Are you looking for a new way to earn income? Are you at the point in your life where your job is going well and you have a little bit of extra time and some extra cash for investment? If you have the time and financial resources, purchasing rental homes can be a great investment. Whether you are buying a vacation home on the outer banks of North Carolina, or purchasing a downtown condo, investing in rental homes can provide you with a fun vacation opportunity and income at the same time.
In many hot vacation spots, profit from investing in luxury homes is immediate. As the owner of the property you can block out some weekends for your family to use the property and offer the property as a rental on the times when you will not be there. Consider the location of Nags Head, North Carolina as an example. Since the 1800s, this beautiful location has mostly consisted of single family cottages and just a few small hotels. Visitors to this area enjoy historic cottages, located across from the town’s most well known landmark, Jockey’s Ridge State Park. The tallest natural sand dune system in the eastern U.S., this park offers unbelievable viewing of Nags Head. Instead of paying high rental prices when your family visits this quaint and peaceful spot, why not make your own purchase of a luxury or more simple home? If you are lucky you might even be able to invest in undeveloped area that will soon be accessible to more tourists. Instead of paying high rent for your vacation times, you can stay in your own property for free and then work with a local agent to rent the property during the times you are away.
Forbes Magazine indicates that an estimated 1.5 million new housing units will be needed each year to accommodate continued population growth. It makes sense that this new population will also want access to vacation rentals and other vacation options. Wise investors who enter the rental homes market can provide their own families with wonderful places to vacation themselves, as well as recuperate investment dollars by renting the property to other vacationing families. Where ever you are considering purchasing, local real estate agents can provide you with information about investing in rental property. In fact, 98% of buyers say they rely on real estate agent advice even if they are purchasing in an area that the buyer knows well.
What are you waiting for? Why not follow the wise investment trend of owning property? Why shouldn’t you be a part of the buyers who purchase the 115 million occupied housing units in America?
