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Sloan Realty Myrtle Beach Blog

When You're Ready to Invest in Your Own Vacation Home

When you find yourself returning to the same coastal area year after year maybe it’s time to invest in your own vacation home. Home prices are very reasonable right now and combined with low interest rates, you could easily discover some super good deals on homes that you just won’t be able to pass up.

If you are at all curious about purchasing a vacation property and what would be involved, we can help. At Sloan Realty we can answer all of your questions about purchasing and owning a coastal home here in South Carolina. We can also help you find that perfect property. When you pair up with one of our Realtors you will have a professional to guide you through the process of finding and purchasing a home.

Here are some helpful tips for making that investment:
1. If your family has a favorite vacation location that you keep returning to, this may be the ideal spot for you. Decide whether this is a place where you’d like to spend every vacation. Base your decision on your lifestyle and recreational interests.
2. Choose the size vacation home you will need. Make sure it fits your family and their comfort level and has enough bedrooms. Will you be getting a lot of company? If so, you’ll want to buy a home with extra bedrooms.
3. What is your budget? Be sure to get pre-approved for a loan if you need one before you start looking. You should know your budget well before you contact us.
4. Once you know how much you can spend, write down the important features you want in a vacation home so you can view some properties for sale.

We will arrange for you to see the homes that match your price range and have the features you want. Once you find one you like, a market analysis will be done on the property to determine if the pricing is fair. Sellers sometimes have inflated expectations, and buyers sometimes don’t realize the higher value a vacation home can have. Make an offer based upon this research and the advice of the agent you are working with.

If all goes well with your financing, the home inspection, and your offer, you may find yourself the new owner of a vacation home! How will you care for the property that you may not be living in full time? If you’re within reasonable driving distance you can care for it yourself. But if not, you’ll want to get references of rental management firms that can take care of maintenance, upkeep and rentals when you are not there.

This is a perfect time to secure your future vacation memories as well as make a sound real estate investment that will gain value in the years to come. We look forward to helping you secure your very own vacation home.

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