Investment Property - Vacation Homes

Want to invest money into something that you can enjoy?

You betcha, how about vacation property?

There are many options for vacation investments:

- cabins/vacation homes on a lake, ocean-front or beach area

- cabins/vacation homes in a popular recreation or tourist spot

- developable land

Just to name a few.

Many investors have been rushing in to buy lakeshore and ocean-front property. This has driven those prices up dramatically. I would recommend looking at the next tier of vacation properties to try and ride the appreciation up yourself:

- areas similar to popular recreation or tourist destinations (i.e., Idaho and other western states with good skiing are now starting to take off similar to Colorado and Wyoming)

- smaller vacation homes in need of expansion or updating (i.e., a seasonal cabin in need of winterizing)

- river or stream-front acreage - you can look for property with a driveway, well and electric already in which would make it easier to use the property prior to developing it

These are just a few ideas. If you want to invest wisely, try to think outside the box, different from the rest to avoid paying the high prices for the properties people are grabbing up now and instead go for what will be the next popular vacation need. Mainly, look for something you can enjoy!

Happy vacationing!