Can You Afford a Second Home?

by Bill Conda 02/02/2020

If you have always wanted to own a second home in the mountains, near the beach or just about anywhere else, now may be the ideal time to transform your dream into a reality. The housing market offers many opportunities for property buyers – even those who already own a residence. If you understand what it takes to navigate the homebuying journey, you could quickly and effortlessly purchase a second house that matches or exceeds your expectations.

Ultimately, there are lots of things you can do to streamline your search for a second residence, such as:

1. Get Your Finances in Order

If you still have a mortgage on your current residence, there is no need to stress. In fact, by consulting with a mortgage specialist, you can evaluate your home financing options as you prepare to search for a second house.

Mortgage specialists are available at banks and credit unions, and they understand the ins and outs of home financing. Thus, mortgage specialists can help you analyze your current mortgage, establish a homebuying budget and determine the optimal financing option for a second house.

Of course, if your current house's mortgage is paid in full, mortgage specialists can still help you get ready to launch a search for a second residence. If you collaborate with mortgage specialists, you can get the help you need to immediately obtain financing to acquire a second house.

2. Narrow Your Home Search

You know you want to buy a second house – now, you just need to hone your house search based on your individual needs. If you focus on residences in a select group of cities and towns, you may quickly discover a wonderful house that you can enjoy for years to come.

As you consider potential cities and towns where you want to purchase a second home, think about your short- and long-term goals, too. By doing so, you can boost the likelihood of finding a second house that will suit you perfectly both now and in the future.

3. Consult with a Real Estate Agent

For those who want to acquire a second home sooner rather than later, hiring a real estate agent is a must. Because if you have a friendly, knowledgeable real estate agent at your side, you can minimize the risk of encountering roadblocks that otherwise could slow down your homebuying journey.

A real estate agent is happy to teach you about the housing market in your preferred cities and towns. Plus, he or she can offer expert recommendations about how much to offer to pay for a residence you want to acquire. And if you have concerns or questions as you pursue a second home, a real estate agent is ready to respond to them right away.

Take the guesswork out of finding and purchasing a second residence – use the aforementioned tips, and you could speed up your search for a second house.

About the Author
Author

Bill Conda

 BILL CONDA - AN APPROACHABLE PROFESSIONAL AT Every LEVEL

With over 35 years of expertise, Bill is a highly awarded Realtor® and recognized Top 5% of all Brokers countrywide. Early in Bills career, while running his Family’s New Car Dealership, his commitment to his clients and employees earned him the "Masters Sales Managers' Award" from General Motors. In 1984 this ethic helped propel Bill to the top of the industry within 2 years of moving to beautiful York Beach, Maine. Where Bill earned his place in the Top 5% of all Brokers in the country, Including the Covenant Centurion Award 15 times! Having vacationed and engaged with the community right here on Singer Island for the past 27 years, He made the decision of moving here full time to better assist others on what he considers ‘his best life choice to date’! “The area is truly a hidden-gem…” has been spoken uncountable times.
His experience and knowledge of the local Industry enable him to offer you outstanding results, making your buying or selling journey, seamless and enjoyable!

Bill is a graduate of Bryant & Stratton College in Boston
Community Contribution Highlights
Past President of York County Council of Realtors, 2014
Broker of the year 2014 (voted on by my peers)
Member of the Realtors Leadership Conference
President of York Kiwanis, 2017
Founder of the York, Jr. Wildcats Football & Pee Wee program
National Association of Real Estate Alliance Member
York Library Fund Raising Campaign
Committee Historical Society Fund Raising Campaign
York Chamber Ambassador
Heart Awareness for Women
Sponsor of the Children’s Miracle Network
Make a Wish Foundation
Wounded Warriors
served honorably in the Army

Awards
Executive Club
100% Club
Covenant Centurion
Realtor of the Year, 2014

BILL CONDA
Realtor®