November Newsletter

5 things to consider when buying a vacation home

With winter just around the corner and freezing temperatures arriving early in many states, some may be thinking of their future dream vacation home. According to the National Association of Home Builders, 7.4 million Americans own a second home as of 2016. Most of these buyers will fall between the ages of 62 and 91 according to the 2017 National Association of Realtor’s Investment and Vacation Home Buyers Guide.

Here are five things to consider when eyeing up the housing market for your vacation home.

  1. Understand your budget

Before getting serious about the vacation home buying process, it is important to fully understand whether or not your budget has room for the purchase.

Not only should you be considering what can fit with your current financial situation but also what may happen if unexpected costs arise or if the housing market changes rapidly. These are great conversations to have with your financial advisor to gain a clearer picture of potential scenarios that may impact your decision.

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