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What Makes A Vacation Property Pop?

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If you are considering a vacation property, it may be time to do some serious thinking. Winter is the perfect time to snap up a great property before things become too competitive. Read on and discover what factors should go into your vacation home decision.

Do the Math

Desirable vacation destinations can come with big price tags for those renting by the day or week. For instance, during serious tourist season in some beach and mountain areas, you can pay thousands of dollars for a room at a nice resort. Even if you find an independent property rental for less, you must take into consideration the cleaning fees, administration fees, and more. When you buy a vacation property, though, for the same price you might spend for a week or so, you can stay days, weeks, or even a month if you want and never worry about any extra resort fees or other added costs. Before you make the decision, price some rental cottages or condos in the area to compare to the monthly cost of buying a property. Be sure to include your homeowners' insurance costs, property taxes, mortgage costs, regular maintenance on the place, and other costs of owning a property. You might be surprised at how affordable it is to own rather than rent during your next getaway.

Love the Location

Many families end up traveling to the same favorite vacation destination repeatedly and with good reason. It's nice to feel at home in a well-loved and well-known town. You don't have to ask around to find the best place to eat breakfast because you already know about it. When trying to make the buying decision, consider choosing a place that means a lot to you and your family and that is convenient to travel to and from. Less than a day's drive to your destination is ideal, if possible. Location is also key if you plan, like many, to place your home on the rental market. Many people end up letting other vacationers pay their vacation home mortgage for them with rental fees. When vacationers rent for a week or so, they look for ease accessing the beach, the ski lift, the lake, the amusement park, and so on. You can make your vacation home do double duty by taking some care with the size too. The more people it can hold, the greater the chances your home will stay booked when you aren't there.

To find just the right home for you in your vacation paradise, speak to a real estate agent in the area. They know what is what when it comes to vacation properties and will steer you in the right direction.