Wanderlust World Wanderlust World Owning your own vacation property, whether a cabin in the mountains or a home on the beach, can be rewarding. Unfortunately, there are also some disadvantages of maintaining a holiday home. However, these problems can be overcome.
One of the great advantages of a vacation home is you use it when you have time and don't have to think about it the rest of the time. This idea sounds nice, but in practice it is usually not quite that simple. From frozen pipes to overgrown lawns, a lot can happen from one vacation season to the next. If you maintain a vacation home, hire a caretaker to check on the property on a regular basis--once a month is often enough--or commit to visiting your vacation home once a quarter to check up on it yourself. There is nothing less relaxing than getting to your vacation home and finding that there are chores to be done before you can relax.
Along with maintenance, another excellent reason for someone to check in regularly on your vacation property is to keep an eye out for accidents. A broken window at your regular home is not a big deal. A broken window at a home you don't visit for three months at a time can leave you with water damage or animals in your vacation home. Although regular maintenance can catch these things, there may still be a lot of time between when an accident occurs and when it is discovered. Broken pipes, leaks and holes can all cause substantial damage if not caught early on. If possible, trade off with other vacation homeowners to do quick inspections of each other's homes when possible. However, to some degree, this is simple a risk that has to be accepted with a home that you do not use regularly.
As you might imagine, a vacation property, especially one that is not lived in for much of the year, can be a target for crime. Some vacation homeowners create housing collectives so they can form a neighborhood watch or share the cost of a security presence, even if it is just a drive-by check every evening. Security systems, including timed lights, are also an excellent idea. Most important, one should not leave anything in a vacation home that they could not live without. Make sure you are insured and don't leave heirlooms or other important items in a home that you do not frequent.
Maintaining a vacation home is not cheap. Many vacation homeowners take into account the cost of a mortgage and property taxes, but fail to take into account the rest of the costs of a vacation home. A light left on in a room may not be discovered for months. Heat left on will run up quite a bill, and it may need to be left on to combat mildew or freezing temperatures. Other utilities, such as cable and phone, may have to be maintained even when they are not in use. These costs are what lead many people to rent out their vacation homes when they do not use them, or opt for time share condominiums. A thorough walk-through before you leave your vacation home is a great way to make sure that everything is off while you are gone, keeping your bills low.
If you have a vacation home that you do not often use, someone may decide that it is abandoned and decide to use it and you could not discover it for quite some time. As noted above, regular inspections and security measures such as a neighborhood watch will prevent this. Another solution is a live-in caretaker. This will also take care of any security and maintenance issues. Many caretakers operate on a trade basis and are not necessarily salaried. A local may be perfectly happy to live in your vacation home rent free and make other arrangements a few weeks or weekends a year in exchange for light maintenance and keeping an eye on your vacation home.