If you are interested in buying a property to rent out, it is definitely a business revenue to consider to make yourself some cash. While you are probably researching the top areas to go for, you also need to know where NOT to buy a vacation rental to help avoid any bad financial decisions. These locations are not undesirable by any means but for one reason or another, they are less popular for vacation properties than other locations in America.
Although this is a nice little town, statistics alone have shown that Maine is not an overly popular location for vacation rental properties. If visiting Lubec, most people will opt to stay in a hotel for a couple of nights rather than the slightly increased commitment of renting out vacation property.
San Jose, California
Although a relatively popular destination in the grand scheme of things, it isn’t a wise choice to buy a vacation property here. For those interested in staying in California, they would usually choose places like San Francisco, Santa Monica or Los Angeles purely because there is more to see and do in these areas.
Sunset Beach, North Carolina
It’s true that many travellers do want to stay at Sunset Beach for their vacation but research from popular website HomeAway reports something quite worrying. There are more people listing their vacation rentals here than the demand for properties in this area. It is not known exactly why this is yet but it’s probably best not to purchase a vacation rental property here.
It’s so important that you fully do your research before you purchase a rental property no matter WHERE it is. It really isn’t as easy as buying a property and putting it on the maket so make an investment wisely and you are sure to reap the results.