Help Pay the Mortgage by Renting your Smith Mountain Lake Home

Does your idea of the perfect vacation spot include water sports, fishing, golf, and plenty to do in the area?  Do you enjoy escaping for long weekends to a serene place where you can enjoy your favorite pastimes amidst friendly local residents?  Long term, do you see yourself retiring to a place like this?

If your answer is “yes” to these questions, you are a good candidate for buying a vacation home.  Yet, you wonder if this is cost effective.  Because the area is in great demand, Smith Mountain Lake is a great location for you and your family – and a great source of income when you aren’t using it.  What you earn in rental fees will offset the cost of your mortgage or provide you with extra income each month.

Smith Mountain Lake is a vacationer's dream.  People flock here every year to enjoy the crystal lake, varied wildlife, and welcoming community.  It is good place to stay when you want to explore local attractions.  Owning a home here allows you a great opportunity to help out the vacationers and help out yourself.  As we mentioned in our previous blog Smith Mountain  Lake: A Place So Pretty You Might Want to Stay, the area is desirable all year round, even though "in-season" rentals are the most lucrative.

Why let your home sit empty when you can make money renting it to people who will jump at the chance to stay in your home?  The homes in Smith Mountain Lake are, no doubt, beautiful and highly coveted, especially the lakefront homes or those homes tucked away along the tree lines that really draw attention. 

Even if you do not currently own a home in Smith Mountain Lake, but are considering buying one then keep rental possibilities in mind.  You buy a second home and it sits empty half of the year.  That seems like a waste of money, but when you take the opportunity to rent into mind, you can see how you can turn your second home into a money maker.

If you want to buying a home in Smith Mountain Lake, talk with Vicki Millehan now about the rental potential of your home.  Vicki can help you to buy a home and rent your home out.  Contact her today!