Interesting. We mostly do vrbo or airbnb when we vacation if the vacation doesn’t involve camping. I have always wondered what the profit margin is. I imagine it is mostly about supply and demand but other factors are involved.
On our recent trip to Kauai had a few DM’s with the rep. She was picking my brain on suggestions for improvements because she said they were still feeling the effects of the pandemic and lack of travelers.
im gonna give you a quick glimpse into something, a lot of people asked me when I retired if I was going to go live at the beach, i said I couldnt afford it, they looked at me like I was crazy,, so here you go:
mortgage paid off: 290K
before utilities: quarterly COA dues 2575, occaisional COA assessments for unbudgeted unforseen cost that come up like elevator repairs or insurance cost hikes from too many hurricanes, H06 insurance which you have to have for inside your condo, the coa takes care of the building 1320 per year, property tax for florida 4219 per year.
so, just to live there, with no mortgage payment, you have to pay, $1320 per month .. your COA dues pay water and cable, you still have to pay power..
bottom line, there are probably better things to do with 290K ,, I just love the beach and get to go 4 or 5 times per year and what money I spend while there comes from my condo account. Plus, similar condos are now selling for 500K
