5.11% of homes in the U.S. are second homes. However, some families are happier with their vacation homes than others.
If you're ready to own a vacation home in Naperville, IL, you do your due diligence and consider your options carefully. A vacation home is a major purchase so you need to be sure that you'll be satisfied with it.
Use this Naperville vacation home guide and follow these vacation home ownership tips when buying your dream getaway in Naperville, IL.
Set a Budget
Setting a budget is one of the most important things to do when buying a vacation home. In addition to the initial purchase price, you should also consider other costs that will be a part of the purchase.
Calculate insurance and property tax costs as well as the cost of furnishings and homeowners association fees. You should also be sure you have enough money for any furnishings that you would like to buy.
Know the Location
When buying a vacation home in Naperville, think carefully about its location. You'll want to be sure to buy a home that's in a neighborhood or subdivision you like and that offers great proximity to attractions, restaurants, grocery stores, and more.
Be sure to follow these Naperville vacation rental tips. Compare the different areas carefully and choose a home that will perfectly suit your needs when in town.
Look for Property Management
When buying a vacation home, it's especially important to know how you'll maintain it. Since you'll be away from it for a large portion of the year, you may need to consider hiring a property management company to keep an eye on it for you and ensure it stays in good condition.
Property managers can handle landlord inspections, maintenance, and repairs on your behalf. As a result, it will be fully ready for you to use when the time comes to do so.
Check Vacation Rental Possibilities
When buying a vacation property in Naperville, it's always a good idea to determine its rental potential. You may be able to rent it to others when you're away.
Consider the location and neighborhood carefully to ensure it won't only be desirable to your family but to vacationers as well. Also, think about how much you'll be able to rent it out for.
Once again, hiring a property management company can help with this task. Property managers can help ensure you can get short-term tenants while you're out of town.
Buying a Vacation Home in Naperville
If you're ready to invest in a vacation home in Naperville, IL, pay attention to the most important factors. Consider your budget and the neighborhood carefully and have a plan for how you'll take care of your vacation home when away.
If you need help managing Naperville, IL real estate, hire PMI West Suburban. Our locally-owned office is dedicated to customer service and has the experience needed to manage your property well.
Ready to learn more? Contact us today to learn more about how we can meet your property management needs.
