Spend Time
Jeff Adams Real Estate Seminar 8 tip buying a Vacation Home. Don’t even think of buying a vacation home until you have visited the area a few times. It sounds basic, but you better be sure you simply adore and can’t get enough of that beach town, village, before you commit to buying there, since you all be spending a great deal of your free time there in the future. Unlike hotels and timeshares, owning a vacation home doesn’t allow you the option to change destinations if your tire of the scenery.
All Your Costs
Just like your primary residence, you have to understand the total price of ownership including property taxes, insurance, and any other carrying costs. Remember, even when you are not there, you are still being charged for water, gas, electrical, trash removal and other maintenance services. Nothing ruins a perfect vacation home’ like being in over your head financially.
Every Day Vacation
For me, the entire first weekend of the season becomes an unrelenting spree of vacation home maintenance and repairs. In fact, a good number of your vacation days may spend at the local home development store. It’s a house, not a hotel, so it needs just as much year-round upkeep as your primary home.
Holidays Battle
Many popular vacation spots are areas that have a high season. For instance, in Florida, and in most ski towns, visits spike from December to February. This type of seasonality becomes a battle when the rental demand for your vacation home collides with the time frame you want to use it. So if you’re planning on maximizing your home’s rental income, be prepared to give up some of that peak-season vacay yourself.
Safety a Vacation
Check crime in the area on Trulia before you buy, especially if you are going to leave the home unoccupied for long stretch of time. A break in or other crime at your vacation home can be mainly frustrating when you are not around.
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