Using AirBnB To Make Travel Pay For Itself
Over the last few years, tools like AirBnB have been becoming increasingly popular. Enabling people to find affordable accommodation across the world, they have made it much easier for anyone to find themselves travelling. Of course, though, when you have a system like this, there are usually ways to take advantage of it beyond the normal approach. In the case of AirBnB, the right set of actions could see you vacationing for the price of the food and drinks alone, making it worth reading this post to see exactly how you can do it.
Finding A Place Of Your Own
This process has to start by looking for a place somewhere desirable to holidaymakers which you can purchase a property in. A transaction like this will never be small, and a lot of people will have to get a mortgage to do it, but this will be worth it once the travel train has left the station. Of course, you will have to put a lot of effort into this, doing more research than it takes to buy a property at home. There are loads of blogs, businesses, and other websites which can help you with this side of the job.
It’s always best to look for property in a place which people will want to visit all year round. Singapore is a great example of this, as people won’t go there for the weather, instead travelling to see sights and attractions which aren’t impacted by the time of year. Getting yourself a Townhouse in Singapore doesn’t have to be an expensive process, with loads of options available which are nice and affordable. This is the first stage in using AirBnB to pay for your vacations, but you’re still a long way from being completely done.
Getting Enough Bookings
Once you have a place away from home, you will be able to start focusing on getting it making some money. This is where AirBnB comes in, giving you a great platform for this sort of business, while also enabling you to get more money out of it than you would simply renting it to normal tenants. Whatever you get from this, it should be more than the mortgage you have to pay. This makes it much less worrying when you have a week without guests, as you won’t have to focus on keeping up with payments as you receive them yourself.
While it isn’t exactly common practice, there isn’t anything stopping you from advertising your AirBnB post a little bit. Social media is perfect for this, as it enables you to reach out to people without having to spend any money. Joining travel groups, posting with clever tags, and talking to the right people will all go a long way when you’re trying to get enough people in and out of vacation accommodation. Of course, though, you don’t want to spend too much time doing this, as this will make the payoff feel much less free.
Affording Your Own Breaks
A big part of the reason that you’ll be charging more than the mortgage for people to stay in your AirBnB accommodation will be to build a pot of savings which can be used to fund your own breaks. This is where the real fun starts, and where a lot of people slip up. It can be easy to spend the money which is supposed to be for your travel plans long before you are ready to use it. This can make it hard to save enough to afford a decent trip, making the whole process pointless. To combat this, being strict with your finances is very important.
If you’re not able to save much from your property rentals, you will still have the chance to use the money for travel. Websites like AirBnB make it very cheap to stay in accommodation across the world, and you’ll already have somewhere overseas which you can still use, making it easy to get your hands on somewhere to stay. Coupled with options like Skyscanner, which can tell you when to buy the cheapest flights, you should find it very easy to kick off your next vacation without having to spend a fortune on it.
Keeping The Cycle Moving
Ideally, you won’t have to skimp and save with the money you make from your AirBnB property. In a lot of cases, people make a lot more than they expect from ventures like this, especially if they are able to keep their place filled for most of the year. If you want to move further with your investment, though, you will need to be able to show restraint with your newfound income. As time goes on, you will gradually save enough for another deposit, enabling you to get yourself another place. This is a great approach to take, even if you just want free breaks.
With enough saved to get yourself another property, it will be worth doing some more serious research to find the right location for it. You will have a lot more experience than you had before, giving you the chance to look at the whole thing with clearer insight, while also helping you to make the right choices. Of course, though, as time goes on, you will probably want to keep expanding, making it matter a little less how well you spend your money, as long as you’re aware of the risks.
Hopefully, this post will inspire you to start working towards enjoying free vacations off of the back of a site like AirBnB. A lot of people are using services like this, nowadays, and the market is booming for those who are able to find a good property to rent out. A big part of the success people find in these places comes from their ability to present the property well. If you ignore this area, you will struggle a lot, making it important to keep on top of having people go to clean it and making good posts for it online.