Showing posts with label Tucson Vacation homes. Show all posts
Showing posts with label Tucson Vacation homes. Show all posts

Monday, November 26, 2007

Important factors for second home buyers

Just after the holidays is about the time I begin to receive massive inquiries from people looking for vacation/second homes in Tucson. It's not surprising that their interest peaks about this time of year; most of them are living in cold, wet climates and see Tucson's dry, mild temperatures as perfect for rejuvenation and relaxation. Whether you're looking for the haven you plan to retire in or a home where you'll spend your vacations, it's important to think about what features and amenities are important to you now as well as in the future.

Finding the "perfect" second home is no easy task, especially when you need to think about what your future wants and needs may be to ensure you make a wise investment. Although our personal tastes may change with time, we're generally drawn to communities that fit our lifestyle. Some of the most important factors to consider when buying a second home include -

Cost of living - It's amazing to see the difference in cost of living between cities. This difference can have a major impact on how much you enjoy your time in your new home. Make sure you review the cost of living to see if you can afford to live there while enjoying the lifestyle you planned so long for. Check out a cost of living calculator to see what you'll be paying in Tucson.


Weather - This is one area where Tucson stands out. We see 325 days of sunshine a year; who wouldn't love that? Still Tucson does see some hot weather that might not appeal to everyone. Even if you only plan on living in your second home part time, it's important to think about what the weather is like throughout the year. In the Midwest you'll see the occasional tornado and flood, and in Florida you might be prone to hurricanes. Besides being scary and inconvenient, these weather forces also impact your insurance costs.

Health care - If you're searching for the home you plan to retire in, access to adequate health care could be one of your top priorities. It's important to know if there are good hospitals, clinics, specialists and dentists in the area you plan to live, so research is key to ensuring you'll be close to the facilities you may need. The American Hospital Directory lists all Tucson hospitals and their locations.

Outdoor Activities - Are you the outdoorsy type that enjoys walking and hiking, or spending the weekend at the lake on your boat? It's important to ask yourself what your favorite outdoor activities are so that you buy a home that's close to what you love to do. In Tucson you can hike in one of our desert's beautiful canyons, coast on endless bike routes and paths, or spend the day playing a round on any one of Tucson's championship golf courses. During the winter you can even find skiing on Mount Lemmon. But you won't find any lakes close by! Before you buy, find out if the activities you love are close by so you can continue to enjoy them for years to come.

Active Social Life - If you enjoy having an active social life it's important to look at homes in communities that promote social bonds and togetherness. Active Adult communities are great for meeting and socializing with neighbors that share similar interests by participating in various clubs and organizations. It's also important to have easy access to amenities like restaurants, entertainment and shopping so you'll have more activities to share with your new friends.

Property Tax Rates - Property tax rates vary from city to city and state to state, and it's an important factor to consider before you buy.

Covenants - These rules and restrictions are passed on to buyers when they purchase a property, but you can obtain a copy before you decide to buy. They're common in almost every Tucson community, so it's a good idea to review the bylaws beforehand to see if there are any rules you don't feel you can follow. If you don't like the rules then cross that community off your list and move on.

Safety - This is one of the most important factors to consider when you're searching for your home. Too often buyers fall in love with a home and jump into the purchase without finding out anything about the neighborhood. Researching local crime stats helps you to know if you'll feel safe and comfortable in your new community, and it's also a predictor of future appreciation and resale potential for the home.

These are just a few of the things to consider when you're beginning your vacation/second home search. The all important first step is to think about what you enjoy in life and then find a place where you can live and continue to enjoy it. The rest is just some investigation, most of which can be done on a computer in the comfort of your own home!

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Sunday, November 11, 2007

Retirement in Tucson; is it for you?



Each year at about this time homeowners living in colder parts of the country begin casually searching the web, trying to learn a little more about Tucson and our housing market. Who wouldn't? The thought of facing a cold, wet winter anywhere makes me appreciate Tucson all the more! Tucson Arizona remains a popular choice for retirees as well as vacation home buyers. Our mild climate, scenic landscape and endless array of activities draw thousands of new residents to Tucson annually. Living in sunny, warm paradise is an attractive alternative to snow !

Most retirees that buy homes in Tucson come from other parts of the country. Although the thought of leaving the comfy home and city they've spent so many years in may be scary to some, the idea of a new lifestyle in a new hometown appeals to other's sense of adventure. Deciding to buy a retirement or second home can be an emotional time that requires a lot of thought, so it's important to ask yourself a few questions before you sign on the dotted line....

- Do you enjoy the warm sun, a rainy climate or a cold snowy environment?
- Is your goal to live closer to family or farther away? Would you enjoy living in an active adult community, or do you prefer living around a younger college crowd?
- Would you enjoy living in a community with activities like golf, tennis, swimming or hobby and social clubs?
- Would you like to live in a home that's smaller, larger or the same size as your current residence?
- Would you prefer living in a condominium (less maintenance for the homeowner) or a detached home?
- What type of floor plan will fit your lifestyle? Do you enjoy gourmet cooking, or gardening? Do you like to have grand kids stay the night, or do you need lots of extra storage space?

Thinking about all of these factors carefully before buying helps you find a home that will keep you happy for years to come. Whether it's your retirement or your vacation home, it should be a place where you look forward to spending time and enjoying your future!

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Tuesday, October 30, 2007

Senior Real Estate Specialist Designation in Tucson

Just finished my first day of classes for obtaining the Senior Real Estate Specialist designation and I have to say I'm amazed at all the information I've learned. This is the first time that this designation is being offered in Arizona, and the class consists mostly of Baby Boomers, so I initially felt out of place (I'm a Gen X). Still I'm glad I signed up because my business focus tends to be on retirees and vacation/second home buyers. This group of classes has an incredible amount of information that will help me develop as a Tucson real estate professional that can work with a growing population of second home buyers preparing for their future. Tucson is a destination city, and the climate, abundance of activities and easy going lifestyle are big attractions for retirees and vacation home buyers. Baby Boomers are currently looking for temporary vacation homes that will eventually become primary residences in retirement. And an interesting fact; 10,000 people become Baby Boomers every day! I'll fill you in tomorrow once I finish up the class!
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Saturday, September 29, 2007

Time is Perfect for Buying a Tucson Vacation Home


With all the doom and gloom that's being broadcast everywhere by the media, it's nice to hear that some areas of real estate are stronger then ever. According to an article in the September issue of Today's Buyer' s Rep, it seems that many people are taking advantage of lower home prices to make their dream of owning a vacation home come true. A study done by the National Association of REALTORS found that although sales of investment properties and single family homes are down right now, vacation and second homes sales have been slowly rising in record numbers. In 2006 vacation home sales actually rose 4.7% nationwide, setting a new record, while primary residence sales declined just over 4%.

Looks like vacation home buyers are getting younger as well. In 2005 the typical age of a vacation home buyer was 52, and it 2006 it dropped to 44. One possible reason for this is that people in the younger age bracket view a real estate purchase as an investment alternative to an always fluctuating stock market. Most vacation home buyers have household income over $100,000, and they want to make a long term investment they feel is wise and secure. Many of these buyers purchase with the intent of using it as primary residence when they retire, but rent it out in the mean time to offset costs.
Tucson and other Arizona areas remain popular destinations for vacation home buyers, and have a big impact on the local real estate market. Between 2000 and 2004, 28% of the annual average growth in Arizona resulted from purchases of vacation or second homes. Arizona fell second to Nevada, who contributed 35% of the annual average growth during this period to vacation or second home buyers. Tucson's dry climate and warm temperatures are perfect for enjoying many of the outdoor activities that vacation home buyers are looking for, like golf, hiking and bicycling.

The slowing of Tucson home sales makes it a great time for home buyers to begin their search for a vacation home. Home investors that once drove up Tucson real estate prices are now avoiding the market. This gives Tucson home buyers time to evaluate what's available and make a decision they can feel good about. Lower home prices also make it a great time to buy because after several years of price increases, the Tucson housing market is normalizing again, giving buyers a clear picture of what the home their purchasing is worth.







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