Buying Homes That Make Great Vacation Rentals

Belts are tightening and pockets are closing, and during times of economic distress, it is a good idea to spend less and be responsible. But another element of financial success is being thrifty, and especially in the real estate market, finding and pursuing a good deal can be a smart move for many potential homebuyers. One market in particular that is incredibly attractive are vacation homes – with prices dropping, there may be no better time to buy a vacation rental than right now.

Why should an investor choose a vacation home more than any other type of property? The obvious reason is the price. In the resort area of Arnold, CA for example – a favorite of Bay Area residents from San Francisco to Sacramento – median home prices have dropped as low as $270,000 at the end of 2008, a sharp decline from the $450,000 it was in 2006. It’s a buyer’s market indeed, and as real estate is still considered to be a sound long-term investment, this may be a once in a lifetime opportunity to do something for your future.

The other crucial element that makes buying a vacation rental more attractive is the potential to turn a profit. Arnold, CA is a popular year round destination that offers four seasons of wonderful outdoors recreation, from hiking and biking, swimming, golfing, and even skiing. According to local real estate companies like Cedar Creek Realty, the rental market there is booming, and buying a property to rent out to vacationers can be incredibly lucrative, as well as a good way to use the property while you’re not there yourself.

Before you rush to invest in a vacation rental, make sure to do your research, and partner with a real estate professional. For more information about Arnold vacation rentals, inquire with vacation rental specialists like your local realtor.