Have you always dreamed of buying a vacation home in paradise, but have hesitated due to the ongoing costs of ownership, such as cleaning, maintenance, furnishings and unforeseen repairs? If so, turnkey vacation rentals that are designed to function as your own personal residence and as an income producing property when you are away could offer the perfect solution!
In fact, owning a turnkey vacation rental can make both financial and logistical sense… Provided you buy a desirable investment property in a very popular location that also happens to be somewhere you like to visit regularly. When looking for the ideal vacation home, keep in mind that the best income producing property will have professional management on-site to handle all of the day-to-day aspects of running the property, resulting in a completely stress-free ownership experience for you that also provides excellent return on investment.
Getting the Best Value for Your Money
To maximize your ROI and get the best value for the money you plan to spend on a vacation property, it’s important to make sure the entire surrounding area – and the property itself – can provide everything would-be guests are looking for. This typically includes easy access to world-class attractions, the best local cuisine, shopping and modern upscale units with state-of-the-art services and amenities.
Here’s a short list of what to consider before buying:
- Fantastic Location
- Great Weather
- Stunning Natural Beauty
- Exceptional Lifestyle
- Professional Management
- Top Notch Services & Amenities
Just keep in mind that one popular tourism destination can be very different from another, so make sure you develop a good understanding of the area where you plan to invest. A great strategy is to talk with local real estate agents and ask for client testimonials if possible. Do some research into factors like trends in appreciation, area real estate pricing, the pace of new building and access to infrastructure, interstates and airports, as well as desirable attractions like top beaches, natural parks, adventure activities and more.
Where are you hoping to buy a vacation home? Let us know in the comments!
Ready to take the next step? Read 4 Secrets to Finding a Great Turnkey Vacation Home Provider and get started today!