A Shift in Mindset for Vacation Investment Properties

By
Real Estate Agent with Sun Realty NC
https://activerain.com/droplet/4CzG

Vacation Real Estate Investment

 

The vacation rental market is currently in a period of massive growth. A recent  poll by HomeAway Inc. indicates that nearly eight in 10 buyers factor potential rental income into their decision to such property.  More vacation homes are being purchased; more owners are planning on renting; and more tourists are finding that this new mode of accommodation fits their needs better than a hotel or resort.  This surge in supply and demand is demonstrated by the trends in acquisition by the major vacation rental listing sites — HomeAway, VRBO and Airbnb — while online travel agencies such as Expedia and Booking.com are climbing on the bandwagon and listing vacation homes alongside hotels. While all that has been happening, strength in this market continues to surge: 

  • The 2014 National Association of Realtors’ “Investment and Vacation Home Buyers Survey” revealed that 717,000 vacation homes were purchased in 2013. Although we have not yet reached pre-2008 levels, the upward trend shows the potential in this market.

  • Further research commissioned by HomeAway Inc. showed that 89 percent of those owners planned to rent the property within the following 12 months, with 86 percent of them expecting to rent to the short-term market (vacationers, business travelers, and so on).

  • According to HomeAway, nearly 8 in 10 buyers said that the potential of rental income influenced their decision to buy.

  • Once people have bought a property, 52 percent of them were somewhat likely or likely to buy another home in the next two years.

  • 14 percent of the HomeAway survey responders were preretirement buyers (those buying with the intention to retire full time to the property in later years) — and they are getting younger; the average age of new vacation-home buyers is 47 years.

I am the go-to expert in knowing what OBX vacation renters want and in helping to guide Buyers in the right direction to a home that appeals to the target vacation market. If you are in a position to buy a home, then make sure that you meet with me.  You have many decisions to make and it can be a very daunting task! You don't want average realtor -- You want an EXPERT -- a top producer that can help you reach that "pot of gold" by purchasing the right vacation rental investment property in the Outer Banks! Not to worry however, just another reason to have a REALTOR® on your side, and yes, I'm shamelessly flaunting my services!  My customer-focused approach has worked to help my clients throughout the Outer Banks area avoid the pitfalls that are costly. Furthermore, I "walk the walk" with my own diverse real estate portfolio that has included new construction, acreage, rental properties, and resort and second home vacation investments.

 

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I strive to be your one-stop-shop for all that is happening in world of real estate and in our very own little oasis of the Outer Banks of North Carolina. I invite you to become a fan of our Facebook page (https://goo.gl/9HGocw ), post your comments, ask questions...start a conversation!

If you are considering buying or selling in the Outer Banks, please contact me today at 252-489-8491. Should you have any questions or would like to discuss your unique situation regarding real estate in the Outer Banks of North Carolina, then please call or email me today.

 

Got questions?
Ask! 
hughwilley@sunrealtync.com or 252-489-8491
Hugh "Scooter" Willey
www.nagsheadhomes.com 
www.hughwilley.obxwhere.com
www.outerbankshomes4sale.com 

 

If you enjoy my blog posts, then let's Network more, here is my LinkedIn Profile

 

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Rainmaker
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Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Evening Hugh

Thanks for the post. Have a great week

Feb 24, 2015 08:23 AM #1
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Rainmaker
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Hugh Willey

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