ORANGE BEACH, Ala.,
Aug. 21, 2018 /PRNewswire-PRWeb/
-- According to Mashvisor, a real estate investment website
that seeks to empower investors to find investment properties,
Orange Beach, Alabama, is one of
the top twenty best places to buy a vacation home in the U.S. One
of the reasons is the return on investment, which is close to 5%,
when the vacation home is also used as an Airbnb rental. The median
property price in Orange Beach,
AL, is $469,000.00. Airbnb
rental income is $3,190.00, a return
of 4.7%, whereas traditional rental income is $2,250.00, a return of only 1.8%.
While owning a vacation home can make logical and financial
sense, it's not a decision to be entered into lightly. Whether
you're looking for leisure, investment or both, here are three
important things to consider before buying a vacation home:
1. Know the Area: Real estate experts like Fred Newman suggest spending time in the area
first. "Unlike hotels and timeshares, a vacation home does not give
you the option to change destinations if you tire of the scenery,
so be sure you can't get enough of that place before you commit to
buying there," noted Newman.
2. Know the Overhead: "Even if you have no intention of renting
your vacation home, know your overhead, such as water, gas,
electrical, trash removal, landscaping and maintenance, because
nothing ruins an ideal vacation home like being in over your head
financially," said Newman.
3. Know the Rental Potential: "Managed correctly, a smart
vacation home purchase incorporates rental potential into the
equation," Newman said. "Allowing renters to use the vacation home
while you're away can offset your costs. If you plan to use the
vacation property infrequently, find a local property manager, who
will maintain your home. I can assist you by directing you to
one."
If owning a vacation home is part of your overall investment
strategy, Fred Newman can help you
calculate your return on your investment. If you plan to rent your
vacation home, having a rental business plan is too important not
to have an expert on your side.
About Fred Newman, Keller
Williams
Fred Newman assists homeowners and
condo owners throughout Baldwin
County, including Gulf
Shores, Orange Beach,
Fort Morgan, Foley, Summerdale, Robertsdale, Fairhope, Loxley, Daphne, and Spanish
Fort Alabama. He works with both buyers and sellers. For
more information, please call (251) 979-5600, or visit
http://www.baldwinhomefinders.com.
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SOURCE Fred Newman, Keller
Williams