The decision to purchase a vacation property should be made with caution, according to the advice of the Association of Private Builders (VPB). A vacation apartment or vacation home can be a sensible investment. Nevertheless, such a property should be examined just as carefully as the main residence so that it does not become a burden.
Three key questions are crucial: Can the future owners afford the purchase and the running costs? Are all family members prepared to make a long-term commitment to a vacation destination? What is the structural condition of the property? According to the VPB, it must be borne in mind that vacation homes must be constantly maintained. Repairs and ancillary costs are incurred that may be higher in some vacation regions than at home.
Further costs may be incurred through planned renovations and conversions to adapt the property to personal living requirements. This is why reliable help on site is important. After all, small repairs that would normally be easy to fix can cause a great deal of expense in a vacation property. Potential buyers should therefore clarify any necessary adaptations - for example with regard to the accessibility of the property - for themselves and, if necessary, future tenants.
Source and further information: vpb.de/guide "Check vacation property critically before buying!"
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