If you purchase the right property at the right price, vacation homes are a smart investment that can bring you a lot of enjoyment over the years. The team at Sugar Sands Realty & Management Inc. has helped numerous clients purchase their dream home in Orange Beach, AL, and along the Gulf Coast of Alabama. Below, they share a few of their recommended tips for making the right purchase.

A Real Estate Agent’s Guide to Buying Vacation Homes

1. Consider Your Priorities

Is it more important to you to have a home that is ideal for your personal use or would you rather have higher rental income from tourists? You’ll need to consider your goals in purchasing this home to determine what type of property you buy and where you buy it. Choosing your location wisely may allow you to achieve both goals. For example, many areas along the Gulf Coast are desirable to tourists year-round, so you can feel confident that it will often be rented, and you can enjoy a beach vacation whenever you like.

2. Visit First

If you have an area in mind, try a vacation rental there before committing to a purchase. Do at least one extended stay and visit in the different seasons, so you understand the weather patterns and the cycle of the local tourist industry. This will help you know whether you like the area enough to visit repeatedly. Take this time to explore different neighborhoods so you know which part of town you like best.

3. Buy With a Budget

Set a budget and stick to it. Do some research on rental condos or homes in the area and be conservative in your estimates of income. You don’t want to rely on filling the property all year long to afford the mortgage, and you don’t want to lose that wiggle room in your budget for repairs and other unexpected expenses. 

When you’re searching for the perfect beachfront real estate, the team at Sugar Sands Realty & Management Inc. can help you sort through all the vacation homes of the area to find the one for you. They know the area well and will be able to provide priceless advice on finding a home. Contact them at (251) 974-1672 to talk with an agent today or visit their website to learn more.