My family and I just returned from a much-needed vacation to Puerto Rico. We’ve been there before, but believe its a “hidden gem” for its affordability and beauty. We looked into going to Florida, but found real estate rentals to be much more affordable and on the white sand. For instance, most hotels in Florida go for about $250+/night in the month of March (i.e. spring break). Vacation rentals start at about $2,000/week inland at upwards of $5,000/week on the water. By comparison, a person can rent an amazing condo in Puerto Rico for about $1000-$1500/week with amazing view of the ocean and Spanish Virgin Islands (Culebra and Visques).
As I was looking into condo prices, for as low as $200,000 a buyer can purchase in a premium location with all the amenities in the States. When I talked to some owners, the majority of the units are rented out weekly for about 5 months of the year. As a result, the units pay for themselves with rental income while providing the owner a place to stay for vacation, not a bad deal at all! I think I will be looking into vacation ownership in Puerto Rico.. the benefits of the U.S. while being on “island time” and a cheap flight away.