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If you close your eyes and imagine your dream getaway, what do you experience? Tropical breezes and warm sand? The smell of pine needles and a cup of hot chocolate?

What if you made that dream a reality? The rise of remote working brought about the rise of vacation home sales. In 2020, vacation home sales increased by 16% over the previous year.   

Maybe it’s time for you to start searching for the best vacation home? This post will walk you through six key factors to consider when buying a vacation home. Start by hunting through this list, then get house hunting! 

1. Be Realistic

As you consider how to choose a vacation home, start with a reality check. Are you and your family willing to make the commitment to travel to your vacation home? Are you planning on visiting frequently enough to make your purchase worth it?

Before you make this investment, compare the cost of visiting and getting a hotel with the cost of buying and maintaining a home. If you visit so often that buying is the best option, then it’s time to buy the best holiday home!

2. Set a Budget and Stick With It

As with any home purchase, you need to set a budget and stick with it. If you overextend yourself so much in your vacation home purchase that you can’t afford to travel to your getaway, you’ve spent too much. 

Owning the home adds up to more than just the mortgage price. Keep things like HOA, local property taxes, and utility costs in mind as well.

3. Consider Buying vs. Building

It’s tempting to imagine building your dream house. There are many types of vacation homes, and you want to make sure yours suits your needs perfectly. However, building in destination locations brings challenges. 

Vetting local contractors, dealing with local building restrictions, and managing demands from HOAs can create a major headache. 

4. Find a Local Agent

It’s one thing to know your favorite stretch of shoreline to fish or sunbathe. It’s another thing entirely to understand the local real estate market. Working with a local agent gives you an insider’s perspective on the area. 

They will keep you informed of local quirks and diamonds in the rough. A good agent can take your list of desires and help you find the perfect spot. 

5. Does It Make a Good Rental?

If you’re not going to be visiting frequently, you may want to consider renting out your property when you’re not there. Places like these coastal apartments (check them out here) have the amenities that make great rentals. An isolated cabin in a remote desert probably won’t draw crowds in the same way. 

If it’s important to you to be able to rent out your place when you’re not there, choose your location wisely. 

6. Plan For Maintenance Needs

If you buy a vacation home abroad or even in the same country but far from you, you should have a plan in place for maintenance emergencies.

Shortly after buying, compile and have at the ready a list of local maintenance companies. Have companies or individuals in place for repairs for the HVAC, plumbing, electrical, and general fixes. 

Your Best Vacation Home Awaits

Close your eyes again and imagine your best vacation home, but now picture yourself there having the time of your life. As you keep these tips in mind, you can confidently begin to make that dream a reality. 

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