04/10/2021
A vacation rental is not just an investment, it can also be an escape.
Some folks enter the vacation rental market purely for profit, others to diversify investments, and some are trying to leverage rental income to make the dream of owning a second home a reality.
If you’re thinking about purchasing a vacation rental, here is a key thing to consider. "How much house can I afford?"
If you can purchase the property for cash, that’s great! If you plan to use financing, it’s important to keep a realistic budget. Many vacation rentals are seasonal and even peak seasons can be disrupted.
To help pinpoint what you can afford, create an annual budget with some cushion. This way you’ll be able to pay the basic expenses out of pocket even if you have a few bad months.
Want more tips from a local vacation rental expert?
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