Are you toying with the idea of a lakefront, ski or beach getaway? Are you afraid to stick your toe in the pool of vacation homes? Think it's utterly impossible in today's market?
Well dust off your kayak and let's dive in.
Sticking close to home or across the country?
The Finger Lakes are right in our own backyard, so you might not have to look too far! Consider a lakeside retreat that might double as a ski chalet in the winter.. Perhaps on the wine trail with a view of the changing seasons. The good news is, not everyone is in the market for a second home or vacation rental. (Whew, finally some good news in this crazy market!) So chances are, you'll be able to find a little gem that fits your needs.
What about escaping to the shore? (that's the beach for you non east-coasters) We got you covered.. Our team has partners across the country to help you with the search. Just reach out and we'll get you started. You can also utilize sites like Mashvisor to find popular areas for rentals, if you plan on Airbnb'ing it. Just remember to take your locally referred agent on the hunt with you! Nothing beats local eyes on the prize..
How DO YOU intend to use your property?
Will it be a vacation home for you, or a rental as well? First thing's first, talk to your lender (if you need one) about the different loan options. Some banks offer Portfolio programs like GRB Bank. This might open up a whole new world of options for you.
Understanding the TOTAL COST of owning it.
Determine what you can afford, then find a lender to formally analyze the cash available for down payment, closing costs and reserves. Don't forget to plan for personal budget items that lenders don’t use in their qualifying calculations:
Gas, electric, cable TV and internet
Furniture and housewares
Travel costs to your vacation home
Total cost of property maintenance items, like cleaning, landscaping and pool/spa upkeep
Are you a lookie-loo?
The number one thing you need to do is... GET STARTED. Stop stalking your dream vacation house and make a move. Call us, your preferred lender or one of ours, but get started. Vacation waits for no man.. or women!