Should I Turn My House into a Short-Term Rental

Photo by Arek Socha via Pixabay 

In a bid to afford homes in high-value areas, many homeowners turn to income from short-term rentals to cover a high mortgage payment. You can benefit from this option with some caveats:

  • Location really matters. A lot. You might advertise your home as near the coast when it’s really 20 miles inland and get a few bites. But eventually, the reviews catch up with you, and you lose out. Be honest about where your rental sits. Market what is available: access to public transportation, quiet parks, sports arenas, theme parks, etc. only if they truly are accessible.
  • Consider hosting rather than leaving your home to strangers. That means you stay on the property while they are there. You’re in control of who comes and goes. Your renters can’t sneak in a dozen of their buddies without paying for them.
  • Make sure your HOA and municipality allow it. Many homeowners associations explicitly forbid subletting or short-term rentals, so if that’s your plan, read those pesky covenants, conditions and restrictions (CCR’s) before you buy. Municipalities also have codes regarding hospitality properties. Many require licenses, permits or fees, and some require occupancy taxes on the nights guests rent your home.
  • Your homeowners’ insurance coverage may not protect you from damage or liability when you’re using your home as a business. Talk to your insurance agent before you post your home online and pay the extra premiums to make certain you’re covered.

Before you decide to turn your home into a short-term rental, know the rules and the risks or the rewards may not be worth the trouble. Your real estate professional is your best resource for discovering properties in your area suitable for a short-term rental, so make that phone call today.

Single-Family – 291 Wachusett St. Holden, MA 01520 now has a new price of $505,000!

Beautiful Custom built 4 bed 3.5 bath Colonial in well established neighborhood! Front foyer welcomes you to this spacious home w/ over 3,000 sq. ft. of living space. Gorgeous Kitchen w/ new appliances, granite counters, center island & custom cabinetry. 24 X 24 Great Room has cathedral ceilings, fireplace & hardwood floors perfect for entertaining. Additional first floor features are laundry & 1/2 bath, den, 1st floor office or bedroom and sunny four season room with access to composite deck, above ground pool and private fenced in backyard. Master Bedroom has hardwood floors, walk in closet and master bath. 2 additional Bedrooms w/ hardwoods and full Bath complete the second floor. Additional living space in finished lower level w/ family room, second kitchen, and full bath. This stunning property is waiting for you to call it home!

This is a Colonial style home and features 10 total rooms, 3 full baths, 1 half bath, 4 bedrooms, 0.96 Acres, and is currently available for $505,000.

For complete details click here.

Open house on 1/12/2020 at 291 Wachusett St. Holden, MA 01520


Date: 01/12/2020 Time: 11:30 AM to 1:00 PM  
For Directions: feel free to contact me.  
For more information: click here for the full details  

Beautiful Custom built 4 bed 3.5 bath Colonial in well established neighborhood! Front foyer welcomes you to this spacious home w/ over 3,000 sq. ft. of living space. Gorgeous Kitchen w/ new appliances, granite counters, center island & custom cabinetry. 24 X 24 Great Room has cathedral ceilings, fireplace & hardwood floors perfect for entertaining. Additional first floor features are laundry & 1/2 bath, den, 1st floor office or bedroom and sunny four season room with access to composite deck, above ground pool and private fenced in backyard. Master Bedroom has hardwood floors, walk in closet and master bath. 2 additional Bedrooms w/ hardwoods and full Bath complete the second floor. Additional living space in finished lower level w/ family room, second kitchen, and full bath. This stunning property is waiting for you to call it home!

Condo Buying Tips: How to Handle a Tough Negotiation

Purchasing a condo should be fast and easy. However, negotiations with a condo seller can quickly become stressful and may put your chances to acquire your dream condo in danger.

Lucky for you, we’re here to help you simplify the process of negotiating with a condo seller to ensure you can purchase your ideal property.

Here are three tips to help you navigate tough negotiations with a condo seller.

1. Consider the Condo Seller’s Perspective

Think about the condo seller’s perspective and try to find common ground with this individual. By doing so, you and the condo seller may be able to agree to terms that meet the needs of both sides.

When you initially submit an offer on a condo, ensure your proposal accounts for the condo’s condition and the current state of the real estate market. That way, you’ll be able to avoid the risk of submitting a “lowball” offer that falls below a condo seller’s expectations.

Also, maintain open lines of communication throughout the negotiation process. This will allow you to listen to a condo seller’s concerns and respond accordingly.

2. Collect Plenty of Housing Market Data

If a condo seller believes you are unwilling to pay a sufficient price for his or her condo, it is always a good idea to present housing market data to back up your offer.

Explore the housing market closely to learn about the prices of comparable condos in nearby cities and towns. This will allow you to see how a particular condo stacks up against similar properties in terms of price and condition.

In addition, check out the prices of recently sold condos in your area to identify housing market patterns and trends. With this real estate market information at your disposal, you’ll be able to make an informed decision about whether to continue to negotiate with a condo seller or consider other properties.

3. Collaborate with a Real Estate Agent

A real estate agent will negotiate with a condo seller on your behalf. Therefore, he or she will help you minimize the stress and anxiety that is commonly associated with condo negotiations.

Typically, a real estate agent will submit an offer on a condo and wait to hear back from a condo seller. If a condo seller decides to negotiate, a real estate agent will work with you throughout the negotiation process.

A real estate agent will listen to your condo buying concerns and questions and respond immediately. He or she also will provide honest, unbiased recommendations to help you make informed decisions during negotiations with a condo seller. This real estate professional will even share your concerns with a condo seller to help you get the best results possible.

When it comes to a negotiating with a condo seller, there is no need to worry. If you collaborate with a real estate agent, you can take the guesswork out of condo negotiations. And ultimately, you may be able to move one step closer to buying a condo that meets or exceeds your expectations.