Are you looking to buy a 2nd home in our Naples or Bonita Springs FL? Or are you looking for a Vacation Rental investment opportunity?
Your success in finding the right property will depend on how much thought you’ve given the question. But most buyers confuse the issue and end up chosing the wrong property.
Some basics to keep in mind for both scenarios:
2nd Home Purchase
If you are planning to occupy the home for at least 3 months in a row, then a 2nd home purchase is right for you. In that case, you should choose the home that fits your personal needs and personal taste. The rental income will be much less, but will cover some of your carrying costs.
Vacation Rental Investment
If you are planning to occupy the home a total of 2 months or less per year, then the best advice that we can offer, is to seriously look and consider a vacation rental investment, that you get to use and enjoy when not rented. In that case you really need to listen to your local professional in regards to the choices that need to be made to make sure you pick the right home:
- Location: Is the #1 criteria – to bring the highest rental income the property will need to be located close to any of our beaches – within a short walk or bike ride.
- Pool: Is Criteria #2 – even if the property is within a couple of blocks to the beach – the majority of tenants will either not book a home without a pool or want large discounts applied to rates.
- Pet Friendly: the best vacation rentals are pet friendly. Considering that most condominums in the area do not allow pets for tenants, a single family home is preferred for that reason. You will need to overcome the mythe that a single family home requires extra money in maintenance. A single family home does not cost more in maintenance over monthly condo fees.
- Furnishings & Decor: it is were many owners make the mistakes – costly mistakes, when you consider having to replace furniture to bring your property up to par. Furnishing a vacation rental is an art, that can make or break a vacation rental – it is not about what you like, it is what the tenants would like to see. Positive tenant reviews are mostly about furnishings, decor, quality of linens, # of TVs, cruiser bikes, and the general feel of a home – the winners being coastal designs, keywest styles and light tropical decor. Brown & dark colors are not welcomed.
- HOA association Policies: attention to the homeowners association’s rental policy is extreemly important. Gated communities and some condominiums limit the # of leases allowed per year. This makes a big difference on the rental income expectations. Another limitation by HOA policies is the minimum # of days for any lease. While you might think that 30 or 60 days minimum is ok for winter tenants, you will lose on all summer reservations that usually request a week or two.
- Great Vacation Rental Communities: Olde Naples, Moorings & Park Shore (single family – condos), Vanderbilt Beach (condos), Connors (canalfront single family), Naples Park (single family), Bonita Beach (condos & beach cottages).
Either way, we will help you find that perfect home in our beautiful Naples & Bonita Springs, FL.
Seriously thinking of buying a 2nd home or vacation rental investment in Naples, FL? Call Ellie at 239-776-5077 or Tim at 239-272-4848 today to schedule an appointment in person or over the phone. We can discuss your needs and desires so that we can get to work on your behalf. With our local knowledge, experience and connections in the area, we promise we will find you that perfect home.
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Looking for a Pet Friendly Condominium in Naples? Call us 239-272-4848 for accurate and reliable information. We know the pet friendly neighborhoods.
Looking for Property Management Services for your Naples property? We have an excellent reputation and great tenant relations. Call Ellie @ 239-776-5077 for marketing details and the range of services we offer.
Naples FL Communities
Aqualane Shores (Boating) – Olde Naples (Beach Cottages & Luxury Estates) – Coquina Sands (Beach & Bay) – The Moorings (Beach & Bay) – Park Shore (Beach & Bay) – Seagate – Pelican Bay (Beach & Golf) – Pelican Marsh – Vanderbilt Beach (Beach Front) – Connors (Boating) – Naples Park (Walk to Beach) – Monterey – Autumn Woods – The Dunes (Resort Style) – Pelican Isle Yacht Club Condominiums (Boating) – Tarpon Cove – Audubon Country Club (Golf) – Banyan Woods – Vineyards –
Bonita Springs FL Communities
Buyers – Sellers – Property Management