Most Russians own a “dacha,” a small cabin on the outskirts of the city where they travel to relax, take saunas, and grow vegetable gardens. Call it the “dacha” mentality here in America: many homeowners are buying vacation homes in stunning locations with great views and a lot of local history, both for rental income and for a guaranteed vacation destination.
Investing in rental property in a historical, beautiful location is an attractive option for homeowners looking to upgrade their lifestyles.
The definition of what makes the best real estate purchase differs among homeowners: some want beach property, some want a mountain view, and others would like to see wild horses when they look out their kitchen window.
When investing in rental property, about one in 12 homeowners reported that they wanted to relocate to a safer, more beautiful area of the country. Some homeowners find that, having bought an attractive rental, they want to live in their vacation paradise year-round.
But how to choose a location? Finding a good real estate agent who is knowledgeable about vacation rental homes is a great first step. The overwhelming majority of potential homeowners said that they would trust the information that they got from a real estate agent; as a matter of fact, almost nine out of 10 people who were looking to buy a home utilized the services of a trusted real estate agent last year.
When investing in rental property, a vacation home can provide solid income year-round. Taking two weeks a year with the family on the beach, or in the mountains, makes for a wonderful vacation. Renting out the property the other 50 weeks of the year makes many homeowners much more likely to see a profit from investing in luxury homes in exciting locales.
Whether the dream of vacation homeownership involves the forest, the desert, or the beach, the expense involved in purchasing vacation real estate for relocation or rental purposes is an exciting one for many American homeowners who would like a retreat.