Buying a vacation home either in the US or overseas can seem like a dream, sadly, though it can quickly turn into a nightmare if you don’t pay attention to all the pertinent consideration before you sign on the dotted line. With that in mind, check out the information below that can help you pick the right place without any regrets.
Consider your needs
The first lot of considerations that you need to think of before you buy a vacation home is your personal needs. It is so vital to have a good idea of these before you start looking because it can be very easy to see something pretty and become distracted. Something that can result in you buying a place that isn’t at all suited for your family!
To prevent this give some serious consideration to all the things that you simply must have in your vacation home. Things such as disabled access, a ground floor position, a full family bathroom, a fitted out kitchen, and a pool are all common requests.
Of course, it will depend on the budget you have to work with and the place that you choose to buy your vacation home, as to whether these things are realistic, or not. To that end, it can help to order your requirements from the most important to the least, as then you will have a little wiggle room when it comes to making your final decision.
Consider how easy it is to get to
Next, a super important point that it’s essential to consider when buying a vacation home is how easy it is to get to from where you currently live. Yes, you could buy the most luxurious villa with a pool, but if it’s in a far-flung country that is difficult to travel to, then the chances are that you probably won’t get good value for money out of it in the long run.
In fact, before even considering a particular area in which to look at properties, is a good idea to check that flights run regularly from your nearest airport. Alternatively, if you are looking at places based in the US, check to see that you can travel there within a days drive.
Consider the type of property
The next key thing to consider is the type of property that you will be happy with for your vacation home and how this compares to what is on offer in your chosen area. For example in Malaysia, a Bungalow can be a cost-effective choice for a vacation property. While in France a city apartment or rural house may be the best use of your funds.
Remember here, that it is also important to once again compare the type of property on offer to your original needs. Don’t be swayed solely by a good location or price either, as you are only truly getting a bargain if you are buying what you actually need for a low price!
Consider the climate
Something else that it is also pretty vital that you consider before buying a vacation home is the climate of the country you are going to live vacation in. Many folks rate sun and warmth high on their list, although it’s best to check on things like humidity scores and rainfall as well as just temperature as you make your short list.
Also remember that while the idea of a very hot location may seem marvelous, especially if you live in a place that suffers from harsh winters during the rest of the year, it may not actually be all that practical in reality. After all, if you spend all that money on a vacation home and then can’t leave you are marbled floored, air-conditioned apartment for more than half an hour, you could end up pretty disappointed.
Consider the location
Location is, of course, essential when picking a vacation home. Although it’s not just the country or whether you will buy in the US that is important. In fact, the location of the property in relation to the surrounding area is also a vital consideration.
The reason for this is that the more facilities or feature a location has, the more expensive it is likely to be. This often puts families in something of a conundrum as to whether to go for something on the beach front, or close to local amenities, or whether to save money and buy something a little further away.
The beach front is always a popular location.
Of course, different solutions will work for different families. However, as it is primarily location that will affect the enjoyment of your vacation home while you have it, as well as the resale value when it’s time to move on, it can be useful to pay a premium now and reap the reward later.
Consider the costs
Last, but not least a major consideration for any family hoping to purchase a vacation home is the cost. The home you pick is something that has to be affordable to you. Otherwise, it is a false economy, and you could end up endangering your assets in this country to pay for it.
Cost considerations need to include the sale price of the property, as well as any fees that are particular to the region or the country in which you will be buying. To help you with this is it often useful to recruit a local real estate agent that can speak your native language as well as there own, as they will be able to explain any difference in the system to you, as well as negotiate effectively with local suppliers.
Also remember that there are often hidden costs when buying a vacation property abroad such as building tax on apartments payable for the upkeep of the whole block, as well as water rates, other taxes, and a variety of other fees.
These fees are, of course, on top of the costs of decorating and furnishing the property to a standard acceptable to you for your stay. This means that the total cost of a truly perfect vacation home can be a lot greater than it appears at first. Something that makes it all the more important to think about all the considerations listed above before you buy.