Originally written for business in Vancouver on behalf of wildwood lakefront cottages
It’s been a decade since “The Great Recession”, which saw once-in-a-generation level price drops on US real estate. The drop was largely due to over-leveraged real estate investors, middle-class investors seeing a 10x spike in delinquencies in 2008 and 2009 compared to that of the previous two years. But, had short term rental sites like Airbnb been as prevalent as they are now, would those delinquencies have been so high? Likely not as they would provide a support stream for most investors to at least keep collectors away from the door.
That’s why the buy-and-hold strategy is dying. Instead of having a passive investment that relies on market fluctuations, smart investors in cities like Colorado Springs and Washington State are finding reliable revenue streams from short term rental sites while also knowing that they can enjoy the property with their family when they are able to.
The old adage in real estate is location, location, location and even in this high-tech age, that simple mantra is still applicable. Luxury amenities, views, and a positive community are three of the must-haves when looking for a vacation investment property. The first two allow you to easily market the property as it will already be compelling; the latter ensures that guests, and your family, will have a great time while staying there. According to Andy Krause of Zillow, waterfront properties are worth double that of comparable non-waterfront properties so if you can spring for the extra cost, it can pay dividends later on; not only in a financial sense, but with the years of joy that you and your family can enjoy on, in, and beside the water.
For BC-based investors, it makes sense to look for a US property that is close by. That means looking towards Washington State and Oregon. Although the likes of Portland might be tempting, the cost vs potential profit is razor thin. However, Seattle and surrounding communities are growing at an exponential rate, attracting tourists from all over the globe as the build their international reputation. Meaning that investors can purchase, rent, and the subsequently flip a property with a high likelihood for short- and long-term profit on their initial investment.
One such area where they can do this is Whatcom Lake. Situated less than two hours from both Vancouver, BC and Seattle, WA, the area’s real estate market has seen a 13% year over year increase between 2017 and 2018, according to Trulia, and is home to luxurious gated communities like Wildwood Lakefront Cottages. The grounds, which cover 1,800 linear feet of waterfront, have an abundance of amenities including a USTA competition-sized tennis court, a lakeside pool and hot tub, a boardwalk, and a covered recreation centre. The community has beckoned many families and kids from toddler to teens can find something to do in the games room, the playground, and on the lake itself. Starting at the low $200s, an investment at Wildwood Lakefront Cottages provides an opportunity to make a lifetime of memories.
No matter what you are looking for in a perfect vacation property, think beyond just the initial investment of money and consider the investment in your time with family and friends, in making happy memories, and in allowing yourself to unplug from your hectic 9-to-5 career. Invest your time wisely by contacting Wildwood Lakefront Cottages today.