Want to purchase a beach home for the summer? NOW is the time to start your search. It’s hard to think about the beach when you are wrapped up in your winter coat and just took out the Christmas tree a week or so ago. But, it is the perfect time to start looking at and purchasing a beach home. Many people purchase a vacation home that they can use when they are ready for a getaway. They rent it out the rest of the year to cover the purchase and make a profit.
Buyers definitely have the upper hand during negotiations during the off-season. While inventory may be lower in the colder months, there are also fewer buyers. This gives the buyer a definite advantage.
Another reason to purchase in February and March instead of waiting until May or June is that you can maximize your rental revenue. If you wait until the summer months to purchase, you miss several prime weeks when you could be renting at the highest rates. Summer rental rates are often double compared to the rest of the year. Buy now and you will be ready to start renting right when high rates are easy to obtain.