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Investing in a weekly rental cottage? Not so fast...

If you are looking for a vacation rental, look no further than Olde Cape Cod. However, if you are looking for a year-round rental, you are in for a long search. County-wide, almost 40% of homes are used asseasonal or second homes, and in some towns (like Dennis), the number is over 50%. Of these, nearly all are rented out on a weekly basis to the droves of vacationers that visit the Cape every year. This emphasis on weekly rentals leaves a huge market open for year-round rentals. Tight lending practices and low home inventory have characterized the Real Estate market over the last few years, leaving many homebuyers (especially first-time homebuyuers) in the rental market for longer than they would like. These are often highly qualified renters who are able to pay premium rates for a good quality home.

If you are considering buying an investment property here on the Cape, don't immediately assume it has to be a weekly rental. Weekly rentals are part of a highly competitive market with high overhead in the form of cleaning fees, brokerage costs, advertising, and utilities. Year-round rentals can prove an extremely wise investment both in the short- and long-term.

As always, if you are interested in buying an investment property on the Cape, give us a call any time to discuss your options. Whether it's a vacationor long-term rental investment, we are here to answer your questions and help you decide on a course of action that will maximize your investment and help you to meet your long-term goals.

We look forward to hearing from you!

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