Find Amazing Locations for Your Summer Home

Edited by Nerissa Avisado, Anonymous, Rebecca M., Eng and 2 others

Trying to find amazing locations for your summer home can be a bit of a challenge, considering there are so many breathtaking places that you can choose from. The key is knowing what you want so you get exactly what you want. Do you want it nice and cozy in the countryside, or do you prefer to be near the beach so you can easily go for a swim anytime you feel like it? The possibilities are endless, and it all boils down to what suits you or your family's preference.

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Another thing: Why do you want to make this trip? Is it a romantic getaway, finding the best beaches for surfing, or purely a family fun time adventure? Also if you're planning to rent a house for the summer, remember that there are two types - one is the professionally managed, and the second is those managed by the property owners.

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Some of the advantages of the former are: You have on-site help around the clock, experienced staff from the area, you get well-trained hospitality employees, and of course, you're sure your credit card payment is secure. The latter choice also have their own perks, namely: More personal and direct contact with the owners themselves, a detailed knowledge about the rental, more open to flexible rates and dates of stay, and you can get a lot more options when you choose to stay in a smaller town.

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Finding the perfect location for a summer home is great. Also, for those with the entrepreneurial spirit in them who want to go the extra mile and wish to monetize their investment property during times that they're away, you can easily have them rented out. But for you to have the best options for your renters, you have to make sure that you are giving them their money's worth. Whether they're staying for just a week, or plan to stay the whole summer at your place, it has to be worth their while. Remember, word of mouth is one of the most powerful advertising tools.

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So here are some smart investment tips before you purchase that dream house for summer:

  1. 1
    Don't Get Something You Cannot Afford.
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    It doesn't take a genius to figure out what you can and cannot afford. The net is flooded with mortgage calculator to help you do the math. All you need to do is enter the amount of money you make, how much you owe, and it will let you know how much the banks will still allow you to borrow. Be careful though, because banks have become more cautious and now require more stringent requirements for you to comply with before they lend you money.
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  2. 2
    Key in the Extra Costs.
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    The next step to do, after knowing how large a loan payment you can handle, is to look at the additional costs you will incur for running the house. Think about insurance, taxes, utilities and maintenance. Preferably you ought to live nearby, but if that's not the case, you have to consider paying for the services of a property manager or a trusted caretaker. Depending on where you're located, your maintenance costs can quickly add up. For instance, a house on the beach has to be painted every few years, while a home at the mountainside may require repairs on the deck every year.
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  3. 3
    Acquire the help of a local real estate agent.
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    A lot of seemingly great vacation towns can be deceiving. No matter how charming a place can be, there are still crucial facts you will need to know before you purchase anything, such as driving conditions, parking problems, hidden bonds, etc. A real estate agent will know such things and help you come up with informed decisions.
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  4. 4
    Consider what your renters want and need, not what you want or need.
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    If your idea of a great vacation is an escape from the hustle and bustle of city life - no phone, no TV, no internet, just the peace and quiet of a cozy home - that's fine. However, don't expect your renters to feel the same way. Yes, they want to relax and enjoy, but they will also want things they can do indoors and keep themselves busy with when they're tired of doing outdoor activities. Make sure they have a lot of sleeper sofas, and can easily fit a large crowd. It may also be a good idea if the house can easily be located, so that people can park their cars and forget about them, and just enjoy the walk to wherever they choose to go. Yes, this may cost more, but you will definitely get an edge over your competitors.
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  5. 5
    Avoid purchasing a vacation home abroad.
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    The reason for this is quite simple actually; it is a foreign country and the rules of law you're accustomed to in your native land may be totally different from those you're planning to have in your dream vacation home. If you still really find buying a home overseas appealing, make sure you learn everything you need to know about it first, before even considering. Remember, you're risking hard-earned money here, and if you don't want it to go down the drain, practice extreme caution.
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  6. 6
    Buy your summer vacation home, for the right reasons.
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    Yes, making money off of it while you're not using it a good idea, but bear in mind that your primary reason for this is for you or your loved ones to have a grand time in it whenever you get the chance. When a place is well-loved and well-preserved, it will show, and renters will come to appreciate the value of your home as much as you do. Then, they will choose to come back for a lovely experience time and again.
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Tips for those who wish to Purchase a U.S. Summer Home

  • Find serious bargains in the country's most sought-after areas. Today you can find million-dollar homes that will sell for as low as $300,000. There are of course, more expensive ones, especially in premium neighborhoods, but they're definitely worth the price, and what with the glitz and glamour of L.A., for example, it's not really that hard to sell.
  • Find those locations that never run out of great attractions. Cultural activities, and the best in dining and shopping experience, are just some of the things people are looking for, especially when they're on a great summer getaway. If you're planning to rent out your home in the future you'll have no trouble doing so, especially if you're on the beachfront.
  • Focus on your target market. Seize the chance to make your dream of a summer home come true. Plan ahead, do thorough research of the area first and learn everything you need to know. Weigh the pros and cons before you make your final decision so you won't have any regrets later on. Most of all, think positive. Yes, the housing crisis took a toll on so many desirable towns, and that is all the more reason you must think about those people who are more than willing to spend their hard-earned money on their perfect summer retreat.

So remember, when you go find amazing locations for your summer home, be smart. Don't be easily swayed by the picturesque view of the location or a home's cozy ambiance. There are a lot more things to consider, aside from aesthetics. The more you know about the place, the higher your chances of getting a great property investment.

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Categories : Home

Recent edits by: Lynn, Eng, Rebecca M.

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