Can you really pay for a Naples vacation home by renting it out?
The idea of buying a vacation home in Naples Florida, may seem out of reach to some people. But, for some seasonal visitors to Naples, who find themselves coming back year after year, buying a vacation home might be a good investment. Naples Florida Vacation Homes works with property owners to to make owning and renting their vacation home easy!
While it’s true that vacation houses are often very expensive because of their desirability, you don’t always have to pay top dollar. There are ways to purchase a good vacation home without spending a ridiculous amount of money.
Below are a five things to consider while you are considering purchasing an investment property in Florida.
#1: Work with an agent who knows the area
The best advice we can give people considering purchasing a vacation home is to work with a professional. Working with a local Naples realtor, like us, who specializes in vacation rentals, allows you to glean important local information about Naples. This information will be useful in your search for a vacation home and can save you thousands of dollars.
#2: Make sure the location is good
It doesn’t matter how good of a deal the property is, if its too far away. Remember when you are purchasing a vacation rental you are not just buying it for yourself. You are buying it on behalf of future renters. Make sure your vacation property is centrally located to attractions and destinations people want to see and do.
#3: When do you want to use it?
Because you might want to use the vacation home yourself, you need to figure out how many weeks per year you will use it and how much rent that will take from the amount you need to cover your mortgage and other expenses.
#4: Figure out your costs
Just like your primary residence, you have to understand the total price of ownership including property taxes, insurance, and any other carrying costs. Remember, even when you’re not there, you’re still being charged for water, gas, electrical, trash removal, landscaping, and other maintenance services.
#5: View the home as a form of recreation, not an investment
If you buy a vacation property, make sure, above all, that the house, and Naples, is an area you enjoy. It will be worth the cost if you spend as much time there as possible, put your heart and soul into caring for it or plan to keep the home in the family for future generations. You can’t put a price on that.
If you’re planning on maximizing your home’s rental income, schedule a consultation with us! We can help you navigate the waters of finding, researching, buying, and renting your new vacation home. We manage homes in some of the nicest neighborhoods in Naples.
About Naples Florida Vacation Homes
Are you frustrated trying to find a rental for season? Look no more, and secure your stay with Naples Florida Vacation Homes!