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60 Percent of Guests Would Pay More for a Vacation Rental With a Smart Home Feature, August Home Study Reveals | Business Wire

60 Percent of Guests Would Pay More for a Vacation Rental With a Smart Home Feature, August Home Study Reveals | Business Wire | Texas Coast Real Estate | Scoop.it

Guests state that vacation homes provide a superior rental experience to hotels (78%) making short-term rentals a more compelling alternative.

 

And smart tech is making it even better, both vacation guests (80%) and business travelers (92%) report they are more likely to complete their rental reservation if the property has smart home technology.

 

60% of Guests indicate they would pay more for a vacation rental with a smart home feature.

 

 

Michael Stuart's insight:

Hosts and Guests believe smart home technology, such as smart locks and doorbell cameras will be a part of all rentals in the future.

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Vacation home buying: All you need is love and the right lifestyle area

Vacation home buying: All you need is love and the right lifestyle area | Texas Coast Real Estate | Scoop.it

Advice about purchasing a second home — like the Vacation Home Tip Sheet below – kind of reminds me of a horoscope; it includes common sense rules that could apply to any buyer and any home. My list of important criteria for buying the perfect Texas beach home is a little different, and it goes like this:

1. Love something about the area where you are considering buying a second home. To buy, use and maintain a vacation home, there has to be a compelling reason and an emotional attachment that keeps you coming back year after year. Otherwise, it’s not worth the hassle even if you can rent it to cover the mortgage.

2. Buy in an area close to your primary residence or family. The bulk of second homes are within two hours of buyers’ primary residences.

3. Know your second hometown well enough to pick out what we at Texas Beach Homes call “the lifestyle area” that best suits your needs. Take the time to dig into each neighborhood before you plunk down your money. Sometimes homes in your preferred area aren’t frequently available so you’ll have to be patient and work with a local realtor to spot listings when they come up.

4. Stay in the area with your family and see what it’s like to live there during the season when you plan to visit. Are the people friendly? Is the ambience conducive to relaxing or adventuring or whatever is your purpose for getting away from your primary home?

And, of course, follow the tips in the Vacation Home Tip Sheet. But first, make sure you have love, proximity and the right lifestyle area for your new beach home.

Read more Vacation Home Tip Sheet

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South Padre in Most Improved Rental Bookings Report

South Padre in Most Improved Rental Bookings Report | Texas Coast Real Estate | Scoop.it

The HomeAway Vacation Owners Report for 2014

More rentals, more owners and increasing rates with younger buyers and renters is the story on the Texas coast.


  • Shows the average age at which owners purchased their vacation home was 47 years young and vs 54 years old only two years ago.
  • South Padre in among the report’s most improved locations. And younger buyers and renters are heading to the coast.


The average age at which owners began renting their vacation homes was 50 years young,  and that’s six years younger than owners in 2012.

  • Are people more determined to take time off and experience pleasant memories with their children?
  • Are they sold on a vacation home as a solid investment?
  • Have they purchased their retirement home and plan on others paying the mortgage and maintenance until they can quit the workforce?

The sales data was consistent with the National Association of Realtors’ 2014 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2013.

  • It revealed vacation-home sales climbed 29.7 percent to an estimated 717,000 last year from 553,000 in 2012.
  • “Growth in the equity markets has greatly benefited high net-worth households, thereby providing the wherewithal and confidence to purchase recreational property,” said Lawrence Yun, NAR’s chief economist, who expected an improvement in the vacation home market.

According to HomeAway, families are feeling more confident in the economy and the financial markets and thus willing to spend cash on vacations.

  • This confidence has provided a solid rental pool for vacation property buyers who have moved their purchase out of the “personal” column and into the “investment” column.
  • “More families and groups are traveling each year to stay in vacation rentals across the world,” said Brian Sharples, co-founder and chief executive officer of HomeAway.
  • Younger buyers are wise to invest in a property as early as possible to take advantage of the rising profile of vacation rental.
Michael Stuart's insight:

Second-home owners overestimate the time they can realistically use their property. Academic calendars, family reunions, can’t-miss business trips and basketball tournaments often get in the way of the only time you can everyone together at the beach or lake.

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paynocommission's curator insight, May 21, 2014 1:52 AM

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