With summer around the corner, many people are thinking about the various vacations they have planned, whether that includes visiting national parks, going fishing, or even golfing. Many people find one place that they love each year because of their fond memories of it, so they purchase a summer home as a second home that they can return to. Below are a few tips to consider before buying a vacation home.
Location is Everything
This may sound obvious, but make sure you’re picking an accessible and practical location to purchase your home in before making the big move. Prior to home buying, consider an area that is accessible to everyone, especially if you have out of state family. If you have kids, make sure there are kid friendly activities to partake in during your elongated visits. Most importantly, make sure you are purchasing in a location that is in high demand during each season, so you can rent the property out while it’s vacant for additional income.
Home Buying Budget
When shopping for your summer home, look below your budget to avoid any financial strain. A summer home is supposed to be a bonus, not a detraction from your family and finances. Even if it’s not your dream summer home, you can always modify it down the road when you have a little more cash to do so. Making sure the home is economically friendly is important as well so you can cut costs on bills, especially if other family members will be using the utilities in the home on your dime without you being there.
Rent Before Purchasing
Before the home buying process begins, consider renting a place in the area you’re looking at to get a feel of what it’s like before making a big investment. Staying for a few weeks at a time will give you an idea of whether or not you’ll fully enjoy the location. Consider visiting during different seasons so you can understand the crowd patterns, especially if you’re considering renting your vacation home out while you’re not there.
Purchasing a vacation home is an exciting thing, as you’ll have a home away from home that you can create new memories in. Home buying can be stressful, especially when purchasing a second home on a budget. Follow the above steps, and you’ll be on your way to the vacation home of your dreams in no time! To read more tips about buying a vacation home, click here. To learn more about our master planned communities located in Southern Utah, click here.
