Resort communities typically offer beautiful scenery, an abundance of interactive amenities, gorgeous houses, and tons of recreational activities. Nothing is perfect, so while owning a resort home sounds like a dream, it also has its downsides. They also have great upsides too! Such as:
•Scenery. Your house may look over the mountains, the lake, or white sand.
•Recreational activities. Resorts have so many activities to choose from like snow skiing, golfing, spa visits, or the beach.
•Entertainment. This can include shopping centers, nightlife, a wide variety of restaurants. The list goes on.
•Diversity. Resorts attract a very diverse population, which can make it a very interesting and enjoying place to live.
•Wide variety. There are many different types of homes to choose from, so you can choose the one that is perfect for you.
A big disadvantage to owning a resort home are the expenses, which can be costly. This is because resorts usually are full of people with money to spend so prices for entertainment and amenities are higher than in other places. How good of an investment the home will be depends on many different things.
There is a high cost of living. It is more expensive to live in a community like this; things costs more; even grocery stores, gas, and convenient stores. You should also expect to pay more money in taxes. Maintenance is a cost that you should definitely include when you budget. Even if you aren’t going to be there a lot of the time, you’re still going to have to maintain the home.
Weather is one of the most important things to consider when you are looking at buying the home. While it may be very attractive during the “on” season, it may be very unpleasant during the “off” seasons. For example, if the home you purchase is in the mountains, you might get snowed in at times. This may seem nice, as you have a few extra nights to sit by the fire. But, if you’re supposed to be back at work the next day for a big presentation, you’ll be in for trouble.
Many prospective owners buy in terms of thinking they’ll be able to rent it out to earn money while they’re away. This is not something you should expect. While it is possible, and likely, do not purchase the house if you can’t afford it, under the basis that you’ll be able to pay the mortgage by renting it. Look at all of the advantages and disadvantages when looking to purchase the resort home. Good luck!