If you have kids and live near a body of water and will use ALOT then buying a boat can be great. I bought a new pontoon, rarely used it, but I do not regret buying it. We had fun when we had it but it's a big expense. Sold it very quickly and actually got a good price for it. That said, no longer a fan of pontoons. If I ever buy a boat again I am getting a good deck boat. Has plenty of room to party on but also handles much better on the water. Got sick and tired of the pontoon giving me a concussion every time a boat went by us. Trying to drive it through waves and all was a pain. We had a 115 motor so it moved fast enough to ski and all on, but I would go the route of a deck boat like a Hurricane. Not real expensive if you buy one used, moves much easier on the water, and has enough room to party and fish on.
That all said, if you are not going to use much and/or do not have extra money to spend on a boat, far and away the best route to go is renting one . If you just want to pull the kids around on a tube then a newer jet ski is an option but they get boring fast. 4 cylinder motors are a must these days.
Boats, jet skis, etc are only as good as how much you use them. As long as you do not go bankrupt buying one and can deal with the extra costs of a boat they can be a lot of fun. To each their own.