Many of us think that a beach house is just a dream, but if you are willing explore the option of a short-term rental in your home a few weeks per year, you will earn generous income that can help to offset your home-ownership expenses.
What are some of the benefits of a short-term rental?
· Earned income – the biggest benefit! Offset this or other property expenses you currently have.
· Flexibility – you make the rules. You can live there when you want, and rent at your convenience.
· Improved home maintenance – if you have renters coming, you will want your home in tip-top shape. You will have to keep everything in your home working properly and looking great. This is a long-term benefit for you – and ultimately will keep your home at top value.
I have a listing currently on the market that is a fantastic example of a property that could earn substantial rental income while also being an owner occupied property.
8 67th Street, Newburyport (Plum Island), Massachusetts 01950 is offered at $625,000 and is a completely renovated Plum Island home. The home is over 2000 square feet and includes many amenities such as plentiful cabinet storage in the upgraded eat-in kitchen, three bedrooms on the second floor, 2.5 bathrooms including a master bath, first floor laundry, gas and wood burning fireplaces, ceiling fans, A/C wall units, a great full basement with work shop, 6 car off street parking and a convenient storage shed. Relax in the sunshine on the oversized deck, fenced yard, and simply enjoy the sounds of the ocean in the sun porch.
You can enjoy a staycation this summer and pay your property taxes and most likely a few mortgage payments by renting the property in peak season for just a couple of weeks. A property of this size and style easily pulls in $3,500+ per week during the summer.
Please always feel free to contact me to help you sell your home, or find your dream home: (978) 815-4751.