Lake houses are one of the first things that come to mind when someone thinks about a short-term rental. As a host, you may be considering renting out a property you already own, or looking to buy an investment property. As an often steady source of income, this blog post shares the best places to buy a lake house for your short-term rental business.
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Why invest in a lakehouse?
Lake houses are dependable. They offer consistent demand year-round. Who doesn’t love a lakehouse? They’re a great investment and a good way to step into the short-term rental industry. Plus, they can be a great vacation for your family if you want to pay a visit yourself!
Top 5 markets to buy a lakehouse
Here are the five best places to buy a lake house. Each is ideal for generating steady rental demand and significant returns from these scenic lakes.
1. Smith Mountain Lake, Virginia
Tucked away in the Blue Ridge Mountains, Smith Mountain Lake is known as the “Jewel of the Blue Ridge. With more than 500 miles of shoreline, it’s one of the most popular and desirable lake house destinations on the entire East Coast. There are a variety of prices in this region, but it is still accessible for a first-time investor. You’ll also find consistent demand from tourists in this locale.
2. Table Rock Lake, Missouri
Table Rock Lake in Missouri is located within the iconic Ozark Mountains. It is one of the most reasonably priced options for investing in a lake house. It’s a particularly popular spot for vacation for those hailing from the Midwest.
3. Lake Travis, Texas
Lake Travis is in the greater Austin area. It benefits from having the city amenities nearby, but still the charm and peace and quiet of a lake. Lake houses here also do well if they include pools.
4. Big Bear Lake, California
While a higher-priced market to get into, Big Bear Lake attracts guests year-round. Tucked in the San Bernardino Mountains, it’s popular both in the summer and with a wide array of winter sports that keep guests coming month after month.
5. Lake Chelan, Washington
How can you not love the rich, green nature of Washington state? Lake Chelan is also popular for its vineyards and luxury spas. As a result, you can expect some high spenders and potentially the opportunity for charging higher nightly rates.
How to choose the right property
Location, location, location. You need to choose the best location for a successful income. Consider the seasonal demand of the lake you’re considering. Additionally, look for amenities it either currently has or the potential it has for you to add on. Things like boat docks, outdoor patios, and fire pits are popular with guests looking to book a lakefront rental. Finally, consider the long-term costs of the home as well.
Marketing a lakehouse
Once you’ve got the property set up and running, you’ll need to spend some time marketing your home. Remember to highlight what makes your home special in the listing. Is it the panoramic lake views? Perhaps you have a boat launch. These are the things that make your home shine and should be shared.
Additionally, be sure you’re listing on multiple platforms. Have a direct booking website, and then list on sites like Airbnb, Vrbo, etc. Then, make sure you’ve invested in professional photography to get some killer shots. If you need assistance finding a photographer, check out the Airbnb Pro Photographer Program. Then, use those epic shots on social media for added eyes.
Final thoughts
Finding the best place to buy a lakehouse is just the beginning of your rental journey. Once you’ve found the golden spot, be sure to invest in great photos, utilize social media, and up the game of your listing description. With all of these things, you’ll be ready to go!
Host Tools provides an automated, unified calendar for short-term rental hosts, allowing you to seamlessly list on all major channels. Start your free trial today!
