Get the Most Value out of a Vacation Home

by Isaac Benmergui, Esq on August 4, 2017

Vacation Rental HouseA vacation home! It’s every family’s dream to be able to pick up and run off to paradise any weekend that you have the chance. But it’s likely that you’ll imagine using a vacation home way more than you actually are able to get out there. So how can you make sure your vacation home is also a great investment?

Know how much work you can put into it. If you have the time and resources, you can spend less and turn just about anything into your dream getaway. If you have less time, you may want to spend more upfront, or settle for something you can make small changes to over the years. Being realistic is key.

A great address is key to having a rentable property. If you plan to rent your property when you’re not home, make sure you invest in a great location. Great features and the latest trendy fixtures and colors won’t rent a property that’s in the middle of nowhere.

You don’t need water to have a great time. Although waterfront properties are very desirable, they are also the most expensive. You may be able to buy for better value and just as much vacation rental appeal by buying in town. Tourists love walkable locations and being near shopping and restaurants—perhaps even moreso than being only near the water.

Take the inspection seriously, especially for older homes. Structural integrity can get eroded over time as renovators cut into beams to lay plumbing and electric. Have your inspector look over all structural beams carefully.

Call Miami Real Estate Lawyer Isaac Benmergui at 305.397.8547 and set up a no charge, no obligation consultation to discuss your case. We have over a decade of experience handling Real Estate and Civil Litigation cases throughout Miami and South Florida, and will use our expertise to help your case to the best of our abilities.

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