Orange IM handles fund and asset management.
Frequently asked questions
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With a direct purchase, you own a single specific property and are personally responsible for all operating and maintenance costs. Through Goldberg Gardens I , you Goldberg Gardens I a co-owner of two complete eco-resorts, including all accommodations and central facilities. Landal handles the rentals, and the fund and real estate are managed by Orange IM.
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That, of course, depends on the fund you’re investing in. At Orange IM , the minimum investment in Goldberg Gardens I Orange IM Goldberg Gardens I ,000, consisting of ten shares of €10,000 each.
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