If you’re ready to invest in a vacation home, there are likely many locations to consider. Finding an area to focus on can be difficult if you don’t have a set location in mind and need to be more innately familiar with these areas. Narrowing in on your ideal area will make the search easier. Consider this set of criteria as you embark on your second home search.
Distance to Your Primary Residence
Some homeowners may want a vacation home within a few hours of their primary residence, while others may want a location further away to feel like they can fully unplug. Determining how and when you want to use the home will help you choose the best distance. For example, if you have children actively involved in sports and activities close to home, you may want to find a house within an hour or two. Or, if you don’t have any commitments at home and you want to escape to a destination where you’ll unwind and relax, a house that is further away may be your best option.
The Amenities in the Nearby Town
Some vacation homes are known for their charming downtown areas, filled with restaurants, coffee shops and boutiques. If this is important to you, then this could be a starting point for you as you narrow down your search. However, if you know you will be retreating to your vacation home to enjoy home-cooked meals, gathering around the fire at night, and lounging lakeside day and night, then the quality of the nearby town may not be as important.
The Water Quality of the Lake
If you’re buying a lake house, the water quality may be your top consideration. If your family enjoys water activities such as waterskiing, tubing and wakeboarding, you’ll want to make sure the water is safe for swimming.
If the House is In an HOA Community
Like a primary residence, some areas with vacation homes have a homeowner’s association (HOA), and others do not. If the house is in an area with an HOA, you’ll be limited with what you can do on your property, such as specific stipulations with your pier, the house’s color, fencing if you can rent out the home and more. Alternatively, HOAs appeal to some homeowners as they ensure that the houses adhere to a particular set of standards.
If It Will Become a Primary Residence
Often, homebuyers buy vacation homes to live there full-time eventually. If this is your goal, the magic of vacationing somewhere can vanish once you move in full-time. From the square footage, living spaces, outdoor area, neighborhood, town and access to amenities such as stores, medical facilities, shopping, entertainment and highways, and what the area is like throughout the different seasons, it’s essential to view vacation homes as a primary residence, if you plan on moving in full-time one day.
If There’s Enough Room to Grow
If you anticipate your family growing in the future, consider this as you buy a vacation home. Whether you expect your children to bring their friends and future grandchildren or you intend to invite extended family and friends, making sure there is enough existing sleeping space or the ability to add on will give you a home with enough room to grow into.
