How To Buy A Good Vacation Home
Learn the factors that comprise a good
vacation house. Here are three (3) tips to guide you through.
1. Choose a
location that suits your preference best. Do
remember that the location is the key to an excellent buy. No matter what your reasons are, whether
your intent is for recreational or retirement home purposes, always consider
the place where you want your second residence to be. More often than not, many
people will opt to have it within 60 to 120 kilometers from their primary
residence. For instance, if you live in Manila,
finding homes in Tagaytay or in Batangas City
may be a perfect choice for you. Before you seal the deal, ensure that you
visit the vicinity during both dry and wet seasons. In this way, you’ll
experience first-hand if it’s an ideal getaway during summer or rainy days. For
all you know, the roads are impassable in the months of November or December or
the stores are open only on the peak season. Get to know the area and explore
the neighborhood. Is it near a frequented spot?
2. Weigh its rentability
potential. Do you think that in the future, you
can make a profit from renting it out to vacationistas?
It is understandable if you’ll have no immediate plans to make a Philippine investment out of it and instead use it for future generations. Keep in
mind though that as more people get interested to rent the place for themselves
during the holidays, its value increases along with your money’s worth.
Therefore, when shopping for a property, treat it as if it is a venue for
recreation. How convenient is it for prospective visitors? Is it just an hour
or two hours away from the city? The closer it is to the metro, the easier to
check it out at any time and do proper repairs and maintenance. Does it have
hot tubs or swimming pool? What amenities are currently being offered? Always
develop an investor mindset.
3. Do not overlook
other expenses. Include the following in your budget –
tax, insurance, utilities and caretaker, repair and other carrying costs.
