Pamela Bailey
RE/MAX On the Move | Insight | Advantage | 603-770-0369 | [email protected]


Posted by Pamela Bailey on 10/14/2020

Preparing your home is one of the most important things you can do before leaving for an extended period of time.

Whether you have a vacation home that you spend your summer months in, you travel for work, or you simply have a second property that will be unoccupied for an extended period of time, itís vital to take the steps to preparing the home for the elements while you are gone.

In this article, weíll talk about winterizing, preparing a home for heavy rains, and protecting it from a number of external forces. That way you can rest assured that your property will be safe while youíre away, saving you money in costly repairs.

Winterizing

Many Americans spend the winter months in a warmer climate. Similarly, it has become quite common to purchase vacation homes and cabins in the northern part of the country to visit during the summer months. Regardless, these homes will have to be winterized to avoid damage.

First, and most important, be sure to turn off the water at the main supply sources. Next, open up your faucets and drain all of the lines that carry water throughout your home and yard. Drain, and put away your garden hose, to protect it and your fittings from damage.

Now that youíre protected against water damage, youíll want to protect against potential fires. Turn off and unplug all appliances. Not only is this a way to avoid fire, but it will also help you avoid needlessly spending on electricity.

Itís a good idea to turn your thermostat down so that your home is kept above freezing, but not at a needlessly high temperature.

Preparing a home for extended leave

Even if your home isnít facing the winter cold, there are still measures that should be taken during an extended leave.

Cleaning your refrigerator out completely and then washing the interior will help avoid odors from spreading throughout the house.

Other odors can arise from the drains in your home, especially if itís likely to get hot. To prevent this you can cover up your drains with painterís tape.

Youíll also want to remove any food from your cabinets that could attract mice, ants, or other pests. While youíre cleaning, wash and put away any linens that you wonít be using for some time.

Be sure arrangements have been made at the post office for any mail you receive at your home. You could set up mail forwarding, have neighbors take in your mail, or purchase a PO box for the time youíre away. Regardless, itís a good idea to not have mail piling up outside an empty home as it could attract the attention of those seeking to benefit from your house being vacant.

Before leaving, make sure all windows and doors are closed and locked. Remove any spare keys from obvious locations around your home, and make arrangements for someone, such as a neighbor, to check on the home and report any problems to you.




Categories: Uncategorized  


Posted by Pamela Bailey on 3/6/2019

Buying a vacation home is an important goal and milestone for many Americans who want to make the most of their holidays and plan for retirement.

Vacation properties neednít be lavish or expensive to still be a perfect way to enjoy the winter months at your home away from home. Furthermore, owning a vacation home can prove to be an excellent financial asset that increases in value over time, as more people seek to scoop up properties in your area.

In todayís post, Iím going to talk about some of the most important things to look for in a vacation home to help you kick off your search. Whether youíre months away from buying a home or the idea of a second home is still a far-off dream, this article is for you.

1. Consider locations

The most important aspect of any vacation home is that itís located in the perfect place for you to enjoy. Whether thatís a remote getaway in the mountains or a beachfront property in Florida, your plans for the home should be your number one priority.

If itís your ultimate goal to retire and move into your vacation home someday, consider what it would be like living in that location full time. Is it close to amenities like grocery stores? Or, if youíre moving to a coastal area, will the traffic drive you crazy?

On the other hand, if you donít intend to ever move into your vacation home full-time, it might be wiser to choose a location that will suit your familyís vacation needs while remaining a great asset to sell down the road.

2. Spend a week at your destination before buying

Some homeowners have a dream of buying a vacation home in a place theyíve always wanted to visit or have simply heard is a great place to own a vacation home in. The problem with this is that you might find, once you arrive, that you donít want to spend several weeks or months there after all.

It might get too crowded during vacation season or you might decide that there isnít enough to do that will keep you busy for extended stays.

To prevent buyerís remorse, spend a week or two in your planned vacation home destination to make sure it really is the best spot for you.

3. If you plan on renting, know what to expect

Many Americans purchase a vacation home with the intention of renting it out while they arenít using it to earn extra income. While this can be a great way to generate income, you will need to be prepared for becoming a landlord.

Look up local rental laws in the area to make sure you understand your responsibilities. Furthermore, understand that renting out a property part-time takes work; youíll interact with prospective renters, filter out those that you think arenít suited for your home, and handle problems with the property as they arrive.

If you keep these three things in mind, you should be able to find the perfect vacation home for you and your family.




Categories: Uncategorized  


Posted by Pamela Bailey on 7/1/2015

Have you always dreamed of owning a second home? While owning a vacation home may see like a huge expense, it can also provide some savings. There are special tax rules and regulations that apply to second properties that could have you vacationing on the cheap. Before you buy a second home you should consider how you will use it. The Internal Revenue Service will categorize the home for tax purposes on how it is used. Here are the ways it can be categorized: Residence: It will be considered a residence if you use it for personal housing at least part of the year. If your home is a residence you can deduct the mortgage interest under your vacation on line 10 of Schedule A. Investment: If the property is rented most of the year, it's considered a rental or investment property. In order to have a deduction on an investment property your†rental deductions†can't exceed gross rental income, less interest, taxes, and costs to advertise the property. If your income totals more than the†rental income received†you won't be able to list the loss (the excess expenses) on your income tax return. Another benefit of a rental property is that you†may be able to deduct the value of your rental property over time. This is called depreciation.†Depreciation is the†wear and tear on a property over time. This can all be confusing so it is best to contact a tax advisor before purchasing a second home. There are some other key points to keep in mind: If the property is purely an investment, all the expenses are deductible against the rent. You don't have to claim income if you rent the property for less than 14 days a year. There are lots of other rules about timing and claiming a property as a residence or an investment. Always make sure to consult with your tax advisor.