Airbnb hosts say the passive income gained through hosting allows them to continue to invest in the real estate market. Airbnb serves as an income that does not require trading hours for dollars; instead, this money can cover costs related to rent, or mortgage, with a minimal amount of time consumed. In taking the average monthly rent in major US cities, studies show that on average, hosts can cover more than 70% of their occupancy rate and room rate. This monthly income has an average of $924 per month, with a vast upward range of ~$10,000 per month for the more luxurious spaces. When these benefits are fully realized by hosts, they are likely to expand their hosting into new rooms and even new houses. Several hosts are profiled making upwards of $100,000, through several homes and rooms. One host in particular who is making $100,000 a year after costs, says that after purchasing his third apartment he will be able to pay off everything in five years to become a full-time host. Beyond the money itself, several banks now directly take into account Airbnb profit when helping guests refinance mortgage loans. Quicken Loans, Better.com, and Citizens Bank all take Airbnb income into account in certain refinance programs, which helps hosts achieve lower interest rates and makes it easier to pull from equity from their homes. For all these reasons, investment in the real estate market is a lucrative venture, especially in collaboration with Airbnb. Homeowners can make their money back and continue to grow their profits, all with minimal daily labor.
Airbnb is booming in Boston. 2018 set new Boston records in the number of visitors, and money brought into the city. 1.2 million guests visited in 2018, which is up from 2017's 893,200 guests. The revenue increased from $193 million in 2017 to $256 million in 2018. This upward trend furthers Boston buyer's interest in real estate investment.
Airbnb buyers regularly show a heightened willingness to pay on luxury apartments or homes. Listed below are several spaces for sale that would be perfect for an aspiring luxury Airbnb mogul's first purchase.
If you would like to provide the perfectly elegant Boston getaway for your guests, look no further than the stately 80 Seaver Street. Located deep in the comfort of Brookline, this Jacobethan manor has plenty of room, inside and out, for guests to relax and explore, for $6.5 million.
For the guest who wants to stay in a famous Bostonian brownstone, look no further than this six story Back Bay architectural showcase. This well-situated home is complete with a garage, yard space, and a beautiful rooftop patio overlooking the city. This purchase is located on 208 Beacon St., and sells for $2.695 million.
This ideal Boston penthouse allows visitors to get one of the best views that Boston has to offer, all from the luxurious and modernly decorated comfort of your own home. At 110 Stuart St., the home directly overlooks all of the Boston Commons, as well as the Charles River. For $5.199 million, do not miss the chance to deliver one of the most potentially luxurious Airbnb's on the market.