Are you considering purchasing your first vacation home? Saint Louis and the surrounding areas are a great place to enjoy an escape from the hubbub and many of the homes we sell are located in rural areas that provide quietly verdant surroundings yet are close to major highways and attractions.
The first major hurdle you’ll face when buying a vacation home is your credit. The better your credit, the more a bank will favor a buyer since it means that he or she is capable of paying bills on time and will not default on a loan.
Remember that even if you have the money available to make the down payment, there are many more costs involved in owning a vacation home. These include monthly bills, upkeep, and other costs generally associated with homeownership. Depending on the property and its location, you may also have the option of renting the home out when it’s not being used, which can help to pay some of these costs as well as the mortgage.
This update is brought to you by The Rick and Tracy Ellis Team. We specialize in luxury properties within the St. Charles MO real estate market and have over forty years of experience in other markets like St. Louis County real estate. Call 636-299-3702 to get started with buying, selling, and investing with our experienced team of Realtors. Also, be sure to tune into 97.1 FM NewsTalk every Sunday from 10 am to 11 am to listen to the Tracy Ellis Show.