Monday, October 14, 2019

Vacation homes: How to transform your home into a destination

venice beach
Venice Beach - Photo by David Mark
Vacation homes can be great investments, but they can also be a lot of work to maintain. That’s why it’s so important to make sure you understand the ins and outs of turning your home into a getaway before you make any decisions. Whether you want to create a space solely for renters or simply turn your home into a beautiful stopover for travelers a few months out of the year, it’s crucial to think about how to make the most of what you have and how to save money when it comes to updating and upgrading.

Many homeowners don’t realize that you don’t have to spend a ton of money to transform a home into a gorgeous getaway. If your house already has good bones, it’s possible to make some simple, DIY updates and fill the space with little luxuries, such as soft bedding and a stocked kitchen. It’s often the little things that help a visitor feel at home, and this will help you keep costs down as you go.

Keep reading for some great tips on how to turn your home into a vacation spot anyone would love.

Keep location front and center
The location of your vacation home will depend on many factors; some homeowners want to transform a property they already own into a rental, while others are on the lookout for a place to transform from scratch. No matter what your plans are for your vacation home, keep the location in mind first and foremost, since this is crucial when it comes to figuring out what kind of investment you should make.

When choosing a location for your home, you need to take into account how you’ll manage your vacation rental. If your vacation home is a long way from your current home, your best bet will be hiring a rental management company to handle any day-to-day issues. In addition to providing local support, a property manager can handle housekeeping services and online booking for your guests.

Work out the financials
One of the most difficult parts of owning a home is working out the financial end of things, and when you’re going to be renting out the space, you need to make sure that you’ll get a nice return on your investment. That’s why it’s crucial to keep track of your spending and to plan carefully when it comes to what sorts of upgrades you should add. For example, a hot tub can be a great addition to some homes, but it may not guarantee as many renters as adding extra beds or updating the kitchen appliances will.

Don’t forget the details
Sometimes, it’s the little things that make a big impression. For renters who want to have a home-away-from-home while they’re on vacation, turning each room into a comfortable living space will be crucial. Keep in mind that if you’re transforming your own home into a rental, it will be a good idea to take down personal photos and decor to make the rooms more neutral, the same as you would if you were trying to sell your home. You can also add some curb appeal by painting the front door, sprucing up the mailbox, and adding some flowers or shrubs to the front yard.

Add some security
When someone rents your home as a place to stay during their vacation, they want to feel safe and secure while their family relaxes. This means you should look at different security system models, price them, and research the neighborhood to find out how common crime is in the area and what other homeowners use to protect their property. Think, too, about how you’ll keep everything safe when you can’t be there yourself, especially if your year-round home isn’t close by.

Vacation homes can take a lot of work to set up and maintain, but if you have the means and are ready to tackle it all, turning your house into a vacation getaway can also be a wonderful investment that gives you the ability to earn extra money throughout the year. By making thoughtful decisions, you can ensure that the process goes smoothly, and that you and your family are set up with a source of income for a long time.

These tips are brought to you by the Warrendale (Detroit) Blog as part of our semi-regular Tip of the Week feature. Please check back every Monday for more advice on your home, money, and life.

Also, be sure to follow the author, Frank Nemecek, on Twitter and Instagram as @fnemecek for more great information.

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