Owning a beach house is a dream come true for many. The allure of breathtaking ocean views, the soothing sound of waves crashing against the shore, and the warm sand beneath your toes make it an idyllic escape. However, did you know that your beach house can also become a lucrative source of income? In this blog post, we will explore ten creative and lucrative ways to make money with your beach house, allowing you to enjoy both the serenity of the sea and the satisfaction of a well-padded bank account.
What If You Don’t Have a Beach House… Yet?
If you don’t have a beach house, the first thing you need to do is find one. If you’re looking at it as an investment property with multiple different ways to monetize it, finding the right property in the right place is essential. The kind of home you purchase may depend on the kinds of monetization strategies you want to use. When you’re looking at houses, there are plenty of questions to ask motivated sellers to help you get a great deal. You’ll want to know if it’s already been used as an investment property for instance and what ways were the most lucrative for the current owner. You might also ask why they are selling as this can give you important insights into whether there is any damage to the home.
Once you’ve closed escrow, here are some ideas for monetizing your Santa Monica Beach House:
#1: Rent Out the Space for Events Like Weddings
Your beach house can serve as an enchanting backdrop for weddings and other special events. With its picturesque location and charming ambiance, couples searching for a unique and memorable venue will flock to your beach house. By renting out the space for weddings and other celebrations, you can earn a substantial income while helping couples create lifelong memories. The great news about this strategy is that you can often make money while only renting out the space on the weekends.
#2: Offer Vacation Rentals
The demand for vacation rentals is ever-increasing, and your beach house is an ideal candidate to attract tourists seeking an unforgettable coastal retreat. By listing your property on vacation rental platforms, such as Airbnb or VRBO, you can generate consistent income throughout the year. Plus, you can set blackout dates so that you can still enjoy your beach house when it’s not in use.
#3: Organize Beach Yoga or Fitness Classes
Combine the tranquility of the beach with the wellness trend by offering beachside yoga or fitness classes. Many people yearn for the opportunity to practice yoga or exercise while enjoying the soothing sound of crashing waves and the refreshing sea breeze. By hosting regular sessions at your beach house, you can attract fitness enthusiasts and beachgoers alike, charging a fee for each class and potentially even establishing a loyal community.
#4: Create a Unique Co-working Space
As remote work continues to gain traction, professionals and digital nomads seek inspiring locations to set up their laptops. Transforming a section of your beach house into a co-working space can attract these individuals, offering them a serene work environment with breathtaking ocean views. Charging a daily or monthly membership fee can provide a steady income stream while fostering a vibrant community of like-minded individuals.
#5: Rent Out Equipment
Beach activities like surfing, paddleboarding, and snorkeling are immensely popular, but not everyone has the necessary equipment. Take advantage of this demand by offering rental services for beach gear. From surfboards and kayaks to snorkeling gear and beach chairs, providing these essentials can be a lucrative venture, especially during the summer months when the beach is teeming with visitors.
#6: Create a Beachside Pop-Up Shop
Embrace the spirit of summer and establish a beachside pop-up shop, offering a range of products that cater to beachgoers needs. From sunscreen and towels to souvenirs and beach accessories, a well-stocked and strategically located pop-up shop can attract both locals and tourists, boosting your profits during peak seasons.
#7: Host Beachside Dining Experiences
Food always tastes better with a view, and what better view than the shimmering ocean? Convert a portion of your beach house into an outdoor dining area or set up a temporary restaurant on the sand. Offer visitors the chance to savor delicious meals with a breathtaking ocean backdrop.
#8: Beach Photography Sessions
Capture the beauty of your beach house and the surrounding scenery by offering professional photography sessions. Many people seek stunning beach photographs for their social media profiles, engagements, or family portraits. Utilize the natural beauty of your coastal location to create captivating images that will leave your clients awestruck.
#9: Establish a Surf School
If your beach house is located in an area with great surf conditions, why not capitalize on the popularity of this water sport? Establish a surf school and offer lessons to aspiring wave riders.
#10: Consider Selling It and Keeping the Profits
Selling a property like a beach house can take time to ensure that you can get the best price for your property. You can of course sell your property through traditional means with a realtor where the buyer pays cash or gets a loan… OR you could consider seller financing. Seller financing is a great option when you are looking to sell the place, but still want to continue to earn money from it. By extending credit to potential buyers, you can expand your pool of prospective purchasers, making it easier for individuals to fulfill their dreams of beachside living. This arrangement enables you to generate long-term revenue while ensuring a steady stream of income through mortgage payments. You can charge a higher interest rate as well which only increases your profits each month.
