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Are there any restaurant/hotel people here?
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What are the eat what you kill firms?
Not for me - even on vacation, I need access to more restaurants, a bookstore, a grocery store and maybe even a Farmer’s Market. Just the water and nothing else would make me a little nuts. But I’m sure that sounds like heaven to others.
Probably not. I’d rather be able to walk or ride a bike
I want to say 100% yes. But where? What state? I love doing this in Maine spring summer and fall.
Virgina - 3/3.5 hours south of DC
Not for me. I am Asian and would stick out like a sore thumb and get stares. Last thing I want or need while on vacation.
My husband keeps wondering if we’re going to stick out. When we were last down there no one was there because all the houses are 2nd homes for people escaping DC. We tried to a little deed sleuthing but they are all trusts so we’re a guessing the neighbors are not locals.
My parents are in the next town over but that’s a different retirement scene than this town is.
Renting a historic home at full occupancy sounds like a bad idea. One bad tenant and your repair cost will be high to restore.
Yeah now that I say that out loud…
Few thoughts: Depends on location, quality of the home and furnishings, pool, definition of “water” (is it marsh, part of a boat club or beach), weather, mosquitos. Are there nice hiking or bike trails. How far from a well-connected airport. Is there a building manager who will provide services like shopping in advance and help promptly with issues on demand.
The airstrip gets regular use - esp in the summer and we’ve use it and it is a really easy to get a quick flight from Leesburg area and Richmond. The rental market is semi-established. Homes can pull 5-6k per week in summer on Air BNB in a 15 mile radius with most being even more remote than this but there are no rentals in the little town itself to gauge from and most of the houses that pull that are similar sized houses on the water with various water recreation options but none have the river beach.
Not for us either. We need to be able to entertain kiddos and teens.
We weee joking around that we may need to buy the ice cream shop across the street since our kids would be there all day but yeah… high speed internet might not be enough 👀
Sounds like my full time residence in the Rocky Mountains. Only my house isn’t very big, it’s more about the views where I’m at.
Absolutely - we just bought land about 3 hours away to get away from the hustle. In the mountains and near several lakes. Planning on building in a few years. Spend holidays and summers there while our kids are still around.
Agree with EY 1 comments, more amenities and robust management probably needed. Sounds like Chesapeake Eastern Shore. All that said, you could also market to small affiliate groups if large enough- think quilt clubs, old college roommate get togethers. I own a place in the Columbia Gorge 15 minutes from a decent town with significant amenities and activities, and rentals work well.
Mentor
We have a historic home that was a party house, and has been home for a year. Covid. How long? My brain hurts.
Joking aside, ours is within reach of the city, an hour. We can go on a whim.
It’s wonderful to be able to escape. The two questions I would ask are:
- will you get enough use to make it worthwhile? Is it too far away?
- will you be part of the community? If you seagull in and don’t spend money you will not be part of the community. You can be ‘those people’.
Something less grand and closer to home?
Another thing - from what I hear from people who try to lease out their place, be sure you know what you’re doing. You’re just one bad tenant away from never renting it again. We have a second home and the intent was to rent it out. We did once - to family friends - and they lost our snow shovel and stained our comforter and that was the end of that. I realized I don’t want strangers sleeping in my bed. If you can’t afford it without renting, then you can’t afford it.
I love our second home, but it’s in a charming town, not the middle of nowhere. I’m an extrovert and I need to have access to people. We used to eat out a lot, but restaurants are suffering from lack of staff and the wait times are crazy, so we cook all of our meals now - which is why having a decent grocery store nearby is key. What you describe might be fun once - but I know I would get bored.
I know - minor transgression in the greater scheme of things, which is what indicated to us that we needed to NOT be landlords.
It sounds beautiful but I value proximity to activities, so no. The house can’t be the destination.