Tips for Your First Vacation Property

Buying your first vacation property is exciting. Whether you plan to buy a property as an investment or as a place to spend your vacations, there’s so much to think about. These six simple steps are a great place to begin. 

 

  1. Talk With an Agent You Can Trust: Our team knows the Jersey Shore and knows how to match you with the perfect condo or home. This is not the time to leave it up to chance, make a connection with an agent you can trust. This will help you to feel confident with your final purchase. 
  2. Book a Stay in the Area: Spend a weekend in the locale you’re considering. Get to know the local eateries, check out the beaches, and see if you like the feel. It’s easier than ever to find a rental online. Spend some time soaking up the area, to see if it’s where you’ll want to invest.  
  3. Lock in Your Budget: Knowing your budget beforehand will save you from disappointment in the long-run. Decide on your real budget before ever stepping foot inside a listing. You’ll be able to make an offer as soon as possible and can snatch up your dream listing before other buyers. 
  4. Consider Extras: It costs money to cover the extras in a vacation home. From furnishings to HOA fees and more, there are a handful of other items you’ll need to consider before deciding upon your final budget. Keep these in mind when you create a budget.
  5. Make a Maintenance Plan: Start thinking now of who will handle regular maintenance and minor repairs while you’re away. The sooner you come up with a plan, the easier it’ll be to execute it post-sale. Talk to fellow vacation property owners to learn who they use for their properties. 
  6. Do Your Research: Did you know that a rental property needs to have special insurance coverage? There are lots of aspects to buying a vacation home that need to be considered. Start your research from the outset, then you’ll be able to confidently move forward when the right home becomes available in your dream location. 

 

We can’t wait to help you move forward with the purchase of your first vacation property. Give us a call today to start the process. 

 

Photo by Julia Kuzenkov via Pexels.com.

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