Imagine having your own beachfront paradise that you can retreat to whenever you need a break. Owning a vacation home allows you to take a personal getaway on your own terms, while creating valuable memories with friends and family. It can also be a fantastic way to generate an additional income stream.
While investing in a Florida vacation home is a dream for millions of people, most don’t know where to start. As some of the industry’s best experts, the REALTORS® at Bee Realty Corp help clients acquire beautiful summer vacation homes every day. The Volusia County real estate market has a lot to offer, so we’ve pulled together questions you should consider when choosing the right place for your family.
1. What Is The Optimal Location For Your Vacation Home?
Location, location, location. Location is everything when it comes to your primary home and your rental property. When choosing a location, there are a couple of things to consider. First, think about the balance between convenience, experience, and lifestyle. For example, do you enjoy relaxing on the beach, or is having easy access to an amusement park more important? Is a beach-front property essential, or are you ok with living a few blocks away? A vacation home is a big investment, and you don’t want to experience buyer’s remorse down the road. Choosing a location that will make you happy for years to come is very important.
2. What Size Property Best Meets Your Needs?
Deciding what size vacation home you need is an important first step. Properties come in a wide range of sizes — so consider whether this will be a vacation home that you’ll use for small family escapes or if you’ll be hosting extended family and friends. Remember, this should be a place to relax, so comfort and privacy are key. You don’t want to have to cram everybody into a small space.
Once you decide how many bedrooms and bathrooms you need, you’ll be better prepared to start your property search, and your REALTOR® can help narrow down your options.
3. How Will You Manage The Property?
One of the biggest challenges with owning a second vacation home is keeping up with maintenance, especially if you don’t live in the area. Monitoring the property, fixing issues, and even preparing for a storm or hurricane are all responsibilities of a property owner. Larger homes closer to the beach may be more work than a smaller unit inland, but there are trade-offs to both. Of course, hiring an experienced property manager is a great option, which can take this workload off your plate.
4. What Will You Do With The Property When You’re Not Using It?
Vacation homes have a second major benefit — they can generate substantial rental income when you’re not using them. While renting out your vacation home can create a second income stream, managing a rental property isn’t for everyone. Coordinating rentals, managing contracts, and cleaning between guests is a lot of work; however, it can also go a long way toward making your vacation home more affordable. Plus, with VRBO and Airbnb, it’s never been easier to find renters. If you do plan on renting your property, investing in a place that is highly appealing to vacationers can help ensure your unit stays full.
5. What Is The Future Resell Value?
Not only is a vacation home a wonderful amenity, but it’s also a valuable asset that can serve as a vehicle for generating future generational wealth. When choosing the right property, it’s important to consider the future resale potential of the property. Is it in a high-growth area? What are the local market trends today? Is there high demand for the type of property you’re considering? These questions aren’t always easy to answer, but a real estate professional can guide you along the way.
6. Do You Have The Right REALTOR®?
Buying a vacation home isn’t the same as buying a primary residence. From financing requirements to evaluating properties, there can be a lot to navigate. Plus, Central Florida is one of the hottest real estate markets, so it’s important to be competitive and know what you’re doing. Having the right real estate professional in your corner can make a world of difference.
When choosing a REALTOR®, make sure to consider the basics, such as how long they’ve been in business and how many deals they’ve supported. However, you’ll also want to verify that a prospective real estate agent has experience with vacation home transactions and that they’re very familiar with the Volusia County real estate market.
Managing rentals is another area where a property manager can help. If you’re planning to rent your property, a good property manager can handle the entire process.
How Bee Realty Corp Can Help You Buy Your Dream Vacation Home
If you’re ready to start looking for the perfect vacation home, Bee Realty Corp can help you navigate the Volusia County real estate market. Our expert REALTORS® have been doing this for a long time. We know how to help our clients evaluate vacation homes, and we can help you narrow down your search to only the properties that meet your criteria.
We don’t just support first-time buyers, we’re also highly skilled when it comes to vacation home purchases and other complex real estate transactions. We’re well equipped to help you navigate any complications that pop up during the closing process. And as a bonus, we also offer property management services.
Whether you dream of owning a home on Daytona Beach or Ormond Beach, the REALTORS® at Bee Realty Corp are dedicated to making your real estate dreams come true. Schedule an appointment today to kick off your vacation home search.
