Latest Articles

2010-10-22 13:25:08

Can a House That Causes Stress be Termed a Vacation Home?

<p>A place for living is a must for all but  none really needs a second house as a vacation home. It is however fun to  choose a vacation unit and purchase one. But unfortunately afterwards it  becomes more a reason for stress rather than vacationing joy.</p>
<p>A couple owned a condo in <a href="http://www.foreclosurewarehouse.com/homes/FL/">Florida</a> at  <a href="http://www.foreclosurewarehouse.com/homes/FL/COLLIER/NAPLES/">Naples</a>. They have a cantankerous neighbour. In Floridian <a href="www.foreclosurewarehouse.com">real estate</a> lingo he  is termed a ‘condo-commando’ – a nosey parker who finds out all he can about  others and then regularly tattles to the condo association about them.</p>
<p>Bad neighbours are a common problem but  they seem to be especially a nuisance when one goes to a place to relax where  the only occupation of the vacationers is to ski slopes, surf the waters or put  up one’s heels by the hearth.</p>
<p>Luxury Institute researches on wealthy  property owners. The CEO Milton F Pedraza said, “People become slaves to their  homes. They buy into the headlines and that makes them pretty miserable with  their vacation homes”.</p>
<p>Misery with second homes is quite common.  This is because the purchasers did not anticipate how much effort and dollars  would have to be spent to maintain a unit that is far away – perhaps hundreds  or thousands of miles away. </p>
<p>Prior to purchasing second homes the  purchaser should answer some realistic tough questions. Is it absolutely  necessary to have a second home? What would it be used for? Does one have a  clear conception of the money involved to maintain it?</p>
<p>Many parts of the country are struggling with  tumbling property prices. A survey has been conducted at this juncture by  National Association of Realtors about second homes. According to them the sale  of such units have spiked by 7.9% in 2009 in comparison to 7.1% increase of  sale of primary homes. This is the season when people hunt around for winter  rentals that often become second homes.</p>
<p>Before sealing a deal certain points should  be considered so that the second house does not become a vacation home but a  source of stress and anxiety.</p>
<p>The recession has taught the lesson that the  second home should not be considered as in investment; it is possible for  property value to go down – something thought impossible for quite some time.  In all calculations the maintenance costs should be taken into account.</p>

Recent Posts

Next Videos

Related Post

Industry, Education

Negotiating Tip 110: Standard Practice

March 25, 2019

Industry, Education

Negotiating Tip 109: Silence: A Success Story

March 24, 2019

Industry, Education

Negotiating Tip 108: The Concession Mechanism

March 23, 2019

2019 Real Town The Real Estate Network