You’re looking to add to your investment properties. There are a lot of beach homes for sale in Santa Barbara, and it could lead to an idea. What about buying one of them to rent out as vacation properties?
This initially sounds like a great idea. You’ve seen what the beach rentals are like in the area in the summer. However, you need to think about the offseason. Here are some considerations to make before you buy that house to use as a rental.
Will People Rent in the Winter Months?
One of the downsides of the beach rentals is there is an offseason. The beach homes for sale in Santa Barbara make popular rentals in the summer months. People will book for a week to be able to go on their summer vacations with their families. Then in the winter, everything is quiet. Nobody really wants to go to the beach when it’s snowing.
Of course, California can be a good option in the winter. It doesn’t snow all the time, but it is somewhat cooler than other parts of the United States. It’s not as popular for snowbirds as somewhere like Florida. You’ll need to look into what the offseason is like to make sure it’s going to work for your needs.
You can factor this in when it comes to the rental prices in the summer. Put them up to make the most of the months when there is the demand so that you can still pay the mortgage in the winter months.
Can You Afford the Upkeep?
You may not get the vacationers that you want when you get the beach homes for sale in Santa Barbara. This is especially the case in the first year. So, you’ll need to look into whether you can afford the upkeep. If you’re relying on people moving in immediately, you’ll want to look at other investment properties in the area.
Then there’s the upkeep in between guests. You’ll need to get the place professionally cleaned more regularly, and this isn’t on the vacationers to pay for. This is up to you. Then you may need to replace cutlery or dishes if things are broken or taken. You’ll need to think of the damage vacationers can do accidentally. Can you afford this regular upkeep on a vacation home?
What’s the Security Like in the Offseason?
When vacationers aren’t around, there is a higher chance that homes will be broken into. This is important to consider when it comes to beach homes for sale in Santa Barbara that you want to rent out. The locals will figure out which houses are used year-round and which ones are left empty.
It’s important to have someone check on the property regularly. This could be you, a friend, or a company that you hire. It’s an extra expense, though. Is it for you?
Getting a beach rental sounds like a great investment idea. You can make a lot of money in the summer. The question is whether those beach homes for sale in Santa Barbara are great for renting in the quieter winter months.