When looking for a second home, you should spend considerable time thinking about the location. No matter if you’re looking for an investment property, vacation home, or retirement landing pad, location should always be your number one real estate concern. Here are some tips to help you locate the ideal places to buy a second home.
Target communities that offer unique amenities
When looking for second-home properties, aim for areas that have unique, attention-grabbing amenities. If your second home is going to be used as a vacation property, you need to make sure that there are plenty of amenities and conveniences nearby. If there’s a world-class ski resort, stunning beach, elegant golf course, or exclusive country club in the area, it will enhance your ability to advertise your second home as a vacation rental. Nearby you will also find fine dining, excellent shopping opportunities, and rewarding recreational activities. Whether your goal is to generate income from your second home investment or simply enjoy a comfortable home away from home, the more amenities in the community, the better off you’ll be.
Find a community you are familiar with
If you have experience with a certain geographic area, use this information to your advantage. Take advantage of your knowledge of a particular place. Visit family communities when looking for a second home. The area could be a place where you have enjoyed a brilliant vacation or an extravagant business trip. If you’ve spent time living in a particular area, put your personal history to work for you. The more you know about past developments and the current feel of a given location, the easier it will be to pull the trigger on a real estate investment in that area.
Stick to established communities
If you want to venture into a region you’re personally unfamiliar with, don’t dive into an area that isn’t established. Stick with communities that have a proven track record for attracting savvy vacationers. Aim for places where steady economic growth and appreciation are the norm, not the exception. While pop-up vacation communities can provide excellent investment opportunities, by sticking to established locations you can limit some of the risks associated with buying a second home.
When you’re looking for second home locations, don’t jump at anything. Take the time to examine the community carefully. Find out what types of services and activities are available in the area. Visit places that are intimately familiar to you. If you choose to buy your second home in an unfamiliar area, make sure that the community in which you settle has an established history of comfort and luxury.