Should You Invest in Luxury Condo as a Vacation Property?
You fell in love with the beach house you rented over the holidays. You were amazed by the private house overlooking the rolling green fairways, where you and your family stayed a couple of weeks ago. You cannot forget the condominium tucked away in a quiet and gated luxury development. The fresh air, nature’s sounds, thousands of pine trees, and the cool and gentle breeze. Now you are thinking about investing in a vacation luxury condominium property to call your own.
Are you a vacation home buyer, an investor, or both?
Before you consider buying a vacation home, it would help if you could assess yourself – are you a vacation home buyer, an investor, or both?
A decorated luxury studio unit at the Alpine Villas.
A lot of people who consider buying a vacation property invest while on vacation or shortly after returning home. If you want a vacation home for your family and friends to enjoy, and consider renting it out for a couple of weeks each year, you could be categorized as a vacation home buyer.
Your primary reason to purchase a property is for personal use. This is why people are using the term “second home” – a vacation home away from home where you can just relax, unwind, or do whatever you want to do on your own property.
On the other hand, if you are looking for properties while on vacation, then you are thinking like an investor.
Your primary goal for purchasing a vacation property is to make a steady source of income. Planning how you could maximize profit from a real estate investment by leasing it out all year makes you a potential investor.
Moreover, there are some who combine these two options. They rent out the vacation property most of the time while saving specific weeks for their own enjoyment. This can mean using the vacation property during the holidays or peak seasons or turning down longer-term rentals to be able to use the vacation property for their own travel.
Why do you want to buy a vacation property?
Take time to think about why you want to buy a vacation property. Having the money to buy a vacation home is different from buying a vacation property and needing to rent it out to pay its expenses.
If you are considering buying a vacation home, you should be able to pay all of the expenses without renting it out. Meanwhile, if you are buying a vacation property as an investment, you should do your own research and examine if the property can really help you pay your expenses by generating passive income for you.
If you plan to blend these options, you also need to think like an investor. It is critical to know how much rental income you would need to afford the vacation property. And you should have a backup plan in case it does not rent.
The advantages of a vacation property
A lot of people who bought vacation homes are happy with their decisions because they enjoy using and living in the property whenever they go on vacation or they need to unwind. If you choose a vacation home wisely, you and your family will be able to enjoy it for years.
As an investor, buying the right vacation property may mean value appreciation over time and higher rental income. You can also be able to make extra income if you list out your property on listing sites.
Over time, the right vacation rental investment in the right location can significantly increase its value, making you earn more should you decide to sell it. If you are thinking long-term, your vacation property can also ensure you have healthy finances upon retirement. You can either sell it to healthcare, travel, and a lot more or you can keep it as your retirement home.
What to note when buying a property
If you are buying a vacation home for personal use, you may feel that you are should you want to spend your vacation elsewhere. Without property management, HOA, or your own willingness to pay for repairs, you could spend a lot of your vacation time doing work at your property rather than relaxing.
If you decide to lease out your property, you need to be fine with strangers having to use your belongings. It may also incur more wear and tear and property damage as tenants come and go.
Should you buy a vacation property as an investment?
If this will be your first time investing in a home outside your primary residences, it is important that you learn more about real estate investing. So it would be best to run the numbers, consider all factors, and evaluate if it is really worth investing in given your financial situation.
It is true that a vacation rental investment is an excellent strategy to make money in real estate, and this can be done by studying the market and checking out the property trends.
Today, making money with vacation rentals has become easier because of various rental websites and listing platforms, including social media. If you’re looking to make extra income through real estate, buying a vacation home might be the best way to enter into the real estate business and become a property investor.
You can actually buy a dual-purpose property – use it as a second home and spend your vacations there and lease it out to guests for the rest of the year. The main benefit of this approach is that you gain a steady source of income without having to buy an investment property.
How do you estimate the income potential of your vacation property?
The goal of every investor is a positive cash flow, which is when income is higher than the expenses made. So no matter what rental strategy you are planning to take, you should look for a property that can generate consistent income.
Check and analyze the upfront and ongoing costs, as well as your potential income. In this way, you will see if the cash flow will work for you.
You have to remember that investing in a vacation rental property does not guarantee that you will become rich quickly, but it can be a lucrative source of income. But you might be asking yourself how much money you can make from such property. There is no single answer to this question, as there are a lot of variables that can affect the potential income.
The primary factor to consider is the location of the property. A vacation home located in popular travel destinations is likely to have a high occupancy rate, which is key to generating positive cash flow. Other aspects include proximity to essential amenities, excellent weather, fantastic view, and low crime rate, among others. To increase your revenue, make sure to keep your vacation property occupied as often as possible.
A modern luxury home is located at a prestigious, exclusive address.
Why a luxury condo is best at Crosswinds
If you are planning to invest in a vacation property, you might want to consider buying a property in a safe and secure luxury development such as Crosswinds by Brittany Corporation. As a 100-hectare Swiss-inspired luxury residential property tucked in its own private enclave, it is perfectly surrounded by 35,000 pine trees.
At Crosswinds by Brittany, you can invest in pre-selling condominiums such as the Alpine Villas, which is a collection of six to eight-story mid-rise condominiums in the style of Swiss chalets, tucked exclusively within Crosswinds.
Alpine Villas at Crosswinds gives you the luxury of everyday exclusive living with special access to premium amenities, high-level security, and a Swiss-inspired community that is beyond comparison.
You can enjoy everyday exclusive condo living as everything you need is within arm’s reach without even compromising security, privacy, and exclusivity. It’s time to reward yourself with a lifetime investment of living beyond comfortable.
What will further prime the property are the future developments that will surely make it the best vacation spot in Tagaytay City.
1 Bedroom Unit Alpine Villas in Crosswinds.
Alpine Villas is also seen as a perfect source of passive income with rental opportunities from tourists who want to stay in the city of Tagaytay for a quick weekend getaway.
Crosswinds by Brittany Corporation is set to turnover Alpine Villas’ first building of pre-selling condominium units, Bernese, in the fourth quarter of the year 2021 and its second building, Blanc, in the second quarter of 2022.
Named after ranges of the Swiss Alps, Bernese and Blanc are well planned, sustainably considering the land development in the area. Designed to make everything within reach, the luxury condominium development is set to have its exclusive amenity pavilion inside Crosswinds Tagaytay. Moreover, additional upscale commercial and retail establishments are expected to open in the future to complement the posh residential development of Alpine Villas at Crosswinds.
Crosswinds by Brittany Corporation is only less than 5 minutes away from the popular landmark, Tagaytay Picnic Grove and it is about 7 minutes away west of the Tagaytay Rotunda which is in close proximity to the most popular restaurants, activity areas, hotels, and casinos.
Now with multiple access roads, Tagaytay has become incredibly accessible. Going to Crosswinds by Brittany Corporation in Tagaytay City is a breeze as the said luxury property development is served by major highways and alternative access roads which include the South Luzon Expressway (SLEX) – Eton and Silangan Exits that lead to the Sta. Rosa-Tagaytay Road, as well as Aguinaldo Highway.
Whether you are looking for a property to invest in or a private home away from home, there is no better place to do it than in Tagaytay, and there is no better property to choose than Crosswinds by Brittany Corporation.
At Crosswinds, there’s more to just enjoying the Swiss lifestyle, as the said enclave also offers premium and lifetime investments of value through its luxury residential developments like the Alpine Villas.