Important news before you travel:
If you are in the United States you should be aware of certain Travel Advisories which are given to citizens who choose to travel abroad. These advisories can affect you and may even change your travel plans. So before you go to the airport you should always check to see if your destination country is on the List of the United States Government Travel Advisories.
For more information: Check out the link below which will send you to the US Governments official website.
YOSEMITE NATIONAL PARK
Yosemite National Park is located in California’s Sierra Nevada mountains. It is best known for its waterfalls, but within its nearly 1,200 square miles, you can find deep valleys, grand meadows, ancient giant sequoias, a vast wilderness area, and much more. More than 5 million people visit Yosemite each year....read more
GOING TO LONDON'S HEATHROW?
Heathrow Airport is used by over 90 airlines flying to 170 destinations worldwide. The airport is the primary hub of British Airways, and is a base for Virgin Atlantic. With 190,000 passengers arriving and departing every day, Heathrow handles more international passengers than any other airport in the world.
Of Heathrow's 69 million passengers in 2011, 7% were bound for UK destinations, 41% were short-haul international travellers and 52% were long-haul. The busiest single destination in passenger numbers is New York, with over 3.8 million passengers between Heathrow and JFK / Newark airports in 2011. The airport has five passenger terminals (numbered 1 to 5) and a cargo terminal.
Full body scanners are now used at the airport, and passengers who object to their use after being selected are not allowed to fly...read more
THE WILDERNESS OF ALASKA
Alaska is more than just the largest state in America it is one of the largest natural untouched places in the world. There is so much to do and see in Alaska whether you prefer to hike on an ice age glacier...read more
YELLOWSTONE NATIONAL PARK
Yellowstone national park is a wonderful place to go on vacation. Old Faithful and the majority of the world's geysers are preserved at Yellowstone. They are the main reason the park was established in 1872 as America's first national park...read more
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VACATION HOME BUYING THE RIGHT WAY
Before you buy a vacation property you should rent the home or a similar home close by. If you plan on using the home year round then you should rent for each season and see what it's like. A home during the summer is very different than a home during the winter and you need to experience both.
They say that the key to vacation homes is location, location, location. Sure, this is a cliché, but that doesn’t make it wrong. Before making an offer on a home, get to really know the area by visiting several times to explore the neighborhoods and check out the amenities.
Vacation-home buyers often make down payments of 20% to 50%. Some even pay cash if they're buying a less expensive cabin or condo. Where do they get the money? A home-equity credit line drawn on their primary residence is a favorite source. Mortgage interest on a second home is deductible on as much as $1 million in principal for both homes combined.
Higher interest rates used to be the rule for mortgages on second homes because lenders considered them a greater risk than loans on primary residences. But these days you should be able to find a second-home mortgage at first-home rates.
If you are planning to buy the home for your own use and not as an investment, you have a completely different set of considerations than if you were just to buy it and never use it.
If you are planning to use the property extensively, you probably want the vacation home to be within 2 hours of your home. We've written in the past on how most happy second homeowners are those that can get to and from their vacation homes in two hours' time. Then the issue is whether you can afford the vacation home while assessing all of the costs involved in owning, maintaining and keeping that home.
If you plan to buy it for investment purposes, you still have quite a number of considerations to keep in mind. If you use the home more than 14 days per year or it's not rented that much, the home will be considered a second home and not an investment rental.
You should consider the federal income tax consequences in your decision to own a vacation rental as well. An investment vacation rental property may affect your federal income taxes. Owning a vacation rental home that is rented all the time will give you income to report to the IRS, but you'll also have deductions from the expenses of owning the home, including real estate taxes, homeowner dues and management fees.
A home in a badly chosen location won't serve anyone's goals -- an investor can't resell or rent it, a vacationer won't enjoy it, and a future retiree may have to pick up and move again. You'll need to rely on both market research and your own personal preferences. Look into factors like the strength of the local economy, trends in house resale values, convenience and amenities, property tax rates, the quality of local schools and medical care, and more.
The best vacation properties offer something special -- a view of the ocean, a mountain vista, a dock on a lake. For maximum appeal to potential renters or future buyers, look for a place within three hours' drive of a major metropolitan area.
The type of home you buy is similarly important. The costs and demands of owning a single-family home are different from those of owning a condominium, townhouse, or co-op. Which type serves you best will depend on factors such as cost, location, and upkeep.
For example, condos, townhouses, and co-ops typically require less maintenance, since the areas of the property outside your unit are governed and maintained by a community association (of which you'll be a member). However, you'll pay for that maintenance in the form of monthly fees and special assessments.