Luxury Vacation rental single-family home new construction

[Artem Pustovar]

Hi everyone. I am  general contractor and thinking to build my first vacation rental.

I absolutely unexperienced in field of short rentals I have several questions.

1. Is it important you have vacation rental in Nice area and the house to be similar to houses in the neighborhood?

2. I'm thinking to build SFH with 5 to 6 bedroom with all en suite master bathrooms 2500-3000 sf AC area with 2 car attached garage, swimming pool, large covered rerar porch and nice entertaining outdoor space. Budget is 700 to 800k including land with final market value about 1 million. Projecting daily rent $600-$1000 a night.

3. Is there any special platforms or I can get for plans for the houses which is specially designed as vacation rentals?

4. Does it make sense to build 5- 6 bedroom home for the purpose? My opinion that I can comfortably accept larger groups of people and maximize price per night.

5. I'm trying to figure out the best type and size of house I have to build in terms of ROI.

[Nathan Gesner]

You want a luxury vacation rental, but you don't know if it should be in a nice area???

Real estate is all about location.

You would probably be better off waiting for the market to cool, then buying something existing and fixing it up. I don't think it makes sense to build a brand new, luxury vacation rental when purchase prices and building costs are so high.