Over 5 million homes in America are vacation homes.
Many people want to own a vacation home in Destin, Florida but they’re overwhelmed with the process of buying a second home in a remote location.
Your mind is buzzing with excitement and questions, and you want answers you can trust.
Lucky for you, Rodos Advisors powered by eXp are here to answer them for you! Let’s see how you can fulfill your dreams of owning a Destin vacation home.
Set Your Budget
A necessary first step toward looking for a dream home is to establish your budget. Preparing a budget helps you begin a search specific to your expectations, keeping in mind the various costs of property ownership.
Mortgage
If you’ll mortgage a vacation home, take into consideration that requirements can be more strict on second homes and investment properties.Consult multiple mortgage lenders in the area to see which gives you the most competitive rate and terms.
You may wish to use a loan calculator to estimate monthly payments and payoff strategies. Use it to estimate what price home you can afford.
Taxes
Taxes can vary from county to county and even within locations of a county, so take this cost into consideration when determining where to find a vacation home.
Housing Expenses
Homeownership includes more than just the note and taxes.
Some vacation home costs considerations include security systems or employing a caretaker or property manager who can access the house when you’re gone.
You should also consider utility costs such as electric or gas, cable/internet, water, and trash.Your new home may be part of an HOA, which has monthly fees. These fees may or may not include lawn care. Some condos require purchasing a parking space.
Some homes are sold furnished and equipped with appliances like a washer and dryer; but if you prefer to outfit your new home with your own selections, don’t forget to add these expenses to your budget.
Once you have a solid budget in mind for buying a vacation home, you’re ready to start looking.
Where Do You Want to Own a Vacation Home?
The beauty of buying a second home is that it fits a different need from your primary residence. Want a low maintenance condo overlooking the water or do you prefer a traditional home large enough to entertain house guests?
There are many areas in and around Destin that offer vacation homes for every preference and price.
Look for Destin Real Estate Agencies
When buying a vacation home, you’ll want to partner with a local real estate agency that knows the area. Experienced agents help you navigate unfamiliar markets and can help you find a home that fits your needs in locations you may never have found on your own.
Rodos Advisors powered by eXp are experienced real estate professionals familiar with the Destin area. We welcome the opportunity to help you find a vacation home, primary residence or investment property. Contact us today to start the conversation.