From Apalachicola to Windmark Beach many of the towns in the Forgotten Coast area of Florida are seen as great spots to vacation for those that want a relaxing and quiet getaway. So many people that visit here love it so much, in fact, that they purchase a second home here so they can keep coming back to their very own piece of tropical paradise.
Before you take the plunge of moving to a dream destination or taking on a second vacation home, there are some things to consider. Here are some pros and cons to help you process the decision.
Less stressful than finding a rental: when you own the house you have the freedom to decide when you are going to go and for how long. No more being the first one to beat out everyone else in peak season to that favorite waterfront VRBO or having to cut reservations short.
You will actually take a vacation: when your vacation home is an investment you will be more inclined to use it and actually go on that vacation instead of skipping it and continuing to plug along at work.
Possibility to Retire There: when you own a second smaller home you have the opportunity to easily downsize and be in your dream spot all the time.
Passive income possibility: you can rent out your home to other vacationers when you are not using the home if you want to, this can also bring some tax benefits as well
Vacation is good for you: we all need to get away and take a break from the stresses of work and everyday life once in a while, it is good for our health
Cost: this one is obvious, a second home is going to cost more money and make you legally responsible for more payments including mortgage, taxes, utilities, HOA fees if applicable, maintenance, insurance, etc.
More work: keeping up a home is more work than just going to someone else’s home or a hotel where you can just come, use the property and leave
Going to other destinations: owning a vacation home is a big commitment to retreating to the same spot most of the time, it narrows the opportunity to spend money on vacations in other spots. If you enjoy adventuring to brand new destinations this may be something to think about.
Some Second Home Buying Tips:
If you really love a destination so much you are considering buying a home there, make sure to go visit it more than once so you can really decide if you truly love it.
Location: finding a great neighborhood for a vacation home could be a little tricky. Consider what is close to the hotspots you love and seek out the best neighborhoods close to those spots. The point of a destination home is to improve your quality of life not resent or think about what you don’t like every time you are there.
Future needs: what do you see yourself doing on future frequent visits? Will there be more family members in tow on later vacations, will you need room to grow? Consider the things you may want and need later down the road
Choose a Local Realtor to Help: hiring a realtor that knows and works in the exact area you are looking for a home is the best choice you can make before you purchase a dream home. They can tell you in-depth info and help you with more things to consider in making the best home-buying decision for you.
For more information on Homes for sale in Apalachicola and the rest of the Forgotten Coast or specific neighborhoods and nearby beaches please contact us any time. We would love to help you find that dream home. We are here to help you find just the right Forgotten Coast home.