Why Buying a Vacation Home Might Be No Holiday

Why Buying a Vacation Home Might Be No Holiday | Utah Listing Pro | Buying tips, Vacation home, Beach house, Holiday home, Things to consider

Stop if this sounds familiar: Summer’s coming to a close, and you’re feeling wistful. The long, lazy days in your favorite vacation spot will soon be a distant memory. But then a wild idea comes to you: 

If you just buy a place in your chosen getaway destination, the fun doesn’t ever have to end, right?

Before you drop a wad of cash on a vacation property, you should be certain that this is right for you. Oftentimes, people don’t realize the level of commitment – financial and time – that it takes. Check out some of the most common reasons that it may very well stress you out:

  •  Vacation homes often require a larger down payment.
  • You might need special insurance.
  • You’ll need to pay someone to be on speed dial – someone local to oversee the property for you.
  • Routine maintenance costs time and money.
  • Renting out your vacation home can actually cost you money – for instance: utility costs, lawn care, snow removal, pool maintenance; cleaning fees.
  • You’ll spend a small fortune on furnishing and stocking the place.

Your passport could gather dust!