A
second home can be many things: a place to escape to on weekends,
a home to visit for the entire summer, a week-long destination a
few times a year, a ski get-away, or a place purchased for an upcoming
retirement destination. Finding the best location for your second
home or vacation destination is uniquely personal. While you're
researching locations, here are some tips to help you discover the
best place for your vacation home.
What Do You Want Out of a Second
Home?
Spend some time thinking
about what type of needs and desires a second home will fulfill
for you. Define the kind of lifestyle you desire, whether it is
recreational, social, community-based, or more private. Think about
how you spend your leisure time. Are there activities that you cannot
live without, such as fine restaurants, clubs, high-end grocery
stores and/or coffee houses? If familiarity is important, consider
areas where you have friends or family – a built-in community
– or spots what you have frequented over the years. Look for
locations that have the amenities that reflect who you are and what
you like to do.
Vacation Memories
Look at your old photo
albums and talk with family members about your favorite vacations.
What were your most enjoyable visits, and what activities did you
enjoy the most? Consider a second home in one of these places or
a spot that offers the same type of vacation activities.
Seasonality
Think about what the season,
or time of year, is your favorite and choose a climate that matches
your needs. If you are planning on using your second home all-year
long, make sure it has weather you can enjoy any time of the year.
Distance from Your Home
Determine how often you
will visit your second home and calculate the ideal travel distance
by car or plane. If you don't like to fly or the cost of plane tickets
is an issue, you should consider a property that is within driving
distance from your permanent residence. If you want to be able to
commute to your vacation home during the weekend, look for a property
within 200 miles from your primary residence – as this is
the maximum distance most people are willing to travel for short
vacations and weekends. Distance is also an important consideration
if your planning on hosting friends and family – think about
how far people are willing to travel and how much they are willing
to spend to get there. Another determining factor is vacation time.
If you have limited time off, you may want to take advantage of
the weekends and consider a place that is only an hour or two away
by car.
Long-term Use
It's important to think about all the use for your potential
second home. If you're considering renting your vacation home, make
sure you look for communities that are popular for renters. If your
house will be used in retirement, make sure the area offers all
the appropriate amenities that you will want and need for extended
usage.
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