In general, a purchaser will market and rent the home to vacationers during the high season and use the home for oneself during weeks of lesser traffic.
There are some main priorities that will do more to ensure success when prospecting a home as an income producing beach property.
You will be offering amenities, as will your competition. So your goal must be to find an affordable house with the greatest number of amenities available, then to market it well. But first you need to know which amenities to seek in a beach home.
The following 5 tips should help serve as a guide.
1. Proximity to the beach and beach views.
How long will it take your guests to reach the beach from your home? This will be the first question asked by a potential renter. So in purchasing, you must consider the closest beach access and how readily available it is.
Also, does the home have unobstructed views of the beach and ocean? Beach and ocean views are like gold. If you have them, and you can market the home with photographs to prove it, you will surely see it translate into added rental income, or at least find it easier to market your home.
2. Size of a home and how many people it sleeps.
The more places that people can sleep the more people there will be to split a larger rental bill for a week’s vacation. In general, a home with more living, sleeping and bathing space will do better than one with less space, but the space should also be comfortable and well planned.
Also, consider bedding. Kings, when they fit, are more appealing than queens. And a room of multiple bunks may be useful to sleep the children and maximize on space.
3. Does your prospective home have a private or community pool?
It is important for your beach home to have a pool. Everyone has that one relative they know who will not spend any time at the beach, but who still wants to soak in the sun. Also, if beach conditions are dangerous—say jellyfish come in for a day, or the tide is too high—it is important to be able to entertain at the pool.
A private pool is the best, but an easily accessed community pool also works. A heated pool can be advantageous during cooler months.
4. Condition of a home and how it appears when photographed.
It is the same principle as with homes for sale. There is much competition, and how your home ranks in appearance on the internet translates into how many potential purchasers you will attract. In coastal rental markets, there are numerous vacation homes. Yours must meet the requirement in both décor and in representation through photography on the web.
5. Location in regards to family activities, attractions and restaurants.
In our area, there are numerous popular communities up and down an 18 mile strip of beach. The most popular is Seaside, which has existed for almost thirty years. When most people travel to the area, they want to be close to Seaside. They will ask how far our rentals are from the community.
Consider what attractions are in your area and know that the closer you are to the highest rated areas, the more renters you will attract.