When we think “vacation rental” we nearly always picture a beachside cabana. We think of warm places with plenty of sun. All these things can be true for vacation homes, but the fact is that there are plenty ways to vacation — and considering most states in the U.S. experience winter, it wouldn’t make sense to rule out owning a vacation home, just because of the colder weather.
In fact, winter vacation homes can be some of the most popular places for people to travel. Our non-recourse loan lenders are here to explain why you shouldn’t overlook owning a winter vacation rental. Find out more in our blog, and contact First Western Federal Savings Bank to get started on a non-recourse loan and getting your vacation rental set up!
Winter vacation rentals have their own niche.
While it’s true that many states experience winter, there are plenty of states that don’t. In places like southern California or Florida, you’re not likely to have a white Christmas or be able to hit the slopes with ease. If you have a winter vacation rental, you’re automatically getting a client demographic of people that are
looking to spend time in a season that they’ll otherwise not experience.
Winter vacation rentals are in high demand.
People aren’t just going to skip going on vacation in the winter. It’s true that some will be opting for a warm vacation to escape the cold, but some are ready to embrace it! The beach can happen any time of year — skiing, snowshoeing, snowboarding, and sledding cannot.
Not to mention, it can sometimes be more expensive to travel to a warmer destination. Those who live in the same state as your vacation rental are able to still have their getaway without having to break the bank.
Winter vacation rentals are sensible.
Winter lasts for months (and seemingly years if you live in particularly cold places). To have a vacation rental that can only be used in the summer months is an option, but there’s a good chance you could miss out on making a profit. Of course, you’ll want to weigh out whether your rental is worth running during the winter months, but in most cases, rental homes could continue making money even in the offseason.
Winter vacation rentals are an asset.
Just as with any rental property and/or vacation home, owning a vacation rental means having an asset that helps add to your financial portfolio. Renting it out will generate added income for you — and who can say no to that? Plus, you’ll have a property that can be sold at a later date in time, which can provide you with additional opportunities to increase your revenue.
Winter vacation rentals are increasing in popularity.
More and more vacationers are starting to notice the benefits of traveling in winter — particularly to some colder destinations. In short, it’s cheaper. Winter is considered a low season for travel (after the holidays, that is), so it comes as no surprise that plane tickets are usually less expensive and lodging rates are lower. Many are starting to jump on this train, and when combined with the fact that the number of people traveling (especially among millennials) has only continued to increase, it means your winter vacation rental is looking pretty idyllic for lots of interested explorers.
Of course, the way to get started with owning a winter vacation rental is by applying for a non-recourse loan at First Western Federal Savings Bank! With our decades of experience and care for our clients, we are the lenders you can trust. Get in touch with us today to begin the application process!