Are you searching the real estate market in Orange for the best vacation home? We’ve compiled a list of some of the most important issues to consider, coming from some of the most knowledgeable real estate agent sin Southern California.
Beware of any joint ventures when home-buying.
If you’re looking to buy a vacation home, it is common for people to go in on it with another family or some friends. If you decide to do this make sure to have an attorney draw up a partnership agreement. When dealing with large stakes you want to make sure to be prepared. Business and finances can change relationships; unexpected divorce or life changes may occur. Having a buyout agreement in advance is one of the smartest decisions you can make if you are considering a joint venture.
If you’re buying a vacation home with the intent to rent it out while you’re not using it, look for a home by the water. Some people make more by renting their house out during the few short summer months, than they do from the whole rest of the year combined. The demand for vacation rental homes close to the water, during the summer is huge! But make sure to be aware of any rental restrictions by the city or the homeowners association in the area you are looking to buy.
Take into account any extra costs
If you aren’t planning to live in your home the majority of the year and you aren’t going to handle all of the work on the rental, then consider getting a management team. You need people who can manage the property’s condition, take care of any repairs, as well as deal with utilities, maintenance, and landscaping. If you are buying a vacation home, chances are you wont be around to take care of these issues, but they are very important. Get a local tem together who can take care of all the house’s management factors. When doing this know how much to factor in for these extra costs.
Keep it stress-free
Most people like to have a vacation home that is between 45 minutes to a couple of hours from their permanent residence. Having a vacation home is supposed to make it easier for you to get away, rather than having to plan a 1000-mile airfare and taxi rides. If you’re living inland from the coast in Orange County, simply buying a vacation home on the coast can be all you need to get that escape from your busy, every day life. And buying closer to your home like this will allow you to take more frequent trips to your vacation home, even if you just want one quiet night on the beach during the week after a long, stressful day at work. For these reasons, buying a vacation home closer to you can be an ideal purchase.
Choosing the right beach
When looking for the best beaches to live by there are a few considerations to have. Do you want a busy beach with a lot of traffic and social life? Or do you want a quiet, tranquil beach where you can peacefully relax by yourself? Do you want to be right on the sand or a little more inland? In Orange County, beachfront homes can be anywhere from 50 to 500 feet from the sand. Make sure to look at the small details in owning beachfront property to make sure you get the best home you’re looking for.
Don’t isolate yourself entirely
Isolation could be exactly what you’re searching for in a vacation home, but take into consideration the resale potential. Most people in Orange County don’t want to be remote. They’re usually searching for a place where they can enjoy the Orange County atmosphere, visit fancy restaurants, explore the trendy shops and experience the social life. Although some also look for a tranquil home, most vacationers look for destination resorts. They want something close to golf courses and oceans, some sort of attraction. So take this into consideration when choosing your location because although you may want isolation now, you don’t want it to become a burden years from now when you’re trying to sell. Make smart decisions when choosing your vacation real estate.
Buying a vacation home can be emotional process, but there a re many considerations needed to ensure you make a smart decision. Take the time, have the patience, and do your research. It will all pay off in the end when you have that beautiful property you’ve been wanting. Your Orange County vacation home awaits!