Everyone with kids understands the importance of spending quality time with his family and one of the great ways of doing it is to go on a vacation with family leaving all work-related issues and worries at home because for a large majority of us, everything that we do is eventually for our family and if our work takes our attention away from them then what good is this work?
These are the emotional reasons which sometimes prompt us to buy our own sweet little vacation home where we can go and spend quality time with our families leaving all our worries aside.
However, when we’re in the market to buy a vacation home, it is important to keep certain things in minds because getting ripped off on a deal is not really a good idea.
Check your finances. You may want to buy the best beachfront condo in Florida but what we often forget when we plan such a purchase is whether we can actually afford it or not. Buying a beach house is not difficult as often there are vacation cottages available for sale and with right negotiations, you can save yourself a fortune. Just look at the vacation homes you can actually afford to pay for since it is not a business investment.
Check your finances – again. The cost of a vacation house is not just the money you’re going to pay up front, there are going to be many other costs involved if you really want to spend your vacations in your newly bought vacation home. Make sure you have enough money to pay for things like insurance, utilities and taxes once you’ve made the actual purchase. It’s better to have your back covered than to be surprised when the bills come.
Don’t reinvent the wheel. The idea of building your own holiday home in Florida may seem very tempting but this dream can turn out to be very scary very soon. There is going to be a lot of red tapes involved and you may have to deal with a number of commissions for approvals etc. so it is better to buy an existing vacation home than to build your own.
Real Estate Agent – the individual who can really make the difference. We like what we see on the glossy brochure or on the beautiful, albeit edited, photos on the internet but the reality could be entirely different from what’s available in the pictures. A local real estate agent could guide you and help you avoid the pitfalls many new buyers in the market make. Even if you’re purchasing a second vacation home, it is a good idea to have a local real estate agent on board.
A vacation home is for recreation, it is not a good investment. Be very clear about your reasons for buying a vacation home. If making money through rentals is what you have in your mind then there are many other investments which can make you more money with the same amount. If you’re buying a vacation house, buy it with your heart and soul and spend the quality time with your family you originally planned to spend.