You know what? I'm thinking about quitting my job right this minute, heading out the door, getting on a plane and ending up in paradise... how does that sound?! (Please don't tell my boss)
No, I'm not a millionaire. These days, buying a vacation real estate property is within anybody's reach. Even with the economy in the toilet, there are still some ways in which you can find deals on vacation real estate. Then, you can fly off to paradise anytime life starts to weigh on you.
But you'd better give the boss that month's notice. Then you'll have a job to come back to.
Go There! Still, The Best Way To Find Deals On Vacation Real Estate
Does this sound like a no-brainer? Well, most vacation real estate investors don't go there themselves. They use an agent who's there, and sends them pictures, floor plans, maps, and descriptions about how beautiful and like heaven it is.
This way, you can look at tons of property right there in your air conditioned office, and you never even have to travel at all. The disadvantage is that the agent will make piles of money from your laziness; and you could be dealing directly with the sellers!
It's still a good idea to get an agent, of course, but you can save big time by visiting the location where you'd like to buy a house. This goes for both domestic and international property. Talk to locals, and they'll clue you in to the best deals.
Location Is The Key
One way to save some money is to choose your location well. If you're looking for a house in the Rocky Mountains of Colorado, on the beach in San Diego, or in Europe, you can expect to pay more. But what about Mexico, the Caribbean, Brazil, or Bali?
Another way to save a bundle is to settle for a little less. Don't buy the biggest, most luxurious property. Instead of getting the house on the beach, get the house a block away. You'll still have sea breeze blowing in through your window, the wild parrots landing on your porch, and you just have to hike 30 seconds to the ocean.
Rent It While You're Away
With vacation real estate, you can always make it pay for itself by renting it. This also gives you tax advantages. You won't have any trouble finding somebody who will be happy to stay there at a reasonable price.
Swap With Somebody
The latest trend in realty is home swapping. You trade homes with somebody who wants to move to your neck of the woods. It started in the UK, and now it's spreading all over the world. You can save big and relocate to your favorite destination.
There are deals everywhere, and even working folks like you and me can take advantage of them. You just have to be smart and motivated. Picture yourself next year heading off on a holiday, to your own home in the islands!