The biggest question from visitors to Possum Kingdom Lake: Why can't I find a house to rent for the weekend?!?!?! I don't want 5 rooms at The Cliffs hotel, I want to rent a home like I can in the mountains or at the beach!
"The reason there are no short-term rental homes at PK is because the covenants of the major developments like Sportsmans World or The Ranch restrict property owners from doing this," says Tim Hester, partner of Rawhide Vistas, LLC, and real estate agent for Jackson Real Estate. "We recognize there is a growing demand for weekend rentals at PK and are in a position to respond to the market. The covenants of Rawhide Vistas are written to allow owners of homes there to rent them out for a weekend, or a week, a month or longer."
Rawhide Vistas is the newest of several new neighborhoods slated within Gaines Bend. It offers fantastic views of the deepest water of PK Lake and is situated in close proximity to the new Gaines Bend marina. It is a master planned community with 4 model homes to choose from, each with different floor plans best suited for any one of the 25 lots. Pricing starts from $399K. The two existing model homes are for sale or you can purchase a lot to build one of the 4 models, or even purchase a lot now and build later.
Vacation home sales continue to rise, according to a recent article published by Austin-based HomeAway, Inc. "The market for vacation home sales in 2012 showed continued signs of strength, with a 10 percent increase in sales from the prior year." Major reasons for purchasing vacation home property: low real estate prices and the desire for a family retreat.
"And for nearly 8 in 10 buyers, rental income influenced their decision to buy last year and nearly all (92%) vacation home buyers plan to rent their property within the next 12 months. Approximately 60% of buyers believe they'll make enough rental income to cover at least half of their mortgage."
The article goes on to say, "interest in vacation rentals by travelers remains strong, and the speed and ease with which owners can list and rent a home online has never been more favorable, making it the perfect time to consider the purchase of vacation home."
Vacation homes provide folks with more personalized experiences and benefits, including more room to relax and added privacy, for much less the cost of traditional hotel accommodations.
With the planned amenities at Rawhide Vistas, owners and their renters will have full access to the marina, pool and hiking trails along the shoreline. The marina will have slips available for use on a short-term basis. Says Tim, "the new marina is set up so renters of Rawhide Vistas homes who have their own boats can dock in a covered slip for the duration of their stay. That is really convenient. There is nowhere at PK that offers that for visitors."
"We're trying to make Rawhide Vistas THE PLACE people think of to purchase their vacation home because of the ROI potential," says Tim. "Return on investment is a big motivator. If I weren't living there fulltime, I would definitely rent out my house on a weekend basis!"