August 9th, 2018

Best Practices When Buying a Vacation Home

Best Practices When Buying a Vacation Home

Many people spend their summers renting a place at the beach or mountains to getaway from the real world and vacation with family and friends. August is here and summer is winding down, but that doesn’t mean vacation time has to end with it. If you spent the summer daydreaming of a vacation retreat, it might be time to purchase something away from home for getaways like these. Buying a vacation home is easier than you might think and we are here to help you along the way.

When looking for a vacation home, it’s important to match your housing choice to your lifestyle. Do you love boating and water sports? Homes on a lake could be the answer. Are you currently living in a big city and can’t afford the yard space you desire? Look at large lots on the countryside. Constantly going to ski resorts to get your snowboarding fix? Maybe a house in the mountains is right for you. Regardless of where your new home is, be sure that you’ll be able to spend your time there doing the things that you love.

Another factor in making your decision on a getaway house is considering how much you’ll spend there. Take into consideration whether it will act as your primary residence, second home, or an investment property, as these categories can have an impacts post-purchase. Not only do they change how you will use and invest in the home itself, but they might also affect factors like financing and tax implications. Once you understand this, you can then get a better idea the total cost of owning the home including expenses like gas, electric, furniture, travel costs, etc.

At any point, it is vital to know the market conditions when looking to buy. The best way to know what’s going on in the real estate market is to work with a licensed professional who can act as your advisor. Licensed real estate agents like these are market experts, knowledgeable in the current economic climate, and will keep your best interests first and foremost. They will also help you understand the taxes, insurance, and other costs mentioned earlier. Helen Adams Realty is a member of the Enterprise Network, an exclusive group of real estate firms across the nation who share market trends and relocation services with one other. The Enterprise Network allows our real estate agents to place homebuyers in the area that fits their needs, no matter where in the country they may be looking. This means that when looking for a vacation home, Helen Adams Realty agents can help buyers find the perfect getaway regardless of location. Not sure where to start when looking for an agent? Our referral services manager, Jordan Nelson, is a matchmaker for potential buyers and agents. She’ll spend time getting to know you, your wants and needs, and your timeline, and match you with the best fitting agent at our firm or with one of our partners elsewhere in the country.

Finding a vacation home is an exciting process that doesn’t need to be intimidating. Planning ahead, researching market conditions, and matching the home’s location to your lifestyle will help make the search an easy one so that you can sit back and relax in your new home.