Categories: BuyingPublished On: 12/21/20230 Comments on Tips For Buying & Owning a Deep Creek Lake Home30 min read

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Tips For Buying & Owning a Deep Creek Lake Home

Many people who love vacationing at Deep Creek Lake dream of owning a home someday. Putting your home on the vacation rental market can make the cost of a second home more affordable. Deep Creek vacation rental owners want to be sure their home rents well. There are essential things to know so that you can maximize your income. Location, amenities, and size should play a vital role in decision-making.

OFFERING THE RIGHT AMENITIES

We researched for you to know precisely what vacationers are looking for. We analyzed searches performed on our website for twelve months and determined that dog-friendly, private pools, private docks, and hot tubs are among the most popular amenities. Dog friendly, this is the #1 searched amenity, and it was included in 43% of searches. Pets are considered part of the family, & travelers are less inclined to bend them.

Private docks give summer guests their own space to enjoy swimming, fishing, and kayaking. Many guests bring a boat or rent one locally and prefer a dock that is not shared with neighbors.

Hot Tubs are a popular year-round feature and are why many choose a particular home.

Private Pools are well worth the investment if you have the space to add one. Indoor pools have an excellent return on investment since they can be used regardless of the weather.

Partial Week Summer Rentals have increased in popularity in recent years. A three-night minimum is a great option to increase the number of summer bookings for off-lake homes.

Ski Area is a designation for homes within 1 mile of Wisp Resort. A limited number of ski-in/ski-out properties lets guests know which homes are close to the slopes.

Air Conditioning is an expectation for many people. If you cannot get central AC, consider split systems or standing units for upper-level bedrooms that tend to get hot.

Pool Tables give guests an option for indoor entertainment and are popular with both families and groups of couples staying together.

Taylor-Made Elite Properties are held to specific standards so that guests know they are getting a property with desirable amenities, updated electronics, high-end decor, etc.

Outdoor firepits/places are a way to expand gathering space and have become sought after. You can go from basic to elaborate – essential will get the rental, and elaborate will bring them back. If you don’t have a big budget, consider investing in one high-dollar item that will attract guests and add little things like board games, cards, and books that can go a long way towards getting them back. Remember, wise choices in terms of amenities will pay off in the long run. Your home will be reserved further in advance, and satisfied guests will return.

LOCATION, LOCATION, LOCATION

If you have been a frequent visitor to Deep Creek, you likely have an idea of some of the more popular locations and the benefits they offer throughout the seasons. You will also want to keep your own needs in mind – do you love to ski, or is on-the-water fun more your style? Things to consider:

– Northern end lakefront homes do very well, but this is a busier area.

– Look at the body of water. Is it deep water, is it shallow, is it level, or does it have stairs? Is there a view?

– Do you have morning sun or afternoon sun on the dock?

– The lake’s Southern end is quieter, and the summer season tends to be longer.

– Lake access properties with views are some of the most sought-after in the shoulder seasons.

– If you buy off the lake, amenities and décor are vital in securing rentals.

Based on our data, a 5-bdrm home in the northern to central lake area can expect more than $50,000 in rental income with the right amenities & marketing.

NEW HOMES VS. OLDER HOMES

While new construction will always be sought after, older homes with the proper updates can be just as attractive and generate substantial revenue.

Our team can help you identify where your dollars will go further but here are a few quick tips:

– Paint should be fresh, and carpets should be clean.

– It is always a good idea to upgrade appliances, counters, and fixtures.

– Comfortable mattresses and pillows – bigger bed sizes are always better.

– 42-for bedroom TVs and 55″+ is acceptable for living area TVs, but 65-72″ is preferred.

– Provide seating in the dining area for maximum home occupancy.

– Offer a laptop-friendly workspace.

Most of our guests come from Pittsburgh, D.C., or Baltimore, and, in terms of quality, they want the equivalent of what they have at home or better. Flea market decor, cargo furniture, or box TVs should be replaced to give the house an up-to-date look.

KEEPING UP WITH PROPERTY UPKEEP

Just like your primary residence, home maintenance is a big part of owning a vacation rental. Daily, weekly, and annual tasks will keep it in tip-top shape and ready for guests. Routine maintenance items include:

– Deep Cleaning (twice a year is recommended)

– Carpet Cleaning

– Window Washing

– Ward Clean-up

– Inspecting docks and swing sets. or outside furniture for wear-and-tear

– Pressure washing and staining decks to prevent slippery surfaces

This is one of the areas where a vacation rental management company can be a valuable partner. We can take care of these items that can not only detract from your home’s appearance but also present a liability.

WE CAN HELP

There are a lot of variables to consider when choosing the right property for your family that is also marketable as a vacation rental home. That’s where we come in. We will put our years of experience and industry knowledge to work to help you work with one of our sales agents to make the night choice.

Learn more about Taylor-Made services by contacting Jodi Taylor Refosco at jodi@deepcreekvacations.com or 301-387-5999, ext. 1002.