A Second Home and Real Estate - Buying a Second Home from Long Distance
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Buying a Second Home from Long Distance

Takeaways

  • Do your homework on the property.
  • Find an agent you can trust to do legwork.
  • Always visit the property before you buy if you can.

Did you know?

  • Half of all vacation homes are located in recreational or resort communities.
The right agent will get your second home in hand. Investment second homes can be located anywhere, but many people focus on homes near their primary residence. This way it’s much easier to manage the property and knowing the area makes buying an investment home an easier prospect. If you are buying a second home for your personal use it’s probably going to be located away from your primary home. Otherwise your “getaway” won’t feel so much like you’re getting away when it’s within blocks of your home.

When you're buying from long distance it’s important to really do your homework on the property, and enlist the services of a real estate professional when searching for the perfect second home. Also keep in mind the getaway second home on a remote lakefront property may have more rustic facilities than you are used to.

Be sure to ask a few questions before getting into a second home purchase from long distance.

  • Look into the electric supply and make sure it's good enough for your needs.
  • Make sure the property has a water supply. If the water is pumped from a stream or a lake, ensure the water is filtered.
  • If the home is on a septic system, have it checked out. Make sure there's room for a replacement system if the existing septic unit fails.
  • It's a good idea to make your purchase subject to an approved building permit.

You should get a copy of the title report, and take plenty of notes and photographs before buying the house. Your notes can come from your personal reflection on the property as well as what the neighbors have to say. Do ask the owner why they decided to sell the home.

Visit Before you Buy

While some people may be tempted to buy a second home site unseen, based upon the research they’ve done online and offline, the best way to avoid buyers remorse is to visit the home in person. No matter how much research you do, being in the home, seeing its neighborhood, smelling the (hopefully) fresh air is essential to peace of mind. Don’t be pressured into buying by an anxious seller who may talk about other (perhaps mythical) buyers.

Taking these steps, and setting your budget in advance, will help you avoid an impulse purchase and help you buy a great getaway second home.

Search for Second Homes for Sale

To search for a selection of second homes for sale, please visit lifestylehomesearch.com, or visit the website of a GMAC Real Estate Office that serves the area where you'd like to buy a second home. To learn more about buying Second Homes or Vacation Homes, explore the rest of this section, or contact a GMAC Real Estate Agent.