When you are considering buying a second home in Big Canoe there are some important things that a buyer should consider about the purchase. These things can impact the home’s future value, the ease of the transaction, the price you pay and how you use the property. The following list will assist you in the purchase of your second home.
- Make sure you consider how often you will use your new second home and where you will want it to be located in the Big Canoe community…close to the amenities or in some of the more remote areas of the community.
- Understand what drives the home values in Big Canoe beyond the home itself. Things such as location near the amenities, views from the home, value of nearby homes and lake, golf and creek front lots will impact the value of a home.
- Elevation of the home can provide views, but also can make access difficult at some times in the winter due to ice and snow.
- Be familiar with the community covenants so you understand rules of the community which can limit what you want to do with your property.
- Understand the cost of operating the home including utilities, taxes, insurance and maintenance. You should have an idea of the monthly costs for your second home investment.
- Understand the operation of the community Property Owner’s Association and its financial situation. You should also understand any additional condo association rules and the association’s financial situation.
- Buyers should gather historical information on Big Canoe real estate market so they understand how it has performed over the last 5 years.
- Make an assessment of the best time to buy a second home in Big Canoe. Winter often offers the best time to make a second home purchase since real estate activity is usually slow.
- Get your financing in place before you start looking so you know your purchasing capability. This will provide you with the ability to make an offer and know that you will have the funds for the purchase.
- If you plan on renting your second home make sure you purchase a home in an area that improves its rental ability. Being near the Big Canoe amenities (clubhouse, golf, tennis, lakes, fitness center, hiking trails, etc.) improves the desirability of rental properties in the community.
To get the best advice on the purchasing a second home in the Big Canoe community contact Harry Norman, Realtors (770-893-2400) today and speak to one of our expert agents.