Real Estate Information |
|
Buying a Vacation Home
You'd like to buy a vacation home, but you're not sure where to begin. Perhaps the single most important point to determine up front is why you are buying a vacation home. Are you trying to generate income by renting the property? Would you like to have a place to take your family every year that will likely appreciate in value? Would you prefer some flexibility in location and like to vacation at a different spot each year? Once you determine your needs in a vacation home, it is wise to understand some of the options available to you in buying a second home. Probably the most straight-forward is to consider purchasing a home outright. If you can't afford the full price of homes in the area you desire, there are still a couple of options available for you. One is to consider purchasing a home with friends or family, while another is to look into timesharing. All these options have nuances to consider in relation to your needs and means. By purchasing the home yourself, you have the most control over the property and can capture all of the gains and benefits associated with owning real property. You may also be able to offset some of your expenses by renting out the home in peak seasons. Be sure to investigate federal income tax laws so you can make the most of any potential tax breaks. Also ask about zoning, covenants, land use in areas surrounding your property, and property management fees. In some areas these restrictions may prevent you to use your property as you wish. Additionally, be prepared to pay as much as 25% of your rental income in property management fees for weekly rentals. If you decide to purchase a home with friends or family, make sure to put the agreement and all terms in writing. You may want to do most of this in advance as many homes go quickly and it will help target your search to the right kinds of homes. You may also want to consider homes with features that allow all the owners to be at the home at once (multiple masters, separate living spaces, etc). Again, the questions and concerns above should be considered. If all this is too complicated, inflexible or expensive and you've come to the conclusion that timesharing is right for you, be aware that a timeshare purchase is not an investment. Most units depreciate over time and the resale market is tricky to navigate. If you are buying with a resort developer, make sure they are financially stable. Also be sure to find out what they offer for buying through them as opposed to the resale market. At times, the resale market will offer the same unit and season at a fraction of the price the developer is offering. You'd also be wise to arrange for your financing in advance, as developer financing is usually offered at above market rates. Lastly, don't buy on a whim. You didn't buy your primary residence that way, and you shouldn't buy a second home without due diligence. Research the location. Make sure the area has the amenities and recreation you desire, allows you to use the property as you wish, and is within your budget. Reid Colson is a Principal in Bridlewood, a custom home builder serving the Central Virginia market. Bridlewood builds custom homes and vacation getaways for discriminating buyers. They are committed to providing the highest levels of professional service and consistent communication throughout the design and building process. Visit http://www.bridlewoodproperties.com for more information.
MORE RESOURCES: Prologis Warns of Slowing Industrial Real-Estate Market The Wall Street Journal Office market collapse: Commercial foreclosures spike 117% in a year Business Insider 21 Largest Real Estate Companies in the World Yahoo Finance Big Tech Is Downsizing Workspace in Another Blow to Office Real Estate The Wall Street Journal Inked: Recent LI real estate deals Long Island Business News Motley Fool: Investors could trust real estate The Spokesman Review Real Estate Minute – 04-18-2024 KFDX - Texomashomepage.com TikTok’s Origin Story: Court Files Show Role of GOP Megadonor Jeff Yass The New York Times Blackstone Earnings Rise as Investment Giant Projects Commercial Real Estate Recovery - CoStar Group Real Estate Balance Announces Chair CoStar Group Real Estate Briefs | April 19 | News, Sports, Jobs Cape Coral Breeze Real Estate Transactions: April 19, 2024 The Recorder Real Estate: Q1 2024 - Coronado Real Estate Market Update Coronado Times Newspaper Southeastern Wisconsin industrial real estate market softens in Q1 BizTimes Milwaukee Inside PROFILEconnect 'A Night at The Museum' Real Estate Impact Conference at the Coral Gables Museum PROFILE Miami Google's Strategic Job Cuts Reflect Ongoing Cost-Cutting Measures, Affecting Real Estate and Finance Departments Yahoo Finance Bronx real estate sales drop across the board, though spring market may be more active: report – Bronx Times Bronx Times S.F. housing market: Still very few homes, selling even faster San Francisco Chronicle 'A Man in Full,' starring Jeff Daniels as an Atlanta real estate mogul, dropping May 2 FOX 5 Atlanta Inside Savannah Homes: $6.475M Historic Monterey Square home Savannah Morning News Will It Be a Pricier Housing Market in Spring 2024? Norada Real Estate Investments EquityMultiple Bullish on Industrial Real Estate Sector, Brings Opportunity to Individual Investors Newswire Mixing real estate & renewable energy to help build greener world NoCamels - Israeli Innovation News The Real Estate Top Performers share tips for buying or selling a house in today's market! WUSA9.com Why you might not need a real-estate agent when buying a home Business Insider Blackstone Real Estate Earnings up 15% in First Quarter The Real Deal AI in real estate discussed during virtual forum Westfair Online Shelter Island Reporter real estate transfers: April 18, 2024 - Shelter Island Reporter Shelter Island Reporter WHO?! This Southern Utah Town Is A Real Estate Hot Spot! Cat Country 107.3 and 94.9 Palm Beach home-sale median price up sharply, new Q1 reports show Palm Beach Daily News 'It was surprising.' Metro Detroit man caught up in real estate scam; here's how to protect yourself My TV20 Detroit Boise Real Estate Market Steady Amidst California's All-Time Low KIDO Talk Radio High Country Real Estate: First Quarter 2024 High Country Press Celebrity real estate agent Mauricio Umansky explains when housing prices will come down Fox Business Tiny California home the size of a hotel room will sell for 'considerably' more than its $1.7M asking price New York Post ‘It doesn’t smell right.’ Michigan councilman linked to $69,000 marijuana real estate sale MLive.com Real estate: Buyer’s agents’ role in today’s real estate market Main Street Media of Tennessee Will Hilton Head real estate pricing rules change this summer? Here’s what’s in play Hilton Head Island Packet Real estate mogul concerned how Americans will deal with squatters: ‘Something really bad is going to happen’ Fox Business A new real estate trend? Shopping malls converted into residential units in South Florida NBC 6 South Florida Who's Had a Harder Time Buying a Home: You or Your Parents? The New York Times China home prices slumped in March as property crisis drags on Business Insider Retirees: Is it time to downsize, even in this real estate market? Effingham Daily News Fannie Mae, Freddie Mac clarify real estate commission rules National Mortgage News Top residential real estate sales for April 1-5 in Sarasota, Siesta Key, Palmer Ranch, Osprey, Nokomis Your Observer Diamond Lake Minerals and BOXABL Revolutionize Real Estate with Modular Housing Collaboration Proactive Investors USA Homes for Sale in Manhattan and Queens The New York Times Newsmaker Spotlight: LaMarcus Thurman on a Journey From Finance to Real Estate, and Helping Communities Who ... RisMedia.com Former HGTV star from Los Gatos sentenced in $10M real estate fraud case CBS San Francisco |
RELATED ARTICLES
10 "No Money Down" Ways to Buy Real Estate Turn the Television on any Sunday morning and you'll find yourself in the middle of a "how to buy real estate" infomercial. Can you really buy a house with no down payment? Can you really make thousands or millions of dollars buying real estate. Prepare Your Rental Property for Occupancy Among your many responsibilities as a landlord, the law provides for a warranty of implied habitability. This means that the dwelling must be considered habitable and any known problems must be fixed before you allow a tenant to take occupancy. Rehab Foreclosed Houses the Right Way and Keep All the Profits! I've been teaching people how to buy foreclosure properties for a long time.And we all make the biggest profits on the deals that we rehab the right way. Using Transformation Psychology to Sell Investment Properties Satisfying and lucrative real estate investment depends upon your correct assessment of profit potential, of course, but your ultimate success depends on your ability to transform a doghouse into a dollhouse. The renovation process involves physical work and choosing the best supplies, in order to create maximum positive emotional effect and profits. Rental Property Management - Ten Questions Why hire rental property management? Because doing it all yourself is the surest way to make your real estate investment experience a bitter one. You also have more time to find the next deal when there is someone taking care of the details for you. Rapid City Real Estate Agents Take me Back to the Black HillsLocated in Western South Dakota, Rapid City is a thriving community with many amenities to offers its residents. This city is nestled among the beautiful Black Hills, offering endless recreational activities for the outdoor enthusiast in the Black Hills National Forest. Virtual Agent? Online Real Estate When preparing to sell a house, you should always consider the options of selling a home privately or listing with a real estate agent. Of course, the most cost effective option would be to sell your home privately, but what about the number of Home Buyers in the market who are not willing to consider a private sale listing?I am a firm believer that people should be able to sell a home privately but, like a lot of people, was not the kind of person who would be comfortable buying from a Private Home Seller. Branded Email in the Real Estate Industry Branded Email in the Real Estate IndustryYou're in the real estate industry, and that means you've got a brand. Chances are, you've spent quite a bit of money to build that brand, whether it's through franchising fees, marketing, websites, business cards, other print materials, advertising, yard signs, and/or through other means. Selling by Owner Escrow or Closing Checklist Home sellers should keep on top of their pending sale; especially when selling without the assistance of a real estate agent. Sometimes busy real estate agents forget to monitor all aspects of a pending sale. To Buy or Not to Buy Purchasing a home is a major emotional and financial decision. Often times, people want to buy a home; however, emotionally cannot afford to commit to the home-buying process. What to Look for in a Real Estate Agent Real Estate Agents play an essential, critical role in the process of buying and selling a home. You just simply cannot afford to work with an agent that does not exhibit top-scale professional values. Moldy Homes are a Great Investment Have you seen this in your classifieds? -"Will pay $$$ for moldy homes. Call 555-555-5555"All you have to do is watch the news and you know about mold problems. Thinking About Selling Your Home? Owning a home is the original American dream. It's the old frontier spirit, wanting to claim your own tuft of the New World. Selling Your House Fast! The physical senses of buyers respond to a home's design, and buyer base their purchase decisions on what the see, hear, smell, touch, and even taste. But what do buyers actually want?All buyers what a home that most closely suits their needs and makes them feel a sense of happiness. Essential Buyer's Guide for Overseas Real Estate It's been said many a time that overseas real estate buyers leave their brain on the plane when they step out into the sun in their overseas destination of choice. They've already fallen in love with the country, its people, climate and lifestyle and they've come to snap up that dream home. Personal Branding Techniques for Real Estate Agents and Brokers Branding can be done to any product, or any person. Before undertaking an exercise in personal branding, however, consider your distinctive strengths and abilities and what they offer the market place. Investing In Commercial Property Why commercial property?Compared to residential property investments, commercial property offers some key advantages:Long-term secure cashflow -- Commercial lets normally have long lease contracts, with periods of 10 years and more not being uncommon. In addition to this, commercial property tenants are less likely to default on payments and even if the tenant goes into liquidation, the liquidator may continue paying the rent in order to stop the lease being forfeited. Buying Beach Houses in New Zealand: Real Estate and Investment Opportunities Buying a beach house in New Zealand offers many possibilities.New Zealand is made up of two main islands, North Island and South Island, giving it miles of coastal lands and perfect beaches to live by. New Homes in Ridgefield Location:Frequent travelers will absolutely delight in this town! As part of the southwest section of Connecticut, Ridgefield is a convenient town to live in since it is only miles away from both the New Jersey Tri-state area and New York City. It is also close to its neighbor, Danbury, and has a steady population that continues to grow. If You Move Yourself You'll want to take some items in your own car when you move, and that's true whether you're hiring a mover or doing the job on your own. You'll hand-carry jewelry, medications, house plants, pets and a suitcase for each family member. |
home | site map |
© 2006 TIGER MEDIA |