Have you ever dreamed about owning the perfect vacation property? Today’s creative travelers are finding better places to invest in than traditional spots like Florida and Palm Springs. With discount airlines circling the globe, vacation property can be located in the next sate, the next country, even the next continent! So keep reading and learn a thing or two about what to look for and where to look for it, as we look into the exciting world of vacation properties.
Getting Started
Most people choose their vacation property based on favorite activities (like skiing or golfing), or warm weather climates. This is a great place to start, as your lifestyle and travel (likes and dislikes) need to be focused in order to find the perfect vacation property. Since most people jump at the chance to vacation in warmer weather, areas with warmer winter climates – like Hawaii, Florida, California and Arizona – often have higher prices. Although you do pay more in these areas, you often get more luxurious properties with good access to amenities. But weather shouldn’t be your only consideration, as lying around in the sun isn’t as fun as it once was. Here are few things you should consider.
What do you like to do?: Do you have a favorite pastime or hobby? People often neglect to consider all the different activities they might want to partake in on a vacation, so you need to ensure your property is located near things you like to do. You also want to ensure your favorite activities are not overpriced (compare golfing in Arizona for under $20 to golfing in Vegas for an average of $100).
Accessibility: Properties that are accessible 12 months of the year are the best, as you should have more free time as you edge closer to retirement. So avoid places that are closed during the winter, or ones that are oppressively hot during the summer. You also need to avoid places that have little airline service, as you do not want to spend a fortune every time you go for a visit.
Weather: As mentioned above, you want to be able to use your property as often as possible, so weather needs to be a consideration. And not just ‘normal’ climate patterns either, as many economists are predicting areas that are currently popular in Europe – like the French Riviera – will become to oppressively hot as global temperatures rise. Think long term, and avoid places that are shut down for months at a time due to heat, rain, or snow.
Politics: The global economy and the Euro have generated lots of vacation opportunities in nearly every corner of the globe. However, some countries are more stable than others, so you need to investigate the region you are interested in before you go shopping. Check out the CIA world factbook at www.cia.gov/cia/publications/factbook/. It is good place to get started.
Other Factors: Check out things like disease, access to clean water, taxes, ownership rules, security, and maintenance. You need to know that when you lock the doors and head back home, you know that your property and possessions are safe.
