Make Your Vacation Home Work for You

Living Room in Vacation Home

A vacation home may be more affordable than you think. It can be daunting to dive headfirst into the world of real estate investing, but buying a vacation home has changed rapidly in the last few years. It is probably the easiest way to enter the real estate investor business. Below is a list of some of the benefits you should consider when thinking about an investment in the Sunday River area.

 

  1. Your Sunday River home is not only a real estate investment; it is a lifestyle investment too. Most investment properties are rented out long-term and will not give you this advantage. A Sunday River property—both a second home and an investment—is almost too good to be true!
  2. You can generate income on a steady basis by renting out your home to guests when you are not using it. The money you make can help pay the mortgage and other expenses, such as property taxes, insurance, maintenance and repairs.
  3. Your home’s long-term appreciation is another way you will make money: your vacation home will increase in value over time and you will be able to cash in on the profit. If you choose to make modifications and improvements you can make even more money.
  4. You can benefit from the tax deductions a second home provides. We recommend that you work with your accountant to make sure you take advantage of tax deductions and properly report income.
  5. You will be taking less risk by purchasing a vacation home than you would with other types of real estate. The Sunday River area is a top tourist destination, resulting in high occupancy rates and high rental rates.
  6. Vacation home rentals are easy to manage in the Sunday River area. We will work with you to find the right vacation rental management service that is a perfect fit.
  7. Once you have decided that a vacation home is right for you, contact Sunday River Real Estate. Our experienced team will take you through the seamless process.

Stop by our office in the South Ridge Base Lodge to find out why so many people are buying a vacation home as a real estate investment.

 

About the Author

As a licensed broker for 35 years with a lifetime of memories carved into the foothills of western Maine, I know what it means to call this area home. Originally from Lewiston, Maine, I have visited Sunday River since I was a child. Finally settling here in 1982 to raise my family, I have remained very active in this wonderful community. From owning and renovating the Sudbury Inn, to my chair position on the Bethel Planning Board, I understand that getting the best results means going the extra mile. The ski industry and Sunday River Ski Resort move at a fast pace. Working with Sunday River Real Estate affords our clients the most up to date information about the resort. For expert knowledge of resort changes and real estate developments, please join our newsletter. I look forward to working with you.

Sunday River Real Estate 15 South Ridge Road, PO Box 4500 Newry, ME, 04261 P: 207-824-5051 F: 207-824-5053 [email protected]