As long as there are realtors, there will be persuasion to invest in properties. From primary to vacation properties, the pressure remains on to invest now, with constant chatter of the “market on the upswing”, and prices “at an all-time low, about to go up”. When it comes to vacation property rentals, let us explain why renting is better than owning.
When you purchase a vacation home, you will likely be strapped to a mortgage that is roughly twice the cost of renting. And as it is a vacation rental, you are only there part of the year, yet stuck making those payments all year long. Renting out your vacation property part of the year is always an option, but it is not something you can rely on.
Wouldn’t it be a whole lot cheaper and stress-free to simply invest in a luxury property rental when you travel? You only pay for the time you stay, and you are off the hook for the following:
• Property maintenance work and fees
• Mortgage payments for 10-30 years
• Property taxes
• Property insurance
• Any unpredictable and expensive issues that pop up
• Worrying about the housing market
Everyone knows that when you own property there are always expenses, and you are always putting money back into it. Aside from the financial aspect, when you rent luxury properties rather than invest in them, you are free to travel all around the world-giving you a richer life experience than simply retreating back to the same old vacation spot annually. With a property rental, you are free to immerse yourself in the new experiences and cultures each year with a different luxury property rental in a different place, and you will save scads of money in the process!
Post by Imagine Lifestyles Luxury Rentals