Deciding to purchase a vacation home can hold many benefits. Not only does your family have a home that can be used for vacations any time that they want, but the home can be rented to other families looking for vacation spots. Less than half of those buying vacation homes plan to use it solely for their vacations or as their family retreat, meaning renting vacation homes is a popular option. Many vacation homes, a little more than one-third, are purchased because of their beach area location. It’s no surprise that Florida has many beaches, therefor many beach houses, but if your looking for property in South Florida than South Florida realtors are the way to go rather than trying to navigate the process alone. Aside from having a realtor on your side, here are a few more tips for purchasing the perfect vacation home.
Location, Location, Location
Many people search for houses for sale or homes for sale in a specific area of Florida when looking to purchase vacation beach homes, but make sure the reasons for searching that specific area are the right ones. Searching for Florida beach houses in popular locations may seem logical, but if you don’t genuinely like the area then what’s the point. Rather than searching for beach real estate in prime locations, research locations and areas that you are drawn to, then search for vacation properties within that area.
Renting Out or Staying in
Depending on the location of your home there is a good chance that others would be interested in renting it when you are not using it. This can seem like a superb idea if you take the time to consider all of the factors. You’re family will be using the rental home during certain periods, which means you won’t be able to rent it out. Determine how often you plan to use the rental home and deduct that from the expected money that renting it would bring in. Keep in mind that things tend to change over the years, and your vacation time could increase or decrease, which means going back periodically and evaluating your calculations is not a bad idea either.
Realtor Knowledge is the Key
When making the decision to search out real estate it’s important to work with a realtor who knows Florida well and is familiar with the area. South Florida realtors may seem to be everywhere but you need to find one that you are comfortable working with and one that understands your wants and needs. South Florida Realtors who also lives in the area and is familiar with it can help you make decisions based on tourist attractions for when renting your home, and quiet relaxing places for when using the home yourself.
Size Matters
Depending on where you are choosing to buy your vacation home, you should consider the size and how this will affect renting your unit. Of course you want to choose one that is big enough for your family, but you should also consider the options of your potential renters. South Florida draws many vacationers meaning family trips and sometimes multiple families are involved. Choose a house that has multiple rooms so it can comfortably accommodate larger parties for vacations.
Purchasing a vacation home in a popular tourist attraction area, such as Florida which sees more than 100 million visitors a year, can help ensure that you have a constant flow of renters for your property. Working with South Florida realtors can help ensure you choose the best vacation property. Know what you need and want so that you can express your wishes with your realtor. This will help eliminate wasted time and wasted walk through’s in houses that are not a proper fit for you and your family. With a little time and research on your part you can find the perfect property for not only your family to vacation in, but also for a visiting family who is willing to rent the perfect vacation property.