Things to consider when buying a second home
Whether you’re a mountain-lover or a beach-goer, getting ready to purchase a second home is an exciting time. However, you’ll want to ask yourself some questions before jumping into the process blindly. Consider these things before you begin the journey of finding your dream vacation home.
Hire an agent
Hiring a real estate agent to help find your second home is one of the most important things you can do, and should be your first step in the process. Your agent will make sure the homes you view are in your price range and have the qualities you are looking for. This will relieve stress, cut down time commitments and keep the process from becoming overwhelming. Remember, buying a second home should be fun, so be sure to do it right from the beginning!
Do your homework
Before beginning the vacation home-buying process, be sure to research, research, research. Find out all you can about the area you’re considering. The weather, the people, the available activities and the safety features, just to name a few. You’ll also want to consider the distance your retreat is from your main living space. While the drive may seem insignificant at first, make sure it won’t become unappealing when taking a weekend trip or traveling with family.
Be realistic
It’s easy to get caught up in the excitement of buying a second home. Before looking at homes, create a budget and stick to it. Try not to look at homes out of this price range, as you may find yourself comparing all other homes to the more expensive ones you have viewed. Don’t let spending beyond what you can afford for a second home add unnecessary stress to what should be a relaxing destination.
Think on your decision
Don’t jump in and commit to the first home you see. While most vacation homes will have some amount of appeal, make sure you consider all your options. Try not to get caught up in the initial excitement, causing you to make a rash decision you may later regret. No matter how sure you are of your choice, take some time to think about it and talk it over with friends and family. Also, if possible, make sure you spend some time, maybe a weekend, in the home to gather the full picture of its livability.
Consider how you will use the home
Will you be renting out the home during the time it’s not being used? Will you visit the home only during peak seasons, such as ski season or during warm weather? These are all things to think about when choosing your home. While you may not plan to initially use the home in one way or another, it is possible to change your mind. Make sure the home has the features necessary to keep all your options open.
Think about home maintenance
As with most homes, maintenance needs are inevitable. However, with vacation homes, these needs may be heightened since it will not be used all year-round. Will you need someone to regularly check the home for problems if coming to and from is not time-efficient for you? Will the upkeep needs be worth your money, time and patience? Consider all aspects of what goes into keeping your potential home looking great and working properly.
If you would like more information about purchasing a second homme or to speak with one of our agents, please give us a call at (205) 969-8910 or visit www.arcrealtyco.com.
