Poconos Vacation Homes are in high demand and for good reason.
Vacationers often spend time peering into real estate agency windows when they are on vacation trying to get a feel for the market. Price, location and features are where the dream of owning their very own weekend escape start. A home away from home, somewhere they can totally relax and enjoy themselves, as opposed to renting someone else’s dream house.
These people like the idea of personalising there vacation home, making it comfortable and not having the headache of packing for the vacation or getting it all into the car for the return trip. It is the peace of mind knowing, everything you need for your vacation is there from the moment you walk through the front door of your vacation home.
It is important however not to confuse a vacation home with an investment property. Investment properties are all about capital growth and the return on your investment. However, purchasing a vacation home is not about dollars and cents; it is about leisure time, lifestyle choices and the family benefits a vacation home offers.
While vacation homes can also generate a rental income when you are not using them, you have to factor in, low occupancy rates in the off season and the fact your property will be in high demand during school break and holidays, a time when you would most likely want to use the vacation home yourself.
Vacation home buyers often make purchasing decisions based on emotions, they don’t buy in the highest capital growth area and they are not looking at tenancy rates or what tourism and industry support the local economy. They buy the home away from home because the concept of waking up each morning in a serein and peaceful environment free of all the hassles of everyday life is a dream we all share.
Vacation home dos and don’ts
Summer is the season for vacation house purchases but before you take the plunge there are some important rules of thumb:
- Contain your search to properties within a three-hour drive.
- Ensure you can survive the lean periods. Don’t base your loan repayments on regular rental returns because there are sure to be quiet months.
- Look for a property that’s in good shape. You don’t want to be spending a small fortune on repairs.
- Aim for a deposit of at least 20 per cent. It’s not essential to own another property before buying a vacation house, but it is crucial to have a meaty deposit.
- Choose a house with an ample kitchen.
- Speak to local agents and research online booking sites to get an idea of what you need.
- If you intent to rent the house when not being used by you or the family make sure vacation house destination has a proven rental market?
Poconos Vacation Homes
If you love fishing, boating and water sports and in winter skiing or snowboarding all within a two hour drive from New York then you need to consider buying a vacation home in the Poconos.
Who better to talk to about finding that dream vacation or even a retirement home in the Poconos than Pocono Homes Real Estate? So don’t spent time dreaming or peering into windows, give us a call and let us arrange to show you a selection of homes that suite your needs.