4 Things to Consider When Buying a Second Home

Dated: January 21 2021

Views: 73

Purchasing a second residence is always a significant decision, especially if you intend to use it as a vacation home. Of course, there are many considerations to take into account beforehand, not the least of which is accounting for the various costs of owning multiple properties for personal use. When you are ready to start looking for a second home, here are some additional factors to consider.

Cater to Your Lifestyle
While your primary residence likely caters to essential aspects of your daily life, such as proximity to schools and jobs, luxury buyers often seek a second home that supports their personal interests and provides access to a coveted lifestyle. Whether that means living in a golf community, in the mountains, or along the coast, this home should provide you and your family with a place to make special memories.

Accessibility
Are you willing to hop on a plane every time you go to your vacation property? Or is it essential that it be a car ride away? It’s important to consider how, and how often, you plan to use this home. If you anticipate it being used for extended stays, perhaps you’re willing to travel a bit further, whereas you’ll probably want a weekend destination to be closer to your main residence. 

Seasonal or Year-Round?
For some buyers, a deciding factor when choosing between two locations can be the amount of usage that they’ll get out of the home. While some properties can only be enjoyed for part of the year, one that has year-round appeal will allow you to get the most out of it. 

Long Term Goals
Be sure to discuss how this property aligns with your long term goals with your financial planner. Whether you see it as a short-term investment or a place where you can retire someday, a second home is a significant asset that can help you to achieve your financial goals.

Bottom Line
Whether you are looking for a second home in the mountains, on the waterfront, or just in the suburbs, let's connect and talk about your specific wants and wishes. I'm at 803-610-1319.

And remember, I can help you whether you are interested in a second home in the Charlotte metro area, where I live and work, or anywhere. I have great Realtor® connections all over the US and around the world.

 

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Bill Jordan

Local. Global. Discreet. Bill is Broker-in-Charge and Realtor, and a member of Rinehart Realty's four-person management team. In addition to managing the firm's office in Fort Mill, SC, Bill work....

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