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Buying a place to get away from it all is exciting and overwhelming at the same time. And if you bought your current home many years ago, you may need to be reacquainted with the home buying process. To help you along the way, The Aaron Weber Group invites you to check out the following tips.
Location, location, location. It’s more than just a catchphrase - location should be your top priority.
● Distance from home. The experts at HGTV advise considering how far away you will be from your destination. Most people who purchase a second home choose a location within driving distance. If you plan to visit frequently, distance can weigh heavily in your decision.
● Desirability to others. If you plan to rent your home to others to offset the mortgage cost, you should consider how desirable the location will be to potential renters.
● Rental rates. Look for a location where rentals are fetching premium prices, at least seasonally. In addition to proximity to water, consider locations near resorts, sports venues, theme parks and other attractions.
It can help tremendously to visit prospective destinations and other rentals to make a good evaluation of your prospects. For example, if beaches are your thing, look into reasonably priced cities like Palm Beach Gardens. Or you may choose a second home that’s closer, perhaps a lakefront property on Lake Michigan or Lake Mendota.
Plan ahead. It’s smart to think of your vacation home as an investment. Not only do you have the distinct advantage of a getaway that’s all yours, but when you rent out the space, you’ll be generating income. Just remember that to keep this investment a smart one, it’s in your best interest to work with a property management company if you’ll be unable to manage your vacation home’s maintenance and cleaning. Take stock of popular rental agencies that put both you and guests first with around-the-clock service, strict cleaning schedules and the ability to handle guest emergencies.
Future retirement. You may also be considering a property that would be your primary home when you become an empty-nester. According to the AARP, you should consider accessibility and “age-friendliness” - find a home that will promote independent living for aging in place. Here are some qualities experts suggest looking for when making your decision:
● Universal design. These are single-floor homes that easily accommodate people of all ages. Included are multi-level kitchen counters, wide doorways, and switches and outlets that are easy to reach.
● Lower-level bedroom. If a single-floor option isn’t working out, look for a home with a bedroom on the ground floor, or a room that could be converted to a bedroom. Open spaces are more desirable than hallways and small rooms. Think in terms of one level being your primary living space; is the laundry going to be easily accessible? And what about the kitchen?
● Bathrooms. Look for larger bathrooms with flooring that isn’t very slippery. Traction mats can be installed for better footing, and taller toilets and grab bars can always be added as well. Curbless showers are also a great idea. The look is elegant and you eliminate a tripping hazard.
● Entryways. Take a look at how you enter and exit the home and consider how accessible the walkways and entries are. Steps can be difficult to navigate even for fairly able bodied seniors, let alone those in wheelchairs. Ramps can be added, rough surfaces smoothed out, and motion-activated lighting can also help with managing difficult walkways.
Home sweet (second) home!
Your vacation home can become a reality by following these simple tips. Take into account location and make a smart investment, considering a property that will accommodate your golden years. And when you work with the experts at The Aaron Weber Group, you can rest assured that you’ll find the perfect vacation home for you and your family! Reach out today by calling (608) 556-4179.