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5 Surprising Costs to Prepare for When Buying a Vacation Rental in Athens

Over the last few years, generating additional personal income through individual or a handful of rental properties has become very popular. To help give you a better picture of what to expect, here are 5 surprising costs to prepare for when buying a vacation rental in Athens.

Mortgage and Escrow

A little familiarity with the average real estate transaction creates the expectation that you will need to secure financing through a licensed and reputable mortgage lender. 

While you may be used to paying your own mortgage every month, and even have dug into the specifics of what and how your charges add up, there are a couple of things to watch for when buying a vacation rental. 

First, expect the interest rate on the loan to be higher than advertised because this is a property that you will not be living in yourself. Next, if you are unable to make a full twenty percent down payment, it’s likely that any Private Mortgage Insurance, or PMI, will be greater than usual as well. This, of course, is no longer an issue once you have paid off the first twenty percent of the loan. 

The last detail to remember is calculating property taxes being paid into an escrow account – often through your lender. Don’t let these sometimes overlooked expenses put a damper on your rental property endeavors.

HOA Fees

Depending on where your chosen rental property sits, it could be part of a Homeowners Association. 

Any property you look into buying should disclose this early in the process, and you should be provided materials going over anything and everything regarding the HOA. 

One of the most important things to pay attention to is any HOA dues and their payment schedule. Being under an HOA also means rules and regulations that must be abided along with the likelihood that your involvement with the HOA would benefit you at some point in the future. 

Some HOAs can be a bit hostile toward rental property owners as you would be seen as an intruding outsider, and other HOAs may outright prohibit the existence of a rental property.


While your more immediate goal is to acquire a property with the intent to rent, you’ll want to plan ahead for any bills that may come your way from needing to generate interest in the property itself. 

There are a number of popular online platforms that charge monthly fees to help advertise rentals, and a quick search will give you all of the details you need. 

Some of these platforms handle online payment processing themselves but be sure to check out all of the stipulations in payment processing so you don’t find yourself without the ability to secure those interested in renting your home. 


Just like covering all of the bases on your own home, buying a vacation rental means purchasing additional insurance coverage. 

However, being a rental property that isn’t inhabited by you regularly this once again means it’s likely to cost more than what you’re used to paying for your own homeowner’s insurance. 

Have a meeting with your agent, explain exactly what your plans are, and get all of the necessary information from them prior to making any decisions. An official meeting also provides you with the opportunity to ask any questions.


If you’re a hands-on person who lives close to your rental property, taking care of it yourself may be what you were already planning to do. 

However, if you’re unable to be there on short notice, employing the services of a property manager, cleaner, or maintenance person could be required. Factor in any wages and benefits that could be needed along with supplies.

Help When Buying a Vacation Rental in Athens

When buying a vacation rental in Athens, contact our team to assist you at 706-426-1082!

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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