If you’re in the position to buy a vacation home, lucky you. That is something that many people dream of happening one day, but never actually attain. Even to own one home is great, but owning two or more is on another level. So give yourself a pat on the back, not only because you’re financially stable enough to have one home, but two!
There’s a good chance you already have an image of your ideal vacation home in your head. Maybe you’ve always dreamed of owning a second home along the water’s edge in a tropical location. Perhaps a downtown condo in a vibrant and eclectic city is more your speed. For some, the only imaginable option is to own a vacation home nestled among the peace and quiet of the nearest mountain range.
There are tons of mountain homes in all 50 states that can not only serve you but also act as an investment rental property. You never know, owning a second home could turn into a solid income… and this is truer than ever when it comes to owning a home surrounded by stunning mountain peaks.
Mountain Homes Are Taking Off in the Vacation Rental Property Industry
Many people purchase a second home with the intention to rent it out to guests when not in use. Even if you don’t love the idea of other people using your cherished mountain cabin, renting it out is an amazing idea. This might actually help the home to pay for itself, and maybe you’ll end the year with more money than you expected in your bank account.
The vacation rental home industry has seen a major boom within the past few years. Part of the reason for this is that guests no longer want to stay in a generic resort or hotel. It is now much more ideal to rent out someone’s home because this is the best way to make the most of any vacation.
A lot of second homeowners are surprised to discover that vacationing to the mountains is just as popular as vacations to the beach. Travelers are in need of more vacation rental options when it comes to mountain getaways and the market for mountain rental homes is not nearly as competitive as beachside properties.
It’s the Perfect Retirement Home
MoneyCrashers says that “a common goal of retirement is to have a place of retreat for the times of the year we dislike the most at our main residence. Locating and buying a second home prior to retirement enables you to experience the benefits of a refuge before actual retirement, a time to correct and amend your plans if the reality is different than the dream.”
Even if retirement seems like it’s way in the future, it’s still important to plan ahead. More specifically, it’s important to think about where you’ll settle down. And there is nowhere quite like the mountains to set some roots during the next phase of your life.