6 Things to Consider When Buying a Vacation Home
What To Consider Prior to Buying a Vacation Home
Making the decision to purchase a vacation home is exciting. Aside from being a smart investment, buying a vacation home provides an escape from the ordinary and a gathering place for loved ones — not to mention a destination for you to retire when the time comes.
However, before making any final decisions on buying a vacation home, there are things to consider. First of all, ask yourself, where do you want your vacation home to be, and how much time will you be spending there? Do you have a set budget in mind, and if so, what is it? Answers to these questions and others like them will allow you to make an informed decision prior to purchasing a vacation home.
Let’s dive in and discuss the six considerations to keep in mind before buying a vacation home.
Determining where you want your vacation home to be allows you to narrow down your search and therefore your budget. Are you looking for a vacation home in the mountains, or on the coast? Do you prefer to see a change in seasons, or more consistent weather year-round?
Homes that experience a variety of weather conditions may limit the time you get to enjoy your home, especially if the weather is severe. Alternatively, homes that are located in areas with more consistent weather allow you the opportunity to plan your trips in advance and make the most out of your vacation home.
When choosing your ideal location, it’s also important to consider what’s nearby. Will your home be secluded from neighboring cities, or only a car ride away? If you’re planning to vacation with friends and family, it may be wise to look for homes with local events and attractions close by.
In order to choose your desired location, it may be easier to identify your budget first. To determine how much you can afford, we advise speaking with a financial advisor. They will be able to help you create a savings plan if you’re looking to purchase in the future or discuss your available funds for buying a vacation home now.
Either way, buying a vacation home will directly impact your finances, so it’s important to exhaust all options when preparing your budget.
Not every vacation home will come with access to specific amenities and events, so it’s important to decide upfront how much these luxuries mean to you.
For example, when someone purchases a qualifying home on Kiawah Island, they are granted access to The Kiawah Island Club. As a Club Member, homeowners have access to exclusive world-class amenities, private golf courses, five-star dining, and special Member-only activities, among other perks. The Club also offers luxury spa packages, kids programs, and more. Learn more about The Kiawah Island Club here.
If you’re an avid golfer or enjoy participating in specialty activities, buying a vacation home with amenities may be what’s best for you and your family.
The home’s surrounding community is also something to consider when buying a vacation home. What are the neighbors like? Are there community events for everyone to attend? Do you share the same hobbies and interests as your neighbors? The best way to answer these questions is by spending time in the location you’re interested in and getting to know the community.
Plan a few trips prior to purchasing to meet the locals and see first-hand what it would be like to live there. Sit down with the locals and ask them about the community. What do they enjoy most? What community events occur throughout the year? Is there anything you should be aware of?
Speaking to locals will not only allow you to get a better understanding of the community but also the people in it. If you don’t see yourself fitting in with the people who live there, it may be best to look for alternative options.
For those interested in living on Kiawah Island, we suggest working with your Sales Executive to plan an experiential trip to Kiawah. This will allow you to meet your potential neighbors and other locals, as well as experience what it would be like to call Kiawah home. As opposed to an ordinary trip, an experiential trip planned by your Sales Executive provides you with the opportunity to fully immerse yourself into the Island life and community. Contact us to learn more.
5. Ease of Access
Take a moment to consider where you live now and how easy or difficult it would be to travel to your vacation home. Is it driveable? Are there direct flights available? If you’re planning to visit your vacation home multiple times throughout the year, finding an easy-to-access home may make the most sense.
Search for nearby airports and major highways that would place you in close proximity to your home. This will make traveling that much easier, and steer you away from potential vacation homes that are too far away or too difficult to reach.
6. Home Type
Consider what type of home suits you best as well when buying a vacation home. Will you need a larger, single-family home with multiple bedrooms or a cozier cottage fit for two? Building a vacation home is also an option, and will allow you to customize your home to your unique tastes.
When deciding which home type is best for you, determine what the purpose of the home will be. Will it be a gathering place for friends and family, or a private getaway for you and your spouse? If there are extenuating circumstances, such as mobility concerns, you may want to consider building a vacation home to best accommodate your needs.
Unsure if you should build or buy? Read our blog, Build or Buy? 5 Reasons to Build Your Vacation Home, for more information.
Need Help With Next Steps? Talk To Us
What could be an overwhelming task, Kiawah Island Real Estate has turned into a streamlined and collaborative experience. Whether you’re still deciding where to buy your new vacation home, or have your sights set on Kiawah Island, our experienced Sales Executives can help.
Simply put, no one knows coastal real estate or Kiawah Island better than we do. Our location, amenities, and community are unmatched, and our variety of home types cater to any budget. Plus, Kiawah Island is merely a drive or non-stop flight away from almost any point in the United States, so traveling here is easy.
If you’re looking for a place to buy (or build) your vacation home, we suggest adding Kiawah Island to your list. We would be happy to have you.