Williams said that's enough to cover all expenses and turn a tidy profit. She set the weekly rates at $900 to $1,500 for the two-bedroom, and the house has been booked about 70% of the time, bringing in $40,000 or so a year. But it's also more profitable, as long as tourists keep coming. That's more work, because she has to manage the bookings and supervise maintenance and cleaning crews. She rents out the homes for short-stays - weekends, weeks or months. Now, she can't book until June when the repair is finished, so there's lost income.ĥ things to know about buying a vacation home Williams had been getting calls from renters since she first put the rental online in late March, at $1,800 a week and up. That will improve the house but cost upwards of $25,000. Fixing the axles involves tearing out the core and rebuilding it. Its axles were rusting."Ī previous owner, maybe two, must have expanded the living space of the mobile home by building wings all around it. "The home is 2,180 square feet," she said, "and 460 of that, right in the middle, was a mobile home. Williams paid just $140,000 for a six-bedroom, five-bath, "lodge-like" house a few blocks off the shore, but a problem cropped up. The latest deal came this past winter and seemed, at first, like a steal. ( Latest home price forecasts in your area.) She and John use it for their own stuff, but it came with a 750 square foot apartment, which she rents for $600 a month. The next purchase was a five-bay storage property she bought for $119,000 in April 2010. (Ask the Expert: 'Should I buy a vacation home?') "There was very little work to do on it and the deal included the furnishings," Williams said. It sleeps 12, has its own dock and provides easy access to great fishing waters. Williams found a two-bedroom on the water for $250,000. "I can do that too," Williams said to herself.
The cabinet maker mentioned that he also builds vacation homes to rent, and a light bulb went off.
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To be able to stay in Rockport most of the time, she decided to install a home office and hired a cabinet maker to put it in. Malynda kept her retail consulting job for Xerox in College Station. John soon sold his business building natural gas facilities, and began spending time in Rockport. America's most (and least) affordable cities
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