Are you dreaming of that weekend getaway or making leisure your new lifestyle? Either way, contemplating what life will be like in a home built for fun is exciting.
We compiled our most common concerns that buyers bring up when they’re looking for a recreational homestead. Here is our guide to buying recreational properties: 7 important things you need to keep in mind.
- Consider the travel time to your new house. For those using the home as a vacation spot, keep in mind the time it takes to get there. Love at a distance is no fun for anyone, especially when we’re talking about time off from the norm.
- What activities are most appealing to you? Determining how you want to spend your time will help narrow down the possibilities for your new destination. Do you or your anticipated guests like to fish, hunt, ride ATVs, swim, or practice the fine art of doing nothing? Figure out your priority list before you start shopping, this will save everyone time.
- Do you plan on using the property full-time or on occasion? You might have different standards for a home away from home vs. your year-round residence. Kitchens, bathrooms, internet access, and parking are all areas of concern when comparing properties.
- Related to number three is your list of amenity must-haves. Do you have a boat and need a boat dock? Are there trails to walk or ride your ATV/horse/bike on the grounds? Will you need storage buildings or barns?
- Will you need to rent out the property to be okay financially? If you’re eyeing recreational property as an investment, ask your real estate agent if renting it out is possible. There might be neighborhood restrictions on short-term rentals, or you could run into bad roads during the spring/winter that makes the property inaccessible.
Renting out your vacation home also brings up the issue of catering to your paying guests. Who’s going to let them in? Who will clean up after they leave? Do you want to hire a management company? Can you afford a management company? You might want to determine the answer to these questions before signing an offer to buy a property.
- Consult your real estate agent for information about property taxes and insurance. Will you need flood insurance if you’re near water? Are property taxes outrageous or within your total budget? Sometimes taxes and insurance can make an easy decision complicated if they’re higher than anticipated.
- One final thing to consider is the general maintenance of the property. Will you be available to keep up with repairs? What about in the event of a natural disaster? Are you close enough to inspect and clean up if a storm comes through? Will you need to winterize the house if you leave during the cold season? How much will that cost?
Are you thinking about moving to, or adding a recreational property? We can help you sort out your “must-haves” from your “wish list,” address the financial parts of buying and find you the best property for your lifestyle. Give us a call at 361-449-2051 or email desertflowerrealty(at)desertflowerrealty(dotted)com.