How to Find a Great Vacation Home

When considering the purchase of a vacation home or a second home, many people think of the standard areas such as  Florida, Southern California, Napa wine country, Las Vegas, the Rocky mountains, and so on.  Those with a ample financial resources may also contemplate the Hamptons for the summer or Vail for the winter.

Although these are all great locations, the problem with these areas is that they've become so popular that there are  few homes left in the area for purchase.  And because these locations are overcrowded, this means that the properties which are available are selling at a premium.

So what should you do if your family just wants a nice place to vacation for a few weeks or months of the year? Are you  out of luck and left getting some old fishing cabin?

Thankfully there are many options! There are many yet to be discovered, out-of-the-way vacation spots that still offer the best in real estate, scenery, activities and everything a family could desire.

A few of these were reported on by SmartMoney in 2002 on their website:

Hatteras Island, North Carolina

Finding ocean vacation property on any U.S. coastline — without spending like billionaire — requires some research. Fortunately, you can still find affordable modern salt boxes in one of the seven small villages on this quaint island. Recreation here includes fishing, surfing, kayaking and the 3,000-acre Buxton Woods for hiking or horseback riding. Vacation home management consultant George Volsky states that northern towns such as Rodanthe or Waves will be the land developers' next project. Few waterfront lots are available, but a three-bedroom house five minutes' walk from the beach can be found for under $300,000.

Sandpoint, Idaho

If you missed buying your vacation home in Aspen or Steamboat Springs, where prices have become outrageous over the past 15 years, consider this ski area 50 miles south of the Canadian border. Sandpoint is located amid the Selkirk and Cabinet mountains. It offers year-round swimming, fishing and sailing on the Pend Oreille Lake (140 square miles) and River. Deluxe mountain cabins cost about $200,000, while a newer ski chalet or a ranch style house on the water will cost at least $300,000.

Blue Ridge, Georgia

Instead of traveling to overcrowded Orlando or the Florida Keys, some people from Atlanta are heading to North Georgia. Why is this town such a great retreat? Because there is no concern about overdevelopment. 42% of Fannin County is owned by the National Forest Service. After hiking the many Appalachian mountain trails, head to the 100-year-old downtown Blue Ridge to furnish your new vacation house at the antique stores and galleries. Two-bedroom cabins in the woods will start at $150,000. Prices rise to over $400,000 for a house with several acres or for one closer to the river or Blue Ridge Lake.

Phoenicia, N.Y.

Woodstock is pricey, and the crowds have nearly exhausted its Bohemian atmosphere. This little Catskill Mountains burg is 20 miles away and much less hectic. Nearby attractions include many historic colonial-era homes and the Hudson River. There's skiing at and Hunter and Belleayre mountains, and tubing on the Esopus Creek in the summer. Phoenicia is only two hours from New York City. Cabin style homes start at $150,000 while more luxurious chalets and contemporary homes start at $300,000.

Michigan City, Indiana

With record-setting prices for lakefront property just across the border in Michigan, this old Lake Michigan port is looking better all the time. Just a little over an hour from the Loop in downtown Chicago, Michigan City offers houses with views of the lake beginning at $375,000. Local attractions range from the Blue Chip Casino to an art museum and serious outlet shopping. The primary draw is Lake Michigan's beaches.

These are of course just a few of the vacation spots that are becoming increasingly popular with those who want second homes without an enormous price tag, or who cannot find the right property in the more stereotypical retreats.

Important Considerations When Shopping for a Second Home

How will you get to your vacation home?

Are you planning to visit your property frequently, or just once or twice a year? If you go once or twice a year driving or flying may be fine. If you are fortunate enough to use your vacation home several times a year or even most weekends you want to choose a location close to your primary residence. If you figure an hour of driving for every 50 miles how many hours are you willing to spend in the car for a long weekend?  Typically two or three hours is the maximum you will want to travel before it begins to detract from your vacation. On the other hand, if you're looking for something that is just for an annual vacation, your options are a bit more open.

How Will It Fit Into Your Future Lifestyle?

A vacation home may meet all your current needs and interests, but what are your plans for the future? Most people have a tendency to slow down a bit as they mature, so skiing those black diamond slopes or biking up the steep mountain trails may be less appealing after awhile.

You should consider the entire family including current and planned children. If you have young children, what are their favorite activities, and will the area accommodate the interests of your kids for years to come? For example, fishing on a quiet lake may be great fun for now, but teenagers often want faster paced recreation. You might look at homes on or near a lake that provides other water sports opportunities, such as power boats and jet skiing.

If you're considering a vacation home that is also a permanent investment, then you want to be in an location that offers a wide variety of recreation options.

Additionally, if you're planning to keep this home for years and even decades to be your future retirement home, make sure it will suitably accommodate your needs in those later years.  As we age, we all get some discomfort and stiffness in the joints, so needing to run up and down long staircases to get to bedrooms and even bathrooms will not be enjoyable as you get older.  Think about how the home will fit your lifestyle in ten, twenty, or thirty years, then you can make the best decision.

Of course, In the end, it's up to you to search out the best vacation property for you and your family. But if you keep in mind that there are amazing and beautiful properties just a bit off the beaten path, and make certain that the home you're looking at suits you now and into the future, you're sure to find a beautiful vacation home that's will keep you happy and relaxed for years to come.