Your Florida Vacation Home Should be Fun…and Practical
As the housing market continues its recovery, sales of vacation homes in Floridaare part of the national picture reported by the NAR — which tells us that vacation home sales rose by over 10% last year.
While owning your own vacation home in Hutchinson Island, Nocatee Ponte Vedra and PGA Village Port St. Lucie automatically sounds great, a thoughtful reality check is always in order. Particularly when a vacation home is involved, it minimizes the likelihood of making an overly emotional decision (and eventual buyer’s remorse).
The first question to ask is How often will we actually use the home? If you travel to Florida just once a year for a week or less, keep in mind that, in addition to the purchase price, your actual costs include insurance, real estate taxes, and upkeep on the property. It’s likely you’d be dollars ahead by simply renting a home. On the other hand, if you stay for weeks or months at a time (or eventually plan to retire in Florida, the investment looks a lot more practical.
Next question: Do I have a maintenance plan? Maintaining a vacation home in Florida needs to be considered, particularly if you live hours away. You’ll need to find a local to ensure that the property is well maintained and protected. Consider working with a Florida REALTOR® and property management company to outsource oversight. This approach can change the entire landscape, if it enables you to rent the home and turn it into an investment property when you are not using it.
And a vital question: How does the asking price compare? Very often, people visit Florida, fall in love with the place, then find what they know is the perfect house! That’s precisely why working with a Florida Realtor® is key: you need to enlist the knowledge of a local professional in order to get timely, accurate input on its actual market value and other issues that may impact the property. It is really the prudent way to protect your interests.
A thoroughgoing reality check makes buying a vacation home in Floridaa levelheaded and worthwhile decision. I’m here to make sure that happens!
Are you tired of scouring the newspaper and MLS listing sites looking for homes in Florida? Tired of playing telephone tag with Realtors only to hear the home’s already sold? Sit back, relax and let Bold Real Estate Group and our team of professional Realtors do the work for you! Just visit our website and check off the properties and communities you’re looking for www.BoldRealEstateGroup.com is FREE and there’s no obligation! or send us an email firstname.lastname@example.org for additional information on all the real estate services we offer.
Author Millie Gil: I have been in the real estate service business in Florida for many successful years and will be here for many more. This longevity and confidence comes from my residential lending and real estate services to great buyers and sellers, and their recommendations to others that result in repeat and referral business that keeps me productive and successful.
Doing real estate relocation is also a passion, by assisting transferees with every residential or commercial real estate need. I know that “Relocations occur for business reasons, but more often they succeed because of a combination of family needs that are met”. My commitment to my clients is that I work diligently and quickly to produce results. As a full service Broker-Owner of Bold Real Estate Group in Stuart Florida. I assist buyers, sellers, renters and investors in real estate transactions spanning all of the price ranges and property types. I am fluent in English and Spanish with a strong network of real estate professionals worldwide.