Tips for Purchasing a Vacation Home

The Huffington Post published an article about buying a vacation home. They highlighted 4 key tips that home buyers should remember during the home search. 

1. Location, Location, Location. This rings true for nearly all home sales. When purchasing a vacation home remember that you’re going to be on vacation while you’re living in the home. Keep in mind that traffic will increase on major roads, bike paths will get busier and community space can get crowded during the busy seasons. Do you want the convenience of being close to amenities or privacy of being further from it all?
2. Rental Potential. If you plan on renting out the home, consider the potential rental income. More bedrooms and space for entertaining often bring more a higher rental price. Locations close to the lake or towns can also be better for rental income. Decide how important renting the home is and speak with a skilled real estate agent who can give you a better idea of home rental values.
3. Figure Your Costs. Buying a vacation home can be an emotional experience. Work with a lender before beginning your house search to see what you can afford as interest rates for vacation homes may be a bit higher than primary residences. You’ll also want to include the cost for a property manager, house cleaners, snow removal and furnishing the home.
4. Take Your Time. There are few reasons that require vacation home buyers to purchase immediately. If you have time, take it. Check out homes in different areas, especially if you haven’t spent much time in the area to begin with. Talk with an experienced real estate agent to help determine what’s most important to you.

For more information about buying a vacation home in North Lake Tahoe or Truckee, give me a call at 530-386-0302. I’d be happy to help you find the perfect vacation home that fits your lifestyle.