Smart Families Are Buying Up Vacation Homes for Sale In Ohio

The last few years have been great for vacation home sales, according to the National Association of Realtors. With rising home prices and stock market gains, the market was flooded with people nearing retirement, and the median vacation home sold for approximately $150,000/-. There are many upsides to buying a vacation home. You can decorate it as you wish, leave your clothes there, rent out the property if you want and possibly even retire there. A vacation home would be perfect for large family gatherings.

Buying For Enjoyment

A vacation home can be purely for pleasure, if that's what you want it to be. Vacation homes for sale in Ohio are in high demand, as people flock to the state. There are a lot of beautiful vacation spots in Ohio, and you could fall in love with a specific location, and in that case purchasing and maintaining a vacation property will be worth it. You could get away anytime, without having to book hotels. Knowing that you had your own vacation home means you can schedule your vacation time at your convenience.

Buying As An Investment

If you do your research, you'll find that vacation homes for sale in Ohio are a hot commodity because waterfront property is only increasing in value in and around Indian Lakes. When you buy in a desirable location can mean a great investment. Your return on investment will come in the form of renting the property out to others who want to vacation there. Over time, that can generate considerable income. And you can always opt to use it yourself, when it's not being rented out.

Buying For Retirement

Purchasing a vacation home with the intention of selling your current house and retiring in it can be a huge money saver for you. How? You'll be reducing your mortgage debt before it even becomes your primary residence. And once you retire, the profit from your sold home can go toward the current mortgage balance of your vacation home. This will also make your transition easier, as you'll be familiar with the area already. Meanwhile, you can rent out the property and tap into a secondary source of income.

Vacation homes for sale in Ohio can be a big commitment. It's a decision that come with personal and financial responsibilities. However, the housing market is still very active and rates are still pretty low, so now might be the perfect time to buy that vacation home. Consider the waterfront property in Indian Lakes Ohio. It would make a good investment, an easy place to rent, and a great place to use in your own downtime.

Sorting through the Lake Cabins for Sale in Ohio

Ohio has some truly beautiful lakes, both natural and man made, that people come from miles away to view and enjoy. One of the must-see lakeside areas is Indian Lake right here in beautiful Logan County. If you've ever dreamed of living by the water, there are plenty of lake cabins for sale in Ohio. There are a lot of benefits to living on waterfront property, from the never-ending vacation to the gorgeous view. Learn how you can find the best lake cabins for sale in Ohio and move into your dream home!

When you look at lake cabins for sale in Ohio, you will see how much privacy they afford you. And there's a ton of water activities that you can do like boating, kayaking and fishing. Lake cabins aren't easy to come by, and they are in short supply. So when you do find a few options, how do you sort through them?

It goes without saying that you should carefully and comprehensively inspect the lake front property that you're considering. Water is great to live next to, but not great if it gets into your home. An expert inspection can help you understand whether you might have water intruding into the basement, or mildew and mold issues due to high moisture levels in the air.

Lake cabins for sale in Ohio are great, but not all waterfront property is the same. As you tour the available lake cabins along the coastline of Indian Lake with one of our award-winning Ohio real estate agents, consider the kind of privacy and lakefront experience your family wants. Many lake cabins for sale around Indian Lake offer lake access and proximity to fishing and swimming areas. Consider the proximity of neighbors if you're concerned about privacy.

Waterfront property in Logan County doesn't stay on the market long so speak with one of our agents about getting notified when desirable new properties become available. This allows you to keep an eye on the market to get the best lake cabins and waterfront homes in the area before others scoop them up.

Finally, it is always a good idea to check insurance requirements. A waterfront property will likely have an increased risk of flood damage. Regular insurance doesn't cover flood, and you will have to buy it separately, and the cost could be prohibitive for some homeowners. Knowing the costs of extras up front will help you decide whether you really want the property to begin with. Let's be honest though, who wouldn't want to live along Indian Lake, especially during the summer months when so many people flock to the are for boating, fishing, and lakeside parties. 

For many home buyers, owning a house by the lake is a dream come true. It is achievable for you and your family with help from expert realtors in the Indian Lake area who know where to find the best lakeside cabins and homes. With some careful planning you will be able to find the right lake side property and get moved into your dream home!

Choice Properties Real Estate Agents know more about lake cabins for sale in Ohio than anyone in the region.

Call us today to find out what exciting new properties are available for you and your family!

 A vacation home purchase can be a great place to spend time with family and friends or as an investment property. It is essential to do research to make sure one's money is invested in a property which will continue to give back for a long time to come.  If you're on the lookout for a great vacation lake home, here's our advice on how to find the perfect vacation home on the lake here in beautiful Ohio.

Opportunities

Many opportunities exist to find the perfect vacation home on a lake. Buyers of new-construction vacation homes have many options in various price ranges. The opportunities for existing homes on the market exist, but price points may vary as will wear and tear on the property which can create more headaches than opportunities. It is worth doing some research up front on the kind of property desired prior to purchasing.

Multifamily Properties

Vacation home buyers may consider properties designed for families or people who will use the space part-time and want a higher-than-average return on investment when it is not in use. Multi-use properties are more ideal for individuals willing to rent space out than families who plan to reside in the space on a more full-time basis/

Plan to Rent

Plan for the possibility the home may become a rental property at some point. Circumstances change and the ability to save an investment might depend on converting vacation property to one that produces income. Look into rules which may prohibit rental of the property or prevent a person from renting it out.

Create a Business Plan

A vacation home that will be owner-occupied or for rent are different scenarios. Calculate expenses for the property and prepare for the unexpected. Colder-weather locations, such as Ohio, may require extra money for burst pipes or a leaky roof.

Purchase in a Desirable Market

Even if the plan is not to use the property for one's own vacations or to rent on a part-time basis, it is essential to visit on a regular basis, twice a year at minimum, to be sure the property is being well-maintained. Location matters for vacation homes. A property located 10 blocks from the lake may be less expensive but can decrease the resale price or ability to rent it out. Looking to stay in one which is closer to a lake, if desirable, can increase the home's desirability and value.

Insurance

Obtain insurance for a property near the lake. Flood insurance for waterfront property may make it an expensive investment but is worthwhile if done at a reasonable rate.

Some advance preparation, research and due diligence can help individuals find a profitable investment, a vacation home of one's dreams and is sure to bring joy to any person's family for years to come. Contact a qualified Choice Properties real estate agent with years of experience buying and selling in the Bellefontaine area to start looking at available properties and seeing what's available to make the dream a reality.