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Four Tips For Vacation
Home Buyers
By Kum
Martin
Vacation season is coming. It is the rush to find an
accommodation affordable at your favorite vacation spot. You may
have already considered buying a home there. But you probably never
made the first step. Maybe this year it’s time to stop dreaming and
take actions. Owing a secondary or vacation house has already
become a reality for a growing number of Americans. According to
the National Association of Realtors, vacation home sales soared by
20% in 2004, topping more than 1 million homes sold for the first
time on record. In fact, vacation homes made up roughly a third of
all second homes purchases. And this trend will very likely
continue. Indeed since baby boomers will begin to retire, studies
have shown than 30 million Americans will buy a vacation home
within the next decade.
In order to help to make a wise and great investment you should
follow a few steps. First you need to know your home-financing
options because it can make a big difference in getting your
perfect vacation home. Many homeowners are using the equity in
their primary home to finance their vacation investment. In terms
of financing you would better get approved for a mortgage before
you begin looking for a vacation home. Two advantages: you will
know exactly how much home you can afford, and it will make your
offer more attractive. Indeed with financing in place, the seller
or real estate will know the offer is good and will be more
confident.
After reviewing your home financing options, there are other
factors to think about. First you have to choose a home that fit
the needs of your family in terms of space available and
activities. Second is travel time. If your vacation home is too
distant from your primary residence, you may not visit it as
frequently. Two to three hours travel time is ideal. Third you have
to consider climate especially during the off-season. Some areas
that are warm in the summer can become very cold during the winter
months. At last take a look at the healthcare facilities. Why? It
is mainly because quality of healthcare should be one of your top
priorities if your vacation home becomes your primary residence one
day.
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