How to invest in a vacation property

The official start of summer is almost here and that means one thing; it’s time for a vacation! I love hitting a new destination every once in a while, but my favourite summer memories are of the times spent at my grandparents’ vacation home. Whether you prefer a cabin, cottage, or condo, purchasing a vacation property is an investment that your whole family will love for generations to come.

Like any big purchase, investing in a vacation home can seem stressful, but it doesn’t have to be! Here are some tips to smooth out the process and get you one step closer to some much-needed rest and relaxation.

Hire a Property Management Company!

Hiring a property management company for your vacation home can be pricey, but it can save a lot of effort and time on your part. A property manager can open and close your property each season and assist with renting your property out in the off season. This is a great option for those that live far away from their vacation home.

Hire a Local Caretaker!

If you don’t plan to rent out your vacation property or prefer to handle rentals yourself, hiring a local caretaker is a more flexible, less expensive alternative to a property manager. Plus, having a caretaker to check on your home from time to time will give you peace of mind. There are several listings online, but a simple referral can go a long way. Ask your neighbours or nearby property owners for a recommendation.

Keep your Vacation Info Handy!

If you do plan to rent out your vacation property, compile all essential information into a book or folder for your renters. This eliminates your need to be on call or available at all times. Make sure to include:

  • Plumber
  • Electrician
  • Landscaper
  • Maintenance
  • Emergency Contact

You may also consider installing a keyless door entry system. This will allow you and your guests access as needed and could be critical in the event of an emergency.

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Get in touch if you are interested in more information to find your perfect getaway.