The vacation home market is booming! With sales and prices climbing, is it time for you to make your vacation home dream a reality?
Here are three questions you may want to ask yourself if you’re weighing a second-home purchase. The first: Is the commute from you primary home reasonable? The rule of thumb is about two to three hours. If getting to your second home involves more than two to three hours of travel, you really need to think about whether you’ll use the property enough.
Does the location of your dream home have peak seasons? If so, what happens during the off season? Is your home enjoyable and are there enough amenities available during the off season? Are stores open when the tourists are long gone?
Do you intend to turn your vacation home into a rental property? If you plan to rent out your vacation home at least some of the time, you’ll want to see if there are any municipal or homeowner’s association rules that restrict or bar short-term rentals. Another issue to think about are amenities. In some areas, the most successful rentals have hot tubs, fireplaces and scenic views.
Have more questions? We’re happy to help. Give us a call today!