Premiere Plus Realty Co.
Richard T. Dingfelder, Premiere Plus Realty Co.Phone: (239) 961-9896
Email: [email protected]

Where Should You Buy a Second Residence?

by Richard T. Dingfelder 07/14/2019

Purchasing a second home should be a fun, exciting experience. Yet homebuyers who fail to consider where they want to pursue a second residence may struggle to achieve their desired results.

If you know you want to buy a second home, it often helps to narrow your house search to residences in a select group of cities and towns. Then, you can evaluate available residences in your preferred cities and towns and boost the likelihood of finding a house that you can enjoy for years to come.

Of course, determining which cities and towns where you want to pursue a second house can be difficult. Yet there are lots of things you can do to hone your house search, including:

1. Evaluate Your Homebuying Budget

Your finances likely will play a major role in your ability to pursue and acquire a second residence. As such, you should examine your finances closely so you can establish a homebuying budget.

If you have paid the mortgage on your current house, focus on the mortgage costs associated with a second home. For example, if you want to find out how much you can afford to pay for a second home, you can meet with bank and credit union mortgage specialists. This will allow you to get pre-approved for a mortgage so you can enter the real estate market with a budget in hand.

Comparatively, if you still have a mortgage on your present house, you should consult with your lender. This will allow you to determine if you qualify for a second mortgage. Also, you can get financial guidance so you can figure out where to search for a second house that falls in line with your finances.

2. Establish a Homebuying Timeline

Think about when you want to acquire a second residence. Next, you can create a homebuying timeline to help you achieve your desired homebuying goal.

A homebuying timeline should remain flexible. If you want to purchase a second home in the mountains, for example, you should account for the time it may take to transport various personal belongings to this residence. And if problems arise that delay your efforts to acquire a second home, you should be ready to adjust your homebuying timeline as needed.

3. Hire a Real Estate Agent

Let's face it – buying a second home is rarely simple, regardless of your property buying expertise. But if you hire a real estate agent, you can receive extensive assistance as you search for a second residence.

A real estate agent understands the ins and outs of the housing market. He or she will share real estate market insights with you, along with providing tips and recommendations. As a result, a real estate agent will help you find a second home in your preferred city or town as quickly as possible.

Take the guesswork out of finding and buying a second home in the city or town of your choice – use the aforementioned tips, and you could streamline your quest to acquire a second residence that matches your expectations.

About the Author
Author

Richard T. Dingfelder

Rick’s strong communication and negotiating skills, extensive marketing knowledge and professional integrity are just some of the attributes that set him apart as a REALTOR®. Rick is a driven, goal-oriented, licensed REALTOR® that will professionally manage all aspects of your transaction, understanding the importance of a real estate transaction. His clients can rely on more than 10 years of experience as well as a unique marketing plan customized to stand out from the competition. An impressive 45% referral rate as a REALTOR®, Rick credits his willingness to go the extra mile, winning attitude and drive, as just some of the elements that make him successful. Rick specializes in beach, gated, waterfront, planned, resort, retirement and new home subdivisions in his exclusive territory. Adding to his commitment and persistence, Rick loves where he lives. A recent area resident, he has been visiting southwest Florida for 30 years, crediting the beautiful weather, the friendly people and the countless recreational opportunities as a few of the reasons why it’s a great place to call home. Rick is very energetic in his community as an active church and competitive tennis league member while playing golf, fishing, scuba diving and traveling in his free time. While Rick holds CRS, GRI, ABR, SRES and ePro designations, as well as memberships in NAR, NABOR and FAR. His reputation is built on a foundation of hard work and helping his clients achieve their goals. The distinctive combination of business experience, broad marketing knowledge, and superior customer service prove that Rick personifies his commitment, as “Proactive – Experienced – Professional.”