Tips on Buying a Vacation Home

vacation home

Vacation Home

Make wise decisions in choosing the perfect home for your family vacations. These tips will help you on your way to creating some wonderful memories.

By: Sharon Fuller

Everyone would like to have a relaxing place where they can go to get away from it all. Having time to unwind in beautiful surroundings can be a wonderful pick-me-up. One way to make this happen is to buy your own a vacation home. This can be a lovely place in a luxurious locale that will provide the perfect getaway from the chaos of everyday life.

Boomers are perhaps in the best position to consider a purchasing a vacation property, especially retirees who have paid off their mortgage and have savings to invest, plus time on their hands. Here are a few useful tips to help you in acquiring a wonderful home away from home.

* Choose the Right Location

You will want your vacation home to be in a location that will be relaxing and enjoyable for you. If the beach is your idea of heaven on earth, choose a home that is close to sand and water. Should the mountains be more your style, then make certain that your vacation home is a lodge that has a birds-eye view of spectacular mountains.

* Try Before Buying

If you have a vacation home in mind but are not certain that it is just what you want, rent it first and try it out. You test drive a car before buying it, and you try on shoes and walk around the store in them before making a purchase. You also need to test out your prospective vacation home to see if it will fill all of your needs and has the proper “fit”.

* Check Out a Number of Homes

When shopping for a vacation home, you should check out several in the general area. Do not limit yourself to your first choice, as another home may turn out to be even better. You want it to be just right for quality vacations.

*Consider a Timeshare

If you make your plans around the same time every year and do not mind sharing the rights to use a home with others, a timeshare may be a good option. You are not investing in the home as much as you are investing in quality time with your family.

*Make it Affordable

Your vacation home needs to be a place you can afford. If you will have to struggle to pay the mortgage, then it defeats the purpose of having a nice, relaxing place in which to spend your downtime. Choose the type of home that will be enjoyable for you and the entire family. Remember, though, to keep it in your price range. You do not want your vacation home to become a financial headache.

* Consider Renting

If you would like your vacation home to make money for you when you are not using it, consider renting it during the off months. You may want to make the rent about 20% higher than your monthly mortgage payments.

The right home in the proper location can be a comfortable and welcome haven from responsibilities and job commitments. Make wise decisions in choosing the perfect home for your family vacations. The above tips will help you on your way to creating some wonderful memories.

About the Author:
Sharon Fuller and her family have enjoyed some good times at the Ritz-Carlton Destination Club and is looking forward to a well-deserved vacation later in the year.

Photo: swizzle co