Take Advantage of Low Interest Rates
Considering buying a vacation home in Ocean City? If so, now is a great time. Home values have climbed in the past few years while mortgage rates have gone down. Take advantage of these low interest rates – so low, that in many markets mortgage payments are less than rent, say real estate experts. Buyers can speed the process along by completing their mortgage application and being pre-approved or (even better) fully approved before they start any serious house hunting. Now that spring has finally sprung, it is time to get the ball rolling!
Get Informed About the Local Area
Start off by educating yourself about market values and trends. Enlist the help of a well-connected real estate agent, who can provide inside information about the local market and types of homes that you`re looking for. Once you narrow down your search to a certain building or part of town, one of the best things you can do is spend some time there as a renter. This will help you to get a better understanding of the seasons and general atmosphere, which will help in your decision process. Online research can help, but nothing beats first-hand information!
Consider Your Rental Earning Potential
For buyers who plan on using their vacation home as an investment in the rental market, be sure to make a conservative estimate of rental income. Not only does Vantage have a hard-working & successful sales team, but we also have an experienced & knowledgeable rental team all under the same roof! We`ll give you an accurate estimate of rental income, and even break it down week by week. With over 400 rental properties, Vantage is one of the best in Ocean City vacation rental management we are here to help you achieve your vacation home goals.
Click HERE to meet our Sales Team & learn more about buying real estate in Ocean City, MD.
Click HERE to learn the benefits of renting with Vantage & request a free Rental Market Analysis.