Buying a vacation home for rental can be a great investment, especially if you have a stock heavy portfolio. According to MSN, baby boomers hold 57% of all vacation homes and about 21% have two or more vacation properties.
Big Bear Lake is a great place to consider investing in vacation rental property. It’s southern California adjacent, with a small town feeling. An alpine forest surrounds the valley and the summer abounds with outdoor fun. Our well stocked lake will keep any fisherman happy. Activities range from Ziplining and off-road driving, to hiking and camping. In the winter, Big Bear is filled with snowboarders and skiers in the winter and is home to Snow Summit and Bear Mountain.
As a popular destination, there is plenty of demand for vacation rentals. Vacation real estate properties in the valley include houses, lakefront cabins, condos, townhouses and horse properties…
Before viewing properties, you may want to get a pre-approved mortgage. If you need a better cash flow, consider refinancing your primary home at a lower rate. Be prepared for the additional bills; tax, power, phone and repairs.
Once you have shopped around and settled on a home, find out if the property has been rented in the past. You can ask for a rental history or ask the owner’s experience. Look at other rental properties in the neighborhood and compare. Game rooms and jacuzzi hot tubs are popular amenities in the valley. Make sure your home is competitive.
We invite you to call us at The Tim Wood Group. We’re local and can help you find your dream home here in the mountains!
More About Vacation Home Real Estate Investments;
- Investment and vacation homes sales surged in 2011 – Sales of investment and vacation homes* jumped in 2011, with the combined market share rising to the highest level since 2005, according to the National Association of Realtors®. NAR’s 2012 Investment and Vacation Home …
- NY Vacation Homes | Westchester | Rental Market – Like the Hamptons, summer retreat towns in northern Westchester are seeing their rental markets gain strength for the first time since the downturn.
- Tax Benefits for Second Homes and Vacation Homes – If you own a second home, then you want to be aware of some tax advantages that could save you money.