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Unread 11-25-2008, 11:05 AM
 
16 posts, read 31,636 times
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Default Rental Potential ?

We're searching for a year-round home in NH that has rental potential. (Due to the nature of our work, we are away six months out of the year and plan to rent, through an agency, during our absence.)

We found two homes we like: one is in Moultonborough on Lake Kanasatka (371 acres); the other is in Alton, Halfmoon Lake (270 acres). Both are log homes in good shape, with over an acre of property (and low taxes), and equal walking distance (1/10 of a mile or less) to the beach, and 35-20 minutes, respectively, to Gunstock. The Alton home is approximately 700 sq.ft. bigger (2,700 total), with much bigger rooms and has a mooring. (And I'm assuming Alton has less traffic and is easier to get to?) The Moultonborough home is closer to the action that is Lake Winnipesaukee.

I imagine not everyone wants to be in the middle of Winni-mania during prime time, but I could be wrong. Anyone have any ideas which home/location may have better rental potential? Are there other lakes people seek to "get-away and relax"? Or is it Winni or bust?

We are open to other areas if a lakefront property on a small lake is more conducive to renting than beach access or proximity to Lake Winn (...even if the lakefront home is nowhere near Lake Winnipesaukee, i.e., Lake Horace in Hillsboro, or Balch Lake in Wakefield).

I know lakefront homes are ideal, and LW is a hotspot, but I don't think we can afford a lakefront property on the big lake that we like. We're looking at homes in the $300,000 ballpark (though can afford $400,000, if no re-modeling is necessary). For ourselves, we prefer semi-private wooded lots in a quiet area but within a reasonable drive to civilization; however, we need to consider the rental factor.

I appreciate suggestions as we are new to the area (though have been several times and are reading/researching).
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Unread 11-25-2008, 12:09 PM
 
Location: N.H Gods Country
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Quote:
Originally Posted by spoonful View Post
We're searching for a year-round home in NH that has rental potential. (Due to the nature of our work, we are away six months out of the year and plan to rent, through an agency, during our absence.)

We found two homes we like: one is in Moultonborough on Lake Kanasatka (371 acres); the other is in Alton, Halfmoon Lake (270 acres). Both are log homes in good shape, with over an acre of property (and low taxes), and equal walking distance (1/10 of a mile or less) to the beach, and 35-20 minutes, respectively, to Gunstock. The Alton home is approximately 700 sq.ft. bigger (2,700 total), with much bigger rooms and has a mooring. (And I'm assuming Alton has less traffic and is easier to get to?) The Moultonborough home is closer to the action that is Lake Winnipesaukee.

I imagine not everyone wants to be in the middle of Winni-mania during prime time, but I could be wrong. Anyone have any ideas which home/location may have better rental potential? Are there other lakes people seek to "get-away and relax"? Or is it Winni or bust?

We are open to other areas if a lakefront property on a small lake is more conducive to renting than beach access or proximity to Lake Winn (...even if the lakefront home is nowhere near Lake Winnipesaukee, i.e., Lake Horace in Hillsboro, or Balch Lake in Wakefield).

I know lakefront homes are ideal, and LW is a hotspot, but I don't think we can afford a lakefront property on the big lake that we like. We're looking at homes in the $300,000 ballpark (though can afford $400,000, if no re-modeling is necessary). For ourselves, we prefer semi-private wooded lots in a quiet area but within a reasonable drive to civilization; however, we need to consider the rental factor.

I appreciate suggestions as we are new to the area (though have been several times and are reading/researching).
Of the areas you listed i would probably pick Balch Pond. Thats a beautiful area.
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Unread 11-25-2008, 02:01 PM
 
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I've heard Wakefield is very nice (and has low taxes). We'll check it out on our next visit to NH.

Is Balch Lake, or Wakefield, a place people think to go for vacation or quick get-away? (I'd hate for our home to sit vacant for six months.)
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Unread 11-25-2008, 02:05 PM
 
Location: N.H Gods Country
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I would think that would be a good quick get away spot for anyone from the Rochester, Dover Portsmouth area wanting a littlr R&R. The lakes in Milton are nice also.
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Unread 12-06-2008, 06:36 PM
 
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If you buy a house on Glen Lake in Goffstown or on Lake Horace in Weare, Ill rent it long term...
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Unread 12-07-2008, 07:03 AM
 
Location: New Hampshire
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The more entertainment available that is local to your rental will be a strong pull and added value. Your right to consider a "Get-A-Way" for yourself. However, most visitors from our southern neighboring state love the get-a-way too but after a couple of days they will need something such as a restaurant or other amenity to round their vacation out.

I'm not saying that all renters are like this. Personally, I'd rather be "Out" but the meaning of "Out" is much different to a city or burb dweller than a good old country boy.

Good luck on your search...
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Unread 12-07-2008, 04:28 PM
 
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Quote:
Originally Posted by jthibodeau View Post
"after a couple of days they will need something such as a restaurant or other amenity to round their vacation out."

Is Alton close enough to Lake Winnipesaukee (or other area restaurants)? I believe it's about 20 minutes to LW central. I know there's not a lot in Alton (which is why we personally like it for ourselves, it's less congested) but is there stuff to do nearby or is it too far out of the way for vacationers?
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Unread 12-07-2008, 07:20 PM
 
Location: N.H Gods Country
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Alton Bay is part of Lake Winnipesaukee.There is plenty around that area to keep anyone busy.I'm pretty sure Alton Bay would be considered at one end of Alton and Halfmoon pond would be at the other end. Alton can get pretty crowded during the summer months. There are good resturants within a half hour drive in any direction. All the roads out of Alton are scenic and a nice drive. Thats a beautiful area.
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Unread 12-08-2008, 09:21 AM
 
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Originally Posted by Ken E View Post
Alton can get pretty crowded during the summer months....All the roads out of Alton are scenic and a nice drive. Thats a beautiful area.
I liked Alton because it seemed a little rustic and somewhat out of the way, but not too far out of the way. I guess I thought because of that Alton might be slightly less congested in the summer than some other places. I'm assuming Moultonborough would be a lot more crowded than Alton? I recall it being more developed than Alton.
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Unread 12-10-2008, 06:58 PM
 
Location: N.H Gods Country
2,067 posts, read 2,297,145 times
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Quote:
Originally Posted by spoonful View Post
I've heard Wakefield is very nice (and has low taxes). We'll check it out on our next visit to NH.

Is Balch Lake, or Wakefield, a place people think to go for vacation or quick get-away? (I'd hate for our home to sit vacant for six months.)
Which six months of the year would you be renting it out . If renting in your absence is a main concern. Some areas may rent out easier in the winter (closer to skiing ect.) For summer rentals most places on a lake or pond rent pretty easily. I regretfully had to rent out the log cabin i bought up there until i can sell my house down here.I had no problem renting it out. One ad in the Portsmouth paper got over 30 inquries. Good Luck
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