Ignite FB Tracking PixelWhere Should You Buy a Second House? - Terry Naber

Where Should You Buy a Second House?

by Terry Naber 05/19/2019

Purchasing a second home should be a fun, exciting experience. Yet homebuyers who fail to consider where they want to pursue a second residence may struggle to achieve their desired results.

If you know you want to buy a second home, it often helps to narrow your house search to residences in a select group of cities and towns. Then, you can evaluate available residences in your preferred cities and towns and boost the likelihood of finding a house that you can enjoy for years to come.

Of course, determining which cities and towns where you want to pursue a second house can be difficult. Yet there are lots of things you can do to hone your house search, including:

1. Evaluate Your Homebuying Budget

Your finances likely will play a major role in your ability to pursue and acquire a second residence. As such, you should examine your finances closely so you can establish a homebuying budget.

If you have paid the mortgage on your current house, focus on the mortgage costs associated with a second home. For example, if you want to find out how much you can afford to pay for a second home, you can meet with bank and credit union mortgage specialists. This will allow you to get pre-approved for a mortgage so you can enter the real estate market with a budget in hand.

Comparatively, if you still have a mortgage on your present house, you should consult with your lender. This will allow you to determine if you qualify for a second mortgage. Also, you can get financial guidance so you can figure out where to search for a second house that falls in line with your finances.

2. Establish a Homebuying Timeline

Think about when you want to acquire a second residence. Next, you can create a homebuying timeline to help you achieve your desired homebuying goal.

A homebuying timeline should remain flexible. If you want to purchase a second home in the mountains, for example, you should account for the time it may take to transport various personal belongings to this residence. And if problems arise that delay your efforts to acquire a second home, you should be ready to adjust your homebuying timeline as needed.

3. Hire a Real Estate Agent

Let's face it – buying a second home is rarely simple, regardless of your property buying expertise. But if you hire a real estate agent, you can receive extensive assistance as you search for a second residence.

A real estate agent understands the ins and outs of the housing market. He or she will share real estate market insights with you, along with providing tips and recommendations. As a result, a real estate agent will help you find a second home in your preferred city or town as quickly as possible.

Take the guesswork out of finding and buying a second home in the city or town of your choice – use the aforementioned tips, and you could streamline your quest to acquire a second residence that matches your expectations.

About the Author
Author

Terry Naber

Your "Good Neighbor" In Colorado Springs Real Estate Since 1990

Broker Associate (28+ years experience)

Certifications:

  • CRS
  • CDPE
  • LHP
  • MRS
  • CFE
  • MRE
  • CNE
  • IRES
  • SRES

Specializing in

Specialties:

  •  Buyer's Agent
  •  Listing Agent
  •  Relocation
  •  Foreclosure
  •  Senior Real Estate Specialist

Terry is long time resident of Colorado Springs and has been an award-winning licensed Realtor since 1990 when Colorado Springs was "Repo Capital" of the United States.  Getting into the business when most agents were getting out of the business was a challenge, but one that she eagerly embraced because she came in with a different business philosophy of putting her clients interest above all else, serving them with integrity and care, She soon had all the business she could handle from appreciative buyers and sellers.  Terry's commitment to being at the top of the profession for her clients has resulted in awards for every year of her 28 years in real estate and several prestigious designations:

  •  RE/MAX Properties 2015 Client Service Award
  •  RE/MAX Lifetime Achievement Award for sales surpassing $100 million
  •  RE/MAX International Hall of Fame Award
  •  The CRS (Certified Residential Specialist designation held by only about 7% of all agents); CDPE-Certified Distressed Property Expert; CNE-Certified Negotiation Expert; RFC-Residential Finance Certification; IRES-International Residential Specialist; LHP-Luxury Home Professional
  • Managing Broker's License

Terry can help you in any phase of Residential Real Estates-buying or selling single family homes; investment properties, luxury properties; town-homes/condos; income properties; new construction and resales; vacant land, short-sales; foreclosures and more.  Call her today for a free consultation 719-590-4796.

Experience, Commitment, Hard Work, Enthusiasm, Integrity, Results

When it comes to a successful real estate transaction, you should have seasoned experienced agent on your side.  Terry is experienced, confident, knowledgeable, and above all, she cares.  Whether you’re selling or buying a home, having an agent of our caliber representing you is invaluable.  She will be your advocate, your advisor and will relentlessly use her expertise to pursue your goals!

Get a positive, helpful partner for buying or selling a home:

  • Trusted resource for answers about the process
  • Innovative marketing strategies
  • Expertise about neighborhood features
  • Ability to target home searches
  • Strong negotiation skills
  • Support through the closing and beyond
  • Years of Experience

Find Your Next Home

In this incredibly difficult Seller's market, you need someone who knows how to beat the other buyers to the best homes, get your offer accepted and knows the area inside and out !  Terry can work with you to find the right home at the right price for you, including the neighborhood amenities that matter - not to mention the essential criteria you have for your ideal home.

Sell a Home

When it's time to move, you need someone who will market and advertise your home, show to prospective buyers, negotiate the purchase contract, arrange financing, oversee the inspections, handle all necessary paperwork and supervise the closing.  But even more importantly, an agent who has the experience and knowledge to prevent problems from the get-go and solve the ones that can sink your real estate ship.  She can take care of everything you need, from start to close, making the difficult task of selling less stressful.

Consult on Home Selling Tactics

Often times buyers don't visualize living in your home the way you do.  Terry can help you make your home attractive to its ideal audience - which can help you get top dollar in the shortest time.  Staging and photographing your home, recommending minor repairs or improvements can make the difference between a home getting stale on the market and one that is sold quickly for the maximum net to you.