If you are considering investing in a vacation rental property but you think your immediate home area is not a suitable destination for the kinds of prospective vacationers you want to attract, then there is a good way to go about looking for the right place: take a vacation yourself.
Do some research first into the most popular vacation rental property destinations that are within a couple of hours’ drive from your home – buying your investment property too far away can be problematic later on, if it’s too far to keep a good eye on it. Do take into consideration your own family’s preferences for what makes a good vacation destination, because if your family likes an area, chances are good that other families and holidaymakers will too, and you will have a high occupancy rate on your property.
Then book in to a couple of different properties in the destination you choose. For example, if you’re spending a week on vacation, try to stay in at least two different properties, perhaps in slightly different areas, or different styles of accommodation. Try them out for yourself and you’ll have a much better idea of the exact kind of property which should be most successful as an investment. Plus, the bonus is you get your own vacation as well!