According to this MSN.com article, it could indeed be possible for a vacation home to pay for itself in the long-run.
Investor Christine Hrib Karpinski offers these three basic rules for purchasing and managing a vacation home:
- Vacation homes need to be rented 15 to 17 weeks a year in most areas to break even.
- Internet advertising is essential. Karpinski recommends advertising your home on 3-5 web sites to ensure the maximum amount of exposure.
- Consider cutting out the middle-man and being your own rental agent.
Karpinski also suggests asking yourself these four questions before jumping into vacation home ownership:
· Are you ready to do the research to find the right home in the right area for you?
· Are you willing to give up the use of your property during peak season?
· Are you willing to put in the necessary work, including advertising and maintenance duties?
· Can you hold on if things get tough?
If you are ready to begin your search for a Ludlow VT vacation home, please call me at 802-353-1983 or visit ISellVermontRealEstate.com. Or, click here to sign up to receive automated emails of new listings that match your criteria.