A vacation home can be a wonderful investment in your family's quality of life, a place where you and your children can make lasting memories. With careful planning and a good property manager, buying a vacation property also makes sense financially, providing regular income as it appreciates over time. However, buying a vacation home isn't something you should jump into, and the experts at Sugar Sands Realty & Management in Orange Beach, AL, recommend a few key factors to keep in mind.
When Buying A Vacation Home, Consider These 3 Things
Even if you're going to rent out the property most of the time, you should think of a vacation home as a long-term investment. To defray the costs of the mortgage, repairs, and maintenance, find a house or condo in a desirable location so it can rent for a good price and be occupied often enough to bring in sufficient income. A vacation property manager will guide you toward homes that will generate revenue.
A condo can be a fantastic vacation property because the association will handle the landscaping and maintenance while you’re away. It also offers amenities that could make your property more attractive to prospective renters, increasing occupancy and lowering the cost of ownership. However, make sure the condo association rules allow you to rent it as a vacation home, or you might end up with a property you can't afford.
Cleaning & Maintenance
If you don't live near the property, think about who will ensure it’s clean and ready for guests. Finding the right vacation property management company can be the difference between a successful investment and a purchase you regret.
The team at Sugar Sands Realty & Management manages vacation homes all along Alabama's gulf coast, from studio condos rentals to single-family houses. Call (251) 974-1672 to speak with a real estate professional about making a purchase, and visit their website to learn more information about property sales.