After reading the MSN article on affordable second homes for the affluent, I realized there are two different sets of second homeowners. The first group of second home owners buy homes in the high-end communities such as the Cliffs, Biltmore Forest or Grove Park Historic neighborhoods. This population of second homeowners do not consider using their home as a business, opening their doors to vacation rental guests. These are the second homeowners where we solely take care of their homes while they are away.
The second group of second homeowners in Asheville, NC reflect a more humble abode, using it as an income producing entity. Asheville's real estate market still has tremendous opportunity for vacation rental investments under $300,000. For those buyers who are in the position to purchase a home, this is the time. There are so many homeowners who are now realizing, second home investments are not a cash cow and trying to keep up with the expenses are just too much trouble. Now the market is saturated with amazing vacation rental potentials. For those who are considering such an investment, now is the time.