Is it worth to turn my home into a vacation home?
Is your house in an attractive neighborhood and would it be suitable for long-term or to turn it to one of the vacation homes in Cape Coral? Sometimes you don’t have the needed help in deciding whether a vacation home in Cape Coral is the right decision for you personally. As long as the proceeds of a sale are not important for you at the present time, a decision on whether to rent long-term or during vacation periods is always worth an analysis. Real estate prices are constantly climbing and most houses can be rented very well.
If you are also deciding whether a sale is the right step, use our cost-free comparison and compare the individual decisions.
Vacation homes in Cape Coral, our free comparative market analysis will help to decide.
We will create for you a cost-free market analysis enabling you to compare the possibilities of sale, long-term rental and vacation rental. That way, you will already know beforehand what you can expect and perhaps also, what you will have to invest, what operating expenses would fall on you and how much of a return you can expect.
Should you decide on renting, we will gladly introduce you to our partners who can present to you their marketing concept. If you are still in the planning stage and have not yet made your decision, this is the very best time to have an estimate from experts on hand to help you decide.
For an initial self-assessment, we have put together a sample calculation that is designed to give you an initial estimate of whether a vacation rental is worthwhile. In the example, no renovation costs or investments that may possibly prove necessary have been taken into account. Nor are financing costs included.
Example: Rent out a vacation house in Cape Coral
John Doe has a beautifully furnished vacation house in a good location and gets an average rent and enjoys an occupancy rate of 75%; in other words, the house is occupied about 39 weeks per year. If we assume that John Doe gets US$ 900 per rented week, that amounts to an total of US$ 35,100 per annum or an average monthly income of US$ 2,925 per month.
|Approximate cost of Vacation Homes in Cape Coral:|
|Property Management:||$ 120.00 – $ 150 / Month||
|Pool-Service:||$ 80.00/ Month with SPA $ 85 / Month||
|Lawn Service:||$ 80.00 / Month / Corner lot $ 100.00 / Month||
|Pestcontrol:||$ 35.00 / Month||
|Energy costs consumption-dependent:||$ 80.00 bis $ 230 / Month *** partly payed by the renter||
|Water consumption-dependent:||$ 60.00 bis $ 120 / Month||
|Cable-TV/Internet/Phone||$ 100.00 / Month||
|Property Tax/Insurance||$ 500.00 / Month (depending the market value of the house)||
Total costs per month
In the example above, $ 1,725.00 would remain as a “profit”. This does not include repairs, financing costs, provisions, etc.