Tens of thousands of people head to the Big Island for vacation each year, but things are changing. Rather than stay in hotels during their annual or semi-annual vacation, many are investing in vacation or ‘second’ homes. Before you take the plunge, however, there are a few things you should consider. Our Hawaii luxury property professionals want you to be well-prepared and in-the-know when it comes to investing in a tropical getaway!
Be realistic when it comes to the properties you can get for what you’re willing to spend. When it comes to a vacation home, there are properties available regardless of your budget, but some afford ocean views or access while others do not. Are you prepared to drive to the beach? If your top priority is a more luxurious waterfront home, be prepared to pay more.
Understand your goals. If you intend to vacation in the home yourself, or even live in it during a certain time of the year, you want to be certain it’s the ideal property and location – a place your family will be excited about coming to, one that’s relaxing, comfortable, and includes the features/amenities most important to your lifestyle.
Do a little research if you want to buy in one of the resort communities on the Big Island. Who are the developers and builders, and what are their reputations? Is the property maintained as you would expect, and if you’re looking at a condo, is there a building manager? Resort properties are exclusive, so you should expect an enhanced way of living.
What about the history of the community or resort? Knowing whether properties, including the one you’re considering and those around it, have maintained or increased in value over time is important when you want to make a smart investment. You may also want to research whether the home has ever been rented out, and if it’s a location that is sought-after. Learn all you can!
At Mauna Kea Realty our specialty is luxury properties on the Big Island whether you’re searching for a grand estate, upscale home, condo, or parcel of land on which to build your dream home. Give our luxury real estate professionals a call for help with your Big Island luxury home investment!