In 20117 an overall analysis of Buyers who search for homes on the internet was published by the National Association of Realtors. This graph shows a good outline of the typical Buyer in our nation and what they would be looking for in a home.
Interesting are the reasons for purchasing a home. Obviously everyone’s needs are different, but desire ranks the highest!
Trends were families are moving into together and women are increasing in their buying power.
Where do you fall in the typical of American Buyers?
Let the GreatFloridaHomes Team assist you in narrowing your focus to find the best opportunity for you!
With the freedom of retirement, travel and vacationing become much easier. With the ability to enjoy longer trips comes a quandary. To buy a vacation home in your chosen area, or to continue renting for extended periods of time?
How to Know if You’re Ready
Invariably, owning a vacation home is going to take more time and money than you anticipate. If you decide to rent the property out when you are not using it, you will have to have it cleaned between guests. There is also the maintenance to consider. Also, it may not be best to buy a home outright. You don’t want to spend all your disposable cash on a home and then have nothing left to enjoy.
It is better to have a mortgage rather than spend all of your cash on a home so you have money to spend on taking advantage of your retirement. You may have to dress the space up, which is another expense. You can save some money by focusing on furniture rather than decor because renters are more concerned with comfort and functionality than artwork and knick-knacks. Consider getting beds with storage units underneath so you don’t have to buy a chest of drawers for every room; a dining table with a removable leaf insert that can be expanded for multiple guests; and a chaise sofa sectional, which works well in any shape of living room, comes in endless styles (and accommodates all kinds of budgets), and can function as both a spacious living room couch and an extra sleeping space for overnight guests.
Still, the nicer the home, the more you can charge for its rental. If you have sizeable savings, and you have more than enough time to thoroughly make use of the vacation home, it can be a great way to spend your travel rather than springing for a hotel or renting a vacation home yourself.
How to Pick a Location
This largely comes down to what you are looking for. If you will not be renting the property, you are free to pick the location of your choice. Do consider proximity to attractions of interest, and possible friends or family. It’s also wise to look at the surrounding area. If you want to vacation in Yucatan, Mexico, it may be more viable to buy a property just off the beach, but in an area close enough to visit it, like Merida. However, if you plan on renting out the property, there is much to think of. You will want to consider somewhere that has tourism year-round, so you don’t have a vacant property for months on end.
If that is not possible, then figure out when the tourism season takes place, and how much profit you would make. From there, see if that would cover expenses in the slower months.
How to Maintain the Home
This may be your most difficult aspect of owning a vacation home. If it is not within easy driving distance, maintenance will become a chore best managed by someone else. You might hire a property management company to handle the home. They will clean and make repairs as they arise but might be more expensive than you are looking for.
Also, if you are renting the property out, they will handle the distribution of keys, and cleaning between guests. If you’re on friendly terms, you could ask a neighbor to keep an eye out or pay them to check in on the home every couple of weeks. Of course, you could also hire a housekeeper or cleaning company to stop by monthly and tidy up the home. There is also the option of having a local handyman stop by at set intervals to perform touch-ups on your property.
How to Keep Insurance Low
When owning multiple properties, you will want to do everything to save money. Part of that includes keeping home insurance rates low. You can bundle your auto insurance to see some savings, but don’t discount looking at multiple providers to find the best rate. Raising your deductible is a good means of paying less monthly, as is making sure that you are not over-insured. Your insurance company may offer discounts if your home meets certain requirements, including if it’s disaster-resistant or up to date with its smoke and carbon monoxide detectors.
If you’re already familiar with the buying process, there is no mystery to making a purchase. There are many options available for maintenance of a long-distance property, so don’t let that worry you. If you have the proper savings and a stable income, this can be a beautiful new chapter of your life just waiting to be explored.
Article Compliments of Jim McKinley @ firstname.lastname@example.org
As summer goes on, while tans are still being perfected, and vacations are just starting to heat up, 4th of July is most definitely on our minds. Besides the barbeques and the family and friend reunions, the most spectacular and arguably most important part of the holiday is, of course, the fireworks. But it can be hard to find the best place to truly enjoy all the quintessential-American spirit, pride, and grandeur that the holiday has to offer, which is why we broke it down for you. Here are the top 10 best places to watch Firework displays and have a great 4th of July celebration in Broward and Palm Beach Counties.
Fort Lauderdale: Fourth of July Spectacular
Coral Springs Fourth of July Celebration
Davie Annual Fireworks Show
Deerfield Beach 4th of July Celebration
Hollywood Beach Fourth of July Celebration
Grand Funk Railroad in Sunrise
Freedom Fest in Hallandale
Miramar July 4th Celebration
Pembroke Pines Independence Day Celebration and Fireworks Show
Pompano Beach – 4th of July Fireworks Extravaganza
The City of Coral Springs and AARP are proud to offer the Smart Driver Course for seniors. Participants who successfully complete the course are provided with a certificate for their auto insurance agency.
Insurance Discount: Participants who successfully complete the course will be provided with a certificate for their auto insurance agency. Please contact your insurance provider to see if completing this course would qualify you for a discount. To register, contact 954-346-1393 or click below:
It’s the giver of their heart that is the soul of success in the growth of others. Mary Boast is that giver. A long time member of Kiwanis & known as, “Miss Mary”, to her 4-6 year old charges at Safety Town where she has instructed over the last 24 years, on how to remain safe at home and in school.
The Broward County Historic Preservation Board during their 44th Annual Pioneer Day honors consummate volunteers in the counties 31 cities.
Mary Boast, a long time Coral Springs resident has inspired children and families for over 30 years. As her city prepares to celebrate its 55th Anniversary, it is important to recognize volunteers like Ms. Mary who continue to make Coral Springs a great place to live, work & raise a family.
Congratulations to Mary, a respected Pioneer and Volunteer!
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