During summer, nothing compares to the joy of having the whole family head to the lakeside home. You are only a few feet away from blissful water and surrounded by pristine nature. Then again, buying and owning a lake house is a huge investment of time and money. To alleviate the financial pressure and avoid headaches, you can make the property more attractive for those who would like to rent it. Namely, even if you want to use it as a vacation home, you should consider renting it during the offseason. Here are some smart projects to get the most bang for your buck.
A list of things to consider
First off, educate yourself. Get familiar with all the pros and cons of renting.
It may seem like a chance to tap into easy profit, but things are not as simple. Yes, a rent can offset mortgage payments or high costs of ownership. On the other hand, in case there are no water sports opportunities and exciting trails, it could sit idle and empty and generate expenses instead of income. Another thing to take into account is that your house will endure more wear and tear and you will have more maintenance costs. You also have to be a landlord, which can be time-consuming. To do it right, you need to choose home improvements that will have a real impact on the rental price and appeal of your house.
Style and substance
So, assess the wants and needs of your target customers. If you want to attract millennials, for instance, you might have to be more contemporary and minimalist and use modern materials like glass and concrete more. You know those kinds of surfaces that ooze transparency, edginess, and smoothness. But, in general, lake houses are all about cosiness and comfort. Thus, it is a safe bet to introduce interior elements like throw pillows, fuzzy blankets, textured curtains, and other fabrics and accents. Don’t overdo it, however. You cannot afford to lose sight of the functionality. At the same time, it would be wise to set your own preferences and taste aside. This is hard because it’s your home, but it must be done if you really mean business.
Beyond visuals, figure out ways to boost comfort with storage, furniture, and heating options. Heated floors are a great option, an enticing alternative to freestanding heaters and central heating. You and your guests will never have to worry about having cold feet. Moreover, these heating systems are able to outlast counterparts like furnaces by up to 35 years. On the flip side, they are quite pricey to install.
The great outdoors
Don’t make the mistake of neglecting your outdoor space. If you have a dock pier, spruce it up with a fresh coat of paint, add a new deckchair, and set up a comfy spot with pillows and blankets. Transform it into an ultimate area for chilling out, stargazing, and quiet relaxation. Of course, a pier can also serve as a diving platform or fishing perch. Even if the lake might be just meters away, swimming pool is always a great idea - especially if you think about all the social points you can score by installing swimming pool lights and making the property night swim friendly. So, without much fuss, you can significantly enhance the allure of your property.
Finally, to boost the curb appeal even further, ponder on striking outdoor lighting features and illuminate your walkways or staircases. Think about investing in a boat with a tube or kayak to enable renters to embark on water adventures. Adding this to an array of fun lake activities is likely to draw younger renters and those into water sports. It goes without saying that you should charge extra for the privilege.
The best of both worlds
Renting your vacation home for a hefty income home seems like a dream. However, due to a multitude of financial and practical factors, it’s certainly not a walk in the park. You need to weigh all factors, financial and otherwise, before taking a plunge. You don’t want to run a shabby business or undermine your own vacation plans. So, identify cost-effective improvement projects and create a lake house that is inviting and cosy. Enable renters to marvel the surrounding nature in its full glory.
As for yourself, well, you will be able to enjoy a beautiful waterfront view while in your lakeside retreat and have a peace of mind when away from it.
Faith is a writer, seeking beauty and happiness everywhere she goes and finding it in her work, family, and home. Passionate about just living life to the fullest, she’s into home decor and healthy lifestyle, trying to be the best version of herself and make her surroundings match.