What kind of nuts are we talking about, Jodi? Macadamia nuts? Brazil nuts? Definitely not peanuts, as you won’t find any vacation homes worth their salt going for that. Sure, the second home market is super hot, but let’s not get too carried away — slow growth is sustainable growth, and that’s what many economists are seeing in the vacation home market.
What I do like about Jodi Helmer’s piece in the Huffington Post is the four essential pieces of advice for vacation home shoppers (although I don’t necessarily agree with the fourth):
1) Location is king
2) Make sure its a viable rental
3) Make sure you see the real bottom line (maintenance and taxes) before signing on it
4) Before you make a bid, sleep on it
The fourth piece of advice is kind of problematic because, just like buying any property, someone else might want it more than you and if you follow Jodi’s rule and always sleep on it, well, you can lose out.
What do you think?