These are the most relevant things you need to know before making a final decision to purchase your luxury vacation home in your favorite destination.
Buying a home is an achievement, but securing a second property as a vacation home is definitely a milestone. And while investing in vacation ownership comes with a lot of responsibility, owning a home in your favorite vacation destination can be a great investment while earning a substantial return.
But is having a luxury vacation home a good idea at the end of the day? If you are looking to strengthen your current wealth, investing in your vacation home might be the best way to keep your mental and physical health stable and, of course, the health of your bank accounts.
In today’s article we will tell you the most important points that you must take into account before investing in an estate of this style, we will give you the most useful advice and a complete analysis of what to expect when acquiring a property intended for rest.
1. Find your purpose
Whether you are considering this investment for your own benefit and enjoyment, or you are thinking of diversifying your income and generating a new profit channel, or both! It is very important that you have it very clear from the beginning so starting from there you can have a better decision about which property meets your needs.
And reasons to buy your vacation home can be many, actually many people consider buying their vacation home so that their family and friends can get away at any time of the year, to make a profit when the house is not in personal or family use, to make Home Office in a different place than usual or to be your retirement home in the future. The important thing is to define it very well from the beginning
2. Location
First of all you should make sure that the location of your new vacation home is in a growing and popular area in the community, whether you choose to have your new home on the warm beach of the Pacific or in the Caribbean, just make sure that in its surroundings there are enough attractions or amenities.
This is so that in the future it is much easier to rent it to other tenants when you are not using it, of course in case you want to obtain additional income or if, for example, you want to sell it for some reason in the future, considering its location and amenities, the value of the house will increase and your profits will be higher than the initial investment.
In Ancana you will be able to find properties with unbeatable locations, in addition to the fact that all the properties available for purchase by fraction are 100% equipped to have everything at your fingertips in one place. Take a look at the available properties! We have from houses in Valle de Bravo and San Miguel de Allende, to Los Cabos and Puerto Vallarta.
3. Property conditions
Now that you have finally defined your main purposes and the location of your next vacation home, it is time to review the conditions of the property. This is important, because you may not have the time to make significant repairs or improvements.
If you decide on a fixer-upper, try to choose a site that allows you to complete the improvement at your own convenience while still renting it out to local vacationers.
One of the advantages of acquiring your vacation home with Ancana is that you can completely forget about this issue of repairs and maintenance, since in some properties Ancana handles 100% of the administration, in other cases we work together with highly qualified property managers. In this way we manage to work together so that after each use the properties are reviewed by the administration and cleaning staff, thus keeping the property in optimal conditions and in this way you only focus on enjoying.
4. Maintenance
When buying a property as an investment, you must bear in mind that not only its cost is the only thing you will be spending, but you must also consider the necessary maintenance costs, as well as additional expenses such as property taxes and insurance.
Just as you should also consider the fixed cleaning fees, among other annual maintenance expenses.
This may sound quite overwhelming at first, but with Ancana this expense is divided equally by each co-owner of the property, so the maintenance does not fall 100% on you, which becomes an enormous facility to avoid raising costs and relief for your wallet.
Clic here to learn more about the “co-ownership” model.
5. Furniture
Will the property you are eyeing for your next vacation home be furnished or will it be 100% your responsibility? If you have to furnish the property completely then you should consider this additional expense in your budget, but if it is already furnished you just have to make sure that all the utensils, furniture and appliances are in perfect condition for its use.
It may not even give you enough time to constantly take care of and check if the furniture in your property is in good condition; we tell you that with Ancana you will not have to worry about that, since as we mentioned before, we take care of all the administration and maintenance, so that when you acquire your property with us you will be able to receive your house already furnished and without any failure.
In conclusion…
Investing in your own luxury vacation home can be a great option to generate new income and offer a greater advantage to your family and close friends who are looking for a weekend vacation getaway.
Whatever your preferences are, we are sure that you will find the perfect place for you and your family. Let us accompany you on this adventure so that you can start enjoying your vacation co-owner residence right now!
Owning a vacation home has never been this easy.
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