A vacation home is an asset you can benefit from both practically and financially. In addition to spending time there yourself, you can rent it out when you aren't using it. To get the most out of your property, you should consider several factors while shopping. Use this guide when buying a house to use for your dream vacations. 

Finances

Before buying a house, decide on a budget. When calculating what you can afford, keep in mind whether you’ll be taking a mortgage out on your new home. Don’t forget to include the down payment for the home loan in your budget. Experts recommend paying a lump sum that is at least 20% of the total price in order to secure a more favorable interest rate.

Location

With your budget determined, you can start shopping around. Focus on areas and locations with properties in your price bracket. If you’re planning to rent the property, make sure you choose an attractive neighborhood. Consider proximity to practical amenities, like grocery stores, as well as to tourist attractions or leisure areas, like public parks. Try renting prior to buying to really get a feel for the different areas in town.

Design

People use vacation as an opportunity to spend time with family or friends. An open property design with spacious common areas, like a large living room or kitchen is ideal for gathering people together. Exterior spaces like a patio for outdoor dining, or a hot tub, can make the house more marketable. These elements will make the space more enjoyable for you—and allow you to command a higher price on the rental market.

Whether you’re buying a primary residence or a vacation home, trust RE/MAX Real Team Realty of Ashland, KY. Backed by a reputable national brand, their experienced team is ranked #1 in the area. For an overview of their realtors, visit their website. To get started buying a house, call (606) 325-0407.