Would you like a second home at the beach?
June 5, 2009 Do you love your ocean vacations and long for a second home at the beach? Buy that second home and let it help pay for itself as a vacation rental. Beach area homes are in high demand, so they don’t get hit with the down side of the real estate market to the degree other segments of the market are affected. You need to work with a broker who is experienced with both real estate sales and vacation rental management so you can understand the ins and outs of vacation rental ownership. Having a house at the beach is wonderful. It’s rented out most of the time, but when you are there, you can work on it and have fun at the beach. Beach area properties range in price, but good bargains and fixer-uppers are still to be found. Beach front and bay front properties are most desirable and will bring in the highest rents. You can expect to pay less for a home or condo a little farther from the water, but it will also bring in lower rents. In general, you need to decide what your goals are and what you can afford. Be sure to talk with your tax professional about the rules regarding second homes and vacation rentals. All this and more from missionbeachmagazine.com
