Millennial home buyers are choosing Orlando vacation homes to create a new source of rental income. They enjoy the benefits of real estate investment without the obligations that come with owning a home.
As renters, millennials also prefer to stay in vacation homes instead of hotels. Knowing what other millennials look for in a vacation home helps young real estate investors target this growing segment of the market.
Why Millennials Are Choosing Orlando Vacation Homes
Orlando and the surrounding areas offer a wide range of attractions that draw visitors from all over the world. This makes a vacation home the ideal investment for millennial real estate investors who want to purchase a luxury home that provides the highest return on their investment.
Younger home investors are choosing newer Orlando properties that require less maintenance, minimizing the demands that come with home ownership.
Millennials also make up a growing segment of vacation home renters. Young home buyers who understand what their peers look for in a home can take advantage of new opportunities in the rental marketplace.
The Evolving Real Estate Market
Many young home investors are finding it difficult to save money to purchase their first homes. As a result, more millennials are choosing to rent instead of owning property.
The advent of the “sharing economy” has fueled the use of platforms like Airbnb and VRBO to rent holiday homes. They offer a more affordable and convenient option compared to traditional hotels.
The evolving real estate market has led homeowners to share their properties with paying travel guests. This is especially true for millennial homeowners who want to reduce the lifetime cost of owning a home while maximizing the return on their investment.
Knowing What Millennials Want in a Vacation Home
Today’s vacation rentals include a wide range of home designs with features and amenities that appeal to travel guests. Millennials understand what holiday renters want, and choosing the right home in the right location is the first step in establishing long-term success as a holiday home owner.
Technology makes it easy for guests to find and book holiday homes, make payments, check-in and check-out, and communicate with property owners. Millennials are familiar with applications that make the rental process easy and add to the convenience that their homes can provide.
The design and feel of your holiday home play a major role in its appeal to holiday travelers. Younger homeowners prefer minimal home designs. If you’re targeting younger renters, keeping your home clutter free can add to the comfort it provides. Millennials also prefer homes that are energy efficient, recycle waste, and minimize the use of limited resources.
If you’re looking to purchase a home, a vacation rental can be a smart investment that reduces your cost and minimizes the time and energy required when owning a home. By renting Orlando vacation homes to travel guests, millennials create an additional source of income that supports their long-term financial goals.
Team Donovan specializes in helping today’s home investors buy and sell luxury homes in Orlando and the surrounding areas. We can help you find the home that meets your lifestyle and investment goals. For more information, contact us to schedule a free consultation at (407) 705-2616.
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