Is a lake-house something you’ve been dreaming about? The original American Dream will always be to own a home, but there's a variation on that standard for 2021: the dream of owning your own vacation home with water access. There are platforms that revolutionized the world of vacation rentals, giving everyday homeowners an easy and relatively risk-free way to take advantage of the short-term rental market. But always be sure to check with your potential new homes HOA and County to see if short term rentals are allowed.
Living by the water is like a dream come true - wonderful landscapes, plenty of things to do in the neighborhood, usually amazing weather.
There's always a certain amount of fantasy involved in purchasing a lake house, so do your best to bring reality back when it's important. Realism is critical when you're making a budget for your home as well as many other decisions you're going to be making - it’s imperative you stay focused to avoid any disappointments (but we understand buying a home in such wonderful location may be distracting).
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When considering a purchase of a lake house, in addition to the mortgage payment, the taxes, the homeowners' insurance, HOA fees, and other loan-related expenses, you might also want to think about additional protection on the property. Flood insurance isn’t always required by, but if your home is located in a geographic area that experiences those it with a fair amount of frequency, then it will probably be in your best interest to consider purchasing additional insurance policies.
Buying a house entails some thorough research if you think about it seriously.
It’s not only important to consider crime rates and home appreciation in the possible neighborhoods and metros for buying a house, but also school ratings and commute times so you don’t waste much time one it. Of course, if you're going to be living in the house and working in the area, you'll want to know how close you are to work and how convenient (or inconvenient) it will be to shop for groceries, among other factors.
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