Choosing a Location for a Vacation Home

Choosing a Location for a Vacation Home

There are so many factors involved in choosing a location or even a country for a vacation home. How does one make that decision? There is bound to be an intelligent way to choose; but this is an emotion based decision. Does intelligence matter? I think it does. The heart has to have veto power though.

The activities desired has to be the first qualifier. Make a list of things to do on vacation. Make a list of places to choose from. Match up the two lists. Hopefully this will narrow the choices down some. Costs may or may not be a big factor. Check the airfare from home to the vacation home. Some places are accessible by car. What is the expected mode of travel. Golf clubs are not too bad on an airplane. Surfboards are tough. Windsurfers, kayaks and canoes are probably impossible. Can they be rented at the location; or can you store one at the vacation home.

If the vacation home is to be rented when not in use a financial analysis is a good idea. If it is not to be rented, how will the property be secured when it is not in use. In many places leaving a property vacant is like putting up a “move in free” sign. Getting a property back after someone moves in is nearly impossible. Possession is so hard to get on an occupied property that some places even offer “tenant insurance” to cover the rent and costs if a tenant quits paying and refuses to move.

What about security? Capital flows to the highest yield with the lowest risk. A person willing to acquire a property in a less secure environment can expect to pay less for an equivalent property. What type of risk are you willing to take? Nicaragua is a bargain if you are not afraid of Daniel Ortega. I personally do not think he will kill the goose that laid the golden egg. He may even make thing better.




David Segrest is a REALTOR with Segrest International REALTORS. His webpage is http://www.segrestrealty.com