When you are ready to make an investment that generates income, you may decide on a vacation rental. This option may be appealing since you can take your time with property shopping until you find one that you know will satisfy your wants and needs for a vacation rental. Putting a lot of time and effort into analyzing certain rooms will lead to buying an ideal investment property.
In many cases, you will find that the place your guests spend the most active time in during their vacation is the living room. This makes it a worthy room to analyze closely because you want to make sure that it has enough space to accommodate the number of guests you intend on having.
A small living room in a four-bedroom home when you are living there and using a couple bedrooms for other purposes may work okay. However, buying a vacation rental with this many bedrooms means that you could get as many as ten guests staying in the place at one time. Figuring out the maximum guest count will help you find a place with a suitable living room size.
In a vacation rental, you should expect at two people to stay in each bedroom on occasion. This makes it important to prioritize at least two bedrooms when buying a vacation rental. Going for three bedrooms is even worth considering to play it safe and avoid bathroom limitations. Getting two to three bedrooms with your vacation rental will ensure that most of your guests can use the bathroom without having to wait in line.
While you may know that you can generate consistent income with a vacation rental, you should pay attention to the bedroom count since this can play a role in your total income potential.
A two-bedroom house will not be able to generate as much income as a four-bedroom vacation rental for the sole reason that you cannot accommodate as many guests. So, when you are willing to take on the challenges that come with having more guests staying at your vacation rental, you may want to seek out properties with high bedroom counts to attract families and large groups.
Buying almost any single-family home in good condition will allow you to run a profitable vacation rental. If you want to maximize your chance of success, you should analyze the specific rooms because they can help you pick out a property that you know can excel as a vacation rental. Look for homes for sale in an area you like.