Even though you and your family will only spend a small amount of time at your vacation home annually, it is important to take your time and do the research before agreeing on the purchase of a home. A vacation home is an investment that can pay off in the long run. Here are some tips to remember while shopping for a vacation home.
Visit the Neighborhood Several Times
Location is one of the most important factors to consider when buying a vacation home. Unfortunately, some people discover after they have finalized the purchase on their home that it is not the ideal location. Any number of issues, such as noisy neighbors, tourists, and security issues, can make a vacation home's location less than ideal.
Instead of just visiting the home once during peak season, try leasing a home in the neighborhood and visiting several times before making a decision.
To get a clear picture of the neighborhood, try to visit during on- and off-peak seasons. You will not only have a chance to gauge how the neighborhood normally is, but you can check out the local businesses to find out what is available to you.
Do Not Forget Your Budget
The idea of buying a vacation home is having somewhere you can go to alleviate stress and relax. If you buy a home that is more than you can afford or at the top of your budget, you are only adding to your stress levels.
Before shopping, determine what is the maximum you can afford and the minimum you are willing to spend. When shopping, try to find homes at your lowest to middle price point. You can renovate the property to bring in the amenities you need and still keep the home at a reasonable price.
In calculating how much you can spend, you also need to factor in taxes, utilities, homeowners association fees, and insurance. You even need to estimate how much you plan to spend on furnishing the place. Since you are not going to be there full-time, you should also consider factoring the cost of having someone check your home on a periodic basis.
To find other ways to ensure you make a sound investment when looking at vacation homes for sale, work with a real estate agent in the area. He or she will be most familiar with the offerings in each neighborhood and can help you find a property that fits your budget and your ideas for a good vacation spot.