Looking to purchase a lake home or cabin? Part 1 of the lake home buyer series.
Part 1 – Getting started
Purchasing a lake home or cabin is different than buying a primary residence in a town or city. Whether the lake home will be your main residence or a second vacation home, there are other considerations to understand. This series will provide you with some basics about the type of lake, the type of home or cabin, and other information you need to know to make the best decision, and a good investment, about purchasing a lake home or cabin.
Just as in buying any home or property, here are the first steps to take:
- Visit with your loan officer and get pre-approved, or have proof of cash funds
- Know your budget - what the bank will loan you.
- Know the area you want to cover. The most efficient use of your time and the Realtor’s time will be an area of not more than 50 miles radius of a specific town, or, in general, the county, if you know that.
- Do your initial researchon-line. Have a general idea of what the market is doing; you can ask your Realtor good questions to confirm.
- Find a knowledgeable Realtor. Someone that knows the local area well, the lakes, towns, and information about the area.
- Meet first to begin a good relationship. Ask lots of questions. Your Realtor will be doing the same to get to know you and begin the process of finding the properties most appropriate to your needs and life style.
Part 2 in the Lake Home Buyer series is Choosing the Lake or Water Type that's Right for You.
Active Rain Channel: Lake Home Buyer series