If you enjoy spending long vacations with your family, chances are you often return to the same place each year.
It might be the place you went to as a child with your parents and siblings. Perhaps you even enjoy renting the same accommodation each time you go? Have you ever considered buying a second or vacation home there? If the area is very popular with tourists, the prospect of a hard sell can be off-putting. However, owning a vacation home can be a good investment if you buy it right:
Use Your Experience
You’ve bought and perhaps paid off your beautiful family home. It has taken years of blood, sweat, and tears to create the perfect pad to raise your kids. It’s been worth it though. It fits your lifestyle requirements and has become the center of many happy memories. Use your experiences of this property to carefully pick the vacation property that is right for you.
You’ve also had experience of the town or city you’re looking at. You know the eateries you love and the places where the kids have the most fun. You might even have spotted a property or two that took your interest. It is really important you carefully consider the exact position of any property that you choose.
Use Your Bucket List
Most of us have some wishes or bucket list items that we would love to have. But over time, those items can become essentials. Add them to your list of necessary facilities for the property. If you have the full details in front of you, then you can check them off when you’re ready to start viewing properties. If they don’t meet your requirements, then think carefully before you’re ready to make sacrifices or compromises.
You might be surprised at the number of differences between your dream vacation home and your current family home. You will have different needs on vacation. You might be down by the beach, so carpets wouldn’t be appropriate. Or if you’re by the lake, you might need a boot room to leave muddy footwear before you enter the main part of the house. A property for the winter would benefit from an open fire.
The Type Of Vacation You Want
The final thing to decide on is the type of vacation you want if you own the property you stay in. You wouldn’t need to pack as you can keep your personal items and essentials at the house. And you wouldn’t need to wait for the high season to spend time there. All year is vacation time when you own the place you stay in! Perhaps that is your intention? It might facilitate a long weekend on a whim, or a party pad for all your friends during the holidays. Owning accommodation here might well change the types of vacation you take.
If you’ve not been to your favorite area off-season, then why not try to squeeze in a visit before you buy? When you look at options like Winter Park real estate, then you need to be sure you’ve got plenty to keep you busy and satisfied during the summer too. Equally, any beach resort should have great winter walks and plenty of local amenities that are still open regardless of the weather.
Getting The Place You Want
By now you’ve clarified everything you want. You know where you want to be and narrowed your search down to just one or two neighborhoods. You know your budget, and you know what the property you want has to offer. If you’re ready to start looking for properties to suit you, why not make an appointment with a realtor or property agent? If you’re not sure who to contact, start with the people that let you their property when you’re on vacation.
Avoiding The Hard Sell
The problem with viewing and buying a vacation property is that you are on a very tight schedule. It’s difficult to coordinate several viewings with different people when you’re only in the area for a very short time. This puts pressure on you, and some agents will use that pressure to push you into making a decision. If you have any doubts, back away. There will always be other properties at other times. You’re not really in the hurry they think you’re in!
Price deals come and go. But if you are told this is a one-time offer and the discount only applies to today, it might be worth stepping away from the deal altogether. These are the common tactics of the hard sell. They make you feel you’re getting an incredible bargain and that you’ve got luck on your side that you happened to be there just at that moment. It’s nonsense. Don’t fall for hard sell tactics.
Falling In Love
Of course, there are times when you fall in love with a place straight away. It can be very tempting to put a deposit down and sign paperwork immediately. However, it’s still worth stepping away, talking it out, and checking the details again. Scrutinize the floor plan, and make comparisons to all the other properties you’ve seen. And definitely sleep on it! Your mind can make more sense of all the details and help you achieve clarity before you make your decision.
So far, you haven’t had a survey on the place. You haven’t thoroughly researched its history or checked out the owners. It is highly recommended you do all this before signing anything committing you to the property. This is, after all, an expensive purchase. You want it to be a good investment. And you want it to be the place where your happiest family memories are made.
It’s not always easy to step back and take a breath with a vacation property. You might already be wearing the rose-tinted glasses because you love the area so much. But until you know what you’re getting off-season, it’s difficult to really be sure about this kind of investment.
This is a collaborated post.