With remote working/learning on the rise, we can more easily hop in the car and discover a nice change of scenery together. Maybe you’ve considered purchasing a semi-permanent getaway or are looking to diversify your investment portfolio. Either way, I have a few helpful tips you’ll want to keep in mind.

1. Location. Location. Location.
You could spend $100,000 for Property A. But if it’s not in the right spot, you just wasted $100,000 you could have spent on your retirement or children’s education fund. On the flip side, you could spend $250,000 on the right Property B and hit the jackpot...20 years later. Real estate fluctuates in the short-term but appreciates over time, averaging 4-5%. After 20 years, with proper maintenance and economic factors, Property B could be worth $547,000 - more than doubling it’s value!

2. How to pick the right location?
Factor in what’s nearby. For example, I like to consider ease of access (train/highway nearby), amenities (beach/lake access, shopping districts, national parks, breweries/wineries), and conveniences (grocery stores, shopping districts, etc).

3. What are your bigger goals?
Are you planning to vacation at this property throughout the year? Is it strictly a cash-cow to bring in some extra revenue? Could you rent it out until your little one makes it to high school, and then use the profits of selling to pay for his/her education? Take the time to decide what you envision for this piece of property in the long-term. This will impact what you end up purchasing.

Most importantly, what brings this all together, is working with the RIGHT REALTOR, whether that’s me or another realtor I connect you with. The right realtor works by referral and is in it for the long-term. Finding the right vacation/rental property can take time. You need someone who you can trust to guide you through the process, makes sure you have the right information, has a helpful rolodex of professionals, all while being patient along the way. These are just general tips since real estate is specific to the property and location. Have questions or comments? Let’s talk! I’m only a phone call away and I’m never too busy for your referrals.

Yours to count on,
Jessica DeVries

If in doubt: Use the Benjamin Franklin test! Write down a pros/cons list when you find a piece of property that you really like. It may sound like you’re back in elementary school but, trust me, it works. Usually the right decision becomes clear once you put pen to paper.