Summer is just around the corner: imagine being able to just take off to your favorite hideaway in the mountains or perhaps that beachfront condo you always dreamed of, without having to pay exorbitant hotel fees if you can even find a room during the peak season. Vacation homes aren't just a fantastic investment if you have a favorite vacation spot, they're also a viable option for both experienced and novice real estate investors. If you're buying your very first rental property, a summer home can also be a much easier property to start with than a single-family home meant for year-round permanent residence.
Here's three major perks to buying a summer
home as an investment property.
Vacation homes have several other benefits like tax write-offs, and not having to spend large sums of money on hotels particularly if accommodating your entire family and requiring a large suite. There's also the practical benefits that come with these properties such as being able to store all of your beach or skiing gear there and anything else you'd like to leave in your home away from home, without having to pack up your entire dresser to account for weather changes which takes away a lot of stress in preparing for vacation time. Other rental properties don't have these benefits, so you'll definitely want to consider a summer home to diversify your risk.