A large amount of home buyers have an advantage over renters in many markets, which means that now many be the time for you to purchase that second home on the water you’ve been wanting.
Step 1: Give the home a try
If you are interested in a waterfront or riverfront home, you may want to find out if renting the home for one stay is a viable option. If you are unfamiliar with the location that the home is in, you may want to check out what the town or city is like. This will give you an opportunity to evaluate not only the waterfront property but the surrounding amenities and attractions.
Consider all factors when you are giving the home a try, including how far away everything is. You may want something that is secluded from the rest of the area, or something with easy access to the town. Another important item that you should consider is how much money you are going to spend on airfare and fuel to get to your vacation home. These are all of the major elements to keep in mind while renting a vacation home.
Step 2: Consider your needs
What do you want your vacation home to allow you to do? Do you enjoy boating, canoeing, swimming, fishing, kayaking, or any other water activities? If that is for you, then you will want to assess the conditions of the water the home you are interested is on.
If you want to sit back, relax, and enjoy the view from the comfort of your home, then you may want it to be more of a secluded property than anything else.
Step 3: Assess the condition of the property
People have a tendency to fall in love with the home and do not consider the condition of the property that the home is on. When you’re purchasing a vacation home, you should consider the following:
- Is this a natural disaster prone area?
- What condition is the plumbing in?
- Is there asbestos on the property?
- How old is the wiring in the home?
These are the practical decisions that need to be made beyond the condition of the home itself. Remember to ask questions about the property condition, such as the ones above. They are the only way you will find out everything you want and need to know.
Step 4: Work with a local agent with experience
It is extremely important to have a great agent who is familiar with the area that the property is in. They may have access to more properties for you, and will likely have a better reputation. A local expert may also have more information to offer you about the area that you are interested in than you could find anywhere else.
If you can find an honest, well known, well liked, and experienced waterfront or riverfront property agent within the area you’re looking at, then we would highly recommend working with them over anyone else. Their expertise in choosing a waterfront or riverfront property will far surpass that of an agent that only handles the occasional waterfront property sale.