Mark Schulenburg

Branch Manager • Guild Mortgage

  • Home
  • About
    • About Mark
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage Calculator
    • Mortgage FAQ
    • Mortgage Glossary
  • Testimonials
  • Apply Now
  • Contact

3 Things to Consider Before Buying a Vacation Home Abroad

June 28, 2016 by Mark Schulenburg

3 Things to Consider Before Buying a Vacation Home AbroadThe call of fancy vacation locations and the additional earnings that can come along with this type of home may appeal to many homebuyers, but a lot of time and money can go into maintaining a second property. If you’re currently considering a vacation home for your own use or as a potential investment, here are a few factors to consider before jumping into the fray of a long distance home.

Will You Use It Enough?

A home in a far-off place can be a great means of having a place to visit each year, but one of the problems with this type of home is that it often doesn’t get enough use to justify all of the associated costs. While things like timeshares can minimize this problem, buying your own home may mean that you’ll be compelled to visit quite frequently and you may feel the need to commit to one option when it comes to vacation time.

Do You Want To Worry About Maintenance?

Like any home, a vacation property is going to have both large and small maintenance issues that need to be fixed here and there, and this can be hard to get to if you live a 5-hour plane ride away. Maintenance isn’t necessarily a deal breaker when it comes to a second home, but you’ll want to determine if you’re willing to do the work when you’re spending time there or whether you’d rather hire someone who will do all of the little fix-ups for you.

Is It Really Affordable?

When going into an investment as significant as a home for pleasure, it can be easy for people to be obscured by what they want and not what they need, but this sometimes means people will take a financial risk. Instead of throwing caution to the wind, ensure you sit down and determine the monthly costs, maintenance fees and property taxes of your potential property. Determining how this lines up with all your other debts will help you decide if the purchase is really feasible.

Sunny beaches and trendy cities may seem like a foolproof investment, but it’s important to consider the cost effectiveness and all of the maintenance required before you commit to a second home abroad. If you’re currently looking for a home in an exotic locale, contact your local mortgage professional for more information.

Filed Under: Home Mortgage Tips Tagged With: Buying Homes Abroad, Home Mortgage Tips, Vacation Home

Mark Schulenburg

Contact Mark


Branch Manager
Call (630) 417-7174
markschulenburg@guildmortgage.net
NMLS # 559943 Guild Mortgage
NMLS #3274

Browse Articles by Category

Get A Free Rate Quote!

Recent Articles

  • Getting A Mortgage When Self-Employed: What You Need To Know
  • On Time, Every Time: How Being Late on Monthly Payments Can Affect Your Mortgage
  • What Is A Loan Contingency: An Overview
  • What’s Ahead For Mortgage Rates This Week – January 23, 2023
Guild Mortgage NMLS #3274
Equal Housing Lender

Our Location


1815 Meyers Road Suite 120
Oakbrook Terrace, IL 60181

Copyright © 2023 · Powered by MySMARTblog