How To Make Your Beach Home Pay for Itself

Many people dream about having a beach house where they can escape from the chaos of their everyday love and make memories. However, ownership of a beach property comes with a lot of expenses. You have to pay utility bills, HOA fees, maintenance, property taxes, and more. The good news is that there are ways that will help you generate passive income when you are not using your vacation home.

1. Rent your home short-term or seasonally.

You can easily find someone who will want to rent your beach for a few months in the fall or winter when you are not using it. However, you need to understand your potential tenants. People who are usually interested in renting a beach home in the offseason include retired seniors, romantic couples looking for a romantic getaway, or remote workers.

2. Purchase your beach home using your IRA or retirement account.

There are some retirement accounts that allow you to purchase properties by using their funds. They will cover the bills and take the income for the property. Since there are certain rules, requirements, and limitations, you need to consult your financial advisor first before buying a beach home.

3. Use the outdoor space on your property to grow flowers, fruits, and vegetables.

If you have a yard, you can use this outdoor space for growing produce and flowers that you can sell at a local farmers' market or your roadside stand.

4. Rent your beach property as a set.

You do not have to have a large luxury property to rent it out as a show or film set. Many shows and movies feature ordinary homes. Also, there are a lot of advertising agencies that are also looking for spaces for their commercial shoots. This way, you can make some extra income on your beach home when you are not using it.

Contact Berger Realty

Are you a lucky owner of one of the many beautiful Ocean City beach houses and want to rent it out? Contact Berger Realty, a real estate company specializing in vacation rentals since 1920. Our family-owned company is a leader in real estate transactions in the state of New Jersey, and we specialize in pet friendly summer rentals in Ocean City, NJ and other surrounding areas. Our knowledgeable and experienced staff will help you rent out your beach property and make your vacation home pay for itself. If you have any questions, or you want to know more about the real estate services we offer, reach out to Berger Realty!