I'm just starting to consider buying a vacation home as an investment. I live in Austin, TX, and I'm pretty sure I could afford something in the $150K range for my first property. My question is:
where would you suggest I start looking in Texas?
just get a real estate agent?
are the websites that list vacation rental properties (preferably fully furnished) that are for sale?
Once I get over this hurdle, I'll be so much happier. Thanks,
Aaron
newbie - how to buy?
Re: newbie - how to buy?
No, get three. Interview them and piick the one that you like best. If you don't like any of them, keep looking.aqlong wrote:just get a real estate agent?
Good Luck!
My 2 cents.
Waves from America
Aaron,
I would recommend checking www.vrbo.com as a first stop -- it is an American site that has a lot of American properties. You can use that to get an idea of what types of vacation rentals are available in Texas. Some websites do list properties for sale, but I don't know if VRBO does. But either way, pretending you're a vacationer looking for a place in Texas should help you figure out what type of things you will need/want to offer, and what rental price you can expect to get.
If you're looking for a property in the States, I'd recommend finding an exclusive buyer's agent, after shopping around to find someone who has experience finding the type of properties you're interested in. (Joanna is absolutely right -- you should not just go with the first agent you see, and many agents do require that you sign an agreement with them. So ask for and check references, ask lots of questions, etc.) A real estate agent will have access to the MLS, which is where most properties are listed. And an EBA in particular is out solely to find you the property you want. That's not always the case with an agent who both buys and sells properties -- they often push their buying clients to buy a home they have listed, so they make double the commission.
As the buyer, using an agent won't cost you anything, because the seller pays the real estate commission. (I believe that's US-wide and not just in the two states I have experience with.)
It's hard to give other advice because I don't know how large you want your property to be and where you generally want it to be located -- I don't know Texas, so I don't know if $150K is a realistic price for a furnished property in a good area.
Good luck!
I would recommend checking www.vrbo.com as a first stop -- it is an American site that has a lot of American properties. You can use that to get an idea of what types of vacation rentals are available in Texas. Some websites do list properties for sale, but I don't know if VRBO does. But either way, pretending you're a vacationer looking for a place in Texas should help you figure out what type of things you will need/want to offer, and what rental price you can expect to get.
If you're looking for a property in the States, I'd recommend finding an exclusive buyer's agent, after shopping around to find someone who has experience finding the type of properties you're interested in. (Joanna is absolutely right -- you should not just go with the first agent you see, and many agents do require that you sign an agreement with them. So ask for and check references, ask lots of questions, etc.) A real estate agent will have access to the MLS, which is where most properties are listed. And an EBA in particular is out solely to find you the property you want. That's not always the case with an agent who both buys and sells properties -- they often push their buying clients to buy a home they have listed, so they make double the commission.
As the buyer, using an agent won't cost you anything, because the seller pays the real estate commission. (I believe that's US-wide and not just in the two states I have experience with.)
It's hard to give other advice because I don't know how large you want your property to be and where you generally want it to be located -- I don't know Texas, so I don't know if $150K is a realistic price for a furnished property in a good area.
Good luck!
Brooke
re: newbie - how to buy?
thank you both...
i find it interesting that there don't appear to many websites that exclusively list vacation homes for sale... but it sounds like an agent is the way to go... i guess i'll start with the agent i bought my home with...
thanks!
Aaron
i find it interesting that there don't appear to many websites that exclusively list vacation homes for sale... but it sounds like an agent is the way to go... i guess i'll start with the agent i bought my home with...
thanks!
Aaron