Thinking about buying a vacation home?
Below are the main questions you should ask:
Why buy a vacation home?
How much can I afford?
What type of home is best for me?
Where should I buy?
Who to buy from?
Some of these questions might seem pretty basic but placing a lot of thought into them will help you buy the perfect place that you can enjoy.
Click the link below to download our FREE resource that goes into depth and helps you find the perfect vacation home. "So, You are thinking about buying a Vacation Rental Property" This report will ask you direct questions that will guide you to buying the best place for your intended purpose, your resources, and helps you choose the perfect location.
No obligation, just some useful information that we have learned over the years that we want to pass on to you.
To help you evaluate your future Vacation Rental Property, we have developed a Vacation Rental Calculator.
You can enter a variety of data, add custom data, let it calculate your mortgage payment, your expenses and ultimately your profit and return on investment. A handy tool that you can fill out for every home you consider for later comparison. This excel spreadsheet is well thought out and even has a place to set aside a little reserve fund to plan for future repairs.
After you made the decision to buy a Vacation Rental Home and become an Owner, go to the next section for some great resources, such as
Whenever I spoke to potential vacation home buyers I was amazed at how many details they leave out when trying to analyze the possible return on their rental home investment. From calculating the mortgage payment to factoring in the utility costs that are based on occupancy, adding up seasonal deep cleaning costs to many other costs.
You can use this simple, complete and customizable calculator to take notes and enter figures for every home you are considering. The header will have a section for the address of the home and brief description. The body has all the fields that you need to fill in. The results section will show the expenses, the income, the profit and return on investment. Do this for every property and it will help you keep track of all the homes you are looking at, so you can pick out the best investment home.
We have studied numerous rental agreements and are always amazed at how little they mention about all the charges you can and will incur. This resource will give you over 80 questions to ask a management company. You will get to know how they operate, what they charge for their services before you give your vacation home into their hands for managing your investment. The revenue split is not the ‘tell-all’. Ask all the right questions to find out about the hidden charges that are passed on to the owner and make your rental income dwindle down. Find out all the facts prior to signing a rental agreement that might bind you to that management company for a year. Understand how they operate, how big they are, how they keep your home clean and well maintained. This resource is also an excellent way to learn what it takes to manage a vacation rental property. This resource will complete your full evaluation package on buying a vacation home.
Over 80 invaluable Question to ask your Management Company. Use them to compare your choices. This report is explained in greater detail in the 'For Owners' section.
Have fun exploring our website full of resources.