We all need to take an occasional R n R, a culture that has taken over the world by a storm. Everyone is saving up and going on vacation, a culture that was exclusive to some cultures only a decade ago.
There is a new culture in town nowadays. Of late, people have discovered some places or cities are far more interesting than others and have a lot to offer, and they are buying second homes in those cities or places.
In case you have been considering or one day you want to buy a holiday home, here are 5 things you should consider when buying the holiday home.
1. Do Your Research About The Area You Are About To Purchase Your Holiday Home.
Its easy to engage an estate agent who is also dying to sell the property and get their commission. Truth is the agent won’t tell you everything about the area.
In some areas, cases of vandalism and theft are rampart and you wouldn’t want to repair the property every time you go on vacation, right?
2. Acquaint Yourself With Local Property Laws Before Committal
While the agent might be able to tell you everything about property laws what will happen when you want to renovate your home to suit your style and aura and you are told you need a permit to do so that will put you way off your budget?
Always know local property laws do not speculate or assume property laws are universal.
3. Before Making The Purchase Decision, Consider Maintenance Costs.
Excitement sometimes blur our thinking capabilities, while some deals might be lucrative when buying, maintenance cost might demand that you pay an arm and a leg which is obviously not ideal for anyone.
Be sure you are well aware of the maintenance costs before you sign the dooted line.
4. Don’t Forget Joint Ownership.
No one has time to lay idle in a resort place somewhere on earth for months on end except for the independently wealthy lucky ones. So, this means your home will be idle or not occupied for a long time. This opens up a door for another opportunity, to jointly own a home with other holiday home buyers.
This means you can jointly buy a holiday home and take turns to vacation at your property every year. This option might sound easy and lucrative but it also comes with its challenges.
Find a way to mitigate such challenges before you make a committal because you might be locked in a legal or social tussle for years, an ugly situation nobody wants right?
5. Consider The Prospect Of Letting Out Your Holiday Home During The Time You Are Not There.
A little bit more money doesn’t hurt anyone right. Holiday makers are always looking for great deals and you offering them such might put some coins in your pocket. This means your holiday home has to have attractive features like sea views, wifi, parking, easy access to road networks and or swimming pools tennis courts etc.
In this day of AirBnB you won’t go wrong.
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