Tina McManus | Beverly Real Estate, Salem Real Estate, Hamilton Real Estate, Danvers Real Estate


You may be in the market to buy a vacation home in the near future. Getting ready to purchase a second home can be a big decision and a big financial commitment. Aside from a good investment, buying a vacation home brings enjoyment to you and your family. To help you make a good decision on when and where to buy your vacation home, read on. 


It’s All About Location


You need ton know why you want to buy a second home. Do you spend a lot of time in one specific area? Do you want to explore one particular place a bit more on a frequent basis? The reason behind why you purchase a home for vacation purposes will fuel your decision on location. If you’re looking for a simple getaway with your family several times a year, the answer may be different than if you want to have a rental property. Choose a location that has varied seasons. You don’t want the prime time for use of the property to be the same as when you’d like to be on the property with your family.   


Don’t Purchase On A Whim


While it can be tempting to search for homes while you’re on a getaway, you should rent several times before you make the decision to buy in a particular place. Vacations can give buyers this sense of awe that could quickly fade. You don’t want your decision to be fueled by emotion. You need to be certain that you’ll actually enjoy an area for the long term. 


Shopping for a vacation home is quite similar to shopping for your main house. You want to know you’re in a good area and that you’ll enjoy the house or the long haul. It’s tough to do that if you don’t have a basic understanding or appreciation of the area.  


How Often Will You Use The House, Really?


You need to be realistic about how often you’ll actually use your vacation house. It may not be worth it to buy in an area that will only be used one week out of the year. If you know you’ll be able to use the space all of the time, then go for buying a home in the location of your dreams. If, however, you’re unsure of how often you’ll be able to get to the house you might want to think twice. You could do just as well finding a spot that you can use as a reliable rental when you want it. Don’t forget that buying a second home means having a second home to maintain. Not everyone is up for that challenge.           



If you find your dream house, you likely want to submit an offer to purchase this residence as soon as possible. That way, you can avoid the danger of losing your ideal residence to a rival homebuyer.

Although you may strive to quickly submit an offer to purchase your dream residence, it is important to allocate sufficient time to craft a competitive homebuying proposal. Ultimately, there are many reasons to be diligent as you prepare an offer to purchase, and these include:

1. You can avoid the risk of overpaying to acquire your dream house.

You want to buy your dream house, but at the same time, you don't want to pay too much for it. Fortunately, if you allocate time and resources to learn about a home's condition and the current state of the real estate market, you may be better equipped than ever before to submit a competitive offer to purchase.

Analyze a house's condition closely as you put together a property buying proposal. It often is beneficial to consider any potential home improvement projects as well.

Also, take a look at the prices of comparable houses in the same city or town as your dream residence. With this housing market data in hand, you can establish a price range for homes that are similar to your dream residence. Then, you can submit an offer to purchase that accounts for the present state of the housing market.

2. You can submit an offer to purchase that falls in line with a seller's expectations.

It usually is beneficial to consider the seller's perspective as you put together an offer to purchase. By doing so, you can craft a homebuying proposal that falls in line with a seller's expectations.

If you think about the seller's perspective, you may be able to avoid submitting a "lowball" offer to purchase. Because if you understand how a seller may perceive your homebuying proposal, you can submit a competitive offer to purchase that likely will make a positive impression on him or her.

3. You can increase the likelihood of receiving an instant "Yes" from a seller.

With a competitive offer to purchase, a seller may respond with an instant "Yes." As a result, if you craft a competitive homebuying proposal, you may be able to move forward with a home purchase and quickly acquire your dream residence.

As you navigate the real estate market and prepare an offer to purchase your dream house, you may want to work with a real estate agent. This housing market professional can offer honest, unbiased recommendations about how much you should offer to pay for a residence. And if your homebuying proposal is accepted, a real estate agent will help you finalize your house purchase too.

Ready to make your homeownership dream come true? Collaborate with a real estate agent, and you can get the help you need to find your dream home and submit a competitive offer to purchase this residence.


If you intend to purchase a great house at a budget-friendly price, you should craft a homebuying timeline. That way, you can decide the best ways to achieve your homebuying goals.

Ultimately, creating a homebuying timeline can be simple – here are three tips to ensure you can develop a successful homebuying timeline.

1. Know When You Want to Move

For those who want to buy a house, it helps to consider your current living situation. By doing so, you can determine the necessary steps to relocate from your current address and acquire your dream residence.

If you presently own a house, you may need to sell it before you purchase a new home. Or, if you currently rent, you may need to give your landlord sufficient notice prior to your relocation. But if you consider the aforementioned factors closely, you can set a deadline for your move.

With a deadline in place, you can start your dream home pursuit. And once you find this residence, you can submit an offer and proceed with a home purchase.

2. Get Your Finances in Order

If you want to develop a successful homebuying timeline, it generally is a good idea to consider your financial situation as well. Because if you lack the necessary home financing, you are unlikely to be able to acquire a wonderful house any time soon.

As you develop your homebuying timeline, you may want to meet with banks and credit unions. These financial institutions can teach you about a wide range of mortgage options and help you get the financing that you need to buy your dream house.

Furthermore, you should check your credit score when you craft your homebuying timeline. If your credit score is low, you may need to improve it prior to buying a house. Thankfully, you can account for this factor as you map out your homebuying strategy and plan accordingly.

3. Collaborate with a Real Estate Agent

Developing a homebuying timeline may prove to be challenging. Luckily, real estate agents are available who can help you take the guesswork out of purchasing a house.

A real estate agent can teach you the ins and outs of buying a home. As a result, this housing market professional will enable you to enjoy a quick, seamless homebuying experience.

Perhaps best of all, a real estate agent can make it easy to acquire a terrific house on your timeline. This means if you want to purchase a top-notch house as quickly as possible, a real estate agent will do everything possible to make your homeownership dream come true. Comparatively, if you want to take a slow, gradual approach to buying a house, a real estate agent is ready to respond to your homebuying needs.

When it comes to buying a house, it helps to have a timeline in place prior to starting a house search. Fortunately, if you use the aforementioned tips, you can streamline the process of establishing a successful homebuying timeline.


Looking to add your condo to the real estate market? Ultimately, you'll want to set a "fair" price for your property. By doing so, you can stir up plenty of interest in your condo and boost your chances of a fast property sale.

List your condo at a price that meets the needs of both property buyer and seller – here are three tips to ensure you can price your condo properly.

1. Study the Housing Market

How does your condo rate against similar properties? Examine the housing market closely, and you can understand what differentiates your property from others that are currently available.

Check out the prices of comparable condos that have been added to the real estate market recently. That way, you can learn how other condo sellers are pricing their properties and map out your condo pricing strategy accordingly.

Also, evaluate the prices of condos that have sold over the past few months. This will allow you to identify real estate market patterns and trends and may help you establish a competitive price.

2. Hire a Property Appraiser

A property appraiser understands what it takes to assess a condo both inside and out. Therefore, if you conduct a condo appraisal, you can learn about your property's strengths and weaknesses.

During a condo evaluation, a property appraiser will identify problem areas across your residence. Then, he or she will provide a report that you can review to understand how you can enhance your property's value.

Take the results of a property appraisal seriously. If a property appraiser finds minimal problems with your condo, you may be good to go to establish a fair price for your residence.

On the other hand, if a property appraiser discovers a wide range of condo issues, allocate the necessary time and resources to mitigate these problems. In this scenario, you may need to lower your expectations for your condo's asking price based on the current state of your property. Or, you can perform assorted property improvements to bolster your condo's value.

3. Collaborate with a Real Estate Agent

Want expert insights into how to price your condo competitively? Work with a real estate agent, and you can receive comprehensive support as you prepare to add your residence to the housing market.

A real estate agent can make a world of difference for a condo seller, and for good reason. This housing market professional will teach you about the current real estate market and help you determine the right price for your condo.

Let's not forget about the assistance that a real estate agent will provide throughout the condo selling process, either.

With a real estate agent at your side, you can receive help with condo showings, negotiations with condo buyers and much more. And if you ever have condo selling questions, a real estate agent will be able to provide instant responses.

Set the right price for your condo – use these condo selling tips, and you can move one step closer to maximizing the value of your property.


Your 401K is a great resource of investing for retirement. Many people use their 401k’s as a part of their overall investment strategies, pulling money out of it when it’s needed. When you’re ready to buy a house, you may think that pulling money out of your 401k for a down payment is a good idea. But think again. 


Although you should always speak with a financial professional about your money matters, the bottom line is that is probably not the best idea to use your 401k to supply money for a downpayment on a home. 


First, your 401k funds are pre-tax dollars. That means that you haven’t paid any taxes on these funds. Your employer will often match the amount of money that you put into your 401k, as an incentive to help you save money for your future. You need to keep your 401k for a certain amount of time before any funds in the 401k become available to you without having to pay any kind of penalty. If you decide to take on the penalty, you can often face a cut to your employer’s match programs as well. This is why you must make this decision wisely. 


The Penalties


Anyone under the age of 59.5 pays a penalty of 10 percent to take the money out of the fund. In addition, you’ll now need to pay taxes on this money, because it becomes a part of your adjusted gross income. 


Alternative Actions


If you are looking to invest in a property, there may be other options for you rather than pulling money out of your 401k. While some plans allow you to borrow money from it. However, if your only option to get money to invest in a property is to pull money from your retirement account, it may not be the best time to invest in property for you. 


Keep It Separate


If you’re younger (say in your 30’s or 40’s) your best option is to have a completely separate account that is used to save for a downpayment and other expenses that you’ll incur when you buy a home. In this sense you aren’t spreading yourself too thin as far as investments go. You should compartmentalize your money. Buying a home is a large investment in itself. Home equity can also be a good source of a nest egg in later years when you need it. However, even if a property will be an income property, it’s never smart to take from one investment account to provide for another unless you’re shifting your focus. You don’t want to reach retirement, only to see that your funds have been depleted and you can’t retire as expected.




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