Many people are bedazzled by the idea of purchasing a vacation home; their own private place to go when they want to get away from it all. However, owning a second home that you only use part of the year isn't all champagne and roses. Here are two things you need to keep in mind when buying a vacation home to ensure you get a property to fit your needs and lifestyle.
Make Sure You Love the Area
Vacation homes aren't like timeshares. You can't simply swap places with another owner when you get sick of staying in the same area. When you purchase a permanent vacation home, you'll be going to the same place year after year. Therefore, it's critical you buy a house in a city or neighborhood you'll love for many years to come.
In fact, you should shop for a vacation home just like you did for your primary home. Make sure the city has interesting activities for you and your family to participate in. Meet your neighbors and make sure their people you won't mind vacationing next to whenever you go up. Investigate the safety and security of the area. The last thing you want is to purchase a vacation home in an area that's known to be a dumping ground for serial killers.
The Home is a Year-Round Responsibility
Although you may only be in the home for part of the year, the home is a full-time responsibility. In fact, unused homes have the potential to be even more of a maintenance headache than your primary residence because it may be months before someone discovers a problem with the property. For instance, a plumbing pipe may burst in the winter but you may not know about it until you go to the property for your annual summer vacation.
So it's important to come up with a plan to stay on top of the home maintenance even when you're not there. For instance, you could contract with a company to have someone check on the property at regular intervals to make sure everything is okay. Another option is to rent the home part of the year. This way, you have tenants who can help maintain your home plus make some extra money to help pay the mortgage.
There are many things to consider when purchasing a vacation home. Consult with real estate agent, such as from New Spirit Vacation Homes, about some of these challenges so he or she can help you locate a home and connect you to services that best fit your needs.
