Where to Buy a Vacation Rental Home
Christine Karpinski, author of the books How to Rent Vacation Properties by Owner and Profit from Your Vacation Home Dream, suggests that "anywhere in the US" is a good place to buy. This is because within almost every major metropolitan city, there is a vacation spot within a two hour drive.
Karpinski says, "If you live in Atlanta you can go to the North Georgia Mountains, you can go to Tennessee, maybe even Florida. If you live in New York City, you can go to Cape Cod, the Poconos, or Upstate New York. If you live in LA, you can go to Big Bear, maybe even Palm Desert." So pretty much, if you buy property in a vacation area that's within two hours of a big city, you'll probably be making a sound investment.
In her podcast, Intro to Vacation Rentals, Karpinski gives the example of Chicago. "People know about the lakes as a vacation spot," she says. "But don't realize that there are vacation homes for rent in the more remote locations Illinois and Indiana."
Often owners of second homes in remote locations don't think that anyone would want to rent their home. To that Karpinski replies, "Well you bought it and enjoy it, so why wouldn't someone else? It's a refuge from the city, so don't automatically assume that somebody's not going to want to rent it."
The one thing that you definitely need to check into before buying a vacation rental home is whether or not there are short-term or vacation rental bans effective in the area.
So the gist is: Choose a vacation property in a location that you enjoy and there will likely be a pool of renters who'll enjoy it as well.
Related Tags: real estate, investing, vacation home, second home, vacation rental, buying a home
For more tips and advice for vacation rental owners and those thinking about renting their second home, visit the Owner Community at HomeAway.com, a great resource featuring educational articles, vacation rental news, owner polls, monthly newsletters, and a weekly internet radio show by bestselling author Christine Karpinski.
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- Competing Bids
OK, here's the deal. You have found that perfect home. Its in the right area, has all the right bene - Home Buying 101 - How Much Earnest Money Do I Need?
Every home buyer loves the process of visiting homes and finding that perfect place to call home. Si - How to Avoid the Five Biggest Home Buying Mistakes?
While buying a home is without a doubt an exciting endeavor in some cases home buyers overlook thing - How to Find the Right House with the Right Layout Design?
Buy a home with a layout design that suit your needs and be comfortable for you is important. Unfort - Guidelines for First Time Home Buyers
Many first time homebuyer's feel as though they are limited in what they can buy because of budget r - Find The Best Realtor In Chicago
Moving from one home to another can be a stressful time. One the one hand, you are leaving behind a - Why Real Estate Options Are Less Risky, More Profitable, and Easier Use Than Most Property-Flipping Strategies Being Taught Today
The problem with 99 percent of all theproperty-f lipping strategies being taught today is that they - Buying Property in Mexico
If you plan to buy property in Mexico it is very important you receive as much information as possib - Struggling First Time Buyers In The UK - Look At Spanish Property!
With the average UK property price now reaching 100,000 pounds, rising mortgage rates and a tax mad - First Time Buyers
Interest rates are among the lowest in decades and the availability of housing of all varieties is a
Most viewed articles in this category:
- You Can Afford Your Dream Vacation Home
Part of the American dream is to own a second home where your family can gather on holidays or retre - 8 Real Estate Negotiation Tips
When buying a real estate investment:1. Check if the seller is motivated to sell the propertyIn real - Probate Real Estate - The Road Less Traveled To Real Estate Riches
Wonder why it's become so difficult to obtain foreclosure properties at deeply discounted prices? D - Hillsborough County Real Estate - Where the Younger Crowd Wants to Live
Hillsborough County, Florida includes the large incorporated metro areas of Tampa, Temple Terrace an - Sarasota Real Estate Sales Downtrend: A Buyer's Opportunity
Experts give advice to prospective buyers: Don't be afraid to bargain for your dream home in Saraso - 5 Myths of UK housing Market
1. A shortage of supply means prices will never fall. Often people will say because of high demand a - Laguna Niguel Real Estate Buyer's Guide
Laguna Niguel is a large community in South Orange County, CA. From a Real Estate Prospective, Lagu - First Time Home Buying
First time home can be a real challenge from learning all the real estate "Lingo" to trying to get t - Why Not in the Philippines?
According to an Ibon research, an estimated 3,000 Filipinos leave the country everyday to find jobs - The 6 Basic Steps To Buying A House, Condo Or Townhouse In Florida - Part III
In the previous article in this series I covered the second step - Beginning the financial preparati