Important Information About Buying a Second Home

So, you are thinking about buying a second home? Excellent.  You have come to the right place then because below, I’ve got 5 of the absolute greatest tips and strategies to help you out on that front. Get ready to have your mind blown.

buying a second home 8 ball

Some people need a magic 8 ball. You’ve got me.. Photo courtesy of Lel4nd(CC Attribution)

1. The Price of the House is Unimportant

I am not just talking about the sale price of the house here either. I am talking about everything including, insurance, utilities, property taxes, maintenance fees, etc. 

If you’re thinking about renting the property out, whatever you do, do not interview more than one management company. Pick the one with the best name and prettiest logo. That alone determines the quality of care you’ll receive. Additionally, do not ask what the management fees are. 

You’re buying a second home and don’t have time to think about that stuff. None of it matters at all. You have your heart set on getting a second home and nothing will stop you. Nothing should.

2. You’re Becoming a Landlord? Tenants Are Like Peasants

And you are now a landLORD. You know what that means? Your tenants have to do anything you say, and you don’t care who they are, what they do, how much they make, or how long they’ll be staying in your home. If you don’t like them then simply call the constable to remove the plebians from your second home. They have to leave. The law is on your side no matter where you live.

second home flooding

Waterfront property is always desirable.. Photo courtesy of waitscm(CC Attribution)

3. There is No Such Thing as a Bad Location

When buying a second home, go out and find the biggest, most exquisite home that money can buy. Next to an airport? In a hazardous fire area during a drought time? Prone to flooding? House surrounded flophouses and hovels? Don’t listen to the fussing others may make about those features and highlights. 

The house is a great investment and will sell for even more down the road. Housing prices always rise and the adage “Location, location, location” means nothing. Absolutely nothing at all

4. Time is of the Essence

It is written on contracts and in every real estate show on television you see people buying homes after looking at them for a few minutes, and they move in by the end of the episode. Why then is everyone telling you to slow things down and sleep on big decisions? Because they don’t know what they’re doing, that’s why. They’re indecisive, and they’re too scared to grab the bull by the horns. Show them how to do it. Buying a second home is no big deal, and you’re life is 100% guaranteed to be better once you do.

talk to the experts

Whenever you need expert advice, you talk to yourself.. Photo courtesy of Mai Le(CC Attribution)

5. You’re the Expert, Not Anyone Else

You’ve watched countless hours of Flip or Flop, Dream Home, and House Hunters. You obviously know what you’re doing. Heeding the advice of a real estate agent, mortgage broker, attorney, or a spouse is a good way to find yourself in Loserville, population: everyone else. 

Trust your instincts. If you love a house, but your agent is saying that it isn’t a good investment and is in a bad area then fire them. They’re bringing you down and don’t have the vision or acumen that you do. If your spouse is giving you troubles, consider divorce. Their fears will only get more troublesome as you get into escrow and look at becoming a real estate investor and tycoon. Find someone pliable who recognizes you for the expert and great person that you are, and who believes in the vision of what you can become.

End the Sarcasm Here

Well that was fun. I hope you enjoyed it and didn’t take it too seriously. If you really are considering buying a second home, then pretty much do the opposite of everything that you just read, and feel free to contact me. I’d be glad to help and get you started in the right direction.

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