The key to Buying Real Estate in a Resort Community by Pat Melfi
The allure of a relaxed and carefree life in a resort community proves irresistible for many individuals. There are thousands of men and women who purchase a property in a resort community either as a vacation home or to live happily after retirement. If you have ever thought about buying a property in a resort community after spending memorable holidays there, it is very much possible. Here are some factors to keep in mind when taking this step.
Make sure it fits your lifestyle
If you are buying a property in a resort community to have yearly vacations then you need not bother about the lifestyle needs. But if your objective is to utilize the property as your primary residence, then you must do your research into the area and the people before buying the property. In addition to a qualified realtor, it is prudent to talk to the local people to enquire about crime rates, the quality of schools, and other important amenities. Do not forget about social opportunities as well as healthcare facilities especially if you are approaching retirement.
Check out the resale value
Properties in resort communities can be very costly these days. The way developers are adding features and amenities in their properties, the prices of homes and apartments in these places are touching the rooftop. It is important to make sure that the prices will continue to appreciate in future if you are buying a property mainly for the purpose of investment. Also, find out the rental rates in the community where you are buying the property. It is a good destination for you if there is prospect of decent rental income as it will help in covering the high cost of vacation as well as high property taxes in such places. It will also take care of annual maintenance and repairs.
Take a decision after visiting during tourist off season
There are many resort communities that come alive with the activities of tourists during peak season. But the same communities wear a deserted look during off season with no or very few tourists coming over. It is prudent to pay a visit to the community during off season to get an idea of life in general. If you are OK with the idea of a quiet place with little to do and enjoy during large part of the year, then you can move ahead and buy the property in the resort community.
It is always a good idea to hire services of a local, experienced realtor if you are interested in buying a home. We4 are Certified Luxury Home Marketing Specialists. We are her to serve members of our communities in Utah. We offer a NoteWorthy Experience. See what our clients say about us on our home page.