Real Estate Investing

So over the holidays, the subject of the dreaded family vacation came up. I, being one of the few family members with a toddler, have decided to find my own lodging near the “big house” that is expected to hold as much as 20 people. It’s a matter of peace and sanity, and keeping the 2-year-old on his sleeping schedule, which of course ties back in to peace and sanity.

Planning a vacation may be considered one of life’s more befuddling tasks, at least for people like me who don’t deal well with minutiae and things like numbers. Below are some tips on things to consider when researching vacation property:

Proximity to beach, mountains, etc. Will you have a car? If not, your lodging arrangements ideally need to be within walking distance of the main attractions, unless there are ample public transportation options available.

Are pets and smoking allowed? This will be important in more ways than one. Even if you are a non-smoker or travelling without pets in tow, a place that allows these things may smell bad, for starters. Also, the presence of pets tends to have an effect on the quality of furniture and flooring.

Time of year. Alas, my family vacation will be in the peak of summer. With your vacation, however, you might opt for August 1 or later, or perhaps some time in May. The rates are much more affordable in off-peak seasons.

House or condo? There are many more options available nowadays in the area of vacation rentals. Research the benefits of each. Condos may be more affordable, but may not offer ground level entry. In that case, are elevators available? Never underestimate the value of personal interaction in finding and negotiating good vacation deals.

There are few things in life that provide balm for the soul like a nice, long vacation. A recent post spotlighted the hot Texas real estate market, particularly for retirees and the second home/vacation home market. Well, that got my Generation X mind thinking of all the vacation home possibilities for the rest of us.

We’re the ones who haven’t exactly hit the pinnacle of our careers yet and may not be able to plunk down the change for a vacation home, timeshare or even a standard weeklong rental rate. Where does that leave us? Dwindling away in Cubicle City, waiting for the magic fairy to save us? No! In fairness to my Internet-minded generation, this post’s for you.

Craigslist is a great first stop for budget-conscious seekers of vacation rental properties. Considering it is a worldwide online buy/sale/network community, this San Fran-based site is policed quite well for scams and frauds. This site is nothing fancy, no bells and whistles, but has proven a goldmine for yard sales, unique furniture, kids’ toys — and yes, vacation rentals. Just click on your city of choice, then click on “vacation rentals” under the “Housing” category and away you go. It’s all about eliminating the middle man. Great deals abound, especially during the off-season.

There is also a Craigslist link to “housing swap.” This idea really gained popularity after being prominently featured in last year’s film, The Holiday. Incredulous that such a concept could actually happen, I researched it and found that people do indeed swap houses for a week or so. Does the idea of giving perfect strangers the run of my house while I’m away creep me out? Well, yes actually, but different strokes for different folks. While primarily done with vacations in mind, there is a growing trend of swapping houses for actual real estate purchases.

So there you have it! Two innovative ways to find your next vacation rental on a budget. Has anyone had a glorious or horrendous experience with either of these options? Love to hear about it in a comment post!