Home | How to make up to $3000 per week or more from Summer Vacation Home Rentals in PEI
How to make up to $3000 per week or more from Summer Rentals in PEIPEI is a vacation paradise. Beautiful beaches, warm water, friendly people and many activities. You can attend a ceildh, a maritime concert or variety show, go deep-sea fishing, swim, sunbathe, catch a play, partake of lobster at a lobster super, walk along the boardwalks, cycle the Confederation Trail, the bed of the old rail line that goes clear across the island and the list is endless. There are excursions of every interest and you need never be bored.
Many people come to PEI for the summer. From a short holiday to all summer residents, these visitors swell the population of PEI from 140,000 full-time residents to a population in the summer of over a million. All these visitors must stay somewhere while enjoying PEI and you could be one of those providing that accommodation with an investment in a PEI luxury home for summer rental to vacationers.
While you could certainly purchase an existing Bed & Breakfast or buy a large home to convert for the purpose, this might be a little bit too much work for the casual investor and we have another suggestion.
Michael Poczynek speaks on purchasing a luxury PEI summer home for vacation rentals and a home located in Sunbury Cove Estates that he recommends, 3 Stacy Lane.You can purchase a luxury PEI summer home and rent this one unit to vacationers from the cities of Canada and the US at prices up to a possible $4000 per week. You would be looking for a home with water frontage and the best returns would be garnered from a larger home with luxury features as your potential guests will be used to the best in their everyday lives and this is not a "roughing-it" experience for them. Basically they want accommodations as good as their home in a place like PEI, free from the hurried dynamic of their homes and lives.
You could look for a home to purchase in a waterfront estate such as Granville on the Water or Sunbury Cove Estates but wherever you purchase you will require a larger home, full featured chef kitchen or similar, all household necessities must be included (or purchased) from knives, plates to towels, tablecloths, you get it everything for gracious living as well as special attention should be placed on the bathrooms. They must meet the highest expectations including Jacuzzi tubs and possibly sauna. Outdoors you want shore frontage, perhaps a small dock, a swimming pool is an excellent feature, and certainly a children's' play area with jungle gym etc.
Call Michael Poczynek regarding
Prince Edward Island Real Estate
Call Ron Barrett regarding
PEI Real Estate opportunities
Call Matthew Mackay regarding
PEI Waterfront Real EstatePEI properties of this type may run as high as $500,000, however it is possible to buy a suitable PEI home for luxury summer rental as low as $300,000. Generally, as this is not your primary home, you will require 25% down which is between $75,000 and $125,000 depending on your price range. This means that you will be mortgaging from $225,000 to $375,000. In round figures your monthly payment will be from $1000 to $1700 per month based on best rate of 2.65%. Add property taxes, insurance etc and you are looking at a monthly cost of approx $2000 to $2500.
As there are 12 prime weeks to rent in the PEI summer home rental season and there are 12 monthly mortgage payments to be made this means that the cost of one week's rental is equivalent to one months debt service and costs. So if you can rent the two example properties, the $500,000 property at $4000 per week and the $300,000 property at $3000 per week you have cleared $1500 and $1000 per week respectively. This does not of course take into consideration that you can rent these PEI homes the other 9 months of the year, at a lower monthly rent of course, nor does it take into consideration equity potential gains as these PEI properties appreciate in value.
You may think that $4000 per week is a lot of money and would anyone pay that for a PEI rental home and holiday. Just divide this amount by 7 days. $571 per night for a PEI vacation home that is in all ways luxurious, that has facilities that allow the user to create their own meals if they wish, and that would accommodate 2 families easily, is not a lot when compared with the cost of hotels in larger centers which may be the alternative holiday that your guests would plan. You are providing an amazing get-away and a complete change of lifestyle for the harried executive from Toronto or Boston. PEI is a safe haven that they can bring their families to and not worry about what their children are up to.
So think about becoming a summer home investor in PEI. Remember that you do not have to be here during the summer, although obviously you would want to take your own holidays here and can even offset some of your profit for a long vacation stay on the island. The management of your property can be safely and confidently assigned to one of the PEI property management firms and we can help you engage such a service. Some of these companies even undertake to rent your property for you. They will keep your property safe in the winter and provide cleaning, gardening and maintenance service throughout the season.
Give us a call today and we can discuss your next big adventure!
May we respectfully suggest that you look at the following PEI Properties
36 MAE LANE , CASCUMPEC C0B 1V0Beautiful 3 bedroom grey brick exterior home at the end of a dead end road. On over 2 acres with 250 feet of waterfront with shoreline all reinforced to curtail erosion. Very quiet & private location with magnificent views of the water from 3 sides of the home. Large open living areas with interior being constructed of pine walls and ceiling. Floors are tamarack wood & ceramic. Two large bedrooms on upper level with en-suite baths. Large deck with hot tub. Fully developed basement w\ Rec room. Smoke and pet free home. Only minutes to all amenities. Also includes a 30 x 60 out building. Additional features include Central Vac, Sauna, Satellite dish & Boat access. This elite property is only 3 years old. Visit michael or don. (all sizes and measurements are approx). $499,000.00 More
3 STACY LANE , ST NICHOLAS C0B 1M0Buy at Builders Wholesale Cost! OCEANFRONT W/PRIVACY, VIEW OF CONFEDERATION BRIDGE & 2 Lighthouses! NEW LUXURY HOME W/3-CAR GARAGE, state of the art Geo-Thermal heating & A/C. Open Concept, 14ft Cathedral ceilings, main floor laundry, main floor office/den/library with pillars and large windows, 1000+ sq. ft. deck, huge master w/en-suite bathroom & Jacuzzi tub, private dining area, deck, & walk-in closet. Gas fireplace & LCD TV. Water view from every window. 15m from Summerside, 10m from Golf Course, 20m to Mill River Golf, and 20m to bridge. Located in PEIs hottest location Sunbury Cove Estates. Underground services, English style lamp posts, gorgeous landscaping, walking trails, high speed Internet, protective covenants, year-round management/snow removal/security/maintenance. Access only by 3Km private road surrounded by 100`s of acres of natural undeveloped land. $539,000 completely furnished for $3000-4000/wk rental. See 3stacy for more! GST appl. $449,877.00 More
64 CARROL ST , ALBERTON C0B 1B0Here is a beautiful 4 bedroom Ocean Front home that is located in the town but with the feel of the country. Very private treed property with 250 ft on the water. Exterior of home is brick and Cape Cod siding. The home`s style is Traditional English. Ample oak kitchen cabinets with island and water view from dining room table. 2 full baths, large living room with propane fireplace and garden doors out to side deck. Attached 2 car garage. Additional features incl Central Vac and Air exchanger. This is a very relaxing and private setting. Property will be surveyed at time of sale. (all sizes and measurements approx). Visit don or michael $549,000.00 More
85 RIVERBEND LANE , STANLEY BRIDGE C0A 1E0Executive waterfront home on a private 1.9 acre lot.5 bed and 4.5 baths handcrafted home with cedar shingle exterior.Large,open kitchen,dining rm and great rm overlooking water.Fully equipped birch kitchen with granite countertops,and energy efficient stainless steel appliances.Lrg cedar deck off main living area overlooking water surrounded by trees.Private deck off main level bdrm.Full daylight bsmt finished with 9’ ceilings.Private paved driveway with ample parking.Satellite TV and wireless internet installed. Private dock for swimming and deep water access for boating.Additional features include heat recovery ventilation system,integrated sound system,cherry hdwd flrs throughout with heated granite tile flrs in all bathrooms.2 propane fireplaces and high quality windows providing passive solar heat.Ceiling fans in all rooms superior insulation.Seasonal rental potential of $4000/week June-October. Mins away from famous Cavendish Beach,Anne of Green Gables,and numerous golf courses $895,000.00 More
80 STACY LANE , ST NICHOLAS C0B 1T0SUNBURY COVE ESTATES Possibly the BEST location in PEI! New Home to be completed – ready by the spring! OCEANFRONT W/PRIVACY, VIEW OF CONFEDERATION BRIDGE & 2 Lighthouses! Water view from every window. 15m from Summerside, 10m from Golf Course, 20m to Mill River Golf, and 20m to bridge. Located in PEIs hottest location Sunbury Cove Estates. Underground services, English style lamp posts, gorgeous landscaping, walking trails, high speed Internet, protective covenants, year-round management/snow removal/security/maintenance. Access only by 3Km private road surrounded by 100`s of acres of natural undeveloped land. $599,877.00 More
147 MORRISON LANE , NEW LONDON C0B 2M0This well maintained waterfront Cape Cod four bedroom home nestles on the 2.1 acre property overlooking the South West River and the New London Bay. The year-round home is clad with BC red cedar siding. The covered veranda wraps around three sides with a large open deck across the rear side. Panoramic views of the South West River and New London Bay can be seen from all sides. The property extends down to the edge of the South West River with mowed lawns, mature gardens and areas covered in natural grasses and wildflowers. The panoramic views include tidal river banks, farm lands, gentle wooded hills, sand dunes, ocean and wide open skies. The generous master bedroom has its own luxurious ensuite bathroom with a high vaulted ceiling, ceramic flooring, an air-jet soaker tub with ceramic tile surround and a separate shower enclosure. The cabinetry is ash. Pocket doors with etched glass inserts provide privacy. io doors lead from the bathroom to a private deck section $399,000.00 More
18 MCKENNA LANE , ST NICHOLAS C0B 1T0SUNBURY COVE ESTATES Possibly the BEST location in PEI! New Home to be completed – ready by the spring! OCEANFRONT W/PRIVACY, VIEW OF CONFEDERATION BRIDGE & 2 Lighthouses! Water view from every window. 15m from Summerside, 10m from Golf Course, 20m to Mill River Golf, and 20m to bridge. Located in PEIs hottest location Sunbury Cove Estates. Underground services, English style lamp posts, gorgeous landscaping, walking trails, high speed Internet, protective covenants, year-round management/snow removal/security/maintenance. Access only by 3Km private road surrounded by 100`s of acres of natural undeveloped land. $449,877.00 More
20490 SEACOW POND , SEACOW POND C0B 2B0Amazing private waterfront retreat! 4 bedrooms, 460` waterfrontage, open concept, amazing master bedroom complete with cedar lined custom closet. Marble tiles in ensuite. A nature lovers paradise. $499,000.00 More
87 MORRISON LANE , NEW LONDON C0B 1M0Inspired by the Island`s period homes, this unique 4 bedroom property successfully blends old-world charm with modern style and convenience. Its features range from classically-inspired, hand-crafted woodwork and window seats to modern in-floor heating. The home also offers a large, ensuite master bedroom with a walk-in closet, his and her sinks and a 2 person jacuzzi. Enjoy spectacular views from the property`s wrap-around deck overlooking the Southwest River, New London Bay, and surrounding countryside. Property was featured in an article in the New York Times for best views and decks in North America. $650,000 CDN or $575,000 US for more details. $499,000.00 More
5153 FRENCH RIVER , FRENCH RIVER C0B 1M0Live the dream in this one of a kind home. Home sits on 4 avres of waterview property, open concept, birds eye maple cabinets, in floor heat on ceramic areas, hardwood decorates the living and dining areas overlooking French River. Sit on the deck and enjoy tranquility. Walkout lower level is complete with rec room, 2 bedrooms, bath, den and storage area. Property has another house that is a rental and also has a wired 3 stall stable. You won`t be disappointed. $355,000.00 More
26 ROY`S LANE , AUGUSTINE COVE C0B 1X0Spectacular waterfront custom built home. One level open concept living, spacious dining and kitchen with stainless steel appliances, large breakfast island, window seat, master bedroom 2300 sq ft with large walk in closet, ensuite bath and deck facing the water. 2nd full bath adjoining other 2 bedrooms. Over 900 sq ft of exterior decking. Vendor will rent year round for $2500/mth $699,000.00 More
47 CALM WATER CRT , STANLEY BRIDGE C0A 1E0Exceptional 4000+ sqft,executive,waterfront home.240 ft.of waterfront on one of the best,if not the best recreation river systems on PEI.15 min sail to the world famous Cavendish sand dunes.Within mins to the islands best beaches and golf courses.3 levels with a walk out lwr level and access to a large deck from the main level.2nd flr has 2 lrg bdrms,2 baths,a 28x14 bonus room over the 2 car garage,as well as a balcony hallway which allows you to overlook the foyer and LR.Main level has fireplace and lrg vaulted ceiling with arched window allowing incredible natural lighting.Mst bdrm enjoys large walk in closet and private bath.Both it and formal dining area have tray ceilings. Breakfast rm,kitchen and DR very efficiently combined.Kitchen is a chef’s delight.Custom cabinets and granite counter tops.Beautiful view from all areas.Lwr level complete with 4th bdrm,bath,lrg bar area with stone fireplace, gym area and a rare 6 person sauna.Home has central air as well. $729,900.00 More
132 CAMPBELLTON RD , STANLEY BRIDGE C0B 1M0Absolutely stunning waterfront home which sits on 11 acres of gorgeous land. This home has a breathaking kitchen with ceramic floors, stainless steel appliances, marble countertop and wonderful woodwork. This spacious home also offers a double sided propabe fireplace, french doos, beautiful pine floors and more. This home offers large spacious bedrooms with an ensuite off the master bedroom. Sit out and enjoy your solitude on the lovely large deck facing the water. THis home also features crown moulding, a beautiful landscaped yard, a new foundation, and a large 2 car garage with an above loft. This home rents for $2500 a week in the summer. Close to beaches and golf courses. Worth a look. $599,900.00 More
12358 PLEASANT VIEW , PLEASANT VIEW C0B 1Z0Here is a very well built 4 bedroom home. Main level of home has large kitchen and living room with oak hardwood floor, trim and cabinets with an island. Nine foot ceilings, french doors and built in book cases. Large master bedroom with ensuite and walk in closet. Home has 2.5 baths, large main floor bath with laundry facilities. Lower level consists of large family room, 2 bedrooms, full bath and hobby area. Lights in closets, heat lamps in showers, underground hydro wires. A large finished garage/workshop tha tis wired, heated. All sizes and measurements are approximate. Call 859-1313 or 836-5036 $299,500.00 More
271 WINSTON BARLOW RD , ELLERSLIE-BIDEFORD C0B 1B0Exceptional quality and value in this executive 3 bedroom home situated on 3+ acres. Many of the rooms have cathdral or valuted ceilings. All bedrooms have bathrooms. Master bedroom has french doors to front veranda. 5 piece bath(whirlpool tub) all ceramic tiles. Kitchen 4 x 12 island, bleached maple cupboards, built in lights including very expensive light fixtures and fans, some recessed pot lights. Colonial doors and moulding, air exchanger, alarm system, breakfast nook, patio doors off living room. Propane fireplace, vinyl windows, water frontage in front & side of home. Could dock large boat at wharf next door. High end furnishings. Professionally decorated. michael $369,000.00 More
5262 BIRCH HILL RTE# 12 , BIRCH HILL C0B 1B0WATERFRONT!! Completely renovated from top to bottom and professionally decorated with 65.4 acres of waterfront!! Need I say more? Could this possibly be the best investment property in PEI? If you are looking for a large country home that is clean as a whistle, this is it. Potential for farming and development is a possibility. Waterfront is high quality and 1400` waterfrontage. Every detail is perfect in this home and all rooms have been redone. See michael Contact listing agent 888-3107 $399,000.00 More
629 Water St East, Summerside PEI C1N4H8 Phone: 902-436-2265
*All information in this article is believed to be accurate at time of writing. Readers should not depend on this information exclusively. Before acting on any information contained here you should seek independant legal and investment advise
