If you find yourself returning to your favorite vacation destination several times each year, it may be time to invest. When you own a vacation home, you can come and go as you please without worrying about reservation dates or rental fees. While there are many benefits to buying a vacation property, use this guide to review other important factors when making a final decision.

3 Factors to Consider When Buying a Second Home

1. What Is Your Budget?

Your financial situation is the most important factor when considering purchasing a second home. Review your budget to determine how much you can realistically afford to spend. Don’t forget to factor in unanticipated expenses such as taxes, insurance, utilities, HOA and condo fees, additional furnishings, and seasonal gear and equipment for outdoor recreation or water sports. You will also want to consider the cost of routine maintenance and emergency expenses, such as repairs.

2. Can You Rent It Out?

Many homeowners will choose to turn their property into a vacation rental when they're not using. Doing so can help offset mortgage costs and utility expenses.

Renting your home also comes with its own share of considerations, including whether or not your home is zoned for short-term rentals, in addition to managing renters or hiring third-party property management.

3. What’s Your Ideal Location?

When choosing a location, keep your interests in mind, as well as the reason you're buying. For instance, if you're an outdoor enthusiast or someone who enjoys fishing or boating, a lakefront cabin might be ideal. Also, consider the distance between your vacation home and your primary residence. Is it close enough that you could travel there for a three day weekend? Is it a location you would want to visit all year round? Don’t forget to factor in any travel expenses associated with taking a trip to your new home.

Invest in recreation, relaxation, and lakefront living with vacation homes and rental properties from Heritage Land Co., in Susanville, CA. Their properties are located on beautiful Eagle Lake and provide access to a host of amenities, including fishing, boating, and outdoor exploration. Contact them at (530) 825-2131 for more information and view available properties online.