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Keller Williams City Life Realty

What You Haven’t Considered About Owning a Vacation Home

tropical-vacationWouldn’t it be great to own a place at the beach, in the mountains, or by the lake? If you are seriously considering buying a vacation home, you have probably weighed many of the pros and cons already.

But you should carefully consider everything before you buy. Have you taken these additional costs and benefits into account?

The Overlooked Costs of Homeownership

As any experienced home buyer knows, there are additional annual costs that come with owning a home, such as property taxes, home insurance, and any association fees.

Make sure you consider maintenance costs, as well. If you decide to rent out your property, you might want to invest in housekeeping or property management services. MarketWatch outlines a few additional costs you may face.

Additional Fun: Resort-Style Amenities

golf course at sunriseIn popular vacation destinations, you can purchase a second home in a resort community. This gives you access to a range of amenities that can include a golf course, spa services, swimming pool, and dozens of events.

Just remember, you may have to pay additional fees for these amenities.

It’s a Good Investment, But Not a Guaranteed Money Maker

Many vacation homeowners rent their property out to other vacation-goers as a way to earn extra money.

But, as US News & World Report points out, you may not always make money with your vacation home.

Location is Crucial

picking a locationWhen buying any property, whether it’s a primary or second home, location is one of the most important factors in your decision. When choosing a vacation home, consider how much time it will take to get to your home, whether you will need to drive or fly, and if you will be able to visit as often as you want.

You should choose a home that is close to your favorite vacation features (such as a ski resort or private beach) and close to the grocery store, major roads or an airport, and fun things to do.

We Can Help You Weigh Your Options

Investing in a vacation home can be a great decision, but it should not be taken lightly. We can answer any questions you have about finding, buying, or renting out a vacation home. Call us and let’s talk.

About Walter Burns

Walter Burns is a licensed New Jersey Realtor since 2002 and he specializes in luxury living in the hottest New York Metro area communities including the prestigious New Jersey Hudson River waterfront areas of Hoboken, Jersey City, Bayonne, Union City, Weehawken, West New York, Guttenberg, North Bergen, Cliffside Park, Edgewater, and Fort Lee. Walter's mission, desire, and goal is to assist all parties in accomplishing their real estate goals, as well as to empower his clients through exceptional service, creating extraordinary results. Having been mentored by several of the top 100 Realtors and Developers in the United States and Canada, he graduated from Rowan University and currently resides in Hoboken. Walter is part of Keller Williams City Life Realty. NJAR Circle of Excellence Sales Award, 2009-2018. Google

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