Investing in Ocean City Vacation Rentals

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With mortgage rates at record lows, is now the time to pounce on a second home?

Perhaps.

The Baltimore Sun points to Ocean City vacation rentals as prime investment properties, where a Builders Closeout at 4201 Coastal Highway will lure bidders at an auction on July 31.

The properties come with the standard amenities, including in-unit washer and dryers, granite countertops and balconies for admiring the water views. The blogger thinks that the condos could have been hotel rooms at one point.

As a tourist destination, Ocean City consistently performs well, as New Englanders and Mid-Atlantic residents flock to its clean beaches, family-friendly boardwalk and moderately priced lodging.  A group of 11, for example, can stay in the featured five-bedroom condo for $2,899 a week for the remainder of July. For the conveniences of your own kitchen, crabbing pier and indoor and outdoor pools, you’d be hardpressed to find a hotel that does it better.

But before you go applying for loans, ask yourself whether the true motivation behind your purchase. If you’ve studied the area and spent time there, owning an investment property could be a sound choice. Ask yourself that age-old question: Is this a need or a want?

Regardless of your final decision, a fact-finding mission is always a wise first step. If it means going on vacation (again), we’re all for it.

Posted in Beach vacations, Family vacation spots, Mancations

About Valerie

Valerie Moloney is your resident blogger and the Expansion Markets Editor for Citysearch.com, who oddly enough, feels panicked when asked, "What's the best place to eat in Chicago?" or her favorite, "It's my birthday. Where should we go with a party of six?" No stranger to travel--and traveling with kids--she is a young mom who ODs on the Internet when it comes to planning family trips or buying clothes. Here's hoping she finds you the vacation you deserve.

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