Buying a Destination Resort area Property
Why Destination Resort Property is a Good Investment
Aspen, Telluride, and Key West are just a few examples of resort areas. Why? Because they are destination locations. Aspen and Telluride are known for their skiing and snowboarding. Key West is known for as a tropical oasis--a place where the breezes of the Gulf of Mexico and Atlantic criss-cross across island chains off the southern Florida coast. The West Indies are just below and every day the sunset can be seen sinking over the Gulf of Mexico into the western horizon. Resort properties in such a location can make one great real estate investment.
Resort Properties are Always in Demand
Regardless of the economy or real estate market, resort properties stay in demand. Obviously, this is a result of the property being in the heart of a highly visited locale. This means having a resort property is having not only a vacation home but a marketable rental property. And because the area attracts so many tourists, there is a huge pool of potential renters. This means a resort property owner can pick and choose freely from a large group of renters.
Work and play another advantage of owning a destination resort property as an investment is being able to get a two for one deal. Work can be overwhelming at times but picking up and leaving isn't always an option. Sometimes, you have to take work with you, even if you are going on a short holiday. But when you own a destination resort property, you can have your cake and eat it too. Having a destination resort property means being able to work part-time and play the rest. It's not only a change of pace, but it's also a motivator.
Work Today, Retire Tomorrow
Owning a destination resort property doesn't end when you retire. The destination will still be there and the climate won't have changed. So, it makes for a great retirement option. You also have the option to hold onto your primary residence or to sell it and move permanently. Either way, the choice is yours and be the time retirement comes around, you'll know the destination resort intimately.
Appreciation Follows Popularity
As mentioned above, destination resorts are inherently popular travel sites. That translates directly into an appreciating asset. Over time, it will be worth more and more. So, if you elect to sell it rather than retire in it, you'll have a great return on your investment. And that money can be put right into your nest egg.