Buying a Second Home or Lake Home

We all know how busy our family lives have become, with school, sports, jobs, errands and social

activities. This busyness is necessary and often enjoyable, but when everyone is doing their own thing, it

limits time that the family unit can spend together. Often when people search the real estate section for

lake homes, they're doing so out of a desire for good quality family time in a relaxed setting away from

the hustle and bustle. For most of us, the second home must offer breathing room, space for family and

friends, and the pleasures of a lake, woods, equestrian center, or a beautiful vista.

Although you may have begun the search for the perfect lake home or second home, when it comes

down to choosing one, the options can be confusing. If you're looking for a location, which location is

best? If you're looking into a development, what do you have to know about the developer? Dallas

realtor, Roger Maese, was willing to take on some of these questions in a recent interview. When asked

what the first consideration should be, Roger responded, "Proximity is what you should look for first. If

you buy a second home in Florida and you live in Dallas you're probably going to get to that home two

times a year. If you buy in close proximity you can jump in the car after your kids' soccer game and be

there in 45 minutes. You don't want to buy a second home that is empty eight or nine months out of the

year. Your second home should be close by, allowing you to be out there every weekend or whenever

you want." Roger recommends that your location should be no more than an hour away, with gasoline

prices and time on the road factored in to your decision.

A second consideration when looking at lake homes is that the house you are building or purchasing be

large enough to accommodate friends or extended family. Friends and family will want to join you, and

you'll want to have the space for them to be comfortable. Ideally, your chosen location will have

amenities and activities for family and friends. Keep in mind that boredom can set in when there is only

one recreational activity available. For example, the lake may be great fun, the harbor may be perfect,

but eventually your kids will get bored with boating, skiing and jet skiing. Some additional things you can

look for are walking trails, clubhouse and pool, equestrian trails, an equestrian center, an ATV course,

skeet and trap range, and a back porch where you can just sit and watch the deer walk by. Thirdly, you'll

want to consider proximity to groceries and medical care. You don't want a location that is so remote

you have to drive a long distance for that quart of milk you forgot, or for that visit to the doctor in the

event of an emergency.

If you want to buy into a development, consider whether the amenities are already in, built and

operational, or are they promised and planned? Are homes currently being built, and how many are

built? If the developer promises amenities that haven't been built, this is something you should be wary

about. If there are a hundred lots and they've only sold one, this is something you should question. Ask

friends and family if they've heard about the development. Ask the general manager who is showing you

around if you can get names and numbers of maybe 3-5 people who are already living there so that you

can find out for yourself what they're happy about, what promises have been kept and what promises

have yet to be kept.

Potential buyers can go online and investigate the developer in order to do a background check and find

out what previous developments they have completed. Roger recommends that you call the developer

and ask questions. A good developer will always take that phone call. Ask what their successes are, what

they consider their failures, what have they learned, and what adaptations they have made to the new

development you're thinking of buying into. If you call the developer and he avoids the phone call, this

should send up a red flag. Roger points out that once you're satisfied that all of your questions have

been answered, and you have visited and looked into the options available near your city, there is no

reason to hesitate. Buying or building a second home can be the best decision you've ever made for

your family. It's important to also keep in mind that this is a very good time to make stable investments,

and real estate is an excellent choice, plus interest rates are lower than they've ever been. If you use

your investment money to create stability and bring your family together as well, that's true wisdom.

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