After settling down in your home, you start thinking about how to spend your time when you’re away. Spending days traveling is great, but sometimes we wish for a base. Somewhere we want a place to come back to any time we want and relax away from our daily routines. A home away from home seems like a perfect solution. Picking a favorite location and purchasing a second home there is the dream of many families. However, it’s not easy to make this decision – it’s a costly investment and takes time and effort to maintain. But, buying a vacation home surely has its benefits, and we’re here to help you decide if you should go for it. Let’s see if it makes sense to buy a second home in Virginia in 2021 and provide your family with a fantastic place to spend future vacations.
What are the factors that may stop you from buying a second home?
Every purchase has its pros and cons. When it comes to buying a second home, the factor that worries most buyers are the costs. Making your dream of having a second home come true possibly requires a new mortgage, but also maintenance costs. Second homes need regular maintenance, furnishing but also paying unexpected costs whenever they come up. Finally, if your first house is located far away, visiting the second home frequently comes with increased travel expenses.
Remember: Make sure you evaluate your budget carefully before purchasing a second home. Even though this investment comes with additional costs, it shouldn’t be a heavy burden on your budget. Include all the factors and expenses, including taxes, which apply differently to owners of vacation homes.
Even though they have a lot of benefits, vacation properties can cost a lot.
It’s a permanent holiday destination
Another reason why people hesitate to buy a second home is related to traveling. When owning a vacation home, you hardly ever decide to go somewhere else, which may become monotonous over the years. However, families who love peaceful vacations and a homey base will surely love having a place to go whenever possible.
Reasons why buying a second home in Virginia makes sense
If you decide to buy a second home in Virginia in 2021, you need to consider all the pros and cons. However, we feel that all the advantages will win over. Let’s go through all the benefits that will show that this decision actually makes sense.
It’s a home away from home
Even though this seems like just a phrase, owning a second home means heaving a retreat from daily tasks – any time you want. If you decide to buy a second home, pick a location where you can truly enjoy your days off – and Virginia has a lot of them to offer. This way, you can be sure you can have a weekend getaway or a longer vacation in your favorite location where all the daily chores, work stress, and other problems simply disappear.
With just a short ride away, you can have a home away from your home.
You can save on vacations
Having somewhere to go anytime you need a vacation can save you money, too. You don’t need to spend a lot on hotels, flights, etc. This way, you can have a great vacation – on a budget. Furthermore, the previous year and the global pandemic have prevented people from traveling abroad, so many of them decided to buy a second home within the same state. This is usually far enough to change your environment, but not travel too far away from your home.
If you plan on renting it as a vacation home, it makes sense to buy a second home in Virginia.
Second-home can become a source of income
Another budget-related advantage of owning a second home is earning from rentals. This investment can become a steady source of income despite some additional expenses that rentals have. However, what worries buyers is the global pandemic that stopped travel and reduced rental revenues. Hopefully, the pandemic is coming to an end, which is why it makes sense to buy a second home in Virginia in 2021.
Ready for the big purchase?
Buying a second home in Virginia is so exciting, but picking the best location may be challenging. Many interesting nature spots can be a perfect retreat for your family. Do some research and choose the place you will enjoy the most. The next step would be purchasing the property and moving in.
With both of these, make sure you trust the professionals. Local real estate experts will ensure you find the best property, as they are knowledgeable about the market. Also, an experienced agent will guide you through the buying process and make it a lot simpler. The next step is moving in. Again, trusting a professional to handle your relocation to the new home is essential if you want to minimize the stress and save time. Browse only trusted moving pros at bestcrosscountrymovers.com so you can be sure your items are safe. Unfortunately, the moving industry is filled with low-quality companies, so be sure to do your best to avoid them.
Prepare for the stay
If you plan on staying in your second home longer, make sure you prepare your first home first. This means you should turn off the water, get rid of perishable food, take care of your plants or find someone to do it for you. Now you can stay on vacation as long as you want. However, you need to prepare well for a more extended stay.
Pack your vacation items safely
Once you buy your vacation home in Virginia, you can transport all the vacation essentials there. This way, you won’t risk damaging them when you pack every time you travel. For example, if you love fishing, you will want to pack your fishing equipment so it can travel safely. If you want to bring fishing gear with you, explore the main packing guidelines to keep the items protected during transport and enjoy your favorite hobby without any problems.
Take your time to feel at home
As you can see, it makes perfect sense to buy a second home in Virginia in 2021. And once you do, remember that settling in a new property is not always fast. Take your time adapting your second home just the way you want it, so you can make it a true oasis for your family.
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront property in Virginia we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “what is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.