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Beyond Impulse: an West Palm Beach Vacation Home Over the Long Run

vacation homeDeciding to buy a vacation home in West Palm Beach can be one of the smartest investments there is. Or it can turn into an irksome drain on time and pocketbook. As much as with any real estate transaction, buying a vacation home that fulfills its upside potential takes thoughtful weighing of all the advantages and drawbacks a second home entails.

There’s nothing better than having your own place to escape to when it’s time to get away… and if the same sanctuary can be rented out now and again, that extra income only adds appeal. Especially when you find a place that strikes an emotional cord, it can be hard to resist the impulse to just make an offer and work out the kinks later. All the same, it pays to keep an eye on some of the issues that don’t leap to mind when you think “vacation.”

Even if it’s only a part-time venue, that Palm Beach County vacation home will need ongoing maintenance attention.  If you are a dedicated DIY hobbyist, that may not be a large issue; but if not, part of your due diligence will be verifying the availability and price of professional help.

For a second home to make financial sense, all expense items should be part of the budget calculations. A vacation home might be near enough to the water to warrant flood insurance (or extra work done to prepare it for floods), just as a cabin in a wildfire-prone area might be at greater risk of fire and need extra coverage. If your vacation home will involve a home loan, be prepared to pencil in a higher interest rate than what’s expected for a primary residence. Even if it’s just a bit higher, the total amount will add up over the life of the loan. Taking all expenses fully into account from the beginning means there will be no surprises later on.

An West Palm Beach vacation home should be a place that lowers everyday stress levels — not adds to them. There are plenty of properties available, so do give me a call. One of them might be just right for you!

 

    

 

Questions, Comments or For more information you can email Christian Penner at TheMortgageTeam@ChristianPenner.com or visit us online at www.ChristianPenner.com or you can call us directly at: 561-316-6800

ChristianPenner.com
http://www.christianpenner.com/beyond-impulse-an-west-palm-beach-vacation-home-over-the-long-run/
Beyond Impulse: an West Palm Beach Vacation Home Over the Long Run


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blackwhite#Christian Penner, #Mortgage Broker West Palm Beach talks about #Real Estate West Palm Beach. He also serves other Local Areas and provides home #Mortgage Solutions for Palm Beach Gardens, #Jupiter, #Boca Raton, #Wellington and #Tequesta. #Christian Penner Mortgage Broker Jupiter has the #lowest mortgage rates and the best #home mortgage programs like; #Jumbo loans, #FHA Home Loans, #VA Home Loans, #Reverse Mortgage Home Loans, #Freddie Mac Home Loans, #Fannie Mae Home Loans and #HARP Mortgage Loans. #Christian Penner Mortgage Broker Palm Beach Gardens has Served the area for over 15 years with his #Home Loan Lending Needs and Works with #FEMBI Mortgage in Jupiter. You Can Also Find Him On fb mortgageFacebook at: http://Facebook.com/YourMortgageBanker

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ChristianPenner.com
http://www.christianpenner.com/beyond-impulse-an-west-palm-beach-vacation-home-over-the-long-run/
Beyond Impulse: an West Palm Beach Vacation Home Over the Long Run