Interested in Purchasing a Vacation Rental Home?

Purchasing a second home is a large and important investment, no matter how you plan to use it! Many homeowners utilize their home as a vacation rental property to help offset some of the expenses of home ownership.

Location

Choosing the right location is one of the first and most important decisions to make when purchasing a home. Homes located in the northern lake area – McHenry, Deep Creek Drive, Marsh Hill Rd – tend to rent more frequently, as they offer year-round proximity to the ski slopes and lake amenities. Central lake area homes – Glendale Rd, Rock Lodge, Rt. 219, Mountainside – will still rent fairly well, but are just a bit farther from Wisp Resort. The southern lake area will normally receive less frequent winter visitors, but offers less busy lake areas and the peace and quiet you want on a mountain vacation.

Property Amenities

The success of your rental home is highly dependent on the amenities your home offers. Amenities can include everything from the yard to an indoor pool to game tables. Many guests are traveling as a group, whether that’s an extended family trip or groups of friends. Some amenities, like hot tubs and game tables, are able to be added to the home at any time. Other amenities, like an indoor pool or screened-in porch, would take renovations to complete. Then there are the amenities you can’t purchase! This includes lot size and slope, lake-frontage, water access, and privacy. All of these amenities help provide your guests with everything they need for a great vacation.

Home Layout & Features

As most guests are traveling in groups, the layout of the home is important for providing a relaxing and enjoyable space. Ensuites are a great option as many larger groups are separate families and prefer a private bathroom. Open main level layouts and spacious great rooms/entertaining areas are best for providing a great common area for gathering. It’s always best to find a home that offers the best layout for your needs – keeping special consideration in mind if you’re planning to rent!

Getting Started

Ready to learn more? The dedicated and experienced agents at Railey Realty, alongside the knowledgeable team at Railey Vacations, are here to help! Your agent can help you find the perfect property to purchase using previous rental history, a rental projection, and in-depth market knowledge. Once you’re under contract and have purchased, the team at Railey Vacations will take action. This includes, marketing and photos of your property, obtaining rentals for your property, providing maintenance service, keyless entry, IT support, linens, inspections and so much more.