From our February 2021 St Croix Newsletter
Question: “I want to buy a property and rent it part of the year as a vacation rental. Should I buy a house or a condo?”
Chris’s Answer:
Houses provide indoor and outdoor space and privacy for you and your guests. They will generally be more expensive to buy than condos. To maintain and care for a house, and possibly a pool, you need to factor in the on-going costs of hiring professionals, or the costs of services like cable TV, internet, etc.
With a condo, exterior maintenance, landscaping, and pool maintenance are usually built into the HOA fees. The HOA fees may also include windstorm insurance or other amenities. Condos are a smaller space, and can have restrictions on the number of guests.
Both houses and condos make great vacation rentals. An important question to ask yourself is, “Would I want to stay there as a guest?” Look at the property with being a guest in mind. Go on different vacation rental web sites, and see how listings are presented. What attracts you to those listings? Where would you want to stay – in a house or a condo?
Contact us and we will be happy help you!
Photo: 103 B Golden Rock Condo
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