A Vacation Home a Worthwhile Investment
For many, a vacation means a weekend at the lake, flying to a warmer climate, or even skiing in the mountains. However, as work schedules and economic conditions change, so are the definitions of a getaway. Purchasing a second home in the desired location of your dreams can be the key to your own “staycation.”
“If you’ve ever considered owning a second home, now is the time to get off the fence,” said Robin Peterson, president of Coldwell Banker Burnet. “With low interest rates and attractive pricing, your weekend getaway is within reach.”
Consider this advice when narrowing your vacation home search:
• Find Your Type. A second home doesn’t have to be a single-family property. Condominiums and townhouses in resort communities are an excellent alternative. They often come with a lower price tag, less maintenance and more recreational facilities.
• Making Financial “Cents.” Tallying up your anticipated expenses and factoring in any extra costs that your second home may incur prior to making your purchase can help stabilize your long-term financial standing. While a second home brings with it additional costs, the emotional and physical rewards that you will likely reap from it will far outweigh the costs.
• Location, Location, Location. Finding the perfect location that is easily accessible to you and your family’s favorite activities is key to the location of your home. Traveling a far distance takes away from your time that could be spent enjoying your new surroundings. So, you’ll want to consider all of your options consider the travel time involved.