6 Reasons to Purchase A Vacation Rental In San Diego
Lately, you've been thinking a lot about investing strategies. You have a small nest egg that needs to grow, but frankly you don't trust the stock market. (If you're like many investors, your 401(k) hasn't fared well in recent years.) And while real estate has been somewhat of a rocky road in recent years, it's still a solid long-term investment strategy—and clearly we're in a buyer's market. But you aren't really interested in being a landlord. What to do?
Christine Karpinski has a suggestion: Purchase a vacation home in San Diego and rent it out to tourists.
"Vacation homes are almost always a good investment," says Karpinski, director of Owner Community for HomeAway—te the world's leading vacation rental marketplace—and author of How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment
"First, if you're looking for a good long-term investment, real estate tends to be a good bet," she adds. "Second, vacation properties have the ability to pay for themselves, and owners often earn a profit in rental income. Third, the investment comes with the desirable perk of having a place at the beach or in the mountains to call your own. And finally, there has never been a better time to buy a vacation home—it's like the planets have all lined up perfectly."
Karpinski, who owns vacation homes in several parts of the country, says she herself is looking for new properties to invest in. Overall, she says, the vacation home rental market is a burgeoning segment of the economy.
Want to know more? Read on for a few reasons why there's never been a better time to go vacation rental house hunting in San Diego:
There have never been so many properties on the market. For potential home buyers, there is a silver lining to the slow economy and the housing crisis: Most vacation markets are chock-full of buying opportunities. Once...