House hunting for a vacation home is no small feat—there are things to think about like location, price, and how much use you’ll get out of such a large investment. These tips are sure to put you on the right path so you can enjoy the process and kick up your feet in no time.
Stay in your price range.
Looking at different vacation properties and seeing how luxurious some can be (not to mention the priceless views) can often lead to unrealistic expectations. Establish a budget, and stick to it throughout this process. Don’t look at homes you can’t afford, as this will only lead to disappointment.
Be sure about the location.
Buying a home—particularly a vacation home—in an area you’ve never been to can have the opposite effect you intended. Make sure you’re familiar with the town before automatically buying a house under the assumption you’ll love the area. Try renting a home in the area a few times before jumping right in and making the investment.
Do your research.
If you plan on renting out a property, research the rules on how often you can rent, and be sure to comply with any state and county regulations (homeowner’s association, city boards, etc.). The same goes for researching an agent who knows the market well and can guide you in the right direction on all things vacation home buying-related.