Vacation Home - What to Think About Before Buying
At some point, vacationers may have thought of how much easier and enjoyable their vacation planning and trip would be if they had their own vacation home. However, there are a lot of important factors that come into play before taking such a big step.

For one, financial concerns often have a large role in these decisions. While some people may sink their money into a vacation home purchase, other people may want to rent a timeshare instead. The Lawrence Welk timeshares for rent provide a good gauge for the moderate to deluxe range of options available.

If you decide that you want to go ahead with buying a vacation home rather than rent, there are many things to consider beforehand, such as finding an advantageous community that permits tenants (if you chose that option), and then figuring out how you'll not only advertise for the place but deal with the renters.

Below is a list of things that you might want to think about before you go signing any deeds and packing your bags:

1) Is there room in your budget?
Even after owning and renting the vacation home for a few years, there's no guarantee that you'll have made back everything you spent on the purchase, furnishings, and upkeep. If you go into this renting out gig thinking that you'll not only break even but maybe get some returns as well, then you may have to brace for a disappointment.

2) Knowing the rules
As mentioned above, you will need to find the right community if you want to rent out. Some areas don't allow for this, or have set regulations that require you to go through them and even pay a percentage of the rent you receive just to keep tenants, so make sure to do extensive research - perhaps talk to some vacation home owners also - in the area you want to buy.

3) Cost calculation
Buying the home is only one expense for you as landlord/owner. Depending on the area you are in, things like kayaks, snowboards, skis, and more may have to be purchased, which is in addition to everything inside the house, right down to the nitty gritty such as toilet paper or cutlery. Also, don't forget insurance, utilities, condo or homeowners' association fees, and property taxes.

4) Figuring out how often you'll be there
If you aren't going the route of renting out your place, then you may want to ensure buying a vacation home that will not only be in an area you love but convenient enough to go there often. It doesn't do to buy the house and then let it collect dust for months of the year, making boring chores rather than fun be the first thing you have to do upon arriving for a vacation. In addition to this, consistently empty homes make for easy targets by thieves, who won't think twice before smashing into and vandalizing the home you worked hard to buy. Maybe ask a neighbor to get your mail or perhaps have them leave lights on occasionally so the vacancy isn't obvious.

5) Unforeseeable maintenances
Even if you can fake your way around potential robberies, you also have to worry about issues like water leaks or damages from natural disasters. Having strong shutters against hurricanes and a good, trusted handyman on speed dial can save a lot of headaches and unnecessary costs.

With these tips, hopefully you'll be able to relax during your vacation, which is what it's for!

1 comment:

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