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Buying a vacation property

Crumlin, United...
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Buying a vacation property

We have vacationed in Mass many times and really love all of it. We want to buy a place to use approx 3 times a year. As we live in Ireland we haven't a clue regarding how to go about it - any help/advice would be great.

We have thought about a2/3 bed condo and sub-letting a room or 2, or even a room in a condo hotel.

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1. Re: Buying a vacation property

No matter what part of MA you choose a local real estate agent can help you with the legal apects and finding a property. Be sure the area has plenty of available services to be there when you are not....a company or someone to trust to check in weekly/monthly year round. Do expect(especially in Cape Cod) that many maintenence services(plumbers etc.) charge alot more than most parts of the country.

check out realtor.com. and plug in whatever city you want to see.

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2. Re: Buying a vacation property

I am a licensed MA Realtor and I agree with the last post to find a Realtor. It is very important to have a Exclusive Buyers Agent on your side to help you with your purchase. An Exclusive Buyers Agent does not take property listings. They only help the buyer get the best price and terms and there is never a conflict of interest because their office does not represent sellers. The MA real estate market currently favors the buyer. There are many pre forclosures, foreclosures, and bank owned properties. You have to be very careful buying a bank owned property and need the advice of an experienced Realtor. If you decide to purchase a condo, you have to make sure that you are allowed to rent out your unit. Some condo associations do not allow renters. You have to know what is and what is not allowed prior to making your purchase. The best place to start looking for a Realtor is to Google Exclusive Buyers Agent, Cape Cod MA or Boston, MA. etc. Being a long distance landlord could be difficult unless you hire a management company to help you collect payments, and be able to be called upon should there be an emergency. Such companies work with plumbers, electricians, etc. If you plan to use your place three times per year, it will be difficult finding someone to rent it and only use it for short periods of time until you want to use it. If the house remains empty for long periods of time, your homeowners insurance could be very expensive. Considering the continuing downturn in the MA real estate market there is still uncertainty where the market is headed. All indications are that prices will continue to decline in the single family market.

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3. Re: Buying a vacation property

Listen to the previous poster, you need a buyers agent. Remember here in the states the property listing agent works for the seller and is legally bound to represent the seller's interest (including getting the highest price, giving the seller information on how much you can afford, etc. anything you say to the property listing agent can be conveyed to the seller)

Just a question, don't you think the hassle of owning a place is not worth it for 3 visits a year? I might be a good idea if you considered retiring or moving here eventually but like the other poster said you'll have to have people to manage the property for you (so you don't get stuck with a frozen pipe or other damage while you're away). Lots to consider before buying.

4. Re: Buying a vacation property

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