You’ve bought a home before. You’re established. Now you’re ready for something fun: a vacation home.
Before you dive into lake life or hit the slopes outside your back door, pause. A second home isn’t the same as your primary home. Here are the keys to getting it right.
Key 1: Know Your Why, Where + How
Start with the big question: How will you use this home?
Retirement? Weekend escapes? Water? Mountains?
Your purpose determines your location.
Test-drive the lifestyle: Don’t just make a weekend visit and buy.
Rent for a week.
Visit in different seasons.
Talk to locals.
Tap local experts: Gather pertinent information including:
Seasonal water levels and quality
Permits and fees and seasonal access
Focus on lifestyle over floorplans: Many buyers care more about amenities – pools, trails, golf, community events – than room sizes.
Key 2: Plan for the Days You Aren’t There
You’ll only use the home part-time. Consider a community with maintenance included.
Choose low-maintenance preventative materials.
Hardwood or laminate over carpet
Smart thermostats, smoke/CO alerts, water leak detectors
Think security: Many communities have on-site security or police partnerships. At minimum:
Keyless entry with changeable codes for cleaners, guests or renters
Cameras or monitoring
Renting is an option.
It can offset costs – but it’s work.
If you hire a property manager, add the fee to your budget.
Key 3: Build a Financial Plan That Works
A vacation home is a lifestyle upgrade – but it’s also a commitment.
Know the total cost of ownership: Even if you aren’t there, you may still pay for utilities, trash service, landscaping and general maintenance.
Talk to a financial pro: A financial advisor or CPA can walk through tax implications and rental income considerations.
Think resale – always: In vacation markets, location drives value even more than in the suburbs. Mountain-view, lakefront and oceanfront homes hold value better than similar homes just blocks away.
Ready to Get Away?
With these keys – purpose, planning and smart finances – you’re ready to find a second home that fits your lifestyle today and your dreams for tomorrow. Your vacation getaway could be waiting for you in the comprehensive new home community listings on NewHomeSource.
Julie Gordey
A lifelong educator, Julie Gordey, is a retired school administrator. After years of focusing on education, this University of Texas graduate now travels and enjoys freelance writing for BDX and NewHomeSource.com.