Real estate is a great investment to make. Primarily because you’re actually putting your money into something physical, something you can feel and touch, instead of stocks or bonds. There’s a certain excitement you can get from improving and transforming a home and selling it for more money. So where are the best places to buy homes to sell on or rent? You can do it literally anywhere of course, but why do it on the end of your street if you can do it somewhere interesting and ensure a better, more often rental or higher purchase value. Besides, it is an excuse to go abroad and try out a project somewhere else. This article can give you some ideas regarding your next property investment.
Think Of The Ski Market
Thousands of people go skiing every year. Some go to America, others to Europe and beyond, but it is an increasingly popular and accessible pastime which is an almost year around event in some places because of the high snowfall. These people sometimes stay in hotels and lodges, but at others they stay in privately rented homes. Owning one of these homes and renting it out can be extremely lucrative. People tend to spend between one and three weeks skiing, so approximately every two weeks you’ll receive more rental income. You may even get people staying there who aren’t skiers but just want the scenery. If you didn’t want to worry about all the hassle of finding a place to buy in a skiing location then target a mountain home.
Again, many people each year take trips to culture capitals like Rome or Athens. You can tap into this market because lots of travellers prefer to rent out their own properties instead of staying at a hotel. The added benefit is that it isn’t seasonal, people will come all year around. There is a slight risk with gaps, as you can’t always guarantee someone wanting to stay in your property. Of course you can rent it out for longer periods of time too. For this to truly work you need to find a property that is fairly central so that the renters can access everything with ease.
Tap Into The Party Goers
Think about buying and renting a villa in one of the top party spots like such as Ibiza because the potential returns will be pretty high and consistent all summer long with new arrivals every one or two weeks. Again the property will need to be close to the central strip, preferably within a short taxi ride or walking distance. Your property will need to be fairly large too as some groups that travel to these places are huge. Remember, they can share bedrooms, so don’t worry about making it super large. The benefit of a property like this means you don’t need it to be super luxurious as they won’t be staying in the villa all the time. You’ll need a swimming pool of course which will have maintenance fees but you can decorate the villa at a fairly cheap price. Remember to get a bond from every group that stays. Not excessive, but enough to make repairs should a drunkard ruin something in the villa. With everyone getting soused each night it is a logical step to take.