Lifestyle and Location Survival Guide : Episode FLSUR-110
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 A "For Sale" sign could be your opportunity to own a vacation home.
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Buying a second home has become one of the fastest growing trends in the U.S. In fact, more than 30 million Americans are expected to enter the second home market within the next decade. It can seem like a daunting task, but with a few essential steps you can learn how to turn buying your second home into a sane, reasonable venture.
Assess Your Lifestyle
- Think about what spot you love the most and the amount of time you will be spending in your vacation home.
- If this house will be for weekend getaways, anything more than two hours may seem like a long trip.
- Condos have relatively low maintenance, making them a good option for those using their homes one season a year, or for those who want a place farther away from their primary home.
- When considering a condo, find out whether you can live with the homeowners' association rules.
- With a single family home, you will have more privacy but you'll have to handle all the maintenance.
- Many hotels are now providing rooms as condominium hotel rooms. These offer all the services of a hotel, but yet you're still able to benefit from the appreciation of that property over time.
Location, Location, Location
- A good indicator of a great town is its public school system, so even if you'd never use them, it's worth checking them out.
- The best way to spot the up-and-coming neighborhoods is to drive around the area that you like, and go further out the homes in these areas will likely see their value increase as well.
- Find out from local people how the town has changed, what's being built and what types of people are moving to the area.
- Pick up the local paper to obtain information about political issues, tax issues and more.
- Visit your vacation spot during each season to get a good idea of what it's like year-round.
- If you might retire in your second home one day, make sure that there is quality, accessible health care nearby and that the environment is both safe and affordable.
- Find out if there are enough places to pick up part-time work if you want or need to.
- It's always important to check out the weather, especially if you plan to use for all seasons.
- Think beyond the price tag of the home itself:
- Check out the area public schools.
- Consider neighborhoods just off the beaten path.
- Rent two or more years in a row to get the true flavor of a place.
- Do a test drive to the location at peak times, look for alternate routes.
- Ask yourself the following:
- Do you love one spot?
- Do you have enough time?
- Is it close enough?
- What can I afford?
SmartMoney.com
www.smartmoney.com
Kiawah Island Resort
12 Kiawah Beach Drive
Kiawah Island, SC 29455
843-768-2121
www.kiawahresort.com
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