VACATION HOME OWNERSHIP: Now The Real Work Begins
You've spent years saving the money. You've invested countless hours researching. You've committed weekend after weekend taking tours. You've made numerous offers and dedicated yourself to endless negotiations. After all your diligence, time and hard work, you've finally done it. You are now the very proud owner of a luxurious vacation home. At last, you can finally relax and enjoy that rejuvenating vacation you've been longing for, in the comfort of your very own home! But wait…there's still work ahead.
Blinded by the anticipation and excitement of acquiring a vacation property, many buyers overlook the daunting task of managing and maintaining their new second home. Like any property, vacation homes require constant attention, upkeep, and repair. Problems or even emergencies may arise as a result of weather, accidents and even general use. According to the president of the American Society of Home Inspectors, John Ghent, "simple wear and tear from weather and age occurs in every home. It is wise to fix any problems before they lead to extensive and costly repairs."
Solving maintenance problems requires a great deal of time, effort and money, especially since it is likely your vacation home is hours away from your primary residence. Owning a second home can be like working a part-time job. Even worse, dealing with the time consuming hassles of vacation home ownership can detract from highly anticipated relaxation.
Here are some simple steps to efficiently managing your second home.
1) Investigate: Begin by thoroughly investigating your second home. Answering questions about your home's condition and history will set the stage for future projects. When were the walls last painted? When was the exterior painted? How old are the appliances? The carpet? Are there any cracks in the foundation, driveway or patio? What kind of wood was used to build the deck? How should it be treated? How does the heating system work or the water system? What types of shingles are on the roof and how old are they?
Home Inspection FAQ
2) Research: The environment will play a timeless role in the condition of your second home, therefore researching weather patterns will define the necessary precautions and timing for which to protect your vacation home. When do the seasons change and what weather is associated with each? Do the temperatures drop below freezing? What is the annual snowfall or rainfall? How is your house and property affected by water run off? Is there potential of flooding? How hot are summer temperatures? Is your lawn, garden or house susceptible to sun damage? Are there hurricanes or windstorms? Is there any time of year when your house should be completely shut down?
3) Brainstorm: After thoroughly conducting your investigation and research, its time to compile a list of household tasks. What needs to be done? Start with simple and frequent jobs such as: mowing the lawn, raking the leaves, mopping the floors, window washing, taking out the garbage, cleaning the bathrooms, dusting, snow removal and so on. You may even decide how often each duty should be done.
Then begin brainstorming larger projects that require more time, but are completed less often. Examples include: cleaning appliances, testing fire alarms, painting, landscaping, carpet cleaning, chimney sweeping, removing leaves from the gutters, draining pipes, caulking windows, staining decks and more. Then decide whether you'll perform these duties annually, bi annually or once every few months.
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4) Plan: Once your task list is finalized, start planning the implementation of your projects. A blank calendar works well for this task. Based on the frequency of the duty as well as its relevancy to hot, cold or wet weather, plot projective dates for each task. For example, you'll want to drain your sprinkler system in the fall before freezing temperatures arrive. Your calendar will be a guidance tool to keeping your second home clean, safe and protected throughout the year.
Home Maintenance
5) Implementation: Now that you've organized the details of managing your home, it's time to do it. Your first option is to do it yourself. This requires time and effort in preventing problems, reacting to emergencies and coordinating solutions. Few people want to worry about repairs and odd jobs while on vacation and choosing the "do it yourself" route can turn holidays into chores.
Another choice is to hire a full-time property management company. A local property manager will serve as your eyes and ears while you're away. Not only do they take care of landscaping, yard work, snow removal, cleaning and general upkeep, they are also immediately available in the case of an emergency. Property management services are especially valuable if your vacation home is faraway from your primary residence.
A third option is to purchase in a community or development that has a very active homeowner's association. Associations can provide services including snow removal, yard maintenance and trash disposal. At private residence clubs (www.destinationclub.com) homeowner associations provide extensive services including exterior and interior maintenance, housekeeping, landscaping, window washing, snow removal and even services like pre-arrival grocery shopping, shuttle service, concierge and utilities payments. Owners don't have to worry about anything.
Buying a second home may seem like a lot of work, but owning a second home is where the real work begins, unless you opt for residence club ownership. The more organized you are and the more you entrust responsibilities with outside sources, the more you'll be able to truly vacation on your vacations.
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