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Old 02-11-2018, 10:46 PM   #1
Jean
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Default Vacation Home Considerations/Suggestions

We are considering buying a vacation home in the Winnipesaukee area on South side of lake/Gilford area but we are debating many things including whether to go for convenience of condo or townhome versus more flexibility with a stand alone home. We like the idea of low maintenance condo but we have large dogs so a private or fenced in yard would be more enjoyable. We also want to be able to rent several weeks a year to help cover costs and it seems like quite a few condo associations prohibit weekly rentals. For those who own your home have you been able to find affordable landscaping and snow plowing in Gilford area that would be significantly less than condo fees?
I'm also curious if water access or a pool is needed for rentals. We would prefer water access but it may not work for our budget (under 175k). Has anyone had success doing some vacation rentals at a house that doesn't have beach or pool access? If so was there anything special about your property or did renters just want a place to crash while enjoying the area? Also curious about success of rentals with just right of way to swim in water without a beach to spend day at?
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Old 02-11-2018, 11:20 PM   #2
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Renting to summer people without any water access (lake or pool) is not going to work. Really need to have one or the other, or both. Condo would be my choice if I were you....4 Seasons condos in Laconia offer pool & lake access close to your price range. My 2 cents....good luck
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Old 02-12-2018, 07:55 AM   #3
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Welcome to the Forum Jean.

$175K will not get you much in this area, certainly nothing with much appeal to summer renters.
This is a good search site:
https://www.beangroup.com/

On top left select lakes region from the search pull down. Good luck.
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Old 02-12-2018, 08:36 AM   #4
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If you don't have water rights or a pool you might be able to find something that is close to a town beach. That's probably going to be your best bet at that price range.
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Old 02-12-2018, 09:49 AM   #5
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Quote:
Originally Posted by Irish mist View Post
Renting to summer people without any water access (lake or pool) is not going to work. Really need to have one or the other, or both. Condo would be my choice if I were you....4 Seasons condos in Laconia offer pool & lake access close to your price range. My 2 cents....good luck
Do you know that 4 Seasons still allows weekly rentals? As the OP stated, many are going to 30 day minimum, which all but eliminates the opportunity for vacation rental income.
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Old 02-12-2018, 10:07 AM   #6
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Thank you for the suggestions and input. We will keep an eye out for listings at Four Seasons. Hopefully as spring approaches properties we will have more to pick from. Hoping to buy this year but we know it will be a challenge to find right property in our price range.
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Old 02-12-2018, 10:22 AM   #7
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Default South Down Shores

You may want to consider South Down Shores, given your price range. Very nice development, great amenities and well run.
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Old 02-12-2018, 10:26 AM   #8
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You also might try looking at Lake Winnisquam or Lake Oppecee, sp. You're still in the lakes region and close to everything but that would be a little cheaper.
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Old 02-12-2018, 12:26 PM   #9
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Default Lakes Region

Try looking at other lakes in the Lakes Region. Family grew up on Lake Winnipesaukee since 1892. Taxes are now outrageous and the family moved to lake Winnisquam. Cut our taxes in half and enjoy a much quieter lake.
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Old 02-12-2018, 02:21 PM   #10
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Quote:
Originally Posted by vmass View Post
Do you know that 4 Seasons still allows weekly rentals? As the OP stated, many are going to 30 day minimum, which all but eliminates the opportunity for vacation rental income.
I'm not sure if 4 Seasons still allows weekly rentals....they did in the past.
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Old 02-12-2018, 03:07 PM   #11
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I think the fact that there's a question about rentals indicates an issue with buying a condo--those bylaws can change fairly easily/quickly.

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Old 02-12-2018, 03:11 PM   #12
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Default What about The Weirs???

Nice beach. Some interesting places to walk to. Rent a boat. Go on the Mount, Sophie or Doris. Hang out at Anthony's. Fried clams at The Weathervane. House rita's at Crazy Cactus. Take the train ride. I THINK it remains one of the "more affordable" areas on the lake...Except for the pricey new condos up the hill.
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Old 02-12-2018, 03:42 PM   #13
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Quote:
Originally Posted by Jean View Post
We are considering buying a vacation home in the Winnipesaukee area on South side of lake/Gilford area but we are debating many things including whether to go for convenience of condo or townhome versus more flexibility with a stand alone home. We like the idea of low maintenance condo but we have large dogs so a private or fenced in yard would be more enjoyable. We also want to be able to rent several weeks a year to help cover costs and it seems like quite a few condo associations prohibit weekly rentals. For those who own your home have you been able to find affordable landscaping and snow plowing in Gilford area that would be significantly less than condo fees?
I'm also curious if water access or a pool is needed for rentals. We would prefer water access but it may not work for our budget (under 175k). Has anyone had success doing some vacation rentals at a house that doesn't have beach or pool access? If so was there anything special about your property or did renters just want a place to crash while enjoying the area? Also curious about success of rentals with just right of way to swim in water without a beach to spend day at?
As for the 'suggestion' part of your post:

If you do rent a few weeks a year, please make sure to include "pet friendly" in your advertisement. I would be as upset renting a place with pet dander as I would be renting a smoke filled home. I do love animals, but some in my family have allergies so it is a no go.
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Old 02-12-2018, 11:15 PM   #14
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I've owned, and rented, a Weirs condo, island property, and other "standard" rentals. With all due respect to Realtors, generally, if you need rental income to support your purchase, you can't afford it. If it is purely investment, seasonal is not the way to go. Better to buy a good investment and rent for a few weeks as a tenant for your own vacation.
The time to lease is when you have owned the property for a long term and you need a gap-filler until the next generation can afford to to take over and you can pass the place on.
An option we don't see here often: Lease a place for a few years and talk to the owner about an eventual buy-out.
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Old 02-13-2018, 06:30 AM   #15
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Quote:
Originally Posted by Descant View Post
I've owned, and rented, a Weirs condo, island property, and other "standard" rentals. With all due respect to Realtors, generally, if you need rental income to support your purchase, you can't afford it. If it is purely investment, seasonal is not the way to go. Better to buy a good investment and rent for a few weeks as a tenant for your own vacation.
The time to lease is when you have owned the property for a long term and you need a gap-filler until the next generation can afford to to take over and you can pass the place on.
An option we don't see here often: Lease a place for a few years and talk to the owner about an eventual buy-out.
Descant is correct.

Take whatever monies that you have set aside and invest safely long term for a retirement home. In warm weather areas.

Also if you are not a landlord presently then don't get into the landlord business. It's not all peaches and cream.

This past year I viewed a 1940's camp sell for over $ one million dollars only to be torn down and be replaced by an expensive monster home (a modest monster home though).

Aim your dreams in another direction unless you have an exceptional income or a nice inheritance fund.

Better yet. Find a rich relative and have them buy the house on the lake. Then visit often.
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Old 02-13-2018, 09:59 AM   #16
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Thank you all for the additional input and good advice. Unfortunately we don't have any rich relatives or friends so we are still hoping to be able to find something that we can enjoy with our friends and family. I see it as a long-term investment that we can enjoy in the interim and hopefully it will have increased substantially in value by time we retire. If not then at least we had something we enjoyed. We can afford to pay for it without rentals but given that we won't be there every week all summer some rentals would be ideal to decrease our costs.
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Old 02-13-2018, 11:38 AM   #17
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Quote:
Originally Posted by Jean View Post
Thank you all for the additional input and good advice. Unfortunately we don't have any rich relatives or friends so we are still hoping to be able to find something that we can enjoy with our friends and family. I see it as a long-term investment that we can enjoy in the interim and hopefully it will have increased substantially in value by time we retire. If not then at least we had something we enjoyed. We can afford to pay for it without rentals but given that we won't be there every week all summer some rentals would be ideal to decrease our costs.
Occasionally something will come up in that price range within walking distance to the town of Meredith but is not on the water. That's usually a good rental area because of all the activities that go on through out the year in Meredith harbor. There is no beach in Meredith harbor but there is a beach a short distance away on Lake Waukewaun.
There are also a lot of functions at Church Landing, weddings and such, that require people to find weekend rentals.
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Old 02-15-2018, 09:49 PM   #18
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Default Ready to be a landlord?

I came home late tonight, a Friday. A kerfuffle at one place where a tenant's son was arrested while she had been away for two weeks and he had been partying. Opened my email and another tenant, different location, had no heat. Both long term tenants with understanding. Short term/vacation tenant, I would have had to refund the rent and still paid for service calls on a weekend with overtime rates. I've owned these places for many years with no unusual problems, but if you're new to the business, be sure to have a few dollars ($5000) in your pocket if, say, you need a new furnace on short notice. $750-$1000 for a hot water heater, and, BTW, do you have somebody you can call for quick service? It's a lot easier if you are on first name, cell phone basis with plumber, electrician, carpenter, roofer, handyman, etc. even if you think you can do easy stuff yourself, sometimes you just can't be there in person.
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Old 02-15-2018, 10:47 PM   #19
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Default To offset concerns...

Descant legitimately and realistically raises, use a rental agency like Bayside Rentals, Meredith. From 3,200 miles away, I have replaced a water heater, water pump and tank, fixed a refrig door, have the trash picked up every Sat. morn. Cleaning crew comes in weekly. They find the renters. I have had everything fixed within a few hrs. max.

This year, I'm not renting for the first time in about 20 yrs. I'm going to enjoy the place myself...However, then I'll be managing rentals from 3,200 miles away from the other direction...Long term, however.
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