| Americans working more hours on average than | | | | renting a vacation property for a year and keep |
| at any other time in our history, we are setting a | | | | up with how often you or a family member |
| precedent for not only working hard, but playing | | | | makes use of it. |
| hard as well. It seems our leisure time is more | | | | 3) Be aware of just how much home you need in |
| valuable to us now than ever before. Perhaps that | | | | your vacation home. If you are planning extended |
| is why buying a vacation home is becoming a | | | | summer stays with the family, you may need |
| major goal for many working Americans. | | | | more space within the home than if you were |
| Some are (and wisely so) combining their goal of | | | | planning several weekend trips throughout the |
| a vacation home with their dream retirement | | | | year. Also, keep in mind your long-term goals for |
| home as well. They are looking forward to a | | | | the property. Is this the place you wish to |
| future when the kids are grown and the nest is | | | | someday retire? If so, you may want the house |
| empty rather than simply a place they can go for | | | | to have a cozy, low-maintenance feel to it. These |
| weekends during the summer or winter for that | | | | things are very important factors in the decision |
| matter. Here are a few questions to ask yourself | | | | making process. Also pay attention to the area |
| when considering a vacation home. | | | | around your property. If you want a nice secluded |
| 1) Can you really afford the luxury at this point in | | | | cabin in the woods, make sure you aren’t |
| your life? Not only do you have to make the | | | | in an area that has the potential for explosive |
| payments on the home, but the upkeep for the | | | | growth or you could find your nice cabin in the |
| times when you are not going to be there. | | | | middle of a suburban sprawl. |
| You’ll need to maintain utilities even when | | | | 4) Be aware of what you want as far as location. |
| you aren’t there and keep it in good | | | | Do you want a cabin in the woods or on a lake, |
| repair (which means having someone check on it | | | | or a little home on the shore? If this is your place |
| periodically if you are far away). In addition to | | | | to hide from the world, you want it to be a place |
| utilities and maintenance, it is one more piece of | | | | where you would be comfortable and derive a |
| property that needs to be properly insured. If | | | | great amount of pleasure from. You also want to |
| your vacation home is not lived in, you may need | | | | make sure that there are amenities that appeal |
| a rider to your owner’s policy to make | | | | not only to you but also to your family members |
| sure that the home and the contents are | | | | that you plan to bring along. Children can make a |
| covered for damage received when you | | | | vacation miserable if they aren’t properly |
| aren’t in residence. | | | | entertained and then no one will want to use your |
| 2) Will you make use of it often enough to make | | | | get away. |
| it worth the investment? There was a time when | | | | Whatever your wishes for a vacation home are, |
| owning any property was a solid investment, but | | | | ultimately you have to be sensible when choosing |
| we’ve really begun to reach a plateau, | | | | and purchasing your place to get away from the |
| and empty property tends to become neglected | | | | world. If you follow the advice above you should |
| and more difficult to sell. If you aren’t | | | | be off to a good start in determining the best |
| sure you will use the property often enough to | | | | vacation home for you. |
| make it worth the cost, perhaps you could try | | | | |