Southern California is a beautiful spot to vacation and stays that way most of the year, with the area being known for perfect weather situations and beautiful beaches and ocean views. There is something for everyone in southern California, from theme parks and resorts to camping and endless outdoor activities.
If you are looking for a vacation home in southern California, there are many things to keep in mind before purchasing a property. Your vacation property should be a sanctuary that you can escape to when you want to, instead of something you have to worry about constantly like other things in your daily life. With these considerations, here are some tips for buying a great vacation home in southern California.
Figure Out What You Can Afford
Owning a second home is great if you can afford it, but you have to keep not only the cost of buying the property in mind, but also the costs associated with homeownership. Upkeep, bills, furnishing the home, and many other things need to be taken into consideration before deciding on a property cost you can afford. Once you have a number in mind, you can start looking at properties.
Research Your Location
You may think you already know the spot you want for your vacation home, but unless you have visited the area many times already it is in your best interest to spend some time in that location before you buy. Pay attention to amenities you want to have around during your vacation. Do you want a lot of parks and natural space nearby? Do you want to be close to the beach? Would you rather be in a large city, with easy access to attractions and hotspots? All of these will make a difference in your ideal vacation home location.
Find a Great Local Realtor
No matter the area where you are looking for your vacation home, finding a realtor who is local to the area will be a great benefit to you. Local experts are going to be automatically familiar with the local laws and regulations, and have more education and experience with the area. So in whatever location you are looking for a great realtor in San Diego, Santa Monica, or even Palm Springs -- trust that they will be more helpful than your own local realtor.
Make Sure Your Vacation Home Fits Your Lifestyle
Despite popular belief, you do not have to own a major primary residence to have a vacation home. You may prefer condo living, or even live in an apartment regularly, and want a vacation home to escape to after your workday city life. Or you may be more interested in a location that keeps you in the middle of the action while you are on vacation. Whatever the case, get a good feel for your vacation home before you purchase it, to make sure that it fits what you are looking for.
Decide How You Want to Use It
Is your vacation home going to be an investment property or a residence only for you? If you want to rent out your vacation home when you are not using it, there are important things to consider when you are getting your loan for your property, including how tax breaks are different and different loan options that may or may not be available. If you will be using your vacation home as a secondary residence, tax breaks and mortgage rates are the same as they would be with a primary residence.
Determine If You Need a Property Manager
If you are going to keep your vacation property up with a property manager, it is important to keep that in mind when you are budgeting for your rental property as well. Property managers for rental companies can be expensive. If you are interested in a property manager, do your research and look at what other people are saying about that property management company so you have the best option in taking care of your property.
If you are ready to own a vacation home, with a little planning and forethought it can be a great investment into your leisure time. If you are just starting, go out and look for great ideas in interesting vacation spots around the world to help make your dream a reality. And in turn, you can finally find yourself enjoying the vacation home of your dreams!
