Unfortunately, buying real estate can be tricky and unpredictable nowadays. This is especially true if you’re looking to buy a vacation house. Buying a second home means a lot of extra property tax, and a number of other expenses as well. Thus, before you decide to purchase a second house, make sure you know the best location to do it.
The best place to own a second home might not be what you expected. Because of all the extra property tax, there are two states which are currently amazing for owning a second home. They are Alaska and Hawaii. Due to the centralized tax system, these states have a lower property tax. So, if you’re looking to save money and buy a vacation house, these are the top locations for you.
Benefits of Hawaii
One really doesn’t have to search long when looking for the benefits of having a home in Hawaii. There’s the amazing weather, incredible white sandy beaches and delicious drinks with little straw hats. If this isn’t your cup of joe, how about some incredible tours of the islands? Whether the tours are by land or by sea, they’ll blow your mind.
Imagine all the summers you could spend in one of the most beautiful places on Earth completely rent free! In addition to this, if you ever get bored (which we don’t think is possible), you’ll be able to rent it. With Hawaii being such a popular vacation destination, you’ll be renting your vacation home in no time.
Unfortunately, not all Hawaiian homes are the same. While some are excellent buys, others can cost you too much money. Apart from this, they can prove to be bad investments. In the end, they can even drain funds from you. If you’re not well prepared, you’ll end up in trouble. Thus, you should get informed before you move to one of Hawaiian islands.
Alaska might be the place to buy a vacation house
Even though there are many reasons for you to move to Hawaii. Despite the fact that it’s basically the opposite of Hawaii, this state draws as many homebuyers as the islands. Alaska offers some of the most challenging conditions to live in. This seems to draw many people’s interests and that’s why Alaska is popular.
In addition to the weather, Alaska provides a lot of jobs. This is extremely important for any vacation home owner. You can rent out your home while you’re not using it. And, because of the all the people coming in and looking for employment, your second home won’t be empty for long.
Better safe than frozen
If you’re planning on buying property in this state, you should definitely check out the location before you buy anything. Some parts of Alaska tend to be extremely cold in the winter. Since your vacation home might be unattended for a long time, this cold can cause a lot of damage to your property. When looking for property in Alaska, you should definitely consider whether to lease or to buy your winter home.
Do the research
Maybe you’ll enjoy one of these places so much that you’ll want more than to buy a vacation house. You might decide you’d like to stay in Alaska or Hawaii permanently. Before you decide to make either of these states your permanent place of living, you’ll need to get more information about them. So, first check out if Alaska is for you. If you like what you see, you can decide to buy a home or move there. Next, do the same for Hawaii. Decide what you like there, what works for you, and what doesn’t.
Ask the right questions
When thinking about where you should buy a second house, you’ll need to ask yourself some important questions.
- What kind of activities do you enjoy? – if you’re a surfing and beach person, then Hawaii is for you. However, if you’re an outdoor enthusiast who likes hunting and camping, you should definitely opt for Alaska.
- What do you want from your second home? – Will this be a place you’ll visit every year? Or is it something you plan to rent out and earn money off it?
- What’s your budget? – if you’re looking to buy a vacation house in Hawaii, you’ll need to spend a lot more money than if you wanted to buy it in Alaska. But, changing the location of your dream home is not possible. You can just change the time of the purchase.
In addition to this, you won’t be able to drive to either of these states. Thus, if you have a car, you’ll need to ship it or go without it. It’s always good to have a car with you, whether on vacation or when buying a second house. Apart from this, a vehicle will come in handy in Alaska’s rough weather. Just make sure that you’re using reliable car transportation services to Hawaii and Alaska.
Finally, once you decide where you want to buy a vacation house in Alaska or Hawaii, you’ll need to take things slowly. Remember to think your decisions through and not act on impulse. You should follow your instincts and your wishes when choosing a house. However, then you’ll need to be real about what your options are. It doesn’t matter how much you love your new home if it gets freezing in the winter or flooded in the fall. Get as much info as you can and make an educated choice about your future.