Daydreaming of buying a second, vacation house ? A seaside vacation house adored with a fireplace or maybe one in each room, sky touch option with powdery slopes near or may be a mountainside property with a front porch overlooking a breathtaking view of the sun disappearing behind the mountains.Doesn’t the whole idea sounds enticing? But gratifying this pleasure takes a lot of attention to details along with the firm vision of what the long-term aims are. The soul satisfying returns that you get at the back of staying in your vacation house is perfect but you cannot really afford to make a bad move.
Here is the list of 5 things that you should avoid at all cost before buying a holiday house –
1. Costs that you are not prepared for
Just like the primary accommodation, you will have to take into account the overall price of possession, which includes but is not restricted to insurance, property taxes, and various other carrying expenses. Note that even if you are not staying there all year round, you will still be charged for gas,water, trash removal,electrical, landscaping, and a plethora of other maintenance services.
Be wary to involve all of these overhead expenses in your assigned vacation house budget, for nothing tends to ruin an otherwise ideal vacation house like being covered till the head in expense.
2. A location that you are not acquainted with
Never for a single moment think of purchasing a vacation home until you have stayed in the area at least a certain number of times. It might sound basic;however you have to be a cent percent sure. The fact that you simply admire and cannot get enough of the particular ski village, country ranch,beach town, or simply that apartment in posh locality; is NOT ENOUGH! Be sure before you make your head to buy a particular house for you are going to spend a great amount of your idle time here in coming future. And sadly, unlike timeshares and hotels, buying a vacation house does not gives one the chance to tweak destinations once you are tired of the view.
What is better here is to buy the vacation property in Bangalore that is if you are looking to buy an apartment in city’s hustle life and that too in India. Doing this will at least guarantee the reliability of location.
3. The horror story of leaving your house unoccupied
When we talk of costs, the one expense that is most specific to vacation houses is the management fees in your absence. So in case you are planning to visit occasionally ensure that you have appointed a local property assist who is ready to take care of your home in your absence. It might cost you some extra bucks, but so will the repairs of the leaky roof or frozen pipes, that commonly occurs when the property goes disregarded for an extended period.
Another thing that you can do here is list your property on leading realty portals so that the time period in which you are missing, your property is not unoccupied plus like every ideal investment, gives you returns.
4. The moment you lose interest
You are only human and like every person you are bound to get bored of the view. At times your heart will call out to mountains after been left in the vicinity of the open sea or vice versa might crave for sunset view from the mountain top while enjoying the ocean breeze. It is extremely normal to get over a particular location so before you find the ideal house note that the return when you sell it off, that is if resale is an option, is higher than what you bought it for.
This is where the real estate Bangalore or similar places come as a savior for it ensures a guaranteed return of value, but again it is only when you opt for a busy life as part of your vacation house.
5. The basic facilities seems to be missing in action
It is one thing that your vacation house is accessible from both public and private transport, but will also have to ensure that the basic social infrastructure like mobile towers, hospitals, banks, and ATMs are in the vicinity. The last thing you want is to be deserted in the middle of nowhere, even though how amazing it sounds.
Irrespective of how scenic the view is or how ideal the property deal, make sure that you have the capability to tackle these 5 problems, if and when they come, to silence the conundrum. With all these covered, sit back and enjoy!