Why Investing in a Vacation Home is a Great Idea
If you’re a beach lover and find yourself returning to our beautiful shores year after year, this may be the perfect time to invest in your own vacation property. Residential prices are reasonable right now and interest rates are still low. At this time of the year there’s less competition for the homes on the market. It’s a great time to invest in your very own vacation home.
By working with us at Litchfield Real Estate we can address any concerns you may have about purchasing a vacation property. We can help you find that ideal place. By pairing up with us you will have a real estate professional in your corner to guide you to the best vacation homes for investing in, homes that will serve as your family’s vacation destination for many years or that would also work well as a vacation rental home.
Tips to get you started:
1. If your family has a favorite location, that may be the perfect spot for your to purchase a vacation home. Decide if it’s really a place where you’d want to spend every vacation. Does it fit really well with your lifestyle and offer the recreational interests your family has?
2. Choose an appropriate size vacation home. It needs to fit your family and their comfort level as well as have accommodations for guests you may bring along.
3. Check your finances and your credit to see what you can comfortably afford to spend. Get pre-qualified for a loan if you need one. Know how much home you can purchase before you contact a Realtor.
4. When you meet with us we’ll discuss the criteria you want in a vacation home and set up some tours of properties that are on the market at this time.
At Litchfield Real Estate we are fully experienced in the real estate market in South Carolina. We will help you navigate through the available homes currently on the market. When you find one you like, we can do a market analysis on it to determine if the price being asked is appropriate. Sellers of vacation homes sometimes have inflated expectations, and buyers sometimes don’t realize the higher value a home may have if it's located by the water. Educate yourself and when you find that perfect property make your offer based on your research as well as the advice of your agent.
Once you’ve secured financing, your offer is accepted, and a home inspection done you will soon be the new owner of your own vacation home. Make plans during this time about how long you will spend in the vacation home. Will it be your full time residence or just a vacation destination? Do you plan on renting it out when you’re not staying there? If so, get names of rental management firms that can take care of maintenance, upkeep and rentals when you are not there.
Now is the perfect time to make an investment in real estate that will that will increase in value in the years to come. Begin now and you’ll have less competition for the available properties while getting a jump on the spring buyers who come out in droves as soon as the weather turns warm again. The less competition the better your chance of getting the best price on your new vacation home.
When you're ready to have us on your side, give Litchfield Real Estate a call at 800-437-4241. We look forward to hearing from you!
Posted by admin | Monday, October 17, 2016
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