20 April 2016

10 Things to Consider When Buying a Vacation Home

Boathouse Neighborhood, Sanduksy, Ohio
1. Will you be renting it to cover expenses?  
  • Is renting short term permitted by the association?  Local government?
  • Are you close enough to self manage?  If not how many companies are available?  At what cost?  
  • What is the rental season?  
  • Additional insurance expenses?
  • Rental marketing venues?
2. How far are you willing to travel?
  • If you want a place you can use more than a couple times of year, consider distance.
  • If you are going to self-manage and rent the property - distance matters!
3. If a group/family purchase - have you worked out everyone's responsibilities?
  • Financial/Management
  • Repairs/Maintenance
  • What if one of four owners wants out?  
  • Have everything in writing, signed and dated.
4. Have you considered all related expenses?
  • Insurance
  • Taxes
  • Rental Fees
  • Fund for possible assessments, unexpected repairs, etc.
5. Neighborhood, Neighborhood, Neighborhood!

6. Rent First - Then Buy!  

7. How long will you be holding the property?

8. Is there an HOA or Condo Association?  
  • Read their bi-laws!  
  • Insurance coverage!
9. What are your key goals?

10.  Choose an experienced agent.


Lee Hisey and the Hisey Group serve Cleveland's Westside to the Lake Erie Islands.  One of their specialty areas is "Lake Erie Island, River and Shore Vacation Property".  
Vermilion, Huron, Sandusky, Catawba Island, Marblehead
Johnson's Island, Kelleys Island, Middle Bass Island, South Bass Island


Put-in-Bay, Rattlesnake Island, North Bass Island & adjacent areas.

Contact the Hisey Group with Howard Hanna today at RealEstate@HiseyGroup.com or Lee directly at 440-315-6000.  







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