Buying a home in Hot Springs Village doesn’t necessarily mean living here full-time. Not that living here is bad – the quality of life here is actually incredibly good – but we understand that some of our owners are not ready to leave where they currently live. Does that mean you cannot buy here? Absolutely not. A vacation rental is certainly on the table.
Hot Springs Village rental homes are pretty popular with tourists. People from all over the country come here to visit simply because the surrounding area has so much to offer. By investing in a vacation rental, you can help meet the need for temporary housing and guarantee you always have a fantastic vacation destination to come to. It is the best of both worlds.
Here are five reasons vacation rentals make great investments, whether in Hot Springs Village or elsewhere:
1. Visitors Prefer Them
Travel preferences have changed quite a bit over the years. Fifty years ago, we saw a transition from camping to roadside motels. Those roadside motels gave way to corporate hotel chains. Today, the trend is toward vacation rentals.
A study conducted in advance of the 2022 travel season revealed that 86% of those who planned to hit the road this year also planned to utilize vacation rentals rather than hotels. That is an astounding number! So in an area that sees heavy tourism, investing in a vacation rental makes a lot of sense.
2. It Provides Residual Income
Few investments provide the type of residual income you get from vacation rentals. Stocks and bonds go up and down. So do commodities. Even the prices of precious metals and cryptocurrencies rise and fall. But real estate remains stable.
Simply put, a vacation rental provides residual income month after month, year after year. All the while, the value of the property is likely to go up over many years of ownership. When it comes time to sell, you’ve more than made your money.
3. That Income Can Be Passive
One of the things that scares people away from vacation rentals is the thought of having to maintain a property. But here in Hot Springs Village, you don’t have to self-manage your property if you don’t want to. We offer complete property management services that relieve you of the responsibility. When you let us manage things, your residual income becomes passive income. You reap the income while we do the work.
4. You Get a Second Home That Pays for Itself
Vacation rentals make great investments because their owners get second homes that pay for themselves. In other words, rental income ultimately pays your mortgage and all the expenses that go with ownership. You ultimately get a second home that your guests pay for. Should you choose to, you will have a home ready for you to spend your retirement years in.
5. You Get a Guaranteed Vacation Spot
Finally, owning a vacation rental guarantees you a vacation spot whenever you want to get away. You do not have to compete with others for limited occupancy. You do not have to spend weeks at a time scouring booking engines in search of accommodations for you and your extended family. Just tell your property manager when you’re coming, and those dates will be kept open for you.
There are almost always Hot Springs Village rental homes for sale. We hope you will take a look here if you’re hoping to buy vacation rental. But even if you are looking elsewhere, vacation rentals make fantastic investments. We think they represent one of the best options investors can put their money into.